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Updated over 5 years ago on . Most recent reply
New Investor, best option before moving?
Hi!
My husband and I currently live in Michigan, but are thinking of moving to San Antonio, Texas to be closer to family. We are currently working with a realtor in Michigan to purchase fix and flips and also duplexes to rent out. We currently live in a fix and flip and are nearing the end of it. We currently do not have any other properties.
My question/thought is, should we purchase a couple properties here, before we move, that we could rent out and have property managed by a company? We would spend about $70k on each property and rent would be around $1200 a month. Property Management company charges 6%.
Or should we wait until we move to San Antonio, Texas in the next few months and purchase rental properties/ fix and flips there. The thing is, We know nothing about the market down there. My husband was a realtor here in Michigan and knows the market here.
Thanks in advance for your help community!!!!