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Updated almost 5 years ago, 12/18/2019
Newbie need advice on startup and relocation
I am relocating from California to Georgia within the next 6 months. However, I feel loss. Here is in my dilemma; MONEY, EDUCATION, AND TIME.
MONEY: I am spending money setting up my business, attending real estate seminars, and workshops. At the same, time trying to save more money for relocation cost, down payment, and travel expenses to flight back and forth to find a potential investment property to live in temporarily, while trying to keep my credit score up to take advantage of the favorable interest rates.
EDUCATION: I do not know the Georgia market very well. I had purchased a property in Georgia several years ago as my primary residence, which I am now renting out. I am not sure how to analyze the market remotely for my next investment property that I would need to live in for a little while.
TIME: I am now attempting to research how to wholesale while I am here in California to recoup the funds I have already spent. While at the same time trying to find a way to figure out the Georgia market, set up financing, travel back and forth to locate and close on a property within the next 4 months since I need to leave California by May 2020. All this while working full time.
I have attended a couple of REI Meetups in my area. However, I still have not found a solution. Could anyone give me suggestions on the best way to sort this out? I feel as though I am running around like a chicken with my head cut off. I don't like that saying ……sadly to say I understand it now.
Any suggestions would be greatly appreciated.
Hey Denise, the first thing you need to do is to clearly outline your goals. What are you looking to do? Buy and hold? House Hack? Rehab and flip? Wholesale? Or perhaps all of the above? Since you mentioned that you are not familiar with the market, the next thing that I would do is reach out to a local real estate agent and explain to them your situation. You would also need to specify what area(s) you would be considering moving to. Analyzing and fully understanding the market from out of state can be challenging. I would also recommend attending REI networking events that take place in Georgia when you are in town.
@Jailen Holt
Thank you so much for the advice Jailen. This is this very helpful.
