What would you do???
What should I do? I live in a town that is NOT affected (much) by the housing market. About 125,000 in population, with a MAJOR highway corridor being built and 4 yr university is now here and several big factories moving in because of it. It's the 2nd/3rd fastest growing city in the state and is predicted to double in population in the next 7-10 years.
Rent houses stay vacant for about 1-2 weeks. Even in the "hood", you can rent something pretty quickly. I can pick up a few houses and small complexes using the 2% rule. I've never been a landlord, and plan to hiring a PM.
I make about $200K/yr from my job (this won't last forever, but a good 2 or 3 yrs left), great credit, about $750K in assets, $200K in cash, and NO debt.
My question: Should I just pick up as many SFH as possible (assuming the 2% rule) or go after complexes? If complexes, which ones? Big, med, small? They may not fall in the 2% rule though, maybe 1.7% or so. I see a lot of growth, but not sure how to capitalize on it.
Maybe it's not even real estate that is the key, maybe it's something else. I don't know. Please advise and let's assume my population growth turns out as expected.
Thanks!
T