Purchasing a house now, to live in the future, in FL

[Wesley Mullen]

I recently came across a Twitter post in which the individual was looking to purchase a home in Florida in the present market in anticipation of moving there several years down the road and thinking the local FL market being even higher at that time. His plan was to rent it out until they were ready to move.

This got me thinking as it aligns with my future goal to eventually move to FL (looking at you Tampa area) and was curious if this seems like a bold strategy or not? I do feel that the FL market will likely continue to increase over the years, so purchasing now would ideally cash flow as well as gain equity and appreciation over time. Dependent on location, this could even be a short term rental with higher cash flow than regular rent.

Good strategy or too much risk with unknowns?

[Obed Calixte]

Florida, and Tampa Bay area specifically, has a lot going for it in terms of continued population growth, strong rental market, solid job market, great weather and the like. With that said, it has attracted quite of bit eyes and is a highly competitive market. 

Is your strategy a bold one, I'd say no -- out of state investing is very common here. What it will ultimately come down to is understanding your risk tolerance, determining your goals ( ROI, minimum cashflow etc) and building a strong reliable team.