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Updated about 8 years ago on . Most recent reply
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Which type of real estate is better long distance?
I am currently in the military and stationed in Newport News, VA. I am looking at purchasing either a small single family home (which I would finance through a conventional loan or through a contact I have who offers seller financing) or I am looking at purchasing a duplex with and FHA loan to house hack for 12 months and rent it out immediately after.
The issue I'm having is if I go through with one of these scenarios, I will be moving back to the west coast in about two years.
I would have to then use a property management company on the property. I am curious to which property in general would make more sense if all the numbers were identical. Does one have more advantages over the other? I know multifamily tend to have a higher turnover rate which in turn would cost me more. Is there any other factors I should be considering?
Thank you
Most Popular Reply
Would love to hear thoughts on this. I have only worked in my local area Chicago and have not bought investment properties outside of my state but would like to.
I have provided turn key rentals for out of state investors but it is because they like many others like the passive investing style. I've been trying to reach out to other folks in smaller more upcoming areas