All Forum Posts by: JJ P.

We've just purchased a couple of rentals in Oregon near the coast.  I'm following this thread in case there are updates.  @tylerdessandro, did you buy anything?  How did it go?

When is the Golden Visa program closing?

People like to live in cities.  New York and SF are not emptying out anytime soon.  

 What I'm seeing is that

 1) People are drawn to less dense areas for vacation or second homes, or 2) They struggled to afford their home in a high cost of living area and are moving somewhere where housing is more affordable.  

 We live in Southern California, and the rental market and appreciation market is amazing.   It's not duplicatable in lower cost of living areas, because one of the main drivers of the appreciation or big rental returns is higher cost of living.  Nearly every little house in the county is worth 500K.  I'm talking about homes built in the 1960's, 2 bedrooms/1 bath.   The main barrier for most people is entry price point.   If you're on the wagon already, it's a great ride.  But, conversely... If you weren't caught up in the rising price vortex, it's hard to jump in.  If you don't have a high paying job, it's hard to jump in.   It's just crazy expensive, especially for someone coming from elsewhere.   It's been talked about for years that people who move away from California can never afford to come back.   One of my young family tenants recently moved to Memphis and bought a nice 3/2 house with some wooded land for less than the very affordable (for our area) rent that I charged. It was about 1/3 to 1/4 of what the same house here would have cost them.  Buying here would have strapped them financially with no spare cash for the kids or the extras in life.  After they moved,  I raised the rent $400 for the next tenant.  Win win.

 The appealing areas around us that are a day's drive or so... Mammoth Lakes, Big Bear, Tahoe, up the Coast, Oregon, Idaho, Colorado, are experiencing a huge boon of CA big city money.   People are either downsizing/down-working, buying second homes,  or starting businesses with their city honed resources and finances.  

We're usually on a budget but we paint it, refloor it, and get rid of old light fixtures.  If you have old, dated bathroom vanities or sinks/tubs, redo them also.  

There's a time to expand and a time to settle in.  I think the older and more seasoned you are as an investor, the less appealing it is to leverage and grow.   This is a cushy retirement and there's no need to hustle for more. 

We have no mortgages now, but 15 years ago, none of this would have been possible without leverage.   We leveraged our home and bought what has now become 10 paid off rental houses.  At one point, we had 1,000,000 in debt and a fistful of mortgage payments.  We gambled and won.    Now, we've settled in for the easy part.  The houses have appreciated- most have doubled in value, the repairs have been made, the tenants are happy.  The cash flow is great and we earn enough for the lifestyle we want to live.    Yes, we could leverage more and have more houses, more cash flow and presumably more wealth and riches, but we like our free time and a slower pace now.   The "Gone Fishing" sign is hung on the door.

There seems to be a broken link.  I've tried to opt out many times and I still get notices.  It wouldn't be bad if it was just once a day, but my inbox is slammed. 

Kansas City is a popular place!  As of now, I'm heading to the Mid Atlantic to scout.   If those areas fail the sniff test, KC is on the radar.   

Bill Super in Fallbrook.  Financial Planner

William (Bill) F. Super, CPA, AEP, PFS

William Super CPAs & Consultants

Great insights on an area I'm researching.

These are great suggestions.   

Our out of state network personal friends/family is sparse.  We have distant relatives in the Boston area and in New Orleans.  We're more the Christmas card type of family then the talk-every-week type.   Neither of those places appeal to me for investments.   I have a dear friend and some family members in Oregon, and we started out our search on the Pacific Coast in Oregon and Washington and eventually chose to go to an area with better cash flow and a broader economic base.     Unfortunately, that taps out the out of state family that we have.  So it will be new area.

@Parker Massengill that area is on the radar.  

@Lee Ripma how is your Kansas City investment going?  How long have you had it?  Do you see it now and again?

  @Dave Foster I just ordered The Clipper Ship, it looks like an interesting read.