If you could, where would you move to?

Buying & Selling Real Estate
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If you could, where would you move to?

Kieran McDonagh
Member since 2020 · 10 posts · 5 votes

I'm a US citizen currently living in Ireland looking to return to the US, somewhere warm and coastal with good real estate investment opportunities. 

I've 15 years experience in construction and have already built and flipped properties. 

If you could choose where would you go?

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John UnderwoodPro Member
Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
6y

I lived in Charleston for 9 years while I was in the Navy. It is one of my favorite places to live.

Lots to see and do, many different beaches, great restaurants, low cost of living. 

Savannah would be another great choice.

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

    Hi Kieran,

    Look for someplace SAFE to live. Some places are widespread crime holes. 

    The Pacific Northwest has a lot of rent control areas, but it has mild pleasant weather and pleasant people. The San Diego area is expensive but nice too.

    Watch for hurricane prone and flood prone areas.

    Different areas have different "feels" and "ways" and it might be best to visit a few areas with a rental car and stay a few days during the week in mid priced motels near the area of town you might live in (vs. downtown or the business district) to get a better PERSONAL take on each area (because its a big decision).

    Good Luck!

    1Reply
  • Kieran McDonagh
    OP
    Member since 2020 · 10 posts · 5 votes
    6y

    @Scott Mac

    Thanks for the great advice Scott, really appreciate it. I'm finding it hard to look past Texas as it seems to tick a lot of boxes.

    Will be tough getting used to the heat after living in the rain for so long!

    3Reply
  • Dan H.Pro Member
    Investor · Poway, CA · Member since 2015 · 7k+ posts · 8k+ votes
    6y

    San Diego climate is perhaps as good as anyplace in the US.  It is more moderate politically than the state as a whole but everywhere in the state is moving further left including San Diego.  Environmental diversity is outstanding, ocean, mountains, desert all are in the county.  The biggest downside is the number of people.  When it snows, you cannot get to the mountains without hours on the roads.  Similar for the desert flowers in good years (last year was outstanding and this year looks like it could be outstanding).  Any special event results in huge crowds.

    The buy n hold return starts poor but historically has done outstanding for the hold period (due to outstanding RE and rent appreciation) but, with your experience, my recommendation for you would be to better leverage your skillset. In CA, there appears to be a lot of opportunity in ADUs. I suggest you research the CA statewide ADU rules and determine if you believe they can provide opportunity given your skillset. My view is they appear to be a good opportunity for those that are smart enough to most leverage the benefits. That opportunity is increased if you have the time and skillset to have a very active role. I can see you using your skillset to do outstanding on ADU value adds and then taking advantage of the historically outstanding appreciation to basically kill it.

    BTW, I expect average rent increase to be ~8% for 2019 (over $150/month increase). I have rationale for my belief and a track record of being fairly close to accurate for the last 7 years (which for SFR have averaged over $100/month per year).

    Higher markets typically provide higher return for value adds. I expect ADU additions to be a great opportunity for certain buy n hold investors. Your skillset could result in outstanding return via ADU value add buy n hold if done with intelligence.

    Do your own research before making any decision.  A place that many people love will not be a good location for everyone.  Your evaluation of the opportunities may not match other people's evaluations of the opportunity. 

    Good luck

    1Reply
  • Lucia Rushton
    Realtor · Dallas - Fort Worth Metroplex, TX · Member since 2016 · 1k+ posts · 925 votes
    6y

    @Kieran McDonagh Texas does not hit the warm coastal box! We moved here from Cali in 2016 and it was a great decision for us. Do I miss the Ocean, Heck-yeah!! 

    And Texas is a big ol' state, so if you do decide to venture this way - the suggestion of renting a car and driving around is a great idea! Good luck!

    0Reply
  • Kieran McDonagh
    OP
    Member since 2020 · 10 posts · 5 votes
    6y

    @Dan Heuschele

    Hi Dan,

    Thanks for the advice, I think ADU's are an excellent place to look and add value. San Diego was first on my list because of the climate and I love sailing but the pricing there put me off a little, probably like many others! I'm of the mind though that there is a lot of opportunity there if you look in the right place and ADU's would definitely be a great place to start.

