Hi everyone, I'm looking to buy my first investment property. I'm currently living in western MA (I'm from here), where a multifamily home can go for ~200-250k. However, I'm planning on moving to the Denver area within a year or so, where obviously prices are a lot higher. I have enough saved for a 20% down payment on a multifamily home MA, and am able to continue saving very aggressively. I'm wondering if I should use what I've saved for a down payment on something local, or continue saving such that I can use that as a down payment in CO. Looking to learn about the pros/cons of my available options. Thanks!
Realtor · Denver, CO · Member since 2013 · 2k+ posts · 1k+ votes
5y
I think there is a lot of value to being hands on with your first investment property. Sounds like it would be your first home too. If you are coming here, then I'd do the house hack to see how it goes. If you like it, then do it every year until you can't anymore. I've got multiple clients on that track, and they are doing VERY well with it.