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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  • James Carlson
    Real Estate Agent · Colorado | stan.store/JamesCarlson · Member since 2014 · 2k+ posts · 2k+ votes
    6y

    @Marianne Lopez-Henthorn

    I'm certainly bias, but I'd concur with love of Denver. I say it too often, but it's true: We have proximity to the mountains, 300 days of sun, great beer, legal weed, arts, culture, great restaurants and bars, and wonderful urban parks. And compared to Vancouver, Denver's home values are a steal (not something you'd say if you've lived in Denver for awhile.)

    Good luck in your decision! 

    0Reply
  • Brad Piper
    Real Estate Agent · Dallas, Ft. Worth · Member since 2020 · 52 posts · 27 votes
    6y

    FRISCO, TEXAS without a doubt.

    Frisco is one of the fastest growing cities in America. Countless publications have written about this, and many publications have praised the well-rounded suburb that has been exploding in growth. According to realtor.com this city has grown 71.1% over the past 10 years. This city is great location about 30 minutes from DFW International Airport and 30-45 minutes from downtown Dallas. This city is home to the training facilities for the Dallas Cowboys at the luxurious office building and shopping/nightlife complex called The Star. Frisco is also home to many brand new developments for shopping/dining, and it is the relocation zone for many large companies that are looking to north Texas for a cheaper option for their headquarters! Frisco should enjoy some great home appreciation over the next few decades as the brand new PGA headquarters are currently under construction, the city will host a Ryder Cup, and it will hope to be home to more and more collegiate and professional athletic championships.

    0Reply
  • Marlen Weber
    Specialist · Plano, TX · Member since 2020 · 2k+ posts · 861 votes
    6y

    These are great to read. I was born and raised in Santo Domingo, Dominican Republic and have lived in Texas since I moved to the states, about 15 years ago. While I haven't lived in any other states, I have traveled to many and have to say that Texas is such a "homey" state. Souther hospitality perhaps? 

    0Reply
  • Kirsten M.
    Realtor · Albuquerque, NM · Member since 2017 · 121 posts · 68 votes
    6y

    I would echo the few comments I've seen about New Mexico. I've lived in 4 states and 3 countries (not a military brat, I just enjoy a change of scenery every few years) and I always talk about how New Mexico is a great place to live/work/play! Albuquerque is very culturally diverse and has a large Mexican population as well as a number of Filipinos. I'm half Filipino as well and my mom has a lot of Filipina friends in ABQ. 

    ABQ is very inexpensive compared to other cities of similar size and has a lot of opportunity for job growth. Nearly all of my tenants have recently moved to ABQ for jobs in the healthcare sector, government, and movie industry. With that said, the population growth is somewhat stagnant. The income taxes are very low.

    As for schools, Albuquerque Public Schools as a whole aren't known to be "top-notch", but the schools in better zip codes are very good! 

    If you're looking for greenery, you'll have to go to parks or drive about 20-30  into the Sandia mountains will give you all the greenery your Canadian heart desires! :) 

    If you haven't experienced New Mexican cuisine, you must add it to your bucket list.

    2Reply
  • Robert Wright
    Real Estate Agent · Los Angeles · Member since 2020 · 15 posts · 2 votes
    6y

    @Marianne Lopez-Henthorn We live in CA. I’ve been here for about 15 yrs. we love it here, but I’m from Ky and would like to get back to the southeast. My wife is a Cali girl. CA May be the prettiest state for sure imo. However, it’s rather expensive and anything with a decent amount property feels unattainable. Right now we’re looking into the Winston Salem area. Seems ideal for us. I prefer more western NC for the mountains, but WS seem to be rather central for mountains and Charlotte. We’ll miss the Ca coastline, but NCs is beautiful also.