    Thanks again!

    0Reply
  • Kieran McDonagh
    OP
    Member since 2020 · 10 posts · 5 votes
    6y

    @Lucia Rushton

    Hi Lucia!

    Thanks for taking the time to reply, very much appreciated. The Texas coast is definitely on my list, I was looking at Galveston which isn't too far away from Houston too.

    I'm a bit spoiled being able to choose where to live now my kids have grown and left the nest.

    I'm going to have a hard time deciding where to land I think!

    Thanks!

    Kieran

    0Reply
  • Olivia Radziszewski
    Realtor · Chicago, IL · Member since 2019 · 274 posts · 191 votes
    6y

    @Kieran McDonagh Arizona for me! Really anywhere over there, I have heard wonderful things about the REI opportunities.

    1Reply
  • Scott Anderson
    Rental Property Investor · AZ · Member since 2018 · 212 posts · 183 votes
    6y

    Warm, coast, good for REI? IMO it doesn't exist.

    I’d rather move inland and be able to vacation at will. 

    0Reply
  • Jeff Bousquet
    Rental Property Investor · RI · Member since 2017 · 94 posts · 52 votes
    6y

    @Kieran McDonagh

    I like the Charleston South Carolina area. I visited this summer and really enjoyed the area. There's lots to do and the weather is nice. The restaurants are phenomenal.

    The beaches on Isle of Palms are one of the best I've visited. Warm water and. It over crowded. There's second to Marco Island Florida beaches in my opinion.

    2Reply
  • Jeff Bousquet
    Rental Property Investor · RI · Member since 2017 · 94 posts · 52 votes
    6y

    @Kieran McDonagh

    On a side note. I don't know anything about the real estate in the areas I mentioned.

    0Reply
  • David Campbell
    Investor · San Diego, CA · Member since 2017 · 190 posts · 117 votes
    6y

    Prices not withstanding? The beach in San Diego!!! 

    Seriously though, your money goes very far in places like Texas, Arizona, and Nevada.

    0Reply
  • John UnderwoodPro Member
    Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
    6y

    I lived in Charleston for 9 years while I was in the Navy. It is one of my favorite places to live.

    Lots to see and do, many different beaches, great restaurants, low cost of living. 

    Savannah would be another great choice.

    3Reply
  • Michael Ablan
    Real Estate Broker · Watertown, NY · Member since 2016 · 1k+ posts · 1k+ votes
    6y

    @Kieran McDonagh -  Come to Upstate NY :).  Low barrier to entry place to build a real estate empire....You just have to deal with cold winters and insane legislation,...oh, and taxes.....crap...I may have just talked myself out of living here

    3Reply
  • Jaron WallingPro Member
    Rental Property Investor · Indianapolis, IN · Member since 2018 · 4k+ posts · 4k+ votes
    6y

    Depends on your budget. Depends on the type real estate. Depends on your strategy.

    South California has the best weather hands down. Can I afford living expenses there? Hell no. 

    0Reply
  • Jermell Shavers
    Member since 2019 · 295 posts · 159 votes
    6y

    @Kieran McDonagh. The real question is why do you want to come back ?? I don’t want to live in the USA but I’m trapped until real estate gets rolling faster

    0Reply
  • Kieran McDonagh
    OP
    Member since 2020 · 10 posts · 5 votes
    6y

    @Olivia Radziszewski

    Great suggestion, Arizona wasn't on my radar at all. I'll have to look into it now! Thanks!

    0Reply
  • Kieran McDonagh
    OP
    Member since 2020 · 10 posts · 5 votes
    6y

    @David Campbell

    San Diego has the best climate according to many, after 2 storms here in the last week with driving horizontal rain and now its freezing tonight the appeal of warmer pastures is experiencing exponential growth!

