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Updated over 7 years ago on .

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1
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0
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Ben Fry
  • Investor
  • Shreveport, LA
0
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1
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Investing while moving frequently for work

Ben Fry
  • Investor
  • Shreveport, LA
Posted

I am 24 years old, and currently in a lease paying $1200 a month for the next year. I am interested in getting started in real estate, and buying a property. I have about $40,000 for a down payment. However, I am likely to only be in my current location for the next year-year and a half. I'm concerned about canceling my lease due to the month and a half penalty, which would be $1800. I'm also hesitant because I won't be here that long and when I move I won't have much equity in a home, or someone to oversee the property as I likely won't be anywhere close. However, my company has a home retention program that would pay my mortgage for 3 years post move which makes buying a little more appealing. Ideally, I would purchase a single family home and then rent it out when I am relocated for work for 3 years at least while I take advantage of the home retention program. I would also need to find a property manager for when I move, any advice on this and advice as to what anyone would do if they were in my shoes would be much appreciated!