So I’m in a bigger small town about 40 minutes from a major city. My town is a good investment because there’s lots of schools and commuters. There’s always houses available nearby. I’m going to start looking next month. I don’t want to stay in my town, but I feel like it would be a major plus to be here for resell value.
What’s the best investment: 1) a duplex in town. It would cost $70k-100k and would be about 300-500 a month. I couldn’t afford it on my own, but I’d always be able to rent out the other side to friends. I probably would have a small max I could make back, like 100-160k.
2) I could buy a property with a rental property out in the country. Example: there’s a property with 2 trailers for sale for 100k. If I had the space and if I was able, I could add maybe another trailer and get more income?
3) I could buy this straw-bale cottage in a rural area. It’s cheap, like 50k, and there’s already another small cottage there. It’s not much now, but due to lack of strict building codes I could theoretically improve upon it a lot and it has 5 acres so I’d have a lot of space to work with. I could also make it an Airbnb location for people for a local major state park. I’d have to put in a lot of work to sell it for more.
In every situation I’d be most likely to rent out to friends first. I’d prefer to move out of town because I’ve been here my whole life.
I’m open to other suggestions too. I really want to be able to make money back on this and invest towards the future.
Submitted April 30, 2019 at 08:24AM by DrDouchebaggins http://bit.ly/2IQNeTv
