Moving to the US, which State?

Member since 2019 · 10 posts · 3 votes

Hello there, I'm planning to move to the US next year (at 22 yo) and start investing in real estate. My main occupation is working online, so I can work from anywhere.

Given that I'd love living summer year-round and staying close to the beaches I'm considering moving to Florida, do you guys think it is a good place to start investing in rental properties? If not, can you suggest any other State/City, please?

I'm opened to suggestions.

The areas I've taken into consideration so far are Tampa and Miami Area.

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Bill B.

Investor · Las Vegas, NV · Member since 2013 · 8k+ posts · 10k+ votes

If you can choose from the whole US. Pick good weather and no state income tax. Nevada, Texas or Florida. All are decent for landlord tenant law as well.

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Aaron K.
Specialist · Riverside, CA · Member since 2015 · 6k+ posts · 3k+ votes
6y
If you want to be in the sun, belt and close to the beach Florida may be the best bet, it won't be the best for cash flow rentals especially south florida but that doesn't appear to be your primary concern at the moment.
1 Reply
Filippo Baldo
OP
Member since 2019 · 10 posts · 3 votes
6y
Originally posted by @Aaron K.:
If you want to be in the sun, belt and close to the beach Florida may be the best bet, it won't be the best for cash flow rentals especially south florida but that doesn't appear to be your primary concern at the moment.

I'm looking for a city where there's a good real estate game to play in, which I want to make my main source of income (rental properties).

And yeah, I heard South Florida is not great for RE, I'm considering Tampa/Sarasota area, to be honest.

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John P.
Investor · Vacaville, CA · Member since 2016 · 433 posts · 249 votes
6y
Vegas!
1 Reply
Filippo Baldo
OP
Member since 2019 · 10 posts · 3 votes
6y
Originally posted by @John P.:
Vegas!

Do you invest in Vegas?
0 Reply
John P.
Investor · Vacaville, CA · Member since 2016 · 433 posts · 249 votes
6y
Originally posted by @Filippo Baldo:
Originally posted by @John P.:
Vegas!

Do you invest in Vegas?

Yes. Just some single family homes but I really like it. Property taxes are so much cheaper than a place like Florida. There is no severe weather to be worried about. Like everywhere in the US the prices are "up" and they don't make as good sense as they once did but you can still make it work.

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Account Closed
Rental Property Investor · Torrance, CA · Member since 2016 · 724 posts · 1k+ votes
6y
@Filippo Baldo
What kind of investing? How much capital do you have? Are you planning on buy and hold for cashflow? Flipping?
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Filippo Baldo
OP
Member since 2019 · 10 posts · 3 votes
6y
Originally posted by @Account Closed:
@Filippo Baldo

What kind of investing? How much capital do you have? Are you planning on buy and hold for cashflow? Flipping?

Yes, I'd like to buy and hold for cashflow, starting with residential properties. After some years, I would get into commercial properties since it makes more money.

Capital would be something around 40k-65k.

