ADVICE needed- Wanting to move to a city I can succeed in!

Austin, TX · Member since 2017 · 17 posts · 2 votes

Good evening all!

I recently met with a realtor and found out (not much to my surprise) that I, along with many other middle-class folks are basically priced out of my area and being pushed further and further out. I live in Austin, TX. I'm really getting tired of this and know that I could do my job (sales background with now AR/collections experience) anywhere in the US. My current and most immediate REI goals are MF house-hacking with a long-term to buy and hold properties.

I'm looking for an area anywhere in the US with a decent job outlook and growth, lower cost of living and median home prices (especially for MF) and an overall fun place to live. My GF and I are extremely mobile, no kids, and a couple of pups. I'm really excited to see what you all come up with!!

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David IvyPro Member

Real Estate Broker · Austin, TX · Member since 2016 · 353 posts · 699 votes

@Brian Coleman

What about San Antonio? It definitely has a decent job and growth outlook. According to data from the ACCRA Cost of Living Index, it costs overall 11% more to live in Austin vs. San Antonio. Moreover, housing in Austin is overall 22% more expensive in Austin vs. San Antonio.

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Account Closed
Investor · Scottsdale, AZ · Member since 2016 · 1k+ posts · 885 votes
9y
We have an Owner financed available in Kyle. Much more reasonable than Austin.
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Brent M.
Investor · Hayward, CA · Member since 2015 · 83 posts · 72 votes
9y
Www.best-cities.org
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Brian Coleman
OP
Austin, TX · Member since 2017 · 17 posts · 2 votes
9y
@Ken Min I would be up for that except the over 1hr commute to my current job and the fact that I genuinely want out of Austin more and more as the days go by.
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David IvyPro Member
Real Estate Broker · Austin, TX · Member since 2016 · 353 posts · 699 votes
9y
@Brian Coleman
What about San Antonio? It definitely has a decent job and growth outlook. According to data from the ACCRA Cost of Living Index, it costs overall 11% more to live in Austin vs. San Antonio. Moreover, housing in Austin is overall 22% more expensive in Austin vs. San Antonio.
3 Reply
Alexander FelicePro Member
Guy with Great Hair · Austin, TX · Member since 2013 · 2k+ posts · 4k+ votes
9y
I just went through this same thing.
Needed a town with great job opportunity (I do finance and she is a nurse)
low cost of living
massive population growth
and we have no kids.
Ended up in Las Vegas! met all our needs and we absolutely love it so far. It's not a great town to invest in, but it's easy enough to buy rentals out of state and still live/work here.
[email protected]Podcast Guest on Show #301
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Brian Coleman
OP
Austin, TX · Member since 2017 · 17 posts · 2 votes
9y
@David Ivy I am not the biggest fan of San Antonio either. I have grown up in Texas and have seen everything from Denton to McAllen, it's time for a change. If you were in my position and could go anywhere with my intentions, where would you go? Sky's the limit!
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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
9y
try the upper mid west Like NW Indiana stay out of IL and those crazy real estate prices and tax's
nice semi rural setting you can buy a house hack multi for 125 to 150k no problem yet 45 minute drive to Chicago and all the neat stuff a big city has to offer.
you can come to Orygun a little rural here is 200k and under.. lots of Texans move here LOTS.
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Scott Steffek
Flipper/Rehabber · Crown Point, IN · Member since 2009 · 482 posts · 216 votes
9y
Brian,
I live and work in Northwest Indiana. We have just about anything you'd want. Houses for $60k and up to $1M. Plus everything in between. We're only about 40 minutes from Chicago. Taxes are far less in Indiana than Illinois. I moved out of Illinois over 30 years ago out and it's one of the best things I ever did. Lowell Indiana is a mixed farming town and a suburban area. It's a sleepy town and the prices are very reasonable. Crown Point is a great town too. Houses from $100k and up as far as you want to go. PM if you'd like more information. Best of luck to you.
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Jeff Schechter
Developer · Nashville, TN · Member since 2016 · 484 posts · 406 votes
9y
I left Austin last year, as I was working our turnkey biz remotely....flying back and forth to Indy. Eventually, I got tired of the travel, and just made the leap. I miss Austin, but don't miss the prices and the summers. Indy is a great town!
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Alexander A.
Investor · Indianapolis, IN · Member since 2015 · 143 posts · 82 votes
9y
I left Austin and moved to Indy about 9 months ago. Since then, I have increased my monthly cash flow by over $2k. No joke.
I was fortunate enough to be able to cash out from a house I owned in East Austin, used that money to buy 2 rental properties in cash and also lowered my primary mortgage by over $500.
My wife and I couldnt be any happier. We dont have any kids yet either, just have 2 pups just like you.
We made a big life decision to that would impact our financial future and set the path to financial freedom. For us, it was moving to the midwest, decreasing bills, increasing cash flow and slowly building an empire (mini empire) of rental properties.
Its also funny you mention as the days go by, you just want to leave Austin more and more. Same thing happened to me, that means you are definitely ready to get out, just need to pull the trigger.
Good luck bud!
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Brian Coleman
OP
Austin, TX · Member since 2017 · 17 posts · 2 votes
9y
@Jay Hinrichs, @Scott Steffek, @Jeff Schechter, @Alexander A.
Looks like everyone here is pointing to Indiana! :D
I have been looking the last couple of evenings and I will say that the area looks promising! I've also got my eye on NC, mainly the Raleigh/Durham area as the job market is booming, cost of living looks to be considerably lower, and I would LOVE to live hours away from the beach and the mountains. Does anyone know how the Raleigh/Durham market looks for house hacking or know someone currently in the area who might be able to shed some light?
