Single Family or House Hack?

[Elijah Householder]

Hello all,

Hope everyone is staying safe during these times! I am pretty new to the forum still so apologies if there is a better place for this post to go.

I am pretty early on in my investing journey and working to nail down my strategy for when I have the funds to purchase my first property. So here are my thoughts. I am saving to have about 70k-80k cash to put down. I have always thought I would house hack with a 2-3 unit property and put about 10%-15% down (hopefully value add to refi and get rid of PMI at some point). As of recent, I have been thinking I can put 20% down on a SFH and and just rent it straight out.

I know a lot of this comes down to the quality of the deal and your overall investment strategy long term. But I wanted to see if anyone has an opinion on which one might be better for a first time investor? I am 22 and am totally open to living in one of my units but am just wondering if SFH could be better?

Thank you in advanced! 

Best,

Elijah

[Jonathan Styer]

@Elijah Householder My vote is house hack all the way. If you buy a SFH to rent out, you're still going to need a place to live and that costs money. You will be able to leverage your cash better house hacking as long as the deal is right. Good luck sounds like you've got your mind in the right place!