Buying our first place in Beacon, NY

[Jordan Moser]

Hey all,

Everyone here on BP has been super helpful so far, so of course I knew where to go when I had a tough real estate question. Here's the scenario, I could use your wisdom on this.

My girlfriend and I are looking to make our first real estate investment. We currently live in Manhattan, but because the property is so expensive, we've been looking at multifamily homes to househack in Beacon, NY, about 1.5 hours of the train line.

There aren't many homes with more than 2 units, and our downpayment of 50k allows puts us in the price range of around 325,000 for a 2-unit (3 if we're lucky!) We talked to a lender, and she quoted monthly expenses at approximately $2020, with closing costs of 15k. Also worth noting is that because most of the houses in Beacon are small, not sure it would make sense to do FHA unless we can get a much larger property with more units to rent out.

Looks like househacking may be tough cause we'll still be paying some rent. (we can probably get around 1200-1600 for renting out the other unit.)

Would this be a smart move? Anyone have any recommendations or words of advice? Trying to make this work but there are just so many factors to keep track of. 

Thanks,

Jordan