New Investor Seeking Advice on Relocating and House Hacking

[Tony Schmucker]

Hi everyone! I’m a new investor based in WA state with an exciting opportunity to relocate for work in the U.S. and out of the 92 cities available, I’ve narrowed it down to 13. Using criteria like price-to-rent ratio, pop growth, employment trends, and wage growth, relying on multiple sources (PropStream, Zillow, Rentometer, FRED) to calculate averages. I'd like to share the excel file but I'm having trouble navigating FilePlace to upload it.

Appreciation vs. cash flow, I’d prefer a balanced market that offers some appreciation potential. Though, my main goal is to be break-even or close to it in cash flow once a property manager steps in to take over. 

My real estate goals include investing in long-term rentals with the potential for mid-term rentals, leveraging my spouse’s career as an OT in the healthcare industry. I’m interested in house hacking small multifamily or single-family homes with ADUs. The plan? Live in an area for 2-3 years, self-manage the property, and then relocate again, passing the baton to a property manager.

I’d love to hear advice on any of these markets for making this approach a success!

Cities I’m Considering: 

• Saint Paul, MN
• Des Moines, IA
• Omaha, NE
• Sioux Falls, SD
• Wichita, KS
• Oklahoma City, OK
• El Paso, TX
• Knoxville, TN
• Nashville, TN
• Clarksville, TN
• Charlotte, NC
• San Antonio, TX
• Dallas-Fort Worth, TX

[Benjamin Carver]

Quote from @Anil Shah:

It's unfortunate Raleigh-Durham didn't make your cut of 13 cities but Charlotte is definitely the city to choose in NC if your want the city feel. If you are in tech, I feel like Raleigh-Durham has better opportunities than Charlotte though. But your can't go wrong with either. Good luck with your move and if Raleigh-Durham makes the cut, let me know. 

^

 What made you choose Charlotte over Raleigh? Pure curiosity here