General Real Estate Investing

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Edgar Gonzalez
  • Investor
  • Florida
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Second home purchase

Edgar Gonzalez
  • Investor
  • Florida
Posted Jul 15 2022, 20:44

Hello BP's community. I recently purchased a SFR in the state of Florida about 1 month ago. I work a W-2 job as an engineer and my drive to work and back home takes about 5 hrs of my day. I would rather put that time to focus on other things rather than be on the road for so long. What options are available on purchasing a second home closer to my job? Thanks so much.

Orlando, Florida

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JD Martin
  • Rock Star Extraordinaire
  • Northeast, TN
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JD Martin
  • Rock Star Extraordinaire
  • Northeast, TN
ModeratorReplied Jul 15 2022, 20:47

Rent out the original home and rent something cheaper close to work. Unless you're certain that your job will never go away or that you'll never change jobs, you should really consider renting as closer to your job might not be a good home to hold for a rental long term, and it can take several years to break even on a home purchase even with appreciation by the time you factor closing costs, especially in this market.