    1Reply
  • Richard Tavetian
    Investor · Austin TX · Member since 2017 · 19 posts · 5 votes
    6y
    Originally posted by @Jeff Bousquet:

    @Marianne Lopez-Henthorn

    There are so many awesome places in the US. my favorites are Charleston, South Carolina and Naples, Florida. Great weather, beaches, and food.

    (I do not know anything about the local economy/taxes/schools/etc)

    I approve this message 😎 Charleston is where it's at

    0Reply
  • Mark Gliebe
    Real Estate Agent · Member since 2019 · 167 posts · 72 votes
    6y

    @Marianne Lopez-Henthorn let's get you investing in Nashville!  

    1Reply
  • Edward Derosa
    Member since 2020 · 4 posts · 2 votes
    6y

    I love Arizona. Has rental properties there. People are nice. Great cash flow. Low property taxes . Low supply of houses and high demand . Population growing at a rapid pace .Great weather (I like hot weather. cant stand cold weather at all)

    2Reply
  • Casey Powers
    Las Vegas, NV · Member since 2018 · 405 posts · 474 votes
    6y

    In the US - nowhere but Vegas baby!

    1Reply
  • Austin Sine
    Real Estate Broker · Kansas City · Member since 2019 · 86 posts · 43 votes
    6y

    If you are factoring in Economic Health, Growth and Supply/Demand into your decision this resource I have put together could be help.

    Top 10 markets 2020

    3Reply
  • Julie Toh
    Specialist · Mortgage Broker Canada · Member since 2015 · 316 posts · 118 votes
    6y
    Originally posted by @Steve K.:

    Denver definitely checks all of your boxes.

    It's funny, I was debating with a friend in Denver tonight about whether Revelstoke or Kelowna was a better place to move to. Grass is always greener I guess! 

     Kelowna...for the good wine. 

    2Reply
  • Julie Toh
    Specialist · Mortgage Broker Canada · Member since 2015 · 316 posts · 118 votes
    6y

    Your response made me smile...it's honest, practical and it's also what my parents (born in Singapore) would say to me. :-)

    3Reply
  • Tanner Malmkar
    Real Estate Agent · Tucson, AZ · Member since 2016 · 6 posts · 5 votes
    6y
    2Reply
  • Steven Lowe
    Real Estate Agent · Scottsdale, AZ · Member since 2019 · 448 posts · 320 votes
    6y
    Originally posted by @Tanner Malmkar:

    Love Tucson.  I'm looking at the Catalina foothills as I type this.  

    0Reply
  • Mitch Harold
    Member since 2019 · 35 posts · 87 votes
    6y

    Florida is a giant trailer park with access to the beach.  Mississippi is a backwards dump.  Do yourself a favor and take those 2 locations off of your list.

    1Reply
  • Daniel A. Abreu
    Flipper/Rehabber · Tampa, FL · Member since 2018 · 56 posts · 16 votes
    6y

    @Marianne Lopez-Henthorn

    Hi Marianne,

    I’m originally from up north, but I’ve lived in the Tampa area for most of my life. After a long stint in Naples, I returned to the Tampa area primarily for the reasons you listed.

    1) Tampa Bay is an amazing area that is continuing to grow. It’s unreal how much there is to enjoy here, and so close to so many other great aspects of Florida. Disney/Orlando are just over an hour away. Beaches, international airports, plenty of festivals, nightlife, and culture are at your fingertips.

    2) schools are fantastic for the most part. I’m biased as I sit on the alumni board for my high school which sits just outside downtown Tampa, but others in the area are great. Several options for University/College. Top tier Medical and Law school in the area.

    3) Plenty of investment opportunities in the area, no matter your strategy. Wholesalers, flippers, AirBnB, long term rentals, all have success. I’m an investor, realtor, and rep for a title agency, as such fully immersed in the community and work with investors daily. Plenty of opportunity here and the surrounding areas.

    4) plenty of great places to live. I’ve lived down on the beaches, in the suburbs, and smack in the middle of downtown. Great experiences in every instance.

