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Updated about 4 years ago,
What Would You Do if You were Me?
• Single, 41, no anchors. Debt-free with perfect credit. Never owned a home. Have no "dream" location, traveled lots and haven't found a place I wanted to stay yet, I like to move, I love change.
• 10 years in rentals, 7 years in estate management, 4 years flipping raw land.
• At my current job (Las Vegas) for 7 years, but actively applying to jobs. New job will be anywhere in U.S. (or if I'm lucky, internationally) and will last 3-5 years before packing up and finding a new location to work.
• My ultimate, 'someday' dream is to own vacation rentals in a tropical location where there's good diving (most likely not in the US).
Something with 10-20 units that I can live on and eventually move a couple close family members to as we age. (Just to give you an idea of where my head's at)
Some questions I struggle with:
- Where should I invest?
I think it is probably best for me to pick a successful rental market and just build my base there (buy and hold forever), regardless of how I personally feel about the area. The other options would be to buy as much as I can while in a certain area, moving onto the next and doing the same.
- Should I wait until I find the next job in hopes that it is in a great market and then I can begin locally?
I love the idea of managing my own properties (or at the very least, being nearby), given that I know how to do it and am good at it (and I am a control freak and hate entrusting my livelihood to others), but I know that I don't want to live in the same area for 20 years just so I can be close to my properties (even if that property is in Fiji and I own a dive business - I know after a year or two I'd be bored of the dive sites, bored of the food, bored of the views...)
I also feel like it would be a shame to waste the 7 years at this job when it comes to financing - but the clock is ticking on that and I have yet to decide on an area to invest.
Of course I have a zillion other questions rattling around in my brain, but I'm going to open it up to you, the brilliant hive mind of BP!
What would you do if you were me?
Anything goes! I'm open to to all criticism too (oof, scary thing to say on the internet LOL); what should I know, or think more about?
Any advise or suggestions are greatly appreciated - I'm a sponge!!
Thanks, everyone!