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Updated almost 9 years ago on . Most recent reply

Account Closed
  • Middleton, WI
6
Votes |
22
Posts

Where Should I Move... Scenario - Help me plan my future

Account Closed
  • Middleton, WI
Posted

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!

Most Popular Reply

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2,771
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Al Williamson
  • Rental Property Investor
  • Sacramento, CA
1,233
Votes |
2,771
Posts
Al Williamson
  • Rental Property Investor
  • Sacramento, CA
Replied

Wow congratulations! You are truly using the full power of BP. I haven't quite seen someone do it this well.

I'm convinced you're going to peg your 10 year goals. I'll bet on it.

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