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Updated over 5 years ago on . Most recent reply

User Stats

10
Posts
2
Votes
Mel Kline
  • Rental Property Investor
  • Michigan, MI
2
Votes |
10
Posts

New Investor, best option before moving?

Mel Kline
  • Rental Property Investor
  • Michigan, MI
Posted

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!!!! 

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