Looking to make my first home purchase in Beaumont, TX

[Mark Mazzucco]

Hi,

I am moving to Beaumont, Texas for work this fall and am contemplating on what to purchase/do to plan ahead. I was thinking of buying a home and trying to rent to several coworkers. 

Is there any advice on my first purchase? Should I look at house hacking a duplex or should I get a house and rent out the extra 2 or 3 rooms? I have 60K in cash saved but it seems like putting less down is the better route. I will be making 100K annually and don't have any significant others to worry about taking care of. 

Any suggestions or advice would be great! Or anyone in the Beaumont area that can help!

Best,

Mark 

[Alex Saleeby]

Hey Mark Mazzucco Hope you don't mind high humidity. I lived in Tempe and Chandler many years ago. Climate is quite different here. Otherwise, it isn't such a bad place as some people make it out to be... ahhm.

Your question is quite broad. The answer really depends on what your goals are, how much time you have to dedicate to real estate and how long you plan on staying in the area. Certainly house hacking is an option to help keep you living expenses down and free up more of your money for additional investments or whatever else. With the financial credential you noted, assuming good credit rating, etc., that ought to qualify you for properties in the nicer part of town, aka the West End. There are other smaller towns that have their own charm as well.

Feel free to PM me if you care to discuss further. Take care.