Looking to buy 1-4 unit in San Diego or invest out of state
Hello BP,
I am currently living in San Diego with my parents and will be graduating from college in 2018. My parents have some extra money and want to use it to help me put a down payment on a house or apartment. It would be my first house so I would be able to use my FHA loan and only put 3.5% down. This is just a general question because I don't have any specific properties or numbers to analyze. What would make more sense using that money to put down payments on a couple of rental properties out of California or using my FHA loan and buying a duplex, triplex, or fourplex here in San Diego?
I am going to be apply to join a couple of different police departments soon. So once I graduate I will be able to start working right away. I know police officers don’t make a lot of money especially to be living here in San Diego. I’m going to be moving out next year no matter what and don’t really want to rent because it feels like a waste of money and renting here in SD would cost as much as owning a duplex and renting one side out and living in the other.
If anyone has any recommendations on what would be a better idea or if anyone has another idea I would love to hear them. Again, this is just a very general question I am just looking to get some ideas so I can do some more looking into what would be a better option for me.
Thank you for all the help!
Tony