Primary residence

[Sean Mcguire]

Hello BP community,

My wife and I are still searching and researching the area for a primary residence. We are new to the area and we'd much rather live in an investment for a few years and rent it out later. Any tips? We are thinking of scooping up a good wholesale purchase or a HUD discount. If you had to buy a home to live in, how would you do it in today's MN market?

-Sean 

[Nathan Brooks]

@Sean Mcguire buy something you will LIKE living in, and feel safe in the neighborhood.  Look for something that you can do some renovation on, and therefore be able to have first access to as an owner occupant, and make a little higher offer than you would as an investor locking for a certain return as a flip property.  That way, you are buying already at a discount, you put your down payment on top of that, and you are in a really good situation.  We did the same thing, and bought our house and have more than doubled it's value from purchase price to current appraised value in just 14 months later.  Doesn't have to be expensive .. just be smart.