Charleston or Atlanta?

[Mikayla Pryor]

Hi, everyone,

My goal is to buy a house within a year.

I'm originally from Charleston but moved to Atlanta a few months ago. It seems as if Atlanta is this haven for flippers and wholesalers and I would like to live in the house to learn property management first hand but I don' t know the area very well.

Charleston on the other hand is very familiar to me. I already have neighborhoods and parts of town in mind. The city has many sources of potential tenants, two military bases, four colleges, one of the biggest medical universities in the Southeast and many manufacturing companies like Boeing and Volvo. Problem is I'm 5 hours away and I feel it would be harder to manage so far away, plus I'm tired of renting and would like to live in my first property for a year before I progress in my career.

Any thoughts?

[Julius G.]

From what you described, I think you should buy in Atlanta, live in the property, gain experience with your property and add Charleston after you have gotten your feet wet. Apply the BRRRR strategy discussed here and refinance and take some money out for more properties in Atlanta or Charleston. And while you are at it try to find a good property manager in Atlanta to manage if you have to leave Atlanta. A good property manager in Charleston can help manage properties there for you as well.