All Forum Posts by: Marianne Lopez-Henthorn

We've traveled a lot through the States (Seattle, Portland, LA, San Fran, Sedona, Phoenix, Vegas, Santa Fe, Memphis, New Orleans, Nashville, Pensacola, Atlanta, Chicago, St. Louis, New York City, Whitefish Montana, Dallas, Mount Rushmore, Couer d'Alene Idaho, Biloxi - just to name a few!)

Point being, the two cities that top our list for places to live would be Nashville and Portland, Oregon! (Although I've never been to Portland, Maine and hear great things about it!).

Do you invest in real estate in Portland? Or do you invest out of state?

Denver definitely checks the boxes. But housing prices are a little steep there, aren't they? I've visited and it reminds me a lot of Calgary, Alberta being so close to the Rocky Mountains. If I wanted to, I could get a job there in the oil industry (what I currently do), but that's not what I want to do long-term.

Oooh, I'd have to go with Kelowna on that one! However, you have to deal with forest fires every year, and that takes a toll on your lungs! Revelstoke is much more affordable. I also prefer Kelowna for its proximity to Vancouver, and it's a much more developed city. You have major airport, university, etc. BUT - very expensive! Unless you invest in a condo. I LOVE Canada and am biased with BC, but it's out of my price-range right now. Hopefully someday I'll move back!

 You're absolutely right, property taxes need to be taken into consideration. I know Texas and Florida have higher property taxes to compensate for no income tax, and that'll have to be taken into consideration in my analysis. 

HOA fees aren't necessarily a deal breaker. Vancouver and the surrounding markets are a different beast than most. Firstly, in Surrey, it is one of the fastest growing cities in Canada. It is the second largest city in the province of British Columbia, second only to Vancouver. There are many large developments being presented to the city and being built right now. They are right by the skytrain station (the arteries of transportation for the Lower Mainland) = higher rents, easy rentability. I'm talking about 1,500 unit, 4 tower complexes with unbelievable amenities. Also, Canada has "pre-construction sales" in which you buy a condo from a developer, put down 20% over a spaced-out period, and you only require a mortgage once the place is built. For example, I buy a pre-construction 1 bedroom condo from a developer at $350,000. The developers terms are: 5% down upon contract, 5% 3 months later, 5% 3 months after that, and the remaining 5% 3 months after that (for example). So I eventually put down the entire 20% down required for an investment property in Canada, but it's not a huge hit all at once. These massive developments take about 3-4 years to complete. I only require a mortgage when it's actually time to move in, so with 20% down, my mortage would be $280,000. I could easily rent out that unit for $1,700/month. Even if it doesn't cash-flow because HOA fees are ~$200/month, I'm banking on appreciation of the asset. In 4 years time, I am gambling on my condo appreciation quite a bit. Obviously this is high risk, but in an area that's being completely gentrified/re-developed, it's not a blind gamble. I'm familiar with the area and have met with realtors who've seen the plans for the re-development of that city. Not to mention you're within stone's throw from 2 skytrain stations, a new line being built, a new LRT being built, and one of Canada's top universities. If I could do this 10 times, I would. But to come up with a $70k down payment multiple times just isn't feasible.

I understand the enormity of the United States, and I'm just trying to get a starting point. I have traveled quite a bit in the States, but I think it's great to get a local's perspective. In regards to my list, I don't think it's impossible. The website niche.com is a powerful tool for analyzing cities/towns in the US. On a quick search, take West Meadows, Tampa, Florida, for example. It's a suburb of Tampa graded by the website as A+, public schools are graded A or A-, there is racial diversity, median home value is $262,956, it's only a 25 min. drive to downtown Tampa (hello restaurants and nightlife!), median household income is just over $100,000 (compared to the national average of $55,322). Also on a quick search, Physiotherapists make good pay in that area as well = no state income tax for my husband. Obviously, this is a computer-generated report based on many algorithms, and that's why I'm here, to get a more "boots on the ground" review on these areas! It may be difficult to meet my criteria and it is very broad, but I'm determined! All it takes for me is a quick flight out to these cities once the travel ban is lifted, to check it out for myself! 

No place is perfect, and I understand that. Vancouver, Canada was near-perfect for me, but it's unaffordable at this stage in my life. Plus, it's now the most densely populated city in Canada, meaning traffic is atrocious. But, you're right on the Pacific Ocean, so very ethnically diverse, food is amazing, you have views of mountains and ocean, and it's very clean and safe. But you're right, there's always a compromise.

Thank you for your input!

Great input, thanks! It would've been great to invest in Dallas or Austin 5-10 years ago for sure. I just didn't have the money then, haha! I've only been to Dallas but didn't explore too much of it. Austin seems like I would really enjoy it there; still on my list for sure!

@Susan Maneck I know Covid has been devastating to so many communities. I haven't spent much time in Jackson, but Mississippi does seem like is has a lot of opportunity. I have been thinking about buying a buy & hold SFR in Memphis/Olive Branch, Mississippi. Enjoy Tahoe! I've never been, but it looks beautiful and serene. I'm sure there are some great deals out that way! Maybe you can parnter with someone to get that deal? All the best!

@David Shapira That's a huge factor in decided to spend some time State-side! My taxes often reach 40%! Don't get me wrong, I really appreciate our health care system, but I'm just looking for a different opportunity.

Thanks for the link!

@Joe Cassandra We've also really been considering Charlotte and Raleigh. Atlanta has come up a few times too.

I do worry about the crime, though. I'm afraid I won't be as "street smart" coming from Canada! My husband is from Memphis and I unfortunately know first-hand how dangerous some places can be.

I'll take a look into Greenville, SC.

Thanks for your input!

@Victoria Seale oh we just loved Santa Fe! It does seem quite pricey, but what a nice and laid-back place!

I'm definitely a city girl at heart. However, the city I'm from had a great sky train system, so I didn't own a car until I moved! Being stuck in traffic is definitely not my idea of a good time! Something I'll have to take into consideration for sure.

Thanks for your input!

@Vincent A. Cipollone Florida is high on our list for sure. I'd definitely like to spend some time down there once the borders are open and we can travel. Hopefully once it gets to -40 Celcius here!!

I know the hurricanes are something we're going to have to learn about and battle against, but it comes with the territory.

I know lots of Canadians snowbird down there...Phoenix, too. Definitely can't blame them! Lol

Thanks for your input!

@Russell Brazil excellent numbers and opportunity. However, we're probably looking for a place with a lower barrier to entry financially, especially as I'll be leaving my job to pursue this full-time eventually.