Does anyone know of a professional who I could hire to crunch the numbers on several different real estate scenarios? The scenarios would include different states, different price points, and scenarios in which I lived in the home or did not live in it. Therefore, the professional or team should be understand taxes, personal finance, and the real estate market in different areas. Does such a consultant exist? Thanks for any suggestions!
As background, due to my career, I regularly go overseas for a few years before coming back to the DC region for a few years. I have been trying to figure out whether to buy a home in the expensive DC area to live in when I'm there and rent out while I'm away, or to do pure real estate investing in a cheaper market.
You will probably make more money by buying in DC
I agree with Russell here. Without knowing the financing strategy, property class, or cost point of the home(s) you are trying to acquire for this plan, you can generally find good rental deals in DC that will continue to appreciate on a fairly high pace due to DC's cyclical nature of people always moving in and out of the town every 2-4 years which makes it pretty resilient. While most of the class A and B SFR properties tend to be a .6-.8 deal (with obvious outliers on either side of that) you can get the steady rental demand from professionals that cycle through the area as well as the appreciation. While you shouldn't count on appreciation for a deal, knowing it is there in the background is a good thing.
As for who youu should hire to advise, there isn't really anyone that I can think of besides a current investor or real estate agent that does investing to help run the numbers. I also invest in other markets and can find good deals there as they are everywhere if you know what to look for. So in this situation I would be inclined to advise on the DC home so you can have a place when needed once back in the states.
Let me know if you would like to talk more. I also do my own taxes with multiple rental units so I understand the basic situations while not claiming to be a tax expert. I can also run through market scenarios using multiple calculations to include the bigger pockets ones if it would help you.
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