Primary residence turned to Rental Property
Hi BP,
I am new to the BP community and to real estate investing. I have been researching, reading, and evaluating properties as @Brandon Turner recommends on webinars and podcast. I currently live in Philadelphia, but I will be relocating soon. As a first step in the investing process I am looking to purchase a single-family home in my new city, with the ultimate goal of turning it into a rental property. Does anyone have any advice on things I should consider or look into as I explore this possibility?
Most Popular Reply
Keep the current property and rent it out for at least one year. Rent in the new location.
When ready, 1031 the rental into another property in the new location.