Relocating from Los Angles to Puchase/Invest

[Bart Esparza]

Wife (28) and I (33) are 5 months pregnant with first and have been planning to move out of LA for past few years. Recently sold our home and living with Parents rent-free as we plan our big move.

I am currently pre approved for a 600K mortgage with 20% down to purchase a “second home”, current primary residence being my parents as I am on the title. Have 175K liquid with 750+ credit.

My dilemma is there are so many potential markets to relocate and purchase a home and and invest. We have traveled a bit and like many places but our favorite has been Nashville, TN for overall cost of living/weather/Culture.

Our plan is to purchase a house in the <450K range and relocate later in fall after our Baby is at least 3 months. Would it be a dumb idea to buy sooner and rent house for a 6 month lease while we plan our move? We are medical professionals so finding employment is not too difficult however still not sure if better to wait even with no current rent or mortgage. After moving I would like to explore purchasing a rental cabin/house in Gatlinburg region for a short term rental vs purchasing investment property in another state/cheaper market.

Any suggestions or advice is appreciated! A few months ago I read a few of the BiggerPocket books, listened to many podcasts, and even started to obsess about buying a mobile home park but now with the pregnancy I fell back into “safe zone” mentality of buying a primary residence and making smaller moves.

Thanks for reading long post!

-Ruben