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Updated over 9 years ago on . Most recent reply

User Stats

2
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Will Hamilton
  • Attorney
  • Tallahassee, FL
0
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2
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One Year Left in Town- Rent or buy a Condo

Will Hamilton
  • Attorney
  • Tallahassee, FL
Posted

Hello BP Community,

I need to change my living situation, but I will likely only be in my current city for another year.

I am interested in rei, but have been holding off until I know which city I am going to settle in.

However, I am now considering purchasing a two bedroom condo for which I could pay all fees if I dont have a tenant for the second room . I would live there for a year, and then if I need to change cities I could remotely manage the property.

My reason for going with a condo is that the maintenance work goes through the complex, making it easier to manage from another city.

So my questions are:

1)Is this sound logic, and a reasonable plan for success?

2)Is there anything that immediately comes to your mind that I might not be considering?

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