Why do you live where you live?

Investor · Colorado Springs CO · Member since 2014 · 535 posts · 253 votes

I have heard quite a few reasons for living in various areas. Weather, family, politics, job transfer, college, etc. However, I don't recall ever hearing someone say they moved to a particular area because it was landlord-friendly, or because the house flipping opportunities were awesome.

So what I'm wondering is, what is your reason for living where you live? And the follow up questions: Does your reason pertain to real estate investing at all? Did real estate investing have any impact on your reason to stay in, or move to, a particular place?

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Investor · Honolulu, HI · Member since 2013 · 3k+ posts · 1k+ votes

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365 days a year!

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Scott C.
Bronx, NY · Member since 2014 · 25 posts · 34 votes
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We live in NYC because wife and I grew up here and we feel it provides amazing experiences to our kids as they grow up. Of course it is expensive so we both work hard to make ends meet.
However, in a few years kids will both be on their own and we will move. We plan to move to Jacksonville FL, where we have 2 investments. We love the JAX regional area and the weather.
Currently, we don't feel we need to live in the places we invest, because we are using property managers, but we like them to be within driving distance, for us being within say 1000 miles so we can get there easily when necessary. It would be nice someday to be able to do the property management ourselves, which can be difficult and time consuming from a distance. I can see us consolidating our investments in various cities in FL and SE US once we move down there, and managing them ourselves some day.
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Jason Miller
Investor · Aurora, CO · Member since 2009 · 200 posts · 74 votes
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I moved to North Aurora in Colorado for the specific reason of investing. The north Aurora market was the first hit in the foreclosure boom (2006) yet it was adding 45k new high paying medical jobs in zip codes with a median income of 45k. Add 45k jobs paying an average of 80k or higher to a an area with houses that were selling from 40k-110k at the time.
I wanted to know the market. Just the few places I have acquired here have increased in value anywhere from 50%-70% had I purchased them at market value. If I the skills and drive of someone like @Anson Young i could have done much much better.
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Joe Sillaman
Ewa Beach, HI · Member since 2013 · 145 posts · 42 votes
11y
Oahu, Hawaii...Perfect climate (We have the best weather on the planet" - Guy Hagi/HI weatherman), warm water, beautiful landscapes, great food, endless outdoor activities, killer surf.
Yes, it's expensive but you get what you pay for.
Investing is tough here though, most of the property value is in the land so you could have a dump of a house and it'll still be super expensive at market price. MLS deals are nearly non-existent, if one does hit the MLS or goes to auction it'll have a ton of bids that will force a market price. There's 8,000+ Realtors on island so everyone know's a Realtor.
If you can manage to flip you'll kill it here (You'll need about $400K in cash or a good partner to loan you the funds).
Flipping Lux homes is the dream!
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Kate B.
Investor · Albany, NY · Member since 2014 · 129 posts · 28 votes
11y
I've lived most of my life in NE New York state, SW Vermont and central MA. Born in NY and all family still there (and I bought a house), family homes in VT too (and I bought a house), and college and work took me to central MA ( and I bought a house). I am here because it is where most of my roots are. I love the changing seasons, I am comfortable with people here, I don't care if the tenant wins because I rent to decent people and budget for it and have the best lawyer. BUT I take many opportunities to travel all over. I am buying a new car soon, and I will probably find one that fits sleeping dogs and sleeping me, so we can hit the road. No more buying where I go. Except....
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Micki M.
Flipper/Rehabber · York, UK · Member since 2013 · 895 posts · 453 votes
11y
I have lived in downtown Denver for the past 8 years and have loved it, but my social circle has drifted away as people have moved, gotten married, etc. Investing in Denver is challenging these days so I've been investing elsewhere but not anyplace I want to relocate to. I'm thinking about finding someplace where I can enjoy living and investing. I'm a beach bunny at heart but as @Joe Sillaman demonstrates those two things can be hard to find together. How's your market @Brandon M. ? Need a real estate savvy intern? @Greg Behan I used to live in the USVI, I'd love to find some opportunity down there - vacation rentals?
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Joe C.
Rental Property Investor · Katy, TX · Member since 2013 · 64 posts · 13 votes
11y
My wife and I both grew up in the Bay Area so almost all our family are here. The weather is great, too.
Recently we have been considering relocating to Houston so our young children can get into better schools at more affordable neighborhoods. As a bonus I think it would be easier to cash flow with buy and holds there. Also, I love fishing and as it appears the fish there are so much bigger! They seem to have quite a lot of outdoors activities in relatively close proximity. I could also try planting various tropical fruit trees there where it would not work here in the Bay Area. So many good reasons for relocating but the one reason holding us back, family, is a very strong one.
Like someone earlier in the thread had mentioned, perhaps the passive cash flow that could and would be built in the more cash-flow-friendly market will support extended visits back home with all the family.
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Anson YoungBusiness Member
Flipper/Rehabber · Denver, CO · Member since 2009 · 1k+ posts · 726 votes
11y
Originally posted by @Jason Miller:

