House Hacking in a high cost of living area

[Sam A.]

Hi, I'm very new to real estate investing. I'm a recent college grad in the Rhode Island area and saving on average 2000 a month to hopefully move out of my parents house and to an area near my job to get rid of my long commute. My question is, what advice might some experienced investors have regarding house hacking in a high cost of living area like Portsmouth, RI? Is house hacking In high cost of living areas not recommended? 

Thanks in advance! 

[Darius Ogloza]

Do you qualify for an FHA loan? This is an amazing tool available to owner-occupants. In any event, coming from the highest cost area in the country, I can think of no better way of getting into real estate than house hacking in a high quality/high growth area. Stretch to make this happen, ensure you have adequate liquidity to survive any bumps you may encounter down the line and you should be happily pleased in the end.