Update- question for 36 year old.
Hello all- been a long time since my last post-
House- 80k (interest rate 2.65%)
I am in the process of a job transfer (same company) but to a city located about 1 hour away. The city is a GREAT rental area.
Here is my question. I am thinking of buying a townhome/condo/duplex in the town and stay there about 2-3 night a week (kids have a few years left before graduating, so I donít want to uproot them. All closing costs and moving expenses will be covered. My rate should be around 3% as well.
I am looking at getting a roommate to offset the costs, or just set it up as an Airbnb. I am looking 150-200k max for the purchase. Am I crazy for doing this, or does this make sense? Also, should I look at an LLC to hold it in? Iíve always wanted to get into renting, and I think this could be a great opportunity. Please advise.