Anyone with experience with living and working in two cities!?

Question

Hey fellow investors, I was wondering if any of you had any experience living and working in two cities?

I'm an agent and currently live in the Portland/Gresham area and do all of my real estate transactions throughout the Portland metro area. However, my wife and I have been toying with the idea of turning our rental property in Bend, Oregon into a second home and living there part time while trying to establish a real estate business in both cities. We lived in Bend for 5 years, and I have hundreds of contacts up there already. I don't think it would be hard for me to begin closing a few deals a year up there, but I worry it may be too much trying to be effective in both cities.

I would love to hear if any of you have tried doing something like this before and if it works or if it ends up being too costly with the travel distance.

Thanks in advance!

Lisa Hoover · Answer

In my former realtor life, I easily sold well over 100 nice higher end homes every year-- because I FOCUSED.

I developed a very organized system

( felt like McDonalds as far as processing the client on-boarding-training then find it-buy it-close it part of transactions).

I chose my top 10 favorite parts of the Greater Charlotte MSA and I think clients were drawn to my success, in depth knowledge of each area.

The best part with a focused system is it permits quality time with clients.

If you will focus , develop your system --and perfect your support team of professionals, nothing can stop you and money just comes!

There is no reason you can't earn enough to pay cash for that Bend property (then it will be a cash flowing

machine and you can also afford to buy a second home there (with cash).

CONSISTENCY IN EVERYTHING AND FOCUS

Derrick Aragon · Answer

@Chris Parrish a couple deals a year is that worth it?? With that time could you close a couple more deals in portland.. there is no right or wrong answer.

Lisa Hoover · Answer

Hi

Is there a reason you aren't moving to Bend??

Which city will you choose to retire to one day??

I'm thinking it would be a challenge unless you had a "trainer" agent working for you in Bend to maintain a small office there to start your "BEND BRANDING CAMPAIGN"

Derrick Aragon · Answer

@Chris Parrish respect... good luck

Lisa Hoover · Answer

Hi Karen

GREAT COMMENTS!!

I live in Charlotte NC and as soon as i sell some commercial land here and my rental properties i'm retiring to Bend---but oh my ill need a place to stay for Jan-Feb maybe even March

every year.

I used to live in LA way back in the 80s so i remember Calif insanity prices.

Can you share your thoughts on what

Central to Northern Ca city that is remotely affordable and safe for an old lady to ride her bike a few miles daily

that has 50 F and above for JFM?

I love Bend, but the winter will be hard.

So i need to rent or buy a small condo to escape to every year

Thanks so much for your thoughts and pm me if you prefer!

Chris Parrish · Answer

@Derrick Aragon, yeah that's a great question. I guess we are basically trying to justify turning our cash-flowing rental into a second home. lol and the thought of selling a few homes a year there could help compensate for the loss in rental income. @Lisa Hoover, thanks for the insight! The reason I don't want to pack up and move there permanently is because I feel like as a realtor I have so many more options for growth here in Portland. I have such a larger population to work with, and so many cities within 20 miles of downtown Portland. Also, I have already established a name and reputation here and I don't want to just say goodbye to that. So I am not sure I want to "retire" in Bend, but I definitely want to have a vacation home there someday that I use frequently. But, like I said to Derick, I think maybe the main question I am asking is if it's worth giving up my consistent cash-flowing rental and taking it on as a second home. I could possibly AirBNB it on the side to supplement income, but that was the thought of possibly doing business in both cities - I could compensate for the loss in rental income.

Anyone with experience with living and working in two cities!?

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