Staying Put vs. Moving Later When First Starting Out

[Heather Trinh]

Hey everyone! As a soon to be college graduate I'm debating whether or not I should move to a new city at first or stay with family for up to 5 years and then move. My family lives in Covington, LA (not sure what the Real Estate market is like there). It's not too far from Baton Rouge or New Orleans, but would any of these places be good for starting out with real estate investing as a beginner? Alternatively, I really like San Antonio, TX and have heard that real estate is booming in Texas especially in Austin which isn't far from San Antonio the only thing is I don't have any family there. It seems hard to weigh the pros and cons of building connections and getting a good understanding of one's local market from the get-go to only move 5 years later. Assuming that if I lived near family starting out and moved 5 years later, I'd have to start all over with building connections and learning a new market. Could it work if I wanted to live near family for my first 5 years out of college, invest in some properties, and then if I wanted to move, my family could look after investments? Or, for real estate investing would it be smartest to pick a place and stay put? Is it not too important assuming one can learn to manage investments long distance(from a different state)? In general, with real estate investing is it best stay put long-term, build connections, and learn your market? Any advice would be greatly appreciated!