Updated almost 5 years ago on . Most recent reply
Conflicted: Buy condo where I live in OC or a SFR out of state?
Hello BP community! I am a newbie to this platform, a novice to real estate investment, and a 1st time homebuyer. I am seeking advice on whether I should purchase a $550,000 2bd/2 bath condo in OC (and rent a room). Or if I should instead invest in a Single Family property 3bd/2bath (for $250-$350,000) out of state - like Utah, Texas, or Arizona, partner with a property management team and rent it out. Then down the line, purchase a home in CA. I have a decent down payment saved, and don't want to miss out on an opportunity to invest in property while the interest rates are so low. Any suggestions are greatly welcomed to help me get some clarity regarding the pros and cons of this decision. Thanks!