Projected housing market 2030

38 Replies

I'm currently in the Army and will get out in 2020 and looking to invest.  I'm able to move anywhere in the country and  trying to save up 100k before I get out.

My question is where should I start my investing career.  I understand I should look for projected population growth and businesses in certain cities.  But it seems whenever I google cities with projected growth the housing market there is already a sellers and not looking to change anytime soon. 

( I want to move to the Midwest so Idaho, Colorado, Montana, Utah)

I'm having some trouble getting some traction in what to look for.  Any advice would be appreciated.  Thanks!

that's not the mid west its the inner mountain west.

those areas except Montana are or have been growing.. Montana just has such a small population its hard to compare to the other states.

one other area U may want to consider is the Idaho pan handle and jump over the boarder into Spokane WA no state income tax..  incredible out door quality of life..

Welcome to BP @Samuel Viscio !  I'm with @Jay Hinrichs all the way.  Personally Idaho is my go-to right now.  (I'm sure I'm getting annoying in Portland telling everyone about it!)  

Another option you have is that, as a vet, Mountain Home, ID has a large base there and you might be able to find a niche that works for military folks really well.  It's not too far from the Boise market either.  There was a BP podcast recently (a month or two ago?) with a recent vet that is getting into investing and has been very successful so far.  Can't remember the episode though....

Good luck and happy hunting!

Originally posted by @Samuel Viscio :

I'm currently in the Army and will get out in 2020 and looking to invest.  I'm able to move anywhere in the country and  trying to save up 100k before I get out.

My question is where should I start my investing career.  I understand I should look for projected population growth and businesses in certain cities.  But it seems whenever I google cities with projected growth the housing market there is already a sellers and not looking to change anytime soon. 

( I want to move to the Midwest so Idaho, Colorado, Montana, Utah)

I'm having some trouble getting some traction in what to look for.  Any advice would be appreciated.  Thanks!

Yes, you can move anywhere, technically, but what do you plan to do for living once you get out of the military.  $100K is good starting capital to start investment career, but for most people that would not produce enough money to sustain a lifestyle..  

That being said, you do want to select a market where there are job opportunities for you to hold down a job (if you wish) and still have investment income.. 

I suggest that when you get out, rent or buy a camper and spend a month or two tooling around out here.  (And don't forget the National Parks.)

The mountain west is nothing if not beautiful.  

Almost all established markets here have good fundamentals because they are both business and landlord friendly and offer a good quality of life. All the states but Wyoming have positive net migration. With the exception of certain rural areas that lack amenities and communities that depend on energy development, most places in the Rocky Mountain West have attractive fundamentals in the mid to long term.

So tour around and figure out where you want to live.  Cool things are happening all over--in places you might not have guessed--from Tulsa to Reno.

Welcome to BP!

I think the Midwest more the Ohio Indiana Michigan etc area is do for a comeback around cities just because  those cities are so cheap while having walkability, pro sports museum’s etc  (Columbus was just names hottest market in the county and Grand Rapids, Fort Wayne, buffalo and Rochester are always high on those lists) 

I also think walkable small towns near something interesting (Water, Mountains Jobs etc) could make a comeback for the same reasons as above walkable and affordable. 

Originally posted by @Russell Brazil :

Im biased towards DC. Highest incomes in the country.

 If you want to have a corporate career DC is the place to be.. Huge Private sector, and Federal and Local Govt will always have jobs no matter who is in the power.. But if the guy wants to pursue real estate career, and has the freedom to go anywhere in the country, no better place than midwest... I think $100K will go long way over there than here.. 

I would seriously look at Indianapolis. Growing city with lots of production and tech job expansion. Lots of tourism from Sports to Conventions. Lowest unemployment in the midwest. Relatively inexpensive cost of living relative to other larger markets. There are a lot of people making money in Indianapolis from developers, flippers, and buy/hold investors.

I agree 100% with @William Hochstedler

When I left the Marines I made the mistake of settling down as soon as I got out and didn't take advantage of the RARE opportunity you have when you first EAS. You'll have plenty of funds saved up-take 1% of that and go explore a half-dozen areas and see which one speaks to you. From a practical investing standpoint it makes sense to do some ground research and from a more ethereal standpoint it will help decompress and transition back to civilian life, giving you time to take it all in. There likely won't be too many opportunities to just walk away and start fresh in life with zero mortgages, jobs, commitments, bills, etc. so grab it while you can!

Best of luck!

