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Updated over 3 years ago, 08/31/2021

User Stats

5
Posts
2
Votes
John Buffet
2
Votes |
5
Posts

33 Year Old First Time Home Buyer Needs HELP!

John Buffet
Posted

Hello all, 

I'm a 33 year old teacher from New York and I would love your help. I'm single with no kids at the moment. I currently live with my dad and I'd like to move out. My plan was to buy a 2 family home, live in one side and rent out the other. I am looking for places now, although I must continue to save the 3-5% down for the conventional or FHA loan.

I have a realtor friend who told me it's not good to live with your tenants but I really want to move out of my dad's house (he is a hoarder and the living conditions are stressing me out greatly). 

My question is, do I continue to look for the multi family home and go with my plan and live in one side of it and rent the other(s), or do I instead buy a cheapish co-op as my main place to live, and then save up for a multi family home a bit later on? OR, do I buy the multi family home and rent somewhere else? OR, do I buy the multi family, live there for a bit and try to save up for a co-op?

Any help would be appreciated!

Thank you

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