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Updated over 2 years ago,

User Stats

25
Posts
6
Votes
Misael Herrera Granados
Pro Member
  • Olathe, KS
6
Votes |
25
Posts

Options for purchasing

Misael Herrera Granados
Pro Member
  • Olathe, KS
Posted

I'm currently applying for pre-approval to purchase my first ever property. Since I'm 24, and don't have much behind me I'm planning on using an FHA loan and taking on the PMI expense. I have a good credit history and I make solid income.


My original plan was to house hack a duplex in the area (Kansas or Missouri), but the real estate agent I'm working with informed me that I'd have a better cashflow and appreciation chance if I purchase a single family unit. The reason why is that in this area there is a lot of competition among the multifamily properties, thus, not making them cashflow efficient. However, he also stated that the multifamily unit is a better option if I'm thinking on a long term hold (which I am) and it will have two units rather than one when I move out to the next property. 

Any advise on things I may be missing in my though process? Should I consider a single family home and eat the cost of owning it for a year while I fix it cosmetically and then rent it out when I move out?

  • Misael Herrera Granados
  • Loading replies...