Taking the leap - Relocation for RE Investment Opportunity

[Chad Gaither]

Would love to hear a personal account from an investor who relocated specifically to invest in a more favorable RE market. What went right? What went wrong? What do you think were the most valuable metrics to research, toughest obstacles to overcome etc.? 

[Alexander A.]

Hey @Chad Gaither

I moved from Austin, TX to Indianapolis literally for the sole reason of buying real estate and being able to achieve financial freedom faster.   I have been living this new life for approximately 1 year now and I can honestly say it was the best decision for me and my wife.  My life is as stress free as can be now and I have already increased my monthly cash flow close to $2k per month more.  Life is way better for me because of this move.

I chose Indy because of the cheaper cost of living, its clear signs of growth, and good price to rent ratios.  

I was able to do this by cashing out (selling) one of the houses I owned in Austin, I made over $130k profit tax free (because I lived it in it for 3 years) and used that money to move and to begin my new investment strategy of purchasing fixer uppers, rehabbing and renting them out.   My old strategy was buying turnkeys in Indy while living in Austin.  

Since moving here, in just this first year, I have purchased 3 new rentals, fixed them up and rented them all out.   My cost of living has gone down considerably and my wife and I are enjoying everything this city has to offer.    We actually love it!  I now have 7 rental properties and even have one performing note that I hold.   

What went right? Well pretty much everything so far (knock on wood).   I was lucky enough to be able to retain my job in Austin.  When I disclosed to them I was leaving and ready to put in my notice, they offered to allow me to work the same job remotely.   This made my life so much easier and pretty much removed any possible stress that I was going to have.    I now have been working from home for the last year and couldnt be any happier with it.  No more traffic and the amount of sleep I get is amazing.  Being able to wake up just a few minutes before I start my shift makes a huge difference.  

The toughest obstacle to overcome was leaving family and friends.  We came to this new life only knowing a few people here and not having any family.    Since then we have already made new friends and got involved in our community so we are constantly keeping busy and meeting new people which is great.

As for family, we plan yearly trips/vacations to go see them which isnt a big deal at all.   We aren't really missing family yet to be honest.  But that could change in the future.

Let me know if you have other questions.