Time restrictions in one market?

Question

I want to begin investing ASAP but know I will only be present in my market for a short period of time (1.5-ish years) due to a job transfer. Bad idea to begin where I am live now?... Better idea to begin in the city to where I'll go in a year or so?

David Frost · Answer

Awesome. Thanks guys!

Melissa Gittens · Answer

Great advice @Rich Baer I would add that you look at the local and state laws on landlord and tenant relation so that you know exactly what your state allows (as far as deposits and eviction process as well)

Regina Abayev · Answer

I wouldn't hold-off just b/c you will be moving out of state.  If you like the area, can find the right property, just price in the cost of having a property management firm manage the property after you move.

Rich Baer · Answer

David,

If you are seeking to invest in a rental property, I would encourage you to do so. These days, location is not a barrier to investing. If you find a property and the numbers work give it a try. My only qualifier is that you should find a Property Management Company who you can trust. You will need to do some research on the matter and find out if they are right for you. You should also become well versed in what it takes to be a Landlord and the risks/benefits involved. If you are comfortable with the business you can invest in many States with confidence if you put the correct safeguards in place.

Rich Baer, Esq.