Originