Choosing between two different markets?

[Account Closed]

I'm a college student and I spend about half the year with my parents (summer, winter break) and half the year in Columbia, SC, where I go to college. My parents live about 3 hours away. I'm a newbie and do not own any property yet, but I have done a ton of research and am ready to take the plunge when I find a good deal. I'm looking for small multifamily rentals, and I see the obvious benefit of living in the market you invest in. However, will being a few hours away for part of the year pose a significant issue? Would it be better to house-hack a property and stay there year round? Any input is appreciated.

[Jay Berube]

Hi, Winston! When I have to decide in which market to invest, I usually base my decision on the following criteria: jobs that are being created and have been created for the past 5 years; the building permits that have been pulled; the transportation in place; the unemployment rate; the overall infrastructure;  access to affordable housing; the housing market, specifically days on market, and contractor prices. Based on this data, I try to project what's going to happen in the next 5 years. Based on that, I decide whether to invest in that market or not. This is just what I do. Perhaps you'll find this pattern useful.