    1Reply
  • Kieran McDonagh
    OP
    Member since 2020 · 10 posts · 5 votes
    6y

    @John Underwood

    Thanks for your suggestion John, sounds like a great place!

    0Reply
  • Kieran McDonagh
    OP
    Member since 2020 · 10 posts · 5 votes
    6y

    @Jermell Shavers

    I flipped 3 houses back in the late 90's in WA. state and it's always been in the back of my mind to get back into real estate. But the short answer is weather and opportunity.

    0Reply
  • Jermell Shavers
    Member since 2019 · 295 posts · 159 votes
    6y

    @Kieran McDonagh. Makes sense just wonder why you would give up such nice things over there compared to here.. but I wish you luck in returning

    0Reply
  • Ola Dantis
    Multifamily Syndicator · Houston, TX · Member since 2016 · 1k+ posts · 2k+ votes
    6y

    @Kieran McDonagh 

    This post wouldn't have come at a better time, as I am in the middle of moving my young family from Baltimore, where we still have properties to Houston, TX where we have larger and looking to grow. 

    Moreover, the weather in Texas is nice, yes warm for some but warm is relative, eh! 

    Texas or Florida were our top 2. Good luck with your move. 

    2Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    6y
    Originally posted by @Scott Mac:

    Hi Kieran,

    Look for someplace SAFE to live. Some places are widespread crime holes. 

    The Pacific Northwest has a lot of rent control areas, but it has mild pleasant weather and pleasant people. The San Diego area is expensive but nice too.

    Watch for hurricane prone and flood prone areas.

    Different areas have different "feels" and "ways" and it might be best to visit a few areas with a rental car and stay a few days during the week in mid priced motels near the area of town you might live in (vs. downtown or the business district) to get a better PERSONAL take on each area (because its a big decision).

    Good Luck!

    I am not so sure about mild.. I guess compared to MN it might be we average less than 45 degrees for the high this time of year rains all the time and then some snow and ice.. Summer though that I agree with compared to Texas its a delight.

    I like Charleston SC as a choice.. lots happening real estate wise.. great town great history resturants are really good.. and your right on the ocean so boating fishing etc is nice.. and airport you can get to the major hubs very easy.. economy booming with Boeing Volvo BMW and right to work state.

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    1Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    6y
    Originally posted by @John Underwood:

    I lived in Charleston for 9 years while I was in the Navy. It is one of my favorite places to live.

    Lots to see and do, many different beaches, great restaurants, low cost of living. 

    Savannah would be another great choice.

    If I was 30 years younger I would be moving to Charleston in a heartbeat we do a lot of new construction there and its treated us well.

    buy hold is a little tougher as taxs are quite hi.. but cant have everything

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    JLH Capital Partners51 Review
    WebsiteView Page
    1Reply
  • Daniel J Dominguez
    Investor · Houston, TX · Member since 2017 · 71 posts · 38 votes
    6y

    it really depends on your game plan and your situation in life. if you need a place that provides job security, a stable economy then Texas is definitely an option. I prefer Houston because its still provides affordable housing compared to the national average in major metro cities and the job market is the best in the nation. I would recommend doing your own research. 

    2Reply
  • Account Closed
    Rental Property Investor · Torrance, CA · Member since 2016 · 724 posts · 1k+ votes
    6y

    I’m originally from the Seattle area, and have lived in Los Angeles going on six years now. Also I’ve been fortunate enough to see the entire United States except Alaska and Hawaii. I’ve found that I love and hate a lot of things about everywhere. There is no perfect spot for me.

    I wish I could take the politics of Texas, the people in Seattle, and the weather in LA and make my own personal utopia. Sometimes I throw around the idea of moving to my wife but I know if we did we’d just miss the ocean and 70 degree winters. 

    Another reason I stay is because I’ve oddly grown very accustomed to living in a giant city. I feel at home in the noise and constant stimulation. Chicago or New York would check that box, but now I put on a coat if it drops below 65 so I’m good where I’m at. 

    0Reply
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