Moving Forward into New Cities

[Oscar Montealegre]

I've been investing in Real Estate for 10 years now. 80% of my assets are in Los Angeles, the remaining 20% in Colombia-that's another story for another time.

In my last post I wrote that I am no longer investing in Los Angeles or any where else in California. Reason being is because the investment environment is too anti-business and anti-capital. And I when I write capital, I mean it in the literal sense. We are becoming a state of handouts and entitlements.

I'll stop ranting before I digress even more. As a result, I am looking at investing in other states. Please note that my list is in its preliminary stage and subject to change. Here is you go...

1. San Antonio-I expect a halo effect from Austin to hit this city soon; after my travels to San Antonio (July 2020) it seems it is already                happening.
2. Phoenix-It's hot literally and metaphorically speaking. But I don't see a bubble forming; in fact I see the opposite, a lot of upside.
3. Reno: Close to Sactown, relatively close to the Bay Area. No income tax is a plus for locals but out of state investors beware of investment      capital gains tax.
4. Dallas-Because its the opposite of Austin. Austin is cool, but its too hipster for my liking. I already live in LA, I don't need anymore "I'm too        cool for school in my life."
5. Bend, Oregon-Although Oregon is the first state to impose a statewide rent control mandate, I foresee the city growing even more now           than the norm. Especially with the increase of people being able to work remotely.

FYI, I am a long term investor. I don't flip and when I buy, I buy never to sell. I want cash flow and appreciation. If I need money, I refinance when it makes sense, take some cash out when I need to (especially now with such low interest rates), and deploy said cash into new investments. In short, I try not to complicate investing in Real Estate. Sounds cliche, but life is a marathon not a spring.