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Updated almost 8 years ago,
Should I buy rental property if not stable?
Here is the deal. I am unstable. I live in a state a few years and move.. Sometimes up to ten years, other times 2 years.
The nice thing is my job is flexible and i can live anywhere and transfer anywhere. The problem is I don't know where to live. Right now I am in Ohio cause its affordable and close to my home state of Illinois. I have family in Arizona and Florida. I lived in both of those states but left because of the heat and lack of jobs there.
Anyway, I am tired of renting and throwing away money. I am thinking of buying a duplex and renting out one side and living in the other side. if I get the itch to move out of state I could just rent out both sides and get a property management company to manage the duplex and still have cash flow.
Is that a great idea?
Or should I just rent the rest of my life and throw money away? Honestly, I have no idea which state I will end up these days. Never want to settle down.