Where should I move? Next door to you?

Question

Joseph Druther · Answer

Yup, my parents moved down here with us ten years ago. They kept finding that everything was sooo much cheaper here. The nail in the coffin, though, was when they found out how much the property taxes were. They weren't too excited about it at first because they were going to be paying about the same every month in taxes as they were in NJ. That is, until the realtor expressed a look of horror and told them that the cost was yearly, not monthly.

PS. We were from Sussex county and moved down to the pinehurst area.

PS.  We were from Sussex county and moved down to the pinehurst area.

David Faulkner · Answer

A true REI professional can consistently make money in any market. Move wherever you want to live and strive to be THAT kind of investor would be my advice.

Otherwise, you will need to figure out what sort of investment strategy you want to pursue, how it makes a profit, why it works, when it doesn't work, and therefore what type of market is best for this strategy, and then research and move to that kind of market. When the market you move to changes, you will need to change your strategy, stop investing until your original strategy works again, or move again to a place your original strategy still works. Incidentally, this type of analysis, the actions and experience that follow is precisely how you become THAT kind of investor anyhow.

Troy Durrette · Answer

Come to Atlanta, and when you get here, let's JV.  Good luck

James Wilcox · Answer

@Christian B Powe welcome to BP and REI. It seems you are very eager to learn and grow in REI. That is great to see! However, why are you considering moving just for REI? Yes the taxes maybe higher, but that doesn't mean there are not plenty of deals to be had in your own backyard. There are plenty of people making money in REI that live in New Jersey. If you have to move just because taxes are making your business impossible than you have more to learn. Also what is wrong with being an out of state investor? I encourage to invest in places you are familiar with first though.

"Southern" and "Midwest" states tend to have lower entry points into properties generally. Coming up with 20% down payment on a 100k real estate purchase is easier than for a 300k purchase.

Sheryl Merritt · Answer

@Christian B Powe If you'd like to begin seeing what's available in the Raleigh/Triangle are of North Carolina, I'd be happy to assist.

Regards,

Sheryl

Dawn Brenengen · Answer

@Mark Callazzo What part of NC does he invest in?

Mark Callazzo · Answer

@Christian B Powe one of my clients swears on North Carolina. He lives in New Jersey and travels down to North Carolina a few times a month to check on his properties. If you want to relocation, but aren't ready just yet, NC might be a good place to start rolling out your business.

Mike Hurney · Answer

@Christian B Powe nothing next to me for sale now but if that lottery ticket works out for you, then you should make an offer. I'm just North of Boston.

Raquel Maloon · Answer

Hello,

I agree with Jim. While I'm just in the learning phase I have many friends that live and and started their REI in NJ and ate doing well. Start in your own backyard and then expand.

Russell Brazil · Answer

I'm partial to the DC Metro area. We are a high cost area to live in, but the higher salaries more than make up for it, thus creating a more affordable situation than say San Fran, LA, NYC, Boston.

Where should I move? Next door to you?

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