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Nader Hack
Lender · Florida -Pennsylvannia · Member since 2019 · 6 posts · 4 votes
6y
According to recent real estate market studies. Out of the top then cities in the United States for Fix n Flip, Miami, Tampa, and Orlando markets are in the top 10.
3 Reply
Bill B.
Investor · Las Vegas, NV · Member since 2013 · 8k+ posts · 10k+ votes
6y
If you can choose from the whole US. Pick good weather and no state income tax. Nevada, Texas or Florida. All are decent for landlord tenant law as well.
5 Reply
Bryce Wade
Real Estate Agent · Tampa, FL · Member since 2019 · 23 posts · 9 votes
6y
Tampa and Sarasota are great for cashflow. Also many strong areas surrounding Tampa like Clearwater, St Pete, and Lakeland.
2 Reply
Garrett Manges
Real Estate Agent · Columbus, OH · Member since 2019 · 5 posts · 10 votes
6y
@Nader Hack Columbus Ohio is good too!
1 Reply
Jeff CopelandBusiness Member
Real Estate Broker · Tampa Bay/St Petersburg, FL · Member since 2015 · 1k+ posts · 2k+ votes
6y
www.themultifamilyguy.com/education
Copeland Morgan LLC4.770 Reviews
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Remington LymanBusiness Member
Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
6y
@Filippo Baldo I would recommend moving to Columbus, Ohio. I started REI here when I was 23. I started by house hacking and I am up to 14 units (maybe 16 soon)
[email protected]614-541-8475 Podcast Guest on Show My Job Laid Me Off, So I Replaced My Salary with Rentals
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David Campbell
Investor · San Diego, CA · Member since 2017 · 190 posts · 117 votes
6y
@Filippo Baldo
Where are you coming from?
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Sam Shueh
Real Estate Agent · Cupertino, CA · Member since 2016 · 4k+ posts · 1k+ votes
6y
Mid west. Lowest price and reasonable return.
0 Reply
James Gleeson
St Peters, MO · Member since 2017 · 8 posts · 4 votes
6y
@Filippo Baldo if you’re looking for cash flow, invest somewhere in the Midwest! St. Louis is a great market
0 Reply
Magesh R.
Investor · Bradenton, FL · Member since 2014 · 109 posts · 17 votes
6y
@Bryce Wade what kind of cash flow are you seeing in these areas? From whatever I looked at it seems very difficult even to break even. May be some subdivisions are better? I mainly looked in to Sarasota area
0 Reply
Neil G.
Investor · Knoxville, TN · Member since 2019 · 63 posts · 24 votes
6y
@Filippo Baldo I'm in a similar situation as you. I'm from Florida, but have been doing the digital nomad thing for four years and now looking to move back to the States and get into RE. It's tough as there are so many options. Check out Tampa, FL. Close to beaches, small, growing city with beatutiful people, RE opportunity (though not as much as in the midwest), growing "hip" scene, clean, average cost of living (by US standards). The two downsides of Florida are 1. A lot of strange, potentially gun wielding people. Seemingly every absurd national story comes out of Florida. 2. The summers are miserably hot. Good luck!
1 Reply
Juan Nieto
Rental Property Investor · Bradenton/Sarasota · Member since 2018 · 13 posts · 6 votes
6y
If you are looking in the Sarasota area, look at Bradenton as well. Bradenton is a little less expensive. You can still find the occasional good deal. Right now distressed homes is your best shot. There is not much on the MLS that makes sense right now. If you dig enough, you can find a hidden gem.
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Filippo Baldo
OP
Member since 2019 · 10 posts · 3 votes
6y
I heard there's a high crime rate in St.Louis
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Kayla Pronesti
Member since 2018 · 54 posts · 28 votes
6y
Hi Filippo,
I currently live in the Bradenton area and love it. We invest here and there are lots of potential in the areas and surrounding. There are still some areas little further out that are not built up yet. There are some great local reias and meetups I could introduce you to if you decide in the areas! Best of luck
1 Reply
Rose WhitePro Member
Real Estate Agent · Woodstock, GA · Member since 2019 · 72 posts · 43 votes
6y
Hi Filippo,

That's great that you'd be moving into the states !
if you haven't been here before already, I do feel like US is a great place with many different options for scenery to choose, whether its an open field, beach view, mountain view or a city life.

I personally live in Georgia (which is close to FL) and it seems like its a great place to be.
A lot of older cities are growing in population and a lot of companies are moving in as well.

Pro:
- GA is a growing state, a lot of big companies are moving into Atlanta, which means more population.
This attracts new people to rent around the area of these companies. Home Depot HQ, Coca Cola HQ, Delta air lines is just to name a few. This means you can invest in properties near these companies to help provide homes for interns, newly moved in employees.
- You can go to the beach with around 5 hour drive? (Savannah, GA , Panama City Beach,FL, Hilton head, SC) / which you can look into doing Airbnb in those places.. i think doing Airbnb in the City would be something to look into as well.
- Also, there is a popular attraction named blue ridge mountain or Helen, GA.

Con:
- Atlanta is very dense. heavy traffic. Since you won't have to commute too much, you might want to live around places you'd want to hang out (Sandy Spring, Dunwoody, Midtown, Linberg is popular area- but these are big cities) if you want to be at more quieter, less traffic area, would be Woodstock, Buford, or a little more north even.
- you'd have to drive quite a bit to go to beaches. I live in Acworth and we have a little park with a "beach" but its like a lake, rather. Also its a suburb so its very quiet and good for family time.
- GA weather is a bit inconsiderate. lol It will rain 1 day, be sunny the next, and then would have tornado warning few days after that. (i havent been through tornado or any disastrous weather the 10 years i have been here though lol)

Anyways, wherever you choose, i hope you have a great time and continue to be active on BP !
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Jaysen Medhurst
Rental Property Investor · Greenwich, CT · Member since 2015 · 4k+ posts · 2k+ votes
6y
"Live where you want to live, invest where the numbers makes sense," @Filippo Baldo. If you like the heat, move to Florida or Nevada; need to be near the mountains, Colorado is lovely; never want to have to drive a car again and don't mind living in a shoe box, Manhattan awaits. Kansas City may have have amazing cap rates, the tenant laws in Nevada are terrific, and Dallas can't build housing fast enough. That's all well and good, but if you are going to be miserable living there, what's the point?
2 Reply
Account Closed
Rental Property Investor · Twin Cities, MN · Member since 2019 · 122 posts · 150 votes
6y
@Filippo Baldo
Somewhere warm, moderate climate & a good market sounds like Florida or Texas
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Filippo Baldo
OP
Member since 2019 · 10 posts · 3 votes
6y
Originally posted by @Account Closed:
@Filippo Baldo
Somewhere warm, moderate climate & a good market sounds like Florida or Texas

How's the market in Minnesota?
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