All Forum Posts by: Account Closed

Hey Santiago, I'm not active in the market but I would say it actually is a fairly good place to buy and hold. 

@Carl Dean Thanks for the feedback. My reservations are similar to what was mentioned before: the "texas mentality/bigotry", the scorching heat and dryness... uh??? not much else I guess. But coming from a freezing cold, liberal mecca (haha) like Madison to that might be too much. Or not. 

What are your guys selling points for the Dallas area? Is small scale farming even a thing down there?

Thanks!

@Chris Harjes Great post! So how else would you have went about acquiring new properties other than the method you did? Private money?

And are you saying that it's hard to make money in the entire southeast or just Asheville? Because from my (limited) research, Charlotte salaries would place us at around $110k+ in household income. Not bad imo. 

It's also interesting that you recommended we move to the Bay Area first. Lived there for 2 years recently and loved it but the cost of living is just out of control, making long term residency completely unrealistic. Of course, yes, wages are much higher but along with that comes the crazy high competition. Nevertheless, my quick calculations show that, to your credit, we would come out ahead living in the Bay (Wages - Housing = +30k for the Bay vs Charlotte). However, that would mean living in the Richmond area (longer commute, some pretty sketchy neighborhoods, 1bdrm apt vs 3bdrm house...) and that is not including any other high cost of living expenses that come with living out there (ie. food, insurance, taxes...). Sooo... would we really come out ahead in the end? 

Playing devils advocate here (because I'm secretly trying to get you to talk me into moving back, ha), how would one go about investing remotely? Especially across the country? Any sort of rehab based investment seems unrealistic, or no?

A lot of questions there for ya, but you really have got me playing around with this idea some more. 

Thanks!

@Dan Burstain Alright... Alright, you and @David Ferrette have convinced me Austin shouldn't be out of the picture, ha! 

Appreciate it, will be in contact.

@Thomas S. You know what, I did think about Knoxville but I was hesitant due to its size and location. Never considered Chattanooga, though. Will look into both!

@Dan Burstain I've heard great things about Austin. My only reservation is the cost of living and housing market both being so high. Job market does look good though! I lived in the Bay Area for a few years and, while Austin may not be on that level of ridiculousness, I just can't bring myself to live in that kind of environment again. Will continue to look into it though, thanks!

@Russell Brazil Same to you. Thanks for the recommendation but it just doesn't fit my requirements. Cheers!

@Jeff Berg Thanks a ton! Just the kind of feedback I was looking for. Yeah, I've heard about that Texas mentality thing and was a bit concerned about that. I didn't, however, know that about Atlanta. So big thanks for that info... whew. Will be in touch!

@Curtis Waters Will do.

Thanks Sid!

Byron, wouldn't you consider this part of "research"?

Thanks Sid! I'm really interested in Charlotte. What areas do you recommend we check out?

Here is your scenario –

Your financial standing is as follows:

• $80,000 in cash savings
• $70,000 household salary (will be $100k+ in 3-5yrs)
• $20,000 debt (school, cc and medical)
• $0 assets

You are married with no kids and can move anywhere in the U.S. Your only location requirements/desires are as follows:

• Must have warm weather 9+/mo out of the year
• Must have good - strong job market (UI Developer/Nurse)
• Must have relatively low cost of living (unlike the Bay Area)
• Should have healthy real estate market (rentals and flips)

Here are your long-term objectives/goals:

• Purchase at least 10 acres of land to build a small house and start a small permaculture farm
• Become financially independent in 10 years
• Establish the financial foundations for generational wealth

Given this financial standing, these location requirements/desires and these long-term objectives/goals, and a year to plan/move:

• Where do you move to and why?
• How do you start your empire?
• What challenges/obstacles will you look out for?

To give you an idea of where I've currently been looking here are some places that interest me, though I do have reservations about each:

• Charlotte, NC
• Dallas, TX
• Houston, TX
• Kansas City, MO
• Atlanta, GA
• Jacksonville, FL
• Reno, NV

My current (10 min) strategy is to buy a duplex, live in half and rent out half. Wait a few years... refi and buy another property... not really sure.

Thank you for helping me plan and I look forward to hearing your ideas and/or advice!