I moved to North Aurora in Colorado for the specific reason of investing. The north Aurora market was the first hit in the foreclosure boom (2006) yet it was adding 45k new high paying medical jobs in zip codes with a median income of 45k. Add 45k jobs paying an average of 80k or higher to a an area with houses that were selling from 40k-110k at the time.
I wanted to know the market. Just the few places I have acquired here have increased in value anywhere from 50%-70% had I purchased them at market value. If I the skills and drive of someone like @Anson Young i could have done much much better.
You are too kind. I wish I would go back in time and keep everything I wholesaled in 2008-2010! I would be retired by now!
I live in Denver because I was born here. I stayed here because of the weather, family and amazing access to the mountains which I hike, ski and adventure in as often as possible!
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Larry Fried
Investor/RE Broker · Eugene, OR · Member since 2014 · 3k+ posts · 968 votes
11y
Eugene, OR. I live here because my wife took a teaching position at the University of Oregon nine years ago, but also because it is beautiful, lush and green. I've lived in the Pacific Northwest for the greater part of my life, and feel it is the place in the US that calls me and that I call home.
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Greg Behan
Contractor · Skippack, PA · Member since 2014 · 228 posts · 39 votes
11y
@micki mcnie
I would certainly think the vacation rental or resort route would be the way to go. Although a spec build or two could be quite rewarding. People rent houses down there but it seems the resort route seems to be a peace of mind for a lot of travelers.
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Investor · Honolulu, HI · Member since 2013 · 3k+ posts · 1k+ votes
11y
Hawaii investing for smaller pockets
http://www.kitv.com/news/affordability-heats-up-oahus-condo-market/31353196
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Gordon Weakliem
Denver, CO · Member since 2015 · 16 posts · 4 votes
11y
@Greg Hiban That's interesting. I grew up in Pennington, NJ. We probably went to the same high school, Titusville and Washington Crossing were in our district. It seems crazy expensive to me, but when you figure in median income, maybe it's more affordable than I think. They are developing like crazy there so somebody must want to live there!
I moved to Denver for the same reason as every other out of stater - I wanted to go snowboarding! That & mountain biking. Colorado attracts the outdoor lifestyle, and it's the largest city in the nation where you can have all that available nearby. However, the cost of living is rising and it's getting more crowded though, real estate in particular seems to be going up higher than average across the country.
@Jason Miller I live right across the boundary from N. Aurora in Stapleton. The zip code just south of us was the highest foreclosed areas in the state during 2008-10. That area is really what gets me thinking. The CU medical campus is drawing a lot of employment opportunities. There was a 6 lot parcel near the old Stanley building that I kept thinking about except that as a first project, building 4-6 houses from raw land seemed like a bit too much to take on. That land got snapped up right before they announced the Stanley Marketplace redevelopment. Whoever did that should be set up to make a bundle.
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Steve Olafson
Scottsdale, AZ · Member since 2014 · 659 posts · 536 votes
11y
I spend my life outdoors by choice. I run 40-50 miles per week, play multiple softball games every week, play as much golf as I can fit in.
I love to power hike. I have been to the top of Mt Whitney. A big accomplishment has been to hike across the Grand Canyon and back again in a day. I have done this a couple of times.
I love to go canyoneering through rivers that requires jumping rocks and climbing using ropes to get through. I also enjoy taking the rapids through the Grand Canyon on a raft.
I like the fact that I can do most of these things all year around where I live.
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Gordon Weakliem
Denver, CO · Member since 2015 · 16 posts · 4 votes
11y
@Gregory H. meant to tag you in that last post. Didn't stick for some reason.
Also meant to throw in that in Pennington there is a lot of scrape-off activity. Unless the house is old enough to be historic, it seems cheaper to tear the thing down and rebuild to suit. Our old neighbors' house dates from the 50's probably and they gutted it down to a couple walls and rebuilt it. Probably what will happen to my parents' place as well.
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Real Estate Agent · Cleveland, OH · Member since 2014 · 89 posts · 51 votes
11y
Moved to Cleveland for what else, a girl... ;)
While the winters can be a tad rough, it's a great place to live. Great sports teams, excellent food, the lake, the parks, industry, an economy on an upswing. Also an excellent place to invest, endless inventory. Here to stay.
