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Buy to Rent Out & Rent Where You Live

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LightningHelix

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Hello all,

I've been reading alot of articles lately that claim you should rent where you want to live and invest in properties to rent.

Personally, I think I trust the members here on the forums about this more than those who might have alterior motives.

So what's the concensus? Is it wise advice or malaligned?

Cheers!
 

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The Abundant Man

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Michael Burgess

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I'm quite pleased with my personal decision to do that, with a slight twist.

I bought my first 4 unit building in a different city last April, and it was quite a commute to operate my landscaping company - but it let me get into the real estate game, fix up some of the units in the building, and produce cashflow after monthly expenses.

Just a month ago, I bought a personal house with a workshop in the community where I want to live... Now I'm able to rent out the entire 4 unit apartment building, and just got my next 2 units under contract.

The idea of separating investment properties from your own primary residence (whether you decide to own or rent) is solid, because it allows you to optimize your investments for financial performance instead of personal quality of life. I wouldn't want to live full-time where my rentals are, but other people do, and I'm happy with the numbers.

I definitely recommend getting into the real estate game any way you can, and as you improve your own understanding of real estate, you can have a more nuanced perspective about what could work best for you. Good luck!
 

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