Sticky situation. Need suggestions.

[Samuel Rosenak]

I’m an investor in the college town Lawrence, Kansas and Currently I am living in a three bed two bath condominium with my wife and two babies. My wife and I are trying to move out into our forever home so we can rent this current living space out.

My question is this: should we find our house first and get it under contract with intent to close, and then try to process finding out a renter?

Or would you go ahead and get our current house under contract to be leased out, and then start looking for the dream home?

Or some other third option?

If I do the first option our House could for some months be vacant and we lose that months rent longer than we like, or if we do the second option we would be rushing to find our dream home and that would be chaotic. Just hesitant and unsure as to what to do and it looks like either option is stressful.

[Bjorik Mutize]

Perhaps do it simultaneously. Usually a close is what 45-60 days? What if you find your house, get it under contract, then the day terms are agreed upon and you know your close date with your lender begin marketing your condo.

You can find a great local leasing realtor to market the space to find a tenant. How great would it be if it is the same realtor that's helping you find your next home? How long do you think it will take you to get it rent ready? Begin speaking to realtors now and communicate your plan.

So a couple of things to time:

Find a lease agent

Get your place rent ready

Find a home and time your target close with your lender

Get your condo on the market for lease

Getting your place rent ready