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Updated almost 9 years ago on . Most recent reply
Relocating to A New State Just to Invest in Real Estate
Hi Everyone!
I currently live in San Francisco and own a 1bd/1ba condo outright. I love it here and am a California native, but my "dream" is to buy, flip, and hold properties and it doesn't seem like California is a great place to do that. With that being said, I am seriously considering selling my home here and using the cash to invest in Philadelphia and the surrounding regions (I could consider moving to virtually any area that offers a good ROI though). I'm focused on PA because my boyfriend has family there and knows the area. I feel that I currently have the capital to do so, as well as the time and interest, and I'd like to make a career out of it. My parents were flippers when I was a kid so that's probably part of where my interest comes from.
I guess what I'm asking is, does this sound like a crazy idea? Is there any advice you'd offer?
I'm also a little worried that I'd be moving there in 2017 and the RE market could be peaking (just based on the natural boom/bust cycle I've seen historically).
Thanks in advance for your input.