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Updated over 9 years ago,
Advice for future
Hi everyone,
I've begun to acquire enough funds to begin investing with my plan of buy and hold strategy. However, there are several unknowns lurking in the future and I was hoping to get some advice or guidance. Here is the story:
Moved to LA 1yr ago to support my fiancée in grad school. When she graduates in 1 year we will either
a) Stay for another year or two if she gets a job
b) go on to another singing degree for a year, city unknown, then move on from that city to another city unk for hopefully more permanent situation
I see several options regarding each path:
a) Buy an investment property back in my home town, which I know well. Pop 10,000, college town, property taxes 2% avg. and officially partner with my brother and Dad - which I don't want to do based on other horror stories.
b) Buy and hold out of state after establishing trustworthy relationships within the next several months (Lexington/Louisville KY, Greensboro/Charlotte NC- all areas unknown to me but mainly bc I like those areas). That way where ever we move I have a specific area that won't change
c) Wait - which is hard to do bc I want to get started - House Hack when we move for a year, without FHA support bc I doubt I'll qualify if in between jobs (either live in flip or live in owner of multi-plex).
Which is worse - trying to establish a partnership with family or risking building a ground up relationship in a unknown area. My gut tells me to wait, but I feel like rolling the dice. I need some wise words.
Thanks,
Scott