I'm itching to relocate...but where to?
Real estate investing is a top priority. Single family or small MF (10 units or less) long term holds with decent cash flow. For quick analysis looking for 1% rule or greater. Also want active RE income from rehabs (primarily SF, but could also be small MF or even small retail).
Other criteria/wants on the list:
- Mountains...real mountains, not hills or far off across the grasslands mountains, but real mountain views and access to hiking and skiing, etc.
- Family friendly and decent schools
- Within 1 hour of a really good children's hospital and an even closer decent ER.
- Within 1 hour of an airport
- Low taxes!! Business/RE friendly government
- Other transplants and a welcoming community
Does this exist anywhere or am I looking for a unicorn? Colorado, UT, Idaho, Montana?
@Casey Mendelsohn Where do you live now? Much of what you describe sounds a lot like where I am at in Eastern Idaho.
Hi Casey, Colorado is a great place. Rental returns can be hard to find but not impossible. Great mountains with great character.
Originally posted by @Casey Mendelsohn :
I'm itching to relocate...but where to?
I'm invested in Boise/Meridian Idaho and am very hapy with how they're doing. I just spoke with a friend living in Spokane who said the market there is pretty good, although I've not had any personal investments there. Let us BP members know if you find that unicorn!
Follow-up to my above comment. Aurora Colorado was recently listed as best place to buy investment property.
Quote from article; Aurora is the best city to buy an investment property. Anyone looking to invest in the real estate market here should have no trouble finding willing renters. According to our data, rent costs have increased by 34% from 2012 – 2016, a sign of strong demand for rental units.
Another sign for optimism in the Aurora real estate market is the rising home values. From 2012-2016, the value of the median home grew by over 43%. What may be driving the increase in prices is the growing population. The number of new people in Aurora outgrew the number of new homes by almost 6% during that same period.
From a Spokane local, the city meets all of your criteria. GREAT skiing (5 resorts within two hours), great hospitals, still somewhat of a secret as far as investing goes but blowing up at record pace. Check it out!
Boise, Idaho sure seems to fit your needs, other then those 1% returns right now! 😀
Where I recommend: Move to South Denver, with a plug for Castle Rock. Great place to live, great schools (especially the charters, but public schools good too), very family friendly with countless parks and trails, brand new/great hospital, about 40 mins to airport. Low taxes and business/RE friendly gov. Very welcoming/inviting to transplants.
As for investments at the 1% rule. This is the tough one. You will get close about 30-45 mins to the south in Colorado Springs, or you will be able to hit it in Pueblo (just over an hour south).
Quick forewarning - the Denver Metro MLS, Colorado Springs MLS, and Pueblo MLS are all in different systems and Realtors usually don't not have access to each. If you are looking to move into the area and invest in another, make sure your Realtor has access to at least 2 of these.
Good luck deciding!
Wow! Thanks for the ideas! I have some research to do.
(Currently in the Twin Cities).
@Casey Mendelsohn look at western Colorado (Grand Junction, Montrose, etc). We have all the outdoor stuff you are looking for with lower property costs than the front range Denver area - and better weather. One hour from Children's Hospital? We have an excellent regional hospital - but children with severe injuries or issues are usually transported by air to Children's Hospital in Denver. I guess you would need to clarify that criteria for someone to better understand your needs. Anyway, let me know if you need further info or help.
You may want to consider Bozeman, MT. I was actually thinking of checking it out this summer myself, as I'll be in Jackson Hole in a couple of weeks.