Reaching out to old acquaintences

First year analyst at a BB. I recently took some time off to come home for Thanksgiving. While I'm here I decided to catch up with an associate who used to be in my group; we're from the same area and he joined a local PE shop. I told him I'm in a similar situation in that I'd like to move back to be closer to family someday. Our catch up went well and he concluded by saying "let me know when you're ready to make the move back to [hometown], I'll be glad to help you wih opportunities at [PE shop]."

My question is...when should I make this move? Or more importantly, how should I tell him? I don't want to tell him immediately because that would seem impulsive, and if I wait too long, the opportunity would likely be gone.

On a similar note, I'm LinkedIn friends with a recruiter for another firm around my hometown; he's not an alum but he came to my school a lot for recruiting (This firm hires a lot of people from my school) and is generally a pretty cool person. Would it be appropriate to reach out to him to "catch up" whenever I'm back home?

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