Move into investment property?

2 Replies

I purchased a foreclosed hud home from 45 grand and plan to flip it. The house is 2 hours from my job. I currently have an apartment 20 min from my job, but I’m paying 1grand a month for it. I also have the additional costs of insurance and electric. Should I give up my apartment and move into the investment property to save money? The property is in Milford, PA and I work in NYC. My apartment is in NYC. I’m only making 90k a year. 

It would save you the $1,000  month like you said but you would have the commute time/gas money/etc.  For me it would be about how fast I could finish the project.  If you finish in a few months how much will that save you living there?  Will you have to move again?  Sounds like you could burn out from that.  Its a tough call,  I was in your situation and moved into a reno I was doing.  I saved money and in the end made a bunch but living in a construct site is hard. Probably won't do it again.

Hi Michael, 

So what did you do in the end? I am in a similar situation and remodeling a flip and renting a place, it probably would take me another months to finish it if I decide to move into it, so it is mot much work would be left to do. So what did you do in the end and were you happy making that decision?