If u had no ties 2 any city,Where would u move 2 start investing?

41 Replies

Lets just say you bribed your girlfriend with a puppy and she said she's willing to move anywhere in the country to support your real estate investing career.....Where would you go? 

There are investors in every city, including San Diego. 

The key things are for you to grow your network and build your team. 

The worse thing you could do is to move to a city, where you spend time and money building your team, and she decides it's not right for you guys.

I would choose to move to where I wanted to live (in my case San Diego (Poway or Leucadia)) and then invest local. 

If I had the experience to be comfortable with OOS RE investing I would still choose to move to where I wanted to live and then choose my RE investment market.

Quality of life is #1. ROI on RE investments is somewhere lower than quality of life.

@Chris T. @Dan Heuschele I definitely agree with you both. I didnt do a good job of explaining my entire situation. Im just in a bit of a pickle as i just finished a career in sports. Im in the process of getting my real estate license(unemployed as of now) which means its almost impossible to get a loan for a house hack on a small multifamily. So thats why id like to go to a different city to buy a small multifamily cash (under $350k) and house hack because in San Diego you can't even get a single family home for that price. Get a couple properties under my belt to be considered a full time investor to then approach lenders with concrete proof of experience and knowledge.

I wanted to live in DC and then moved here.

"Lets just say you bribed your girlfriend with a puppy and she said she's willing to move anywhere in the country to support your real estate investing career.....Where would you go?"

Somewhere my wife can't find us. Bada Bing! 

Memphis TN for purely investing purposes.

Originally posted by @Gabriel Farfan :

@Chris T. @Dan Heuschele I definitely agree with you both. I didnt do a good job of explaining my entire situation. Im just in a bit of a pickle as i just finished a career in sports. Im in the process of getting my real estate license(unemployed as of now) which means its almost impossible to get a loan for a house hack on a small multifamily. So thats why id like to go to a different city to buy a small multifamily cash (under $350k) and house hack because in San Diego you can't even get a single family home for that price. Get a couple properties under my belt to be considered a full time investor to then approach lenders with concrete proof of experience and knowledge.

Part of my point was that you do not need to live where you chose to RE invest.  I do not recommend OOS RE investing for those that do not have significant RE experience. 

If you believe the best RE market is the Midwest (I believe it is probably the worse) there is nothing stating you have to live in the Midwest to invest there.  Get some experience, analyze the markets, and invest where you want to invest.

However, I would move to where I wanted to live.  Maybe you like Kona, HI (beautiful, sunny, good SCUBA/snorkeling great place to live when not impacted by volcanoes or tidal waves).  Maybe the Sierras are more your cup of tea, Reno is real nice especially in the summer.  Tahoe has skiing in the winter and other Sierra recreation opportunities in the summer.  North shore, Oahu is tough to beat for surfing. 

Everyone has their own ideal place to live.  Similarly there are many views on best places to invest in properties.

Historically San Diego is tough to beat for buy n hold ROI and as a great place to live.

@Gabriel Farfan I see you want to househack a small multi.  INVESTING in real estate (not to be confused with executing a property flip) is a long game - don't pick your city based on where "the best place to invest in real estate is."  I Suggest you do this:

1. Figure out where you have an advantage (or can get one) over every other Joe or Sally Investor out there.  Family, industry knowledge, contacts, ins with whatever minority communities gather in that city...

2. List out the areas you'd like to live.

3. Look at the intersection.  Widdle that list down to places you'll be able to buy two+ properties with your capital.

Ideally, you'd optimize to just live where you want to live and make it work.  In terms of investing, I'd argue that #1 is of primary importance.  The majority of real estate investing money - like most every other type of investing or commerce activity - is made by owning assets that someone later wants to pay more for than you did.  To do that quickly, you need an advantage to acquire desirable assets ... or you need an operational gift to efficiently increase their value.

Easier to do both when your assets are physically close to you.

for what I do and like thats easy .. if i was 25 years younger i would move to Charleston SC.

I love California having grown up in cupertino and lived in the Napa valley all of the 90s at one of the top golf resorts in the state..

but for real estate investing in my Mind charleston is a very good place right now.. for WHAT I DO !!!  plus i love the city

I agree with @Jay Hinrichs , Charleston is awesome for so many reasons. Today I would move to St. Louis. I'd buy a loft or 1 bedroom downtown and live there and invest in the many up and coming areas of the city. In five years, once well established, I'd move on. @Gabriel Farfan you could move somewhere for a few years where you can find affordable opportunities, dig yourself in with multiple purchases, and then move on once all systems are in place, if you deemed it necessary. I do wish I lived in more corners of the country and world during my younger years. Keep us posted on your decision(s), this is exciting! 

~ Mike Bargetto

For what I do , mobile home parks, I would do the Houston Metro ( currently me ) or Myrtle Beach South Carolina ( mobile home parks) .  Good luck on wherever you go . 

Every city has opportunity so specifically based on where I would like to live, I would say somewhere in Colorado or SoCal

@Gabriel Farfan I think you are asking a fair question and getting silly answers from a few local posters who want to rationalize that their isn’t a reasonable reason to invest out of San Diego.

In you circumstances I would seriously consider the Southeast part of the US. They have many areas that are growing with still affordable prices and good rent multiples. Download the Zillow data .CSV’s and do your own analysis

@Gabriel Farfan I have traveled the country extensively and have friends that have lived in many cities, including San Diego. You have the best climate in the continental US. Pretty much wherever you go will be a down grade. Make sure your girlfriend knows that ahead of time. 

If you must move to invest (which you don't need to) then I would suggest some place in the South Eastern US. Lots of employment and population growth due to weather and there are many affordable cities. Warmer weather, but it will humid which is way different than you are used to in San Diego.

Good luck.

