Hey, everyone! I have an issue that may or may not be resolvable. My boyfriend and I would love to start investing in real estate, or at least getting a feel for it by visiting houses and learning about market values. Unfortunately, he and I will probably be moving around fairly often, because of his job (3 months from now we'll move, and then a year after that again). Any suggestions on how to get started when we're not sure where we'll even be in the future?
I would say you should pick an area that you want to focus on and research it as much as you can. I think it is a good idea to have all of your properties in the same area. If you are an out of state investor you might want to look for properties that are newer and will have less issues. You also might want to use property management. My rentals are 1,900 miles away from me but they are close to family. I go there a few times a year and can have someone do a drive by if needed. It can be challenging but it is doable. Good luck
My thoughts on this, would be to look at it from the same point of view as a soldier in the military who is looking to invest in properties. (There are a lot of forum discussions here that cover that.) You can look at each area you move to for properties or even just one house to live in and then rent it out once you move on. If you already know that you're going to be moving in 3 months, I would use this time to save up towards the down payment(s) and even start researching the area that you are going to, if you know where that is going to be.
Small multi-family houses (duplex, tri or quad) would be my suggestion on the best way to go. (But that's just my opinion.)
Hi, @Michelle DeRouin . I am in a job that has me in a new city every month. Since I know I won't be in any city long enough to purchase where I can check on my own properties, I've used my traveling job as an opportunity to look at different markets and decide where I want to invest. Once I make that determination, the most important piece is to find a good property manager, one whom your trust, so that once you've left the city you know that your properties will be well taken care of. And the truth is, just because you live in a certain city doesn't mean that city will be right for your investment goals anyways. I am no expert and still figuring it out myself, but that's been my mindset thus far. Best of luck to you and your boyfriend.
Thanks so much for your advice, everyone!
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