Purchasing a first time home or investing in Multi-Family

[William Hernandez]

Here is my dilemma. I have yet to buy a sfr home (my age is 60) and would like to begin investing in multi-family dwellings within the next 3-6 months, (or should I) What would you do? Please help! your responses are much needed. Thank you all in advance.

[Brandon Rush]

Hey Robert,

Having you considered house hacking a multi family property? This is a great way to enter multifamily investing. There is no requirement in life that we must all own SFR and live the American dream. House hacking a multi will bring you many benefits such as:

* Living for cheap or free vs paying a mortgage on a SFR
* Allowing you to understand how to manage a multifamily rental
* You can get to own a large asset for a relatively low down payment assuming you owner occupy it

The only true downside I see for some is management of your building's tenants. Some may or may not like this aspect of house hacking. I personally do not mind it but I can see how it would bother others. If you bring in the right tenants over time, it will make managing them a bit easier. 

I hope that opens up your options some and good luck on picking up your first investment. Feel free to reach out with any questions!