If you were looking solely at making money by doing flips, then look at the list of cities that have the best flip profits and high flip activity. Realtor magazine just published the most recent list today

Updated 30 days ago

The following are the best housing markets for home flippers, according to realtor.com®: 1. Nashville, Tenn. Ratio of flips to all home sales: 4.1% Average flip profit: $87,200 2. Fresno, Calif. Ratio of flips to all home sales: 3.5% Average flip profit: $53,200 3. Palm Bay, Fla. Ratio of flips to all home sales: 3.3% Average flip profit: $71,500 4. North Port, Fla. Ratio of flips to all home sales: 3.3% Average flip profit: $85,300 5. Baton Rouge, La. Ratio of flips to all home sales: 3.2% Average flip profit: $70,000 6. Chattanooga, Tenn. Ratio of flips to all home sales: 3.1% Average flip profit: $65,800 7. Los Angeles Ratio of flips to all home sales: 3% Average flip profit: $169,400 8. Lubbock, Texas Ratio of flips to all home sales: 2.7% Average flip profit: $46,000 Source: Realtor.com

I'm strongly considering Myrtle beach for both investing and moving. The plan is to get some properties to rent out and then move there. I'm actively looking now. The population is exploding and there's tons of new construction. Lots of beach, lots of golf, lots of sun, lower cost of living, and better quality of life in my opinion. My wife is definitely on board. I've also heard from numerous people that charleston is like the fastest growing area in the US. Tons of new restaurants and stuff to do. 

Originally posted by @Jon Minerick :

If you were looking solely at making money by doing flips, then look at the list of cities that have the best flip profits and high flip activity. Realtor magazine just published the most recent list today

 He is right on the money. And the money is in TEXAS - everything's bigger and better in TEXAS

Housing Will Likely Surge in These Cities DAILY REAL ESTATE NEWS | FRIDAY, MAY 25, 2018

The South boasts many of the fastest-growing cities in the U.S., where unemployment is low and companies are hiring. Home prices are rising in many of these cities too, as new residents compete for the limited number of homes for sale.

San Antonio, Texas, is the nation’s fastest growing city lately. Builders are putting up single-family homes in several master-planned communities in the city, and homes priced under $250,000 are getting snatched up in a matter of days. Phoenix saw the second biggest growth with the addition of more than 24,000 new residents.

“Supply is at record lows, and prices continue to climb,” Tucker Blalock, an associate broker at The Brokery in Phoenix, told realtor.com®.

The 10 fastest-growing cities, based on census data, are:

  1. San Antonio, Texas
  2. Phoenix, Ariz.
  3. Dallas, Texas
  4. Fort Worth, Texas
  5. Los Angeles, Calif.
  6. Seattle, Wash.
  7. Charlotte, N.C.
  8. Columbus, Ohio
  9. Frisco, Texas
  10. Atlanta, Ga. 

The Midwest might be worth a look as well. A very much under appreciated part of the country a far as I'm concerned. Great quality of life with lots to do (sports, museums, restaurants, entertainment, etc.), nice people, relatively inexpensive, quality schools, and central so it is easy to get anywhere else in the country you might like to visit. I live in the Kansas City metro on the Kansas side of the State Line. Bonus - it's a pretty good place to invest in real estate as well.

Chris and Jack, regarding the Myrtle Beach market, its tough. There are deals out there without a doubt, and from what im seeing, if you have the funding, new construction is the way to go. If you look at what the cost of housing is here compared to the income, it is much higher than what I see in many other places. The multi family's are usually so run down and beat to crap yet the asking price is about what you can build new for. Mobile home parks in the close proximity of the Beach are extremely high and those too have years of being neglected. All that being said, the off market stuff would most likely be the best route. The only way I can get many of these on the MLS to make financial sense is to pick up the worst properties in decent neighborhoods and areas. One I picked up in January was listed for a few years and had 300+ views before I got it and had to be gutted and structure redone as well. With a lot of work, its done and worth a lot more than I have in it, but I was also able to shave about $20-30k off the rebuild having my own crew handle a lot of it. Living here since 2000, I can say it is growing. With the landlord/tenant laws being fair and the taxes being low, I dont see it slowing any time soon.

@Gabriel Farfan I grew up in Cincinnati and it is experiencing great growth lately, a lot of people on BP have been singing it's praises including @Brandon Turner who just bought an apartment building in the area. On Tuesday MLS is going to announce that Cincinnati is getting the latest expansion team. The stadium will be built in the West End, could be a good spot to snap up some property in an area that has historically been depressed and may be on the rise.

@Josh Dillingham Its funny you say that. 3 of my teammates from last season signed with Cincinnati this year. I spoke to one of them this week and told him to throw out on twitter for recommendations for a good broker in the area because im definitely interested! Have you invested in your hometown of Cincy?

Originally posted by @Gabriel Farfan :

@Josh Dillingham Its funny you say that. 3 of my teammates from last season signed with Cincinnati this year. I spoke to one of them this week and told him to throw out on twitter for recommendations for a good broker in the area because im definitely interested! Have you invested in your hometown of Cincy?

I haven't invested in Cincy yet but it is a market I will definitely look into when I am ready to expand to larger multi-families in the next few years. Right now I am still getting my feet wet with small multi-families locally here in Southern Vermont (closing on a 5 unit building next month to bring my total to 9 units), but when I am ready to move onto something bigger I will have to look outside my local area because there aren't many large apartment buildings in this area. With all the news swirling about MLS in the last 6 months I have been keeping and eye on Loop Net for the two neighborhoods they had been talking about for their new stadium, Oakley and West End. They have settled on the West End now and from what I hear Don Graber will be in town on Tuesday for a "Major Announcement."

https://texasturnkeyproperties.com/id-do-a-deal-in-houston-every-day-if-i-could/

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