San Francisco, CA · Member since 2017 · 35 posts · 42 votes
I plan on leaving California at the end of 2018, maybe earlier. The cost of living is to high, and there are just way to many people here. What I would like to do is find a market that has potential for investing, but won't break the bank. I know that less people means less renters, but I just want to be in an area that is a little slower. So, how would I go about valuating a state, county, city, and so on?
Check out Idaho. Growing state, property prices are going to look very low to you, but have been appreciating. Unemploment is lowest in the nation. Business friendly state. You will have to adapt to snow in winter. Idaho is a right to work, balanced budget state.
There are websites that rank the states by their business friendliness. Idaho usually ranks about #8 in the nation.
Check out Idaho. Growing state, property prices are going to look very low to you, but have been appreciating. Unemploment is lowest in the nation. Business friendly state. You will have to adapt to snow in winter. Idaho is a right to work, balanced budget state.
There are websites that rank the states by their business friendliness. Idaho usually ranks about #8 in the nation.
I'm becoming a believer in the southern/midwestern states (Alabama, Mississippi, Missouri, etc). Property values are wayyyyyy lower than CA and frankly they haven't risen all that much since 2008. They offer a lot of potential for rentals because you can find $80K ARV homes that will rent for $900 or $1000 pretty frequently. They are particularly worthwhile near colleges and military bases and the like. They are sometimes a little tougher to make the numbers work as a straight flip.
I've paid 30-35K for houses that rent for $800-$850 a month in Jackson, MS. Granted these are become few and far between but the return is still good. Some of these were worth 100K plus prior to the recession and I expect them to return to that value.
I plan on leaving California at the end of 2018, maybe earlier. The cost of living is to high, and there are just way to many people here. What I would like to do is find a market that has potential for investing, but won't break the bank. I know that less people means less renters, but I just want to be in an area that is a little slower. So, how would I go about valuating a state, county, city, and so on?
Well, I always put my vote with Cleveland, Ohio! It is mainly because I live here and the cost of living is SO affordable! Check it out :)
Thanks everyone. I have heard a lot about Ohio, but I didn't consider Alabama, Mississippi or Missouri. I like the idea of buy and hold, I think one of my hang ups is how to evaluate a property so I am not buying a lemon. And, not spending too much on a contractor to repair the property.
Thanks everyone. I have heard a lot about Ohio, but I didn't consider Alabama, Mississippi or Missouri. I like the idea of buy and hold, I think one of my hang ups is how to evaluate a property so I am not buying a lemon. And, not spending too much on a contractor to repair the property.
The good news is that labor charges are pretty cheap in Mississippi.