First Property Financing Dilemma

[Elena Dries]

Hi, everyone!

I am a newbie and in the process of deciding on strategy and financing for our first investment property. I came across a dilemma or rather a trilemma.

The starting points of financing: we have cash and equity in our current home, either of them is enough for 20-25% of down-payment.

The starting points of strategy: going for a small BRRRR multi-families, but also considering house-hacking as the first step.

So at the moment I feel confused how to proceed, should we first buy a multi-family and stay in our current dwelling, or house-hack and rent out our current dwelling; what should we use for making the down-payment and how should we finance the rest?

I would appreciate if you could chip in and spill your ideas on how best to start and why, what are our options.

Thank you!

Elena