Relocating

[Marc Carlson]

I am looking to buy my first investment home soon, I would like to buy and hold for the cash flow.  The question I have is that we will be moving from Rhode Island to the Savannah Georgia aria next summer.  I have three options, and would like to get some opinions on them.  

I can buy a property here in Rhode Island, and become an out of state landlord when I move.  This is the option I like the least, and will probably not go this route.  

I can buy a property in the aria that I will be moving to before we move, and be an out of state landlord for a few months until we move, or I can wait until we move to find a property.

I would appreciate any thoughts and opinions that any of you have that would help me make this choice.

[Michael Seeker]

@Marc Carlson - I'd suggest waiting until after you move to buy a property in the area you're moving to.  The only way I'd think otherwise is if the numbers on rental properties are much better where you currently live and you've already got a team in place (PM, handyman, showing agent, etc.).  If the numbers are comparable or the new location is better then I'd say definitely wait to buy.  And wait until after you move so that you can get a feel for the rental market and what a "good" deal is.  It helps to be able to drive around and look at properties to see where you want to invest.  The info provided online just isn't enough for the first property you plan to own long-term.