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Updated almost 3 years ago,
High mortgage in good area vs low mortgage in less than area
I’m in the Military and I’m in the process of moving to the New Cumberland/Harrisburg/Carlisle, PA area and I want to purchase a multi unit property and house hack. Given the current real estate climate, is it better to purchase a multi unit rental property with a higher mortgage in a more desirable area, and enter into potential bidding wars over the asking price, or is it better to buy in a less than desirable area and build my portfolio and cash flow? I want to begin and can go either way, but I’m not sure which is the better route.
I imagine it may be a 50/50 decision but does anyone have any lessons learned that they could share and/or things they wished they would have known going down either path or both?