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Updated over 4 years ago,

Account Closed
  • Philadelphia, PA
2
Votes |
3
Posts

Does it make sense to move temporarily in order to start out?

Account Closed
  • Philadelphia, PA
Posted

Hi Everyone, total newbie here. I currently live in Philadelphia. I just finished paying off 60k in student loans, over the past 3 year, and I am starting to look into real estate investing. I have only been able to build up cash for about 6 months now, I don't have a solid amount of money, so it doesn't feel like I can comfortably afford buying in Philadelphia (i currently rent here). I am contemplating moving to Wilmington, Delaware because that market looks to be a lot more affordable for me. I did live in wilmington for about 4 years (just moved to philly a year ago), so I am actually somewhat knowledgeable about the area. Maybe not from an investor standpoint (because I am new), but at least from a community standpoint. 

I guess my question is:

Do I wait and keep saving until I can afford in philly or do I look in wilmington, where I would be able to buy something sooner, and move there temporarily?

note: I do have a lots of friends and family in northern Delaware, so I wouldn't mind living there, but I do prefer to live in philly.

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