All Forum Posts by: Account Closed

@Arwen Lothlorien agreed. I wonder how I can evaluate if a property won't fall down on earthquake. Years it was built, how tall vs wide the property is (I am interested in multi-unit) can be some big factors but anything else? Are there specific inspections for these kinds of evaluation?

@John Barrett I agree with that sentiment. I wasn't aware of the earthquake or even volcano insurance. Thanks for the feedback.

@Lynn Wise thanks for sharing that. Looks like Austin TX has a higher cost of living than Philadelphia, PA. If I wait few years to buy a house in Austin, do you see the price going up significantly high that it will reach close to the prices for northern CA houses? I wonder if CA house prices will go down as Austin house prices go up making CA more friendly to the buyers. Or is it too radical of a change that will take much longer to occur?

@Account Closed thank you for your feedback. At this point, I have a very limited budget so I will have to save up some money to even afford a house in Austin, TX let alone CA or WA. I took some closer look on Zillow and checked the houses recently sold in CA and TX to conclude that. 

Is mount Ranier a threat to long-term investment in Seattle or the nearby area? I was reading this article that says, the eruption, if happens, most likely won't reach Seattle but then again, it may. https://geology.com/usgs/raini...

People are still moving to Seattle and not sure if I should be considering this potential natural calamity into consideration. Any thoughts?

Hello, I am currently a Philadelphia resident and looking to move to a warmer state with growth in tech jobs. I am thinking among CA, WA (Seattle) and TX. I am not sure which state to consider. And even in the state, which city. I purchased a single family rental in philly 6 months ago and handed it over to property management company. I am still struggling to get tenant. If I don't get positive cash flow, I am hoping at least it will pay for the monthly mortgage.

Now, I am planning to move to a place where, after a year down the line, I can pay mortgage instead of rent. So a city where I can afford a second mortgage without being broke, and take advantage of positive job growth in tech, startups since job is important to me. Some cities I have in mind are:

1. Seattle (but very close to mount rainier which can errupt in near future. Even if Seattle isn't at immediate risk, why risk it..? i heard Seattle is also hostile to landlord but a lot of people are moving there).

2. Sunnyvale, San jose, Sacramento - other norther CA area. But I highly doubt if I can afford a second mortgage in CA. But if the potential profit outweigh the risk, I may be able to convince one or two of my friends to invest with me at the property.

3. Dallas or Austin - These cities in Texas are becoming more investor friendly and lot of techies are moving here or nearby cities. I just worry about the politics, lack of diversity and how welcoming the place will be to immigrants. Since this future property will also be a long term investment, I am trying to find a place where I will be comfortable living, growing and investing.

The plan is, I will rent there. If I like the area, I will invest in buying a rental property. And after investing, I will most likely continue to stay in that or nearby area. I've been in cold state for so many years that I am longing for a warmer weather. But if you think there are other cities in other state meet most of the requirements other than the weather, please share that as well. At the end of the day, good job growth and good and affordable investment opportunity will be more important.

Thank you so much in advance. I really appreciate your time.

@Nathan Gesner good insight. That clogging the toilet is starting to hit me.

@Miho Y. are you getting a certain commission from your tenant's airbnb income? Or it's the higher rent? How much did you increase it by compared to the regular scenario. Do you have anything special written on the lease to accommodate for potential risk?

Thank you @Drew Sygit for your feedback. Positive thinking is the way about this!

This gives me something to think about. Thank you all for your feedback on this!