Investor · Torrance, CA · Member since 2014 · 75 posts · 13 votes
Good Morning,
So for the last few years I have been living with family which has allowed me to save money and purchase a few properties. My family has recently informed that I will have to move within the next few months. I live in Los Angeles and because of work I am unable relocate. I can afford to purchase a home but the way the market is in Los angeles I'm not sure if that is such a great idea. So I'm wondering if it is smarter for me to rent and continue to invest or would it make more sense for me to purchase a home or a multi-family to live in. I want to make the best decision financially so that I can continue to invest and have my money work for me. thank you in advance for any advice you may have for me.
Investor · Madison, CT · Member since 2014 · 710 posts · 458 votes
9y
@Devin E. - someone with a better idea of the specifics in your market will be able to help more. It all comes down to the numbers. What will you pay in rent? What do you mean by "continue to invest"? Do you have some rentals already? If they are cash flowing enough to cover your rent but not enough to buy a new place, then maybe do that until you can save up more for another downpayment.
I would probably do the multifamily option, but make sure you run the numbers to make sure it is a good investment after you move out. Good luck!