BiggerPockets

Hey guys,

I will be graduating in 5 months and was considering moving. To that end, where is a good place to move to if one wanted to get into the business of real estate,ie flipping, wholesaling, etc. I am currently in washington dc where the taxes are like 7%. I was considering moving to either chicago, texas, washington state, etc. I went to pharmacy school so (knock on wood) there are plenty of jobs in numerous locations.Please advise on where would be a good place to start. Thanks for the advice!!!

TX and Fl. are pretty competitive as far as RE investors, correct Rich? I imagine a new investor without lots of cash might get eaten up there? Again, am I incorrect?

If I had to start over I would go to either Nashville, TN or Phoenix, AZ.

Michigan would be left in the dust...

Rich,

What type of properties are you looking for in FL? apt complexes or sfh

Robert- I'm switching gears a little bit. I moved to FL to buy sfrs. They are a pain to buy.. I'm now trying to find a home for some significant funds. I'd buy a batch of reos in the right area and amounts. I also would buy TX apts if I could steal them.

Vince- I like TX overall and so TX especially. It has the lowest home median price in the state. It has a city across the border of 1 million people. That is where all the plants moved!. It has a new super highway (#69) going right through so. texas area on its way to Canada. It has the winter texans moving there each year and many stay. It has amazing buying power because of hispanics across the border and older winter texans- and they have LOTS of money. There is also unrest in Mexico and lots of Mexiacans from Monterey are buying 2nd homes in S. Tex.
All of these reasons make rio grande valley the # 1 rated area for appreciation for three years in a row. Rich in TX.

Vince,
If you have some post you like, click on the votes box at the top of post. Some are competing on here in a friendly competition. Rich in Dallas.

I just voted for your post. The like the questions and your strategy. 6-12 months expenses is minimum, imo. You were correct on the reos and short sales taking forever. It is also important to find realtors that have the knowledge and TIME to make the offers for you. The significant funds comment was not looking for expensive homes, but to buy more low cost homes
I have a new method to get the lenders' attention and it is beginning to work better....
On your top 3- the 3rd one is hard to find and they will be very opinionated and think they know it all. One will say "buy in cape coral and another will say- stay out of cape coral!"
I would replace your # 3 with do your own research and investigation before and after you get there. I've found that most of the time, the realtors have narrow vision and are the LAST to know what is going on, imo. Rich in TX

Amen on the do your own research. I would not paint that broad of a brush as to the realtors. Most of the people you are running into are half cyclers at best. There are plenty of sharp agents. The key is finding them

On your top 3- the 3rd one is hard to find and they will be very opinionated and think they know it all. One will say "buy in cape coral and another will say- stay out of cape coral!"
I would replace your # 3 with do your own research and investigation before and after you get there.

Amen on the do your own research.

I agree that you shouldn't trust anyone totally when it comes to re. But I think it's super valuable to have successfully proven people you can talk to and then come up with your own opinions based on what they say and on your own research and knowledge.
I always take in information with some skepticism

"I am a little different type of investor in that I NEVER want to see the house, NEVER want to talk to a tenant, NEVER want to make a repair. I figure if I can pay $100K for a house, get $1,000 a month and have a strong chance for good appreciation, I have a winner"

Have you looked into NNN commercial properties? Given your requirements, that might be a fit for you.