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Updated over 8 years ago,
Traveling Couple - Investing in two markets - is it normal?
Howdy, we're fairly new members to the BiggerPockets community. I am mostly posting as a husband and wife team. We've been interested in getting started with real estate for some years now. Our lifestyle is different from the average American's. We already achieved our dreams of full-time travel. We travel the country with our two children in our 27ft Airstream.
Presently at this moment, I'm in beautiful Sandpoint, ID. But now we are looking to start the next chapter of our adventure.
We used to live in Clearwater, FL and still maintain Florida residency, but decided we just don't want to invest there, even though we moved there 5 yrs ago with that intention. It's just, we hate Florida. :)
We've been on the road for a year and a half now, and we're itching to get back into the entrepreneurial game. I've been researching markets, and we are thinking of flipping homes in the greater Cleveland, Ohio area. The reason being there, prices and I have family in Ohio we could utilize. I spent many summers and even a few years working a family construction business. Whenever I was out of work in my 20's I went and worked the family business. So I have a lot of experience there.
Our goal and hope is to do two to three flips in Ohio, and then return out west with the capital and invest in units. Although, we're not 100% sure about the market for rentals. Ultimate goal would be to replace our current income with residual through rental units.
Have been searching the forums for awhile, and kind of curious if there are other investors who go out and flip in markets that are not where they live and invest in markets remotely. I know many remote invest, but I wasn't sure about flipping. For us, we have the ease of moving to any market we want. But it feels like a safer bet to be closer to resources of family and friends when starting off.