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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
11y
@Steve Olafson
your my new hero... I have a hard time walking down into my basement to use my GYM.
Being here in Oregon has its perks.. however N. CA specifically Napa valley is my spot to live of anywhere I have been or lived.. !!
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Nicole A.Pro Member
Rental Property Investor · Baltimore County Maryland and Tampa Florida · Member since 2013 · 2k+ posts · 2k+ votes
11y
Columbia, MD. I used to live in northern VA until my husband and I found the house we really liked in Columbia. I like the area because it has lots to offer and is within an hour or so to just about everything that we want such as racetracks, wineries, Washington DC, etc.
However, I dislike that it's growing so much that it's attracting a bunch of panhandlers...and litter...and roadside memorials. We even had a memorial in our neighborhood where some lady was speeding, hit the tree, and was ejected. I sounded all cold-hearted for wanting that down, but luckily, it's come down recently. Perhaps the home-owner finally had enough!
I got into real estate around 2009, and just so happened to learn what great rental opportunities were just down the road in Baltimore County. 30 mins from my house to Dundalk...not bad!
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Chaz Reid
Investor · Fayetteville, NC · Member since 2014 · 916 posts · 190 votes
11y
I HAVE NO CLUE!!!! :-(
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Dan MackinBusiness Member
Real Estate Agent · Erie, CO · Member since 2014 · 1k+ posts · 512 votes
11y
Erie, CO
My wife and I grew up just down the road in Louisville, but could not afford it once home purchasing came around. We love the local feeling of having events you can ride a bike to while still having amenities within a close drive. Tried north Denver for 2 years and it just didn't fit. When you live in certain parts of Colorado you get spoiled with open space and trails which we completely lost in our first home.
I have traveled most of the country and just have not seen myself living anywhere else in the USA. Ireland is a different story, but that is being saved for down the road. One thing I will say about the active lifestyle in Colorado is that you know quite quickly when you're getting out of shape when compared to everyone else!
720-466-3378
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Jason Miller
Investor · Aurora, CO · Member since 2009 · 200 posts · 74 votes
11y
@Gordon Weakliem That Stanley marketplace will be something to see for sure. That little pocket is the last holdout of terrible properties in the area. Should be pretty transformative. Heck the simple fact that RTD bumped its timeline for Aurora by 10 years should be telling enough.
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Residential Real Estate Broker · Birmingham, MI · Member since 2014 · 179 posts · 54 votes
11y
A walkable community with a great master plan, great programming in design, excellent use of placemaking, and in the path of growth. Top public and private schools Safety (low crime) A profitable place to invest in SFR for buy and hold and also new construction. Opportunities for mixed use developments.
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Sean Connolly
Investor · Boston, MA · Member since 2014 · 82 posts · 24 votes
11y
The only reason I live Massachusetts is because I was born here and have family here. Taxes, Politics, and Weather is terrible. Considering a move to Florida, Colorado, or the Carolinas myself. The only problem is my career field frowns upon moving around alot. But the chance of moving someplace nicer is outweighing having a nice comfortable job at this point.
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Kimberly T.
OP
Investor · Colorado Springs CO · Member since 2014 · 535 posts · 253 votes
11y
Love all the replies! Glad to see a few people who said that REI did in fact influence their decision to move (or stay) somewhere. Great bunch of interesting people!
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Rolanda Eldridge
Investor/Realtor · Hoover, AL · Member since 2010 · 1k+ posts · 459 votes
11y
Home!!..My last corporate job relocated me back from Florida and I got the RE bug. I left the company after 10yrs and never looked back! Although I might not retire here, I plan to maintain 90% of my portfolio in the area. Lots of family, friends, contacts and familiar with metro areas...It's been a great fit for me and my family!
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James Wise
Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
11y
I was born here. I will die here.
I do not like moving.
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Greg H.Pro Member
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Broker/Flipper · Austin, TX · Member since 2013 · 4k+ posts · 4k+ votes
11y
Moved here to attend the University of Texas and never left just like most other students here.
Austin is very diverse and has a great vibe. Great music and restaurants and always a festival or 2 going on.
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