Itching to get started, but will be moving soon

[Andrew Dineen]

Hi All,

I'm a 26-year old currently living in Anchorage Alaska, and looking to buy my first property. I've got a great W-2 Job and about 50k that I could comfortably invest with extra for reserves. However, I'm going to be finishing a big project at work in the next 6-7 months and will then likely be moving to a new location.
I'd really like to do a House Hack/Live-in BRRR. I've got the money now, but not enough time to deploy the strategy before my move. In my current market, if I don't do some kind of rehab or house hack, the numbers just aren't making a lot of sense.

What I'm considering currently, is investing out of state. Reading some other posts though, it seems like a lot of newbies have gotten burned when doing long distance for their first deal, and I'd feel much better if I could be there in person, walking properties, talking with local investors, etc.

I'm trying not to let fear cloud my judgement, but should I wait until after I move to get started, or should I try my luck with long distance investing?

If I wait until after my move, I will likely have more capital and could do a House Hack + ADU, and get a lot more bang for my buck by using an FHA loan. In general, this approach sounds like it would be a lot more rewarding/less scary and would help me get a better feel for what to look for if I do want to eventually try long distance investing. In the meantime though, I can't help but to feel like my money is just sitting around doing nothing.

Any advice would be greatly appreciated!