I've been a BP lurker for a while now but decided to add a profile picture and make a post! I am eager to start the adventure that encapsulates Real Estate investing and am looking for advice on how to achieve my goals in the most efficient manner. My girlfriend and I will be partners in this venture. We have decided to accrue wealth through REI and plan on moving from our current city to one that is more affordable/active. Our current situation is:
We’re currently employed making around $100k as a couple
Have low six figures liquid
Need to earn $20k a year to afford lifestyle to start
We’d ideally love to both quit our jobs and start flipping to support ourselves by doing costmetic/light re-habs. We both would work if needed but have come to the realization that we want to work when we want, where we want, how we want. We’re priced out of our current market in Anchorage, and so we’re looking to move to a location where we can grow our wealth to help us achieve our goals.
I’d love to hear from people who have found areas in the country where they have had success doing buy and holds as well as flips. We are planning on quitting our current jobs around November to travel until February. After this trip we will roadtrip around the United States (Lower 48 as we say here) for a month or two visiting cities before we decide on a location to start investing.
Looking forward to hearing your opinions!
I wish I could help but don't think I have much to offer... However, in regards to your plans prior to settling down, it sounds like a whole lot of fun. I'm getting excited just thinking about all the fun you are going to have.
Anyways, keep us posted to your progress and btw, welcome to the BP Family.
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I've talked to a few people that are in Alaska and investing in the lower 48. Oklahoma, Tennessee, and Ohio areas seem to be the most prominent ones, due to pricing. However, don't forget there are some opportunities in foreign countries as well. A lot depends on the life style you want to live and how much of a revolving balance you can use to keep creating money. Hope this helps. And enjoy your travels!
@Tyler S. You're at a fantastic starting position. You could quickly gain the cashflow you are looking for in the "Lower 48", specifically in the Midwest.
Here's to much exploitation and many adventures!
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