House Hack in Expensive Market or Invest Out of State?

[Sean Dillon]

I live in an expensive market (Long Island), where breaking even or cash flowing on a property isn’t really possible right away. I’m 18 and currently living at home with low expenses.

My dilemma: Should I buy a duplex as a house hack and cover the negative cash flow to start building equity? Or should I take advantage of my low living costs and focus on investing out of state in a more affordable market?

My other concern is that home prices on Long Island appreciate quickly. Since it's already an expensive area, I worry that waiting too long could make it even harder to afford a home when I eventually want to move out of my parents’ house.

Looking for advice from experienced investors—what would you do in my situation?

[Andreas W.]

@Wale Lawal

I would remommend the polar opposite of what you say. Learn the trade at your door step and max. In person control before controlling re from the distance. You could be eaten alive without knowing for months.