All Forum Posts by: Rick Reeder

Pay close attention to flood zone status (always - but especially out by the airport/cota/telsa)

@Moriel Levy - yes!  Life is about tradeoffs sometimes and while Santa Barbara is beautiful, if you can only afford to rent a closet to live in, it's probably not worth it!  As @Ryan Kelly said - buy a plane ticket and visit.  You can afford a nice vacation with all the money you've saved on Cost of Living and Taxes!

Great article from ABJ on why so many companies are fleeing California.  I love visiting CA - the weather, food scene, wine, etc etc, but I couldn't imagine moving there from a financial perspective.

“Every company with a major presence in California right now — it's not even an overstatement to say this — their board of directors are, as a matter of due diligence, exploring options as a way to be accountable to their shareholders,” one site selector said.

https://www.bizjournals.com/au...

This is one of the big reasons Austin has been so hot for so long.  There are many others - most folks relocating to Austin come from other Texas cities... many of them, I'm sure, come for the jobs brought by these Cali ex-pats.  If you're in California, what would make you relocate or stay?

The hits just keep on coming!  Austin seems bullet-proof...

Interesting article from Axios.  They call out coastal cities, but we are seeing the same thing in Austin, TX.  Definitely exacerbated by our local building codes.

https://www.axios.com/us-home-...

I like Lockhart and Smithville seems to have growing panache as well!  Could be the Fredericksburg to the East..???

Investment Info:

Single-family residence buy & hold investment in Angel Fire.

Purchase price: $640,000
Cash invested: $40,000

STR in Angel Fire, NM. For personal use mainly in summer with STR the rest of the year.

What made you interested in investing in this type of deal?

My second STR purchase with a partner with a goal of using the property a little bit during the year, but also have renters.

How did you add value to the deal?

Paint, some flooring, etc., but most investment was in updating furniture, appliances, etc. for guests.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Great agent in Angel Fire. Wouldn't recommend our lender or title company.

I'm an agent here and well-connected after 22+ years.  Your question is pretty broad!  Here's some info on investing here... https://layer3realestate.com/i...

If you want to know about culture, neighborhoods, employers, etc. I can chime in; just need your help to focus my response.  Happy to jump on the phone too.

@Aaron Gordy - 27 miles from the airport, but 0.0 miles from great BBQ!  Smitty's, Kruetz's & Black's - all amazing! 

I agree with @Ken Boone - if you're paying PM fees anyway, you're spending your time and energy doing their job for them.  That said, I did set up a Facebook business page to let my friends know that if they're going to the lake or the mountains to rent a place, please rent mine! :)  That also allows guests to "check in" and circulate photos with their networks, etc.  But I don't spend any time pushing ads, etc.  Here's my example:

https://www.facebook.com/Ski-S...