One thing that we felt was important in selecting our property was to hedge our bets by ensuring the property would function as a long term rental since we know the current climate in New Orleans regarding STRs is not positive and there have been on-going regulations coming out because of this. 

The metro area population of Montgomery in 2022 was 367,000, a 1.94% increaseResidents and large corporations are attracted to the State of Alabama's pro business climate of low taxes and Sun Belt weather.

I thought you guys were calling it climate change now?

The nature, climate, pace of life, and cost of living are a big part of what attracts people from different countries here.You’re also absolutely right that financing options for foreigners are very limited at the moment, and cash buyers dominate the market.

I like to be close to my properties so the 5 hour move on top of rising costs in NJ would lean me toward selling especially if the climate is favorable now.

This is a challenging case, because it does feel as though you are dmaned if you do and damned if you do not - Carlos, I really like your thought approach, you do not give the necessary capital call you are 90% risk of losing, you give the capital call you slightly lower chance of losing - but still feels like a tough hill to climb Our team at Smartland purchased all heavy value add through-out the same time period, large multifamily - we went into with a strong basis an arsenal of capital to do the construction work and kept one focus, get through the business plan, renovate the units, but this had to be done in a very high velocity as fast as the interest rates were rising, we felt the need to press hard on the construction gas and work through units  - so if we were faced with this climate that we are in now and interest rates do not soften we would not be deep in construction but rather focused on  administrative costs controls and lease-up.

My thoughts regardless of the economy is that it is crucial to be able to sit tight with RE so you aren't ever forced to sell in an unfavorable climate.

Track record, unless it goes back 30 years, is pretty meaningless to me in today's climate. 

IF you gave it 65-75 degrees in that type of climate that should be more than fine. 

I have found that going that extra mile, like the couch covers etc and making sure the person with the disability has the easiest time visiting our place.As someone with a disability (I have a degenerative neurological disorder) and use a cane, I like to make sure folks with similar issues have a good time.