Realtor · Atlanta, GA · Member since 2015 · 95 posts · 31 votes
A recent article from Realtor.com lists the cities where Americans are moving. I thought it was worth sharing. Are you investing in these areas? As a new investor, I would love to hear why you chose a specific area? Below is the list and link to article:
Real Estate Agent · Durham, NC · Member since 2013 · 81 posts · 39 votes
10y
Raleigh is great for real estate currently, but so is the surrounding area. This weathered the 2008 crash much better than the nation on average. Lots of research jobs have steadily been coming to the Raleigh area, focused in the Research Triangle Park. Nearby Apex and Cary have both seen huge population influxes as well as large increases in median property values. Durham, where I own two properties, is a landlord's dream. In Durham the rent to property value ratio is quite high, so finding cash-flowing properties is not that difficult.
If you want an extremely detailed report on where people are coming/going check this out:
It has an immense amount of data for 2000 U.S. cities since the year 2000 and projections into 2018 such as population growth, median house price, employment growth etc.
Real Estate Investor · Memphis, TN · Member since 2016 · 405 posts · 131 votes
10y
I will add to what Samuel H. Bolton said. The bidding wars on MLS properties and the new construction going on in Nashville is epic. I would like to know what was the criteria for making this list. If these other areas are booming more than here I would like to see what that looks like.
San Antonio, TX · Member since 2016 · 118 posts · 35 votes
10y
To be honest I was very surprised to know that San Antonio would make it on the list, and that is because I am from there. But nonetheless, thanks for sharing this vital and interesting information.
Realtor · Atlanta, GA · Member since 2015 · 95 posts · 31 votes
10y
I wasn't surprised about Florida. I've been reading articles and attending webinars on this market; particularly, Jacksonville -- which I have on my list of top 3 markets to invest. I was surprised to see Raleigh, NC on the list. @John P. the article does list the 10 cities that are losing the most residents, and New York is #1.
Investor · San Marcos, TX · Member since 2015 · 272 posts · 360 votes
10y
Austin is crazy. I am seeing market values rise at least 10k per month in the suburbs. Millennials and Retirees are driving the market. At least for awhile small homes and urban revitalization are going to continue to be hot.
Choosing an area is about jobs and people.
Boomers own 70% of the wealth in America so jobs do not attract them. They want to downsize and live in retirement friendly areas. They are selling expensive houses, and can afford smaller houses in states like Florida.
Millennials are the largest generation. They have very little wealth, desire urban down town locations, like apartments, mixed development, and would like to live close enough to walk or bike to work. They want jobs that mirror their passions so they tend to be heavily employed in the tech industry. Older millennials are starting families and are just starting to transition to the suburbs of their favorite cities.
Generation X is often forgotten. They are inheritors of the wealth that the boomers are leaving behind. They are middle managers, small business owners, and groomed to be the next executives. They have families and they are attracted to jobs and family friendly cities.
A recent article from Realtor.com lists the cities where Americans are moving. I thought it was worth sharing. Are you investing in these areas? As a new investor, I would love to hear why you chose a specific area? Below is the list and link to article:
Interesting to see 3 our of 10 of these locations are in Florida, 2 in Texas and 2 in North Carolina...
This is simple answer for most on NC or SC.
My Dad retried from Wall street and with my mother left long Island about 10 years ago. His taxes were close to 16k a year( Port Jeff Long Island ) cold winters expensive to live. My father purchased two homes in Beaufort SC , and Lady's Island SC ( one for my little sister) taxes were roughly $1200, $1400.
The lady at the tax office asked if he wanted to make payments. My dad still chuckles about that story.
First time ever he enjoyed paying the property taxes.
I wasn't surprised about Florida. I've been reading articles and attending webinars on this market; particularly, Jacksonville -- which I have on my list of top 3 markets to invest. I was surprised to see Raleigh, NC on the list. @John P. the article does list the 10 cities that are losing the most residents, and New York is #1.
I'm in Upstate, NY. It is tough here, but this is a high welfare state so those tenants are staying here. Professionals are leaving for sure...
Rental Property Investor · Erin, NY · Member since 2016 · 130 posts · 32 votes
10y
To give a more complete answer to the original post...
"I would love to hear why you chose a specific area?"
I'm investing in my hometown because it's tangible, I have learned the market and I don't think I have enough reserves yet to trust a property manager many hours away from me. My plan is once my Rentals are all paid off, I can branch out to up and coming markets because I'll have stability in my local market. If I ended up with a chunk of cash I would consider a turn key opportunity in places like the top 10 list, or I would vacation in some of these areas for a while and scan BP for boots on the ground that really know the area. It would be a partnership probably or a great property manager I could pay monthly. I've looked in places like Baton Rouge, LA and different areas of SC, but haven't found someone I'm confortable with. I'm also not actively looking yet because I only have the reserves to take care of the 25 Units we have here in our hometown.
Raleigh, NC · Member since 2015 · 59 posts · 15 votes
10y
From the side of someone that just moved to Raleigh...
My wife and I left Ohio for warmer weather and easier access to outdoor activities - we can be to the beach or mountains within a couple hours. Makes day trips very easy.