Mathew 

@Samuel Viscio

Wherever you land, don't forget to talk to a lender sooner rather than later. Your VA benefits can be used to buy a small multifamily home where you can live, adjust to civilian life, and earn tenant income! That gives you a great introduction to real estate investing and land-lording!

Originally posted by @Jay Hinrichs :

that's not the mid west its the inner mountain west.

those areas except Montana are or have been growing.. Montana just has such a small population its hard to compare to the other states.

one other area U may want to consider is the Idaho pan handle and jump over the boarder into Spokane WA no state income tax..  incredible out door quality of life..

That was my reaction as well. Midwest is Illinois, Indiana, Iowa, Missouri, Kansas, etc. 

Montana has some booming areas. Missoula, Whitefish, Bozeman, Billings, Helena all have strong growth. They are all smaller towns though, which comes with other issues. 

Originally posted by @Todd Dexheimer :
Originally posted by @Jay Hinrichs:

that's not the mid west its the inner mountain west.

those areas except Montana are or have been growing.. Montana just has such a small population its hard to compare to the other states.

one other area U may want to consider is the Idaho pan handle and jump over the boarder into Spokane WA no state income tax..  incredible out door quality of life..

That was my reaction as well. Midwest is Illinois, Indiana, Iowa, Missouri, Kansas, etc. 

Montana has some booming areas. Missoula, Whitefish, Bozeman, Billings, Helena all have strong growth. They are all smaller towns though, which comes with other issues. 

I fish Montana usually yearly.. I suspect it could be pretty good for MF given that the SFR homes have sky rocketed with all the out of state trophy buyers.. I poked around Missoula a little bit after fishing the Bitterroot.. its like many places hard to find a deal LOL

Samuel,  I'm from Montana and invest in Bozeman.  It's very difficult to find deals in Bozeman right now, but they do exist.  Outside of town toward Manhattan and Three Forks has some good potential for flipping houses, but you have to do the work yourself.  The cost of labor is through the roof in the Valley right now, but that just provides more opportunity for live-in flips or self renovations.  I've been looking to Billings and Butte for potential future investments.  They are both within a two hour drive of Bozeman and have some potential.  

Billings investor/agent here. I would echo what Tyler said above about doing the work yourself or at the very least finding a contractor that you could partner with. The costs of labor and materials in Billings (and much of Montana) are such that it doesn't pencil out most of the time. There are not too many other places you see lawn mower/snow removal guys driving 70k+ rigs and 30k+ trailers........but you do here.

I'd recommend Nampa Idaho. Check out the market data and expected growth.  Its the new bedroom community of Boise after Meridian.  Idaho is a growing blip on the radar screen because many people fed up with the left coast cities of Portland, San Fran and Seattle are eyeing Idaho.  Northern Idaho is beautiful but your dollars will go about $20k-50k more in Nampa comparatively. 

Originally posted by @Matthew McNeil :

I'd recommend Nampa Idaho. Check out the market data and expected growth.  Its the new bedroom community of Boise after Meridian.  Idaho is a growing blip on the radar screen because many people fed up with the left coast cities of Portland, San Fran and Seattle are eyeing Idaho.  Northern Idaho is beautiful but your dollars will go about $20k-50k more in Nampa comparatively. 

 Thank you.  I will look into this.  

Originally posted by @Jacob Edwards :

@Samuel Viscio not sure about market wise, but I do really like Boise. Decent size city, a lot of good travel points surrounding the city if you are into outdoors, hiking, etc.

 That's another thing, I have a lot of research to do.  I want to make money but also want to enjoy the city where I live.  I've been looking at Boise and houses are expensive for starting investors.

Originally posted by @Samuel Viscio :
Originally posted by @Jacob Edwards:

@Samuel Viscio not sure about market wise, but I do really like Boise. Decent size city, a lot of good travel points surrounding the city if you are into outdoors, hiking, etc.

 That's another thing, I have a lot of research to do.  I want to make money but also want to enjoy the city where I live.  I've been looking at Boise and houses are expensive for starting investors.

You are right about Boise being more expensive these days.  We are still "affordable" but prices and rents are both going up.  It all depends on your strategy - there is a lot of potential growth here but you'll be challenged to find some of the high income potential in lower cost areas.  

It has been discussed over and over on this site but it is really a trade off on income and capital appreciation. Right now the Boise area is poised to be the next big growth city in the west, so appreciation is what many are targeting.

I'd also second the mention of Nampa (and add Caldwell).  Canyon County was the other side of the tracks in the last up-market but with prices going up, freeways being widened and companies moving westward, the rent to price ratio in these areas is far better.