House hack vs live in rehab strategy in SLC

[Lauren P.]

I'm moving to Salt Lake City in October and will start the search for my first investment property soon after. I'll be looking a property that would initially be a primary residence but ultimately converted to a long term rental. My goal is to get some initial experience in real estate while benefiting from the financing options available to an owner occupant. I know deals are hard to come by in the present climate and I'm curious what locals think has better opportunity at the moment - house hacking small multi family units (or SFH with an ADU) vs live in rehab for SFR? Any areas or neighborhoods you would focus on? My work will take me all over the valley, so anywhere from Ogden to Provo/Orem is a possibility.

[Noel R.]

I dont know the area all too well but simply from an investing strategy I think it depends on you and your angle. If I could trun back the hands of time and was single I would go for the best bang for my buck cash flow wise and get a 4 plex. The fact you can use an FHA and little money down and likely live rent free is a game changer.

Another option is a SFR with a mother in law. I would live in the mother in law and rent the main house. Both great options imo.