I'm so excited about finally being able to investment in real estate. My husband owned a house when we married so my slate is entirely clean and I had issues with my credit, but that has since been cleaned up and my fico score is in range to purchase property.
My dilemma: I'm interested in owner-occupying a multi-family house and following some of the investment rules (1.5-2%, cap rate, etc), but how do I get pass some of the issues with location and losing some of my privacy. I still want to live nicely, but when I look at the multi-family homes that I like they are well under positive CF. The properties that fit my criteria are in so-so neighborhoods. I know I only have to reside in the property for 1-2 years, but I need to get over it. :(
Should I just plop 20% down and stay where I am or should I do owner-occupy and suffer it out. Not sure which direction would make the most since in the long haul. I really want to start building cash-flow. Oh, if I do owner-occupy I would rent my current house our too and that will bring positive CF as well.
Decisions... decisions.. decisions.... Any one with input.
Thanks! - Kim