    Feel free to reach out if you have any questions about the area. I’d love to help any way that I can.

    1Reply
  • Marianne Lopez-Henthorn
    OP
    Rental Property Investor · Fort McMurray Alberta, Canada · Member since 2018 · 62 posts · 26 votes
    6y
    Originally posted by @Steve K.:
    Originally posted by @Marianne Lopez-Henthorn:
    Originally posted by @Steve K.:

    Denver definitely checks all of your boxes.

    It's funny, I was debating with a friend in Denver tonight about whether Revelstoke or Kelowna was a better place to move to. Grass is always greener I guess! 

    Denver definitely checks the boxes. But housing prices are a little steep there, aren't they? I've visited and it reminds me a lot of Calgary, Alberta being so close to the Rocky Mountains. If I wanted to, I could get a job there in the oil industry (what I currently do), but that's not what I want to do long-term.

    Oooh, I'd have to go with Kelowna on that one! However, you have to deal with forest fires every year, and that takes a toll on your lungs! Revelstoke is much more affordable. I also prefer Kelowna for its proximity to Vancouver, and it's a much more developed city. You have major airport, university, etc. BUT - very expensive! Unless you invest in a condo. I LOVE Canada and am biased with BC, but it's out of my price-range right now. Hopefully someday I'll move back!

    Yeah my friend and I were just dreaming about Kelowna or Revelstoke basically; our wives are definitely not on board and it’s pretty difficult to move to Canada as an American. The attraction for us would be outdoor recreation (mountain biking, skiing, kayaking). The last time I was in Revelstoke was during the GFC and there were some very attractive bargains to be had, but my wife wanted nothing to do with the remoteness. I feel like that area will pop eventually. I didn't realize that about the forest fires, that's unfortunate. We get those here a bit as well but not nearly on the same scale as up there. 

    Denver and Calgary definitely have strong similarities, especially in terms of geography and climate with both being located where the high plains end and the Rockies begin. I remember being reminded of Denver when I was in Calgary. They both share a history of having started during western expansion, and evolved from mining/railroad/transportation hub towns to ranching/agriculture to energy. However from what I know of Calgary, I think the economy there is still more tied to energy than Denver and subject to the booms and busts inherent in that industry, whereas Denver has become more diversified since the big crash in the late 70's/ early 80's. Denver is now a lot bigger than Calgary and is diversified with tech, finance, healthcare, telecommunications, aerospace, advanced manufacturing, tourism, outdoor recreation, transportation/logistics, defense, food and agriculture, and a bustling startup culture.

    Pricing is a little high in Denver compared to somewhere like our midwest/rustbelt, but compared to a place like Vancouver, BC, it's still quite affordable. I'm not sure what your price point would be but entry-level for a SFH here is in the $300k range, $500k and up for multifamily. The median property value is in the low to mid $400's. Deals aren't falling out of trees by any means, we've been in a competitive growth market for a long time, but good deals can still be had if you build a network with local investors and agents, learn which areas are in the path of progress, and both look hard and have patience. Most good deals are traded off market, especially in the small multifamily space, so it's important to align yourself with someone who is established and has access to deals. Using a value add strategy (buying fixers and making improvements/raising rents), I've been able to achieve both cash flow and appreciation which is perfect in my opinion. Rents and prices have been steadily increasing here, the lifestyle and quality of life continues to draw people in, and the job market is strong and diversified.

     You're totally spot on about Calgary! While there are other industries in the city, they seem fueled by the energy industry. You just have to go downtown to see all the towers owned by big energy companies. Consequently, housing prices here continue to decline and have been since 2015. While we still need the oil and gas industry, I know eventually we'll be slowly phased out. Maybe not in my lifetime, but enough that prices will never be where they were pre-2014. That's my opinion, anyway; and I work in the oil field! It's unfortunate, because if it weren't for real estate instability, I would really consider moving to Calgary.