Boomers own 70% of the wealth in America so jobs do not attract them. They want to downsize and live in retirement friendly areas. They are selling expensive houses, and can afford smaller houses in states like Florida.
Millennials are the largest generation. They have very little wealth, desire urban down town locations, like apartments, mixed development, and would like to live close enough to walk or bike to work. They want jobs that mirror their passions so they tend to be heavily employed in the tech industry. Older millennials are starting families and are just starting to transition to the suburbs of their favorite cities.
Generation X is often forgotten. They are inheritors of the wealth that the boomers are leaving behind. They are middle managers, small business owners, and groomed to be the next executives. They have families and they are attracted to jobs and family friendly cities.
Very nice insight, that's how developers look for where to develop, but anyone in real estate should try to understand what you wrote and to think like it at all times, it's like having a crystal ball to the future.
To give a more complete answer to the original post...
"I would love to hear why you chose a specific area?"
I'm investing in my hometown because it's tangible, I have learned the market and I don't think I have enough reserves yet to trust a property manager many hours away from me. My plan is once my Rentals are all paid off, I can branch out to up and coming markets because I'll have stability in my local market. If I ended up with a chunk of cash I would consider a turn key opportunity in places like the top 10 list, or I would vacation in some of these areas for a while and scan BP for boots on the ground that really know the area. It would be a partnership probably or a great property manager I could pay monthly. I've looked in places like Baton Rouge, LA and different areas of SC, but haven't found someone I'm confortable with. I'm also not actively looking yet because I only have the reserves to take care of the 25 Units we have here in our hometown.
Yep, my wife and I are doing the exact same thing, for the same reasons (and in roughly the same area!)
Realtor · Atlanta, GA · Member since 2015 · 95 posts · 31 votes
10y
@Alex Franks if I went from paying 16k to 1200-1400 in property taxes, like your dad, I would be chuckling too!
@Aaron Vergason you make some good points on investing local. My husband and I are still struggling with the decision to invest local, or buy turnkey in other markets. Hopefully, we'll decide by the time we've saved enough money. In the meantime, we're just taking our time to become more educated.
Our list of top 3 markets include: Atlanta (where we live -- didn't see Atlanta on the list of winning or losing cities), Hammond, IN (close to Chicago, but landlord-friendly), and Jacksonville, Fl.
Real Estate Agent · Austin, TX · Member since 2014 · 636 posts · 486 votes
10y
Interesting study. It als breaks down the markets generationally. The National Association of Realtors just came out with their own study on millennial homebuyers and a lot of the same cities correspond.
Investor · Baltimore, MD · Member since 2015 · 160 posts · 76 votes
10y
Interesting report. I just moved to the Tampa area, to a small community (suburb I guess) that keeps getting articles written about how it's a great place to live due to its walkability, charming downtown, great restaurants, wonderful beaches, and it's affordable. We moved here to raise our family and invest in real estate.
Flowery Branch, GA · Member since 2016 · 23 posts · 7 votes
10y
I'm moving to Georgia and than hopefully Texas in the next couple of years. Most of my friends seem to be moving to Texas, Florida, or NC to get started with their careers and families if they don't move home. Less taxes, more development, more jobs, and better weather seems to be pulling everyone to these states from what I have noticed.
Josh, I am originally from Virginia and currently live in Evans, Ga. I'm new to real estate investing, but have lived here for over 10 years. It is very Hot here in Georgia for 3-4 months out of the year you feel like you are inside of an oven in a swamp, but once you get past that Swamp Oven Season, the weather really soothes out nicely into some of the best outdoor sports weather anywhere!
Investor/RE Broker · Eugene, OR · Member since 2014 · 3k+ posts · 968 votes
10y
Jacksonville has been a prime investment area for me, so it is good to see it #2 on this list. I live 100 miles south of Portland (#10) in Eugene, a medium size college town (Go Ducks), and the market is quite hot here, while in Portland it has been absolutely on fire I hear.
Real Estate Broker · Raleigh, NC · Member since 2014 · 2k+ posts · 1k+ votes
10y
@Patricia Joseph I chose Raleigh because I happen to live here. It was just a happy accident that I ended up in this area, and I currently own six homes here. I'm hoping these top 10 lists that constantly have Raleigh on them leads to my property appreciating nicely over the years and keep vacancy rates at a minimum.
Real Estate Agent · Durham, NC · Member since 2013 · 81 posts · 39 votes
10y
Raleigh is great for real estate currently, but so is the surrounding area. This weathered the 2008 crash much better than the nation on average. Lots of research jobs have steadily been coming to the Raleigh area, focused in the Research Triangle Park. Nearby Apex and Cary have both seen huge population influxes as well as large increases in median property values. Durham, where I own two properties, is a landlord's dream. In Durham the rent to property value ratio is quite high, so finding cash-flowing properties is not that difficult.
If you want an extremely detailed report on where people are coming/going check this out:
It has an immense amount of data for 2000 U.S. cities since the year 2000 and projections into 2018 such as population growth, median house price, employment growth etc.