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Updated about 1 year ago,

User Stats

17
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5
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Steven P Daugherty
5
Votes |
17
Posts

Military Family moving to Pensacola for 1 yr then Minneapolis - where to live/invest?

Posted

Hi BP Family, 

I'm an active duty service member and real estate investor currently living and investing in Asheville, NC. I just received orders that my family and I will be relocating to Pensacola, FL for 1 year in Feb 2024. Then in Feb 2025, we'll be moving to the Twin Cities, Minneapolis/St. Paul area for 2 1/2 years. 

We've always wanted to invest in FL so we thought this would be a great opportunity to do a FHA loan (I've already used my VA loan here in Asheville for a property I turned into a rental). And if more experienced investors who know the Twin Cities, MN area, believe that area is a good place to invest too, we would like to buy and rent out when we leave there too.

So my question(s) is ...

1) Where in Pensacola would you recommend a family with young children live and then turn that property into a rental when our year is up?  Does anyone know of an investor savvy agent? We also just bought a primary residence here in Asheville in July 2023, so would I be able to buy a home in February 2024 since we have military orders that we have to move? Price point: Would prefer to it around $300k-$330k. We would be looking for a 3bd/2bath home. Prefer a turn key since we're only there for a year. Just doing a quick look on Redfin it looks like there are homes that meet that criteria. I just don't know the best neighborhood to look for and someone in the area to help us get established - knows handymen, contractors if needed, etc. 

2) Same questions but for Minneapolis too! Where is a family friendly area to live? Best neighborhoods? And are these areas good for rentals? Does anyone have an investor savvy agent in this area? 

Thank you all!!

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