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Updated almost 3 years ago on . Most recent reply
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Should I move before or after becoming a real estate agent?
Hello BP community. I began school to become an agent here in a small town of about 15,000 in Ohio, and always have, but something has been weighing on me. I feel like perhaps I should leave this state and go to one that is more positively effected by the current migration patterns to have an easier time getting experience and making money.
A little background information about myself and my locality. I'm 28 years old and I bought my first house just over two years ago. When I bought this house i planned on doing a brrrr and after a horrible experience with the drama of having roommates and other factors I have decided I am probably better off selling my house and investing in a multifamily home to house hack with. I have a very conservative 75000 in equity I'm willing to use (which around here goes a whole lot further than most places). Supply is very low already where I am from and there are six factory buildings that are about finished being built and partially subsidized by the city to attract more people to town. This should create a few thousand jobs and a proportionally massive shortage of houses. These places go up for sale q1 next year.
It seems it might be a lot safer to stay here in town because of the known growth expectations, the connections I already have (although this is pretty limited I am still green to the game), the stable job (that I am sick of) I can hold onto and quit when I'm ready, and the lifelong knowledge base of my area.
However, it seems like the opportunity to sell houses in a relatively rural area are still going to be pretty limited and the total volume of sales in the area even with a large percentage growth in population will still be low, the value of homes here is low enough that my commissions when I do sell will be consistently smaller than if I moved, I will struggle much more finding a home to buy elsewhere and even getting a loan will be more difficult if I move. I wouldn't mind living here for another year or two, but I do yearn to move out to somewhere better at some point.
What do you think? Is it a reasonable time for me to move or should I stay here for a while and get some basic experience and a larger nest egg first?
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@Mathew Alexander Kapphahn. Where would you like to move ?