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Updated almost 9 years ago on . Most recent reply

Marcus Sedberry's profile image
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Marcus Sedberry
  • from Madison, WI
  • Member since Oct 18, 2015
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Marcus Sedberry's profile image
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Marcus Sedberry
  • from Madison, WI
  • Member since Oct 18, 2015
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Marcus Sedberry
  • Madison, WI
1
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Starting Out

Primary residence turned to Rental Property

Marcus Sedberry
  • Madison, WI
Posted

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? 

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Jeff B.'s profile image
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Jeff B.
  • Buy & Hold Owner
  • from Redlands, California
  • Member since Oct 28, 2015
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Jeff B.'s profile image
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Jeff B.
  • Buy & Hold Owner
  • from Redlands, California
  • Member since Oct 28, 2015
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Jeff B.
  • Buy & Hold Owner
  • Redlands, CA
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Jeff B.
  • Buy & Hold Owner
  • Redlands, CA
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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.

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