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Updated over 4 years ago on . Most recent reply

User Stats

2
Posts
1
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Cristian Lopez
  • New to Real Estate
  • Bolingbrook, IL
1
Votes |
2
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Starting in real estate and moving to a new state

Cristian Lopez
  • New to Real Estate
  • Bolingbrook, IL
Posted

I've just turned 19 and am looking to move to another state (haven't decided yet) by the time I'm 20 or within a year. I currently live in Illinois but I'm looking to get started in real estate elsewhere. I've read various articles, watched many videos, and listened to a couple podcasts and I've decided I want to pursue rental property as opposed to wholesaling, fixing/flipping, etc. However, I'm not sure how to go about moving and buying a rental property at the same time. Let's say for reference I move to Georgia- from Illinois- and decide to purchase a single family home with the BRRRR method in mind. I would close on the home and do repairs, but then the BRRRR method talks about renting. How am I supposed to rent my house if it's where I would be living? Would I have to get an apartment as well? Or would I have to attempt and buy a second home, which I doubt would be possible while my first house has a fresh loan? Any advice is appreciated.

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