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Scott Steffek
Flipper/Rehabber · Crown Point, IN · Member since 2009 · 482 posts · 216 votes
9y
Brian,
One warning about NW Indiana. We have cold winters!!!
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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
9y
@Brian Coleman check out Charleston SC.. I love that area and weather is more Texas like
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Jason Hsiao
Investor · Pasadena, CA · Member since 2015 · 269 posts · 189 votes
9y
Hey @Brian Coleman, I like RDU and Charlotte area quite a bit. I left Austin in 2011 so I get the sentiment (although for a different reason). I have a manufacturing business that takes me to different parts of the country and personally I like North Carolina and Tennessee particularly Nashville quite a bit and looking to expand or partner with someone in those areas. RDU/Charlotte/Nashville have all seen quite a bit of growth but not at the level of Austin. Real estate prices should be lower and hopefully low enough to meet your needs. I know those areas will meet your job growth criteria for sure.
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Cory Delaney
Austin, TX · Member since 2016 · 6 posts · 2 votes
9y
@Brian Coleman, I've been feeling the same way lately. I'm able to work remotely a couple days in my current full time job, and thinking about leveraging that to work remote full time and move somewhere with lower entry costs
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Brian Coleman
OP
Austin, TX · Member since 2017 · 17 posts · 2 votes
9y
@Cory Delaney Y'all work-from-home people must be programmers or something! If I could score a gig like that I'd be set! My background is sales, but currently employed in accounts receivable. I need to get in where y'all are!
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Cory Delaney
Austin, TX · Member since 2016 · 6 posts · 2 votes
9y
@Brian Coleman Hit the nail on the head, I'm in IT and most of us have the same flexibility. Not the same for our other business units
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Maxwell Lee
Real Estate Investor · Miami, FL · Member since 2013 · 474 posts · 214 votes
9y
A lot of options here...I would look all over the midwest and FL. Indy, KC or Columbus are safe bets for cash-flow and growth. Cincy, Cleveland, STL, NWI and more are all worth looking into.
Tampa, Orlando and Jax still offer great yield, strong growth and no state income tax.
You asked about Raleigh...the outlook is very good there as well but will likely be a little tighter on cash-flow. Good luck!!
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Eric Delcol
Investor · Tampa, FL · Member since 2016 · 334 posts · 215 votes
9y
@Brian Coleman
Check out my post on the Best US cities for Growth:
Map of Best US Cities for Growth
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David Faulkner
Investor · Orange County, CA · Member since 2015 · 2k+ posts · 3k+ votes
9y
I'm going to go against the grain here to try to level set expectations. Succeeding in REI is not easy, in any market ... if your theory is that you have not been able to succeed because of the market you are in, and if you can somehow find that magical market where it will be much easier and more profitable, then you are setting yourself up for disappointment. If you want to move somewhere else because you'd rather live there or it would better meet your lifestyle in other ways, then move go ahead and move there, but don't do it just for REI thinking that it will somehow make things any easier for you.
1 Reply
Brian Coleman
OP
Austin, TX · Member since 2017 · 17 posts · 2 votes
9y
@David Faulkner You think that I'm looking for the perfect place kinda like timing the market. I know this isn't the way to go. I'm more looking for a market I can actually play in. The Austin Texas area is just too expensive so I can't even afford to get started! I am looking for a city that, much like myself, is a little younger and has more room for growth. That and I need something new. Austin is boring.
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Kris Wong
Rental Property Investor · Austin, TX · Member since 2016 · 361 posts · 394 votes
9y
@Brian Coleman my sister in law is a realtor in the RDU area (lives in Apex) and she's awesome (for residential buyers, less expertise on the investment side). If your seriously considering the area I could (virtually) introduce you. I can tell you they love it there, and Raleigh is on many of the top lists for job and economic growth.
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Blake Grubbs
Investor · Wake Forest, NC · Member since 2015 · 7 posts · 2 votes
9y
@Brian Coleman I'm a realtor in the Raleigh/Durham area. Our area is thriving, and it is an awesome thing to be able to be at the beach or the mountains in under 3 hours! If you want to take a serious look at Raleigh (or Durham, although I would recommend Raleigh first), message me and I can give you an idea of what type of house that would be available to you, depending on whether you want to be in the downtown area or a little farther out in a suburb. Best of luck to you! I know you would love Raleigh.
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Tyler Ansell
Investor · Tampa, FL · Member since 2015 · 293 posts · 175 votes
9y
Why not keep your job and invest in some of the surrounding towns around Austin? If you can't afford it then half the other people can't either but they still have to live somewhere...I bet you could find a bunch of deals within 35 minutes of Austin that would do just as well as picking up and moving your life.
If homes are selling for 250k+ but your 75% of the employees in 75% of companies are only making 50k then they have to live somewhere, aka apartment or further from the city. It just doesn't make sense to me to pack up and move or try to invest remotely when you can surely find a deal right where you're at.
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Michael Macklin
Mortgage Consultant · Raleigh, NC · Member since 2016 · 181 posts · 53 votes
9y
I live in Raleigh and feel there's great potential here
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