Where would you move to DC/Maryland/Virginia or Dallas ?

Question

I am one that believe in my saying which goes - "If you hang around a circle of 11 CEOs, You'll be the 12th" . With that being said, I know the Real Estate Investing path can be achieved anywhere so long as you are active on BP and take massive action however to be able to get the network that puts you one a fast track, one has to be in an area where one can meet with other investors and share ideas. Between the DMV area,Dallas, Austin, Kansas City, Chicago. Where would you move to and why? If you have any other location , do not hesitate to share them.

Nathan Gesner · Answer

The first thing you want to do is find out if the state is good for investors. Chicago is heavily taxed and regulated. What do you get for paying all those taxes? A government that will bend over backwards to help a tenant before lifting a finger to give you any justice. The market may look good but it may be a mistake to invest in a state that won't protect you.

Jordan Moorhead · Answer

@Tommy Adeoye it does flood a lot but you just have to pay attention to where you’re buying

Ann Shanley · Answer

What is your goal that you want to achieve by moving? How did you narrow it down to these cities?

Justin Thorpe · Answer

@Tommy Adeoye

It’s not clear what you are saying. Do you want to be a CEO and hence you want to move?

Tommy Adeoye · Answer

@Justin Thorpe . The saying is just pure analogy. In clear text, location! location! location! plays a big role in determining your success as a Real Estate entrepreneur and the network you build. The question may or may not necessarily pertain to me in particular.

Lucia Rushton · Answer

@Tommy Adeoye. When talking about Texas, Dallas is not heavily reliant on the O&G sector. There are lots of posts on here about all the companies moving to Dallas and the surrounding towns. Your tenant base here is not heavily weighted by any one industry.

Jordan Moorhead · Answer

@Tommy Austin, just the sheer amount of growth this place has left in it

Tommy Adeoye · Answer

@Lucia Rushton Dallas is certainly a diverse economy and most companies are migrating there . One can not underestimate "the old money" built primarily on O&G and REI.

Tommy Adeoye · Answer

@Nathan G. I have been to Chicago in person but going over their real estate infrastructure, I'm quite disappointed . I think it definitely needs a complete makeover.

Sarita Scherpereel · Answer

As a native Texan, I'm worried about the micro-economies in some of these oil/gas heavy cities. Most of my family still lives and invests all over Texas. It's concerning how many of these cities are built and function around oil and gas. It's a domino effect throughout the markets down there. With that said, it might be a good time to watch pricing trends to see if Austin were to make a price adjustment. Although a lot of the cities investment properties thrive with Airbnb which is taking a hit currently.

I'm bias to Chicago, I see a lot of opportunities here. There is a diverse inventory and strategy for 2-4 units that can be very successful for the first time buyer. And I strongly believe that we will have a price adjustment towards the end of the year. Keep an eye out on all these cities so that you do not miss any opportunities. Best of luck!

Where would you move to DC/Maryland/Virginia or Dallas ?

Where would you move to DC/Maryland/Virginia or Dallas ?

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