Where to go?

Question

Hello all on BP! First off I know this question has so many variables and there is no correct answer but id like to hear your opinions and welcome all feedback.

A little about myself, I'm leaving the military next month and have been trying to find the right place to relocate to. I am from North Dakota originally and have spent the last 5 years in Southern California. My plan is to Wholesale and flip in order to fund rental property acquisition. I don't want to go back to ND, i just don't see that the market would support what  i am trying to do, and the California market is to expensive and competitive for me starting out. I have no ties to any specific location. I can no longer qualify for traditional financing to purchase a property to move to , so id like to find a house for under 40k in a decent area that we could pay cash for and use as a rental in the future, or live in for an extended period. Id like to stay where its a bit warmer (than ND) but that's about it.

My first plan was to go to Jackson ms, the amount of extremely cheap houses was enticing and  I  was strongly considering this for quite some time, I talked to 3 separate Realtors that were of no help as far as getting neighborhood information. So I did as much research as i could online and found that all the cheap properties were in pretty rough neighborhoods and the local economy did not seem to support flipping in any significant volume.

I then looked into Memphis TN, again all properties under 40k were in rough neighborhoods.

I'm now leaning towards San Antonio, Austin, Dallas, or Houston

The only problem with them is finding a house under 40k for us to live in, I did find a few Manufactured homes in the country close to Dallas and some a little over a hour north of Houston, I would be fine living in one of the manufactured homes close to Dallas for quite some time, my only issue is tying up most of my free cash in a house that i cannot refi to free up the cash again.

Thanks for taking the time to read my rather long post and i look forward to hearing your suggestions!

Bill Gulley · Answer

LOL, just kidding, OK has some well kept secrets, dust storms, tornados, LOL

No, it's got some really nice areas, weather, opportunities and good down to earth folks. I've had family there, so I've had to go there, I survived, LOL.

OK City is a fun town/city, lots to do. A good state for outdoors types too. :)

Sara Cunningham · Answer

I am with Deborah on everything she said in the previous post. We have spent all our time and effort in Oklahoma City buying exactly the kind of properties that you are looking for. We bought 1 property for $15,000 and flipped it from top to bottom for a total investment of $43,000 We have also bought several in the price range you are looking at and been able to rent them with very little extra cost involved. She is also right about the weather. As fellow ex military we wish you the best of luck.

Brian Gibbons · Answer

Booming Suburbs

Booming Suburbs Attributes

Some of the factors that Coldwell Banker®picked to select the Best Places to Live for Booming Suburbs

• Job growth and availability
• Many employment opportunities
• Many car commuters
• Gas Affordability
• High percentage of home ownership
• High number of people who eat in
• Median disposable income
• Safety is a priority
• Good schools nearby
• Home improvement is a priority
• Access to outdoor activities stores
• Outdoor activities
• Cultural activities
• Many single family homes
• Leisure activities

• 1. Cottage Lake, WA
• 2. Prairieville, LA
• 3. Fruit Cove, FL
• 4. Sammamish, WA
• 5. Mercer Island, WA

• 6. Riverton, UT
• 7. Brentwood, TN
• 8. Lehi, UT
• 9. Cooper City, FL
• 10. Maple Valley, WA

Funny I dont see MO there Bill Gulley  :(

source: http://bestplaces.coldwellbanker.com/best-places-to-live/booming-suburbs.html

Deborah Burian · Answer

Bill Gulley - ok, that's about enough out of you about Oklahoma :-)...

@Maverick Voigt , you could absolutely accomplish that in Oklahoma City in an OK area, plus we have a booming economy and it's warm more than its cold. A 40K house wouldn't be turnkey but you could get there with a couple of grand and some sweat equity.

Welcome to BP nation

Brian Gibbons · Answer

U R what you see, what hear, what u smell, what u read.

Many people only know their back yard or their state.

The USA is one of the most diverse countries (money, politics, attitudes, etc) in the world.

I have lived in Ireland, France, Australia, and New Zealand, worked in IRE, NZ and AU.

There's a different flavor to the USA!

I lived in Auckland NZ from 2002 to 2010, made a ton in property, as there was massive property appreciation, renovating using the metric system (how many feet are in a metre?  yes its spelled that way.)

I hope the USA's economy and dollar remains strong, for my kids sake.

Go All Blacks!  Beat Wallabies!

Gerald K. · Answer

All of those places in WA listed by Coldwell Banker are fairly expensive. Good luck finding something around 40K.

Bill Gulley · Answer

I'm not Coldwell Bankers! LOL

Haim Mamane Palman · Answer

My take on it is a bit different. Live wherever you want and invest wherever it make sense for you.

If you plan to wholesale, you can do it virtually, you don't have to live in the market where you wholesale. You do have to have boots on the ground such as agent, contractor, and property manager.

If you prefer to do flips such as in Memphis for example, you can rent in a nice area for 1000-$1150 and put your money to work on flips as @Curt Davis mentioned.

Just my two cents.

Bill Gulley · Answer

@Maverick Voigt

there are many places here in Springfield, SW Mo. is full of places, Branson area around the lake, Arkansas and Oklahoma are options, yuk, LOL

Sounds like, buy, fix, sell, move on up. Smaller cities might work for you, even rural areas near towns.

Good luck.  :)

Justin E. · Answer

Have you looked into Atlanta, GA? You could buy and live in a place like 627 Utoy Cir SW, Atlanta, GA 30331 and do some small scale flips around the area.

Where to go?

Most Popular Reply