    The whole Okanagan area is booming. There are great wineries, fresh fruit is bountiful, and beautiful lakes. It seems like a great place for vacation rentals too. Not just Kelowna, but Vernon, Peachland, and Penticton too. It's just very dry in the summers there and you can pretty much count on a fire in the local region every year. And you're right about Revelstoke area; from 2017 - 2018, property values increased 19.6%!

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

    Thank you everyone for your responses, it's quite overwhelming! I may not be able to respond to all of them, but I've been reading them all. I've also been keeping a list. I know my criteria is quite broad, but I am grateful for everyone's input nonetheless. One thing is seeming quite clear though, there is opportunity everywhere! Also, not everyone is going to agree on every location, and that's fine! Thanks again, everyone :)

    0Reply
  • Stephen Diakos
    Rental Property Investor · Winston-Salem, NC · Member since 2019 · 63 posts · 73 votes
    6y

    @Robert Wright I live in Winston-Salem and invest throughout the area. It's a terrific place to live and glad I made the move up from Florida. I grew up at the beach but love the mountains and all that Winston has to offer. The cost of living versus employment income potential is terrific as well. While I still invest in Florida, I do enjoy investing local and have a few properties in town that have treated me well and appreciated greatly over the years. Good luck with wherever you decide to go.

    1Reply
  • Account Closed
    Rental Property Investor · Brooke Park Drive · Member since 2018 · 1k+ posts · 2k+ votes
    6y

    Pittsburgh

    0Reply
  • Mary M.
    Rental Property Investor · Portland OR · Member since 2018 · 2k+ posts · 3k+ votes
    6y
    Originally posted by @Marianne Lopez-Henthorn:

    i am in contract for 20 units in Portland! 

    I believe PDX is a good place to invest :) 

    1Reply
  • Justin Thorpe
    Member since 2020 · 437 posts · 675 votes
    6y

    @Calvin Lin

    Does this specifically cover uHaul rentals only or does this include truck rentals of all other US companies. If it’s the former than the data set may not be indicative or conclusive.

    From how I see it, uHauls are typically rented by young students or lower income families. Larger families or higher income folks will simply outsource the move to a large trucking company.

    So then how could that data be representative of the general trend? The data will tell you that there is large scale migration out of coastal cities. But the situation on the ground will show you a very different picture. I can speak for the Bay Area where uHaul data has shown a net outward migration but then the number of high paying jobs, traffic, home prices etc keeps growing at a rapid clip.

    0Reply
  • Susan Maneck
    Investor · Jackson, MS · Member since 2014 · 1k+ posts · 769 votes
    6y
    Originally posted by @Mitch Harold:

    Florida is a giant trailer park with access to the beach.  Mississippi is a backwards dump.  Do yourself a favor and take those 2 locations off of your list.

    I've lived in California, Tucson, Flagstaff, Florida and for the last twenty years in Mississippi. Yes, Mississippi is backwards but the return on investments can't be beat. I live in 1700 square foot house with a living room and family room. It was rehabbed just before the recession. I paid 30K for it. I could rent it easily for $900 a month. Mississippi made me a millionaire (just barely) from virtually nothing a decade ago, so I'm not complaining. 

    3Reply
  • Marianne Lopez-Henthorn
    OP
    Rental Property Investor · Fort McMurray Alberta, Canada · Member since 2018 · 62 posts · 26 votes
    6y
    Originally posted by @Mary M.:
    Originally posted by @Marianne Lopez-Henthorn:

    i am in contract for 20 units in Portland! 

    I believe PDX is a good place to invest :) 

     

    That's amazing! And inspirational! Portland is high on our list, especially because we would love to live there too. I'd love to follow your journey :) All the best! 

    0Reply
  • Hai Loc
    Specialist · Toronto, Ontario · Member since 2012 · 2k+ posts · 891 votes
    6y

    Irvine CA   Beside In and Out Burger

    1Reply
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