Just Starting Out - What to Do?

[N/A N/A]

Hi Guys,

This is my first post here. This is a great site. I read the forums daily. I just need some general advice. I'll try to make this short.

I'll be graduating school in May and will have student loans to repay - $80,000 worth. I have a 1-year position in D.C. that pays $50,000. After the year is up, there is a slight chance that I'll stay in D.C. There's a greater chance that I'll relocate to Miami-Dade Florida, New York, or Georgia.

With that background, do you suggest I stop paying rent now and purchase a home to live in for about one year, sell it, and then relocate? Or, rather than sell it, hold it, and then relocate? Or, not purchase a house now, aggressively pay down on my student loans while I save to purchase a house once I relocate?

That's the first issue.

If I do decide to purchase a property, I'm torn between single family rentals versus multi-family properties up to four units. Whichever I purchase, I will try to have tenants or roommates. Ordinarily, notwithstanding the common advice to start with a single family property, my preference is to acquire a fourplex, triplex, or duplex (in that order). However, I do know that one disadvantage with these properties is that they are not as easy to sell as is the single family property.

That's the second issue.

That being said, any advice as to what to do with either the first or the second issue or, ideally, with both will be greatly appreciated?

For your information, the strategy of investment that I will be persuing is the buy-and-hold strategy (generally speaking). Also, I plan on making this purchase, if I do decide to purchase, around July or August.

Thanks.

P.S. One thing I will be doing is joining my local real estate investment club.