If you could move anywhere in the US...

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If you could move anywhere in the US...

Marianne Lopez-Henthorn
Rental Property Investor · Fort McMurray Alberta, Canada · Member since 2018 · 62 posts · 26 votes

I'm sorry if this is a very general question, but where would you move to if you could move anywhere in the US and start real estate investing?

Backstory: I am Canadian and my husband is American. We currently live in Alberta, Canada. He is a Canadian permanent resident. We don't have kids yet, but plan on starting a family next year. I have a very good, high-paying job but I'm not fulfilled doing what I'm doing and have always had a passion for real estate. I own a condo where I live and one outside of Vancouver, Canada. Looking to buy another condo there next year. My husband will soon be going back to school to study Physiotherapy.

Disclaimer: I love Canada and it's an amazing country with so much opportunity. However, I would like to start a real estate investing journey, and it's just much more financially difficult here.

We are open to moving anywhere in the US. We've traveled through the US quite a bit already, but we know there's so much more to see.

I've used the Niche app as a great tool, but I find the best real answers come from personal experiences :)

Tl;dr looking to move anywhere in the US with the following criteria:

- Good for families (safe, good public schools)

- Good place to invest in real estate (job growth, favors landlords, population growth)

- preferably a major city or at least the suburb of a major city

- culutrally diverse (I'm half Filipina/half German, husband is 1/4 Mexican and 3/4 white)

- good schools

- low state income tax

- lots of parks and greenery (originally from Vancouver, Canada)

- last but not least...lots of good restaurants!!! My favourote hobby is eating good food ;)

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Calvin Lin
Investor · Raleigh, NC · Member since 2015 · 81 posts · 210 votes
6y
 hi, I always use the Uhaul inbound vs outbound truck rate differential to see where people are headed in general as far as relocation goes.  You want to avoid those locales where there is a huge difference between outbound (a lot of) and inbound (very little of).  Of course this isn't everything but it is a good starting point.  As you can see below avoid NE or coastal areas due to cost, focus in inland locations.

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  • Scott Mac
    Austin, TX · Member since 2019 · 5k+ posts · 5k+ votes
    6y

    Hi Marianne,

    San Antonio TX is a nice hometown.

    Anywhere from the less expensive (more affordable) south side to the more expensive suburbs.

    If you fly in to have a look, motels and good restaurants abound. Plus they have the interesting River Walk. The south side tends to be more culturally Hispanic, but don't let that fool you...it's very American and a decent place to live.

    It's also home to the historic Alamo: https://www.youtube.com/watch?v=QYtguIsp2B8

    Good Luck!

    9Reply
  • Account Closed
    Realtor · Portland, OR · Member since 2020 · 87 posts · 43 votes
    6y

    @Marianne Lopez-Henthorn Tuscon, AZ. Land to build. Properties to BRRR. CA CLOSE, FLAGSTAFF CLOSE. NICE AIRPORT.

    4Reply
  • Marianne Lopez-Henthorn
    OP
    Rental Property Investor · Fort McMurray Alberta, Canada · Member since 2018 · 62 posts · 26 votes
    6y

    @Scott Mac thanks for your input! I've heard great things about San Antonio and its real estate market too! Will be putting it on our list!

    2Reply
  • Michael King
    Rental Property Investor · Navarre, FL · Member since 2019 · 913 posts · 640 votes
    6y

    I like Vancouver, I've visited often. It's very reminiscent of Sydney (Aust). 

    Budget is probably going to be the biggest part of the equation for you, and where you can earn the dollars. 

    If I was going to pack up and move into the unknown - without thinking about budget - I would personally consider Hawaii, Colorado, Montana, Florida, Texas, in no particular order. I like the outdoors, scenery and warm climates. Right now I'm tied to Missouri because of my work and kids' education (don't want to uproot them from schools and friends anymore).

    1Reply
  • Marianne Lopez-Henthorn
    OP
    Rental Property Investor · Fort McMurray Alberta, Canada · Member since 2018 · 62 posts · 26 votes
    6y

    @Benjamin Maciel thanks for your input! We'll look into the Tuscon area. I've been to Santa Fe and loved it! Also love Flagstaff!

    1Reply
  • Marianne Lopez-Henthorn
    OP
    Rental Property Investor · Fort McMurray Alberta, Canada · Member since 2018 · 62 posts · 26 votes
    6y

    @Michael King I miss Vancouver a lot! If I had the budget for it, Vancouver is still a good place to invest. Especially in the suburbs.

    Hawaii is a dream. We love it there. It may be an end goal but out of our budget right now. I also really like the idea of Denver - another great city..not a huge fan of their airport though lol. Texas and Florida are probably on the top of our list right now because of their affordability and opportunity.

    Thanks for your input!

    0Reply
  • Calvin Lin
    Investor · Raleigh, NC · Member since 2015 · 81 posts · 210 votes
    6y
     hi, I always use the Uhaul inbound vs outbound truck rate differential to see where people are headed in general as far as relocation goes.  You want to avoid those locales where there is a huge difference between outbound (a lot of) and inbound (very little of).  Of course this isn't everything but it is a good starting point.  As you can see below avoid NE or coastal areas due to cost, focus in inland locations.

    32Reply
  • Jordan MoorheadBusiness Member
    Real Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votes
    6y

    @Marianne Lopez-Henthorn I moved to Austin from MN and to MN from KY. Follow the opportunity!

    [email protected]512-888-9122
    The Moorhead Team5140 Reviews
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    3Reply
  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    6y

    Washington DC metro area. Highest incomes in the country by far. Housing trades at a very reasonable 4.5x income. Some of the best public school systems in the country in the DC suburbs.  Tons of green space and parks, particularly on the Maryland side of the border.  Amongst the lowest risk real estate markets in the country. 

    [email protected]301-893-4635Podcast Guest on Show #192
    District Invest Group545 Reviews
    WebsiteView Page
    9Reply
  • Vincent A. Cipollone
    Investor · Washington, DC · Member since 2020 · 15 posts · 24 votes
    6y

    Anywhere in Florida. Throughout this whole pandemic, they were the last to close and the one of the first to reopen. My mom lives in my home outside the Jacksonville area and she tells me it's largely business as usual. There's no state income tax, the roads are (mostly) wide open and without potholes, and the weather is fantastic. If you live in South Florida, you're more susceptible to hurricanes but it's a small price to pay to live where the rest of the world vacations. There is also Disney in the middle of the state if you're into that. Also, outside of Miami, the home prices are incredibly reasonable. There are even tons of Canadian snowbird from Ontario and Quebec in the Ft. Lauderdale area!

    I can't say enough good things about Florida.

    8Reply
  • Alan Brown
    Rental Property Investor · NY MA CT VT MT, MO · Member since 2015 · 200 posts · 116 votes
    6y

    @Russell Brazil, I feel like an idiot, but I don't remember hearing that metric you used there:  prices at 4.5X income.  Like, median income v median home prices?  Single person income or family?  Say more, if you would, and where you found it... Sounds very interesting.

    3Reply
  • Victoria SealePro Member
    Santa Fe, NM · Member since 2017 · 16 posts · 1 vote
    6y

    Here’s my two cents......i live outside Santa Fe NM. Love it here. Tons of open space and room to roam. The perfect balance of 4 seasons for me, and it isn't humid. Rental market is very tight here. More apartments are in the works but it will take a while to fill the need. It’s expensive. Not great public schools. Business is based much on tourism, and it’s the state capital so lots of government workers. I don't have children so schools aren't a concern. There is so much going on here culturally for the size of the town. Diverse ethnic groups. Albuquerque is the big city in the state, but it’s too big for me and too hot. I dont think the public schools there are stellar either. I hate to say that, but I wouldn’t want to give you bad advice. 

    I grew up in San Antonio, and it was a wonderful place to grow up, but now it is really big and sprawling. The traffic is much worse, and there seems to be a lot of road rage there. I think you can google which towns have the worst road rage in the US. It’s very hot and humid!

    I lived in Austin for 7 yrs from 1982-89 finished undergrad and stayed on. It was a gorgeous place to live!!! I could get across town in 10 minutes at 4:45pm. NO more!! Traffic is terrible. Too many people. No parking. The infrastructure hasn't kept up with the growth. A friend lives just south of the river, and it can take her 45 minutes to go less than 2 miles from work to home. If any of the people i know who live there sold there homes, they couldn't afford to buy something else. Prices ridiculous. 

    Arizona is gorgeous. I couldn't handle the heat in the south, and I’m not interested in big cities.

    I love where I am, and I wouldn’t want to be anywhere else. But being in my late 50s, I’m in a different place in my life than you are. 

    Best of luck finding the perfect place!!

    Victoria Seale

    1Reply
  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    6y
    Originally posted by @Alan Brown:

    @Russell Brazil, I feel like an idiot, but I don't remember hearing that metric you used there:  prices at 4.5X income.  Like, median income v median home prices?  Single person income or family?  Say more, if you would, and where you found it... Sounds very interesting.

     Yeah take median home price and divide by the median household income. It is sort of like a P/E ratio for housing. (Price to earnings ratio).

    Im estimating on memory, so dont take these numbers as fact, just estimates....but like NYC, San Fran and LA trade in the 9-12x earnings area, Boston and Seattle like 6-7x earnings. DC at 4.5x is rather low in terms of a multiple and ends up right around the median for the country.

    [email protected]301-893-4635Podcast Guest on Show #192
    District Invest Group545 Reviews
    WebsiteView Page
    5Reply
  • Joe Cassandra
    Rental Property Investor · Woodstock, GA · Member since 2017 · 517 posts · 772 votes
    6y

    Anywhere in the Southeast (maybe besides most of Alabama and Mississippi) are great. 

    I'm in North Atlanta, and there are tons of family-oriented neighborhoods with top notch schools. 

    North and South Carolina are beautiful to live in with mountains on one side, beach on the other, cute downtowns in Charlotte, Greenville, Charleston. If we leave GA, we'd go right to Greenville, SC or Charlotte, NC in a heartbeat (we have 3 kids under 5)

    5Reply
  • David Shapira
    New to Real Estate · Brookline, MA · Member since 2019 · 26 posts · 15 votes
    6y

    Here's an interesting blog post on the subject. 

    https://www.biggerpockets.com/...

    2Reply
  • Betty Cao
    Member since 2020 · 2 posts · 2 votes
    6y

    Hey @Calvin Lin, this is a great idea! Would you be able to share any other points of analysis you have found helpful this far?

    I lived in Austin for 5years and am on a mission to find my 'next Austin' over the next couple of years. Raleigh has been on my list for a while -- went to undergrad there, and it seems like the city (along with Durham) are in growth mode.

    So far, I've looked at population growth via census info, along with size of city (medium to large), level of education/schools nearby, and companies that have a presence in those cities. Would love for some more insight on metrics/analysis to start tracking.

    Thanks!

    2Reply
  • Susan Maneck
    Investor · Jackson, MS · Member since 2014 · 1k+ posts · 769 votes
    6y

    I'm moving to Tahoe soon but I'm keeping my investments in Mississippi. Right now the county I live in has 900 cases of Covid whereas El Dorado County in California has less than 70 cases. I don't think I can afford  real estate there however, other than the condo I bought four years ago. I have my eye on a four-plex in South Lake Tahoe but I don't think I can qualify for that much financing. 

    1Reply
  • Marianne Lopez-Henthorn
    OP
    Rental Property Investor · Fort McMurray Alberta, Canada · Member since 2018 · 62 posts · 26 votes
    6y

    @Calvin Lin This analysis tool is awesome! Thank you! Very creative. I've actually been considering the Raleigh area.

    1Reply
  • Marianne Lopez-Henthorn
    OP
    Rental Property Investor · Fort McMurray Alberta, Canada · Member since 2018 · 62 posts · 26 votes
    6y

    @Jordan Moorhead totally what we're trying to do!

    1Reply
  • Marianne Lopez-Henthorn
    OP
    Rental Property Investor · Fort McMurray Alberta, Canada · Member since 2018 · 62 posts · 26 votes
    6y

    @Russell Brazil excellent numbers and opportunity. However, we're probably looking for a place with a lower barrier to entry financially, especially as I'll be leaving my job to pursue this full-time eventually.

    0Reply
  • Marianne Lopez-Henthorn
    OP
    Rental Property Investor · Fort McMurray Alberta, Canada · Member since 2018 · 62 posts · 26 votes
    6y

    @Vincent A. Cipollone Florida is high on our list for sure. I'd definitely like to spend some time down there once the borders are open and we can travel. Hopefully once it gets to -40 Celcius here!!

    I know the hurricanes are something we're going to have to learn about and battle against, but it comes with the territory.

    I know lots of Canadians snowbird down there...Phoenix, too. Definitely can't blame them! Lol

    Thanks for your input!

    0Reply
  • Marianne Lopez-Henthorn
    OP
    Rental Property Investor · Fort McMurray Alberta, Canada · Member since 2018 · 62 posts · 26 votes
    6y

    @Victoria Seale oh we just loved Santa Fe! It does seem quite pricey, but what a nice and laid-back place!

    I'm definitely a city girl at heart. However, the city I'm from had a great sky train system, so I didn't own a car until I moved! Being stuck in traffic is definitely not my idea of a good time! Something I'll have to take into consideration for sure.

    Thanks for your input!

    0Reply
  • Marianne Lopez-Henthorn
    OP
    Rental Property Investor · Fort McMurray Alberta, Canada · Member since 2018 · 62 posts · 26 votes
    6y

    @Joe Cassandra We've also really been considering Charlotte and Raleigh. Atlanta has come up a few times too.

    I do worry about the crime, though. I'm afraid I won't be as "street smart" coming from Canada! My husband is from Memphis and I unfortunately know first-hand how dangerous some places can be.

    I'll take a look into Greenville, SC.

    Thanks for your input!

    0Reply
  • Marianne Lopez-Henthorn
    OP
    Rental Property Investor · Fort McMurray Alberta, Canada · Member since 2018 · 62 posts · 26 votes
    6y

    @David Shapira That's a huge factor in decided to spend some time State-side! My taxes often reach 40%! Don't get me wrong, I really appreciate our health care system, but I'm just looking for a different opportunity.

    Thanks for the link!

    1Reply
  • Ujwal Velagapudi
    Investor/Agent/Entrepreneur · Dallas, TX · Member since 2016 · 464 posts · 564 votes
    6y

    I've thought about this as well and where to settle down eventually. I think Texas and Florida are a couple of the best states. Great for business owners, no income tax, excellent weather, and a huge growth over the past couple of decades. Texas especially has a lot more capacity for growth given its size. I live in Dallas now and it seemed like a great place to invest in 10, 20 years ago but still can be good in the future. Austin does seem overpriced but I like the city, and if you run your own business you could probably work a bit outside of the city and find some great deals. 

    3Reply
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