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Updated about 4 years ago on .
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Househack on bigger city wile renting on a small town-Good idea?
Hello everyone, I am Miguel Credito, 32-year-old normal guy who works at a full-time job as a graphic designer and I want to get into real estate. The main reason for this is I want to be financially independent. To be specific, I want to learn how to invest in rental properties as I think it is the only type of real estate that will work for me given my financial situation. I am an immigrant here in Canada and support my parents back home but I am frugal and try to save crazy to be able to invest. I totally have no idea about the real estate market here.
I read some books like Rich Dad Poor Dad, Richest Man in Babylon, and I'm currently reading Brandon Turner's The Book on Rental Property. I will gladly accept any advice I can get from people here as I know a lot here have a lot of success in this field and getting bigger.
I am thinking of buying a property on a bigger city here in Saskatchewan, Canada and house hack it while living on a small town and paying rent because this is where my job is, given the circumstances, it's tough to just leave and look for another job. The city is 2-hour drive from where I live. My plan is to get a 3 bedroom house or could be half of a duplex. I'm pretty sure this is not the best idea but do you think it will work?
I appreciate any advice that I can get from seasoned investors here. Thank you!