Buying my first home, should I invest or live there?

[Marcel Williams]

Hello everyone!

I was just approved by my lender for 150k and now I am in the process of buying my first home in the Atlanta area. I currently live at home with my parents paying a small amount every month. I have a question for you all; Do I...

1. Buy a house around 100k, rent it out and either stay at home with my parents or get an apt in a nicer area? 

2. Or do I buy a home, live in it, and try to pay it off as fast as I can and then move on to a bigger better home in a nicer area afterwards?

[Eugene Beard]

@Marcel Williams you need to call me brother! I have lived in snellville just about all my life. I literally did what your thinking about. Moved back in with my parents after college(engineering). Got a job at coca-cola( not engineering) so money was tight but I had to get out my parents place. I bought a duplex 200K in norcross and live for free now (well almost) looking for my next property. I made the mistake of not having my numbers right to move out quickly(I lose about $50 a month if I leave now. which isnt bad but its not good either). BUT what I did right was use NACA as a first time homebuyer with no downpayment and closing costs and low interest rate 3.5%. if you can hold on to your job a little longer this might work for you to squeeze out a little more house to get a duplex in the 200K price range. Gwinnett county is hot when it comes to multifamily thats what i focus on. If your interested I can give you the full story and you can get a leg up on your investing. Good luck!

Obviously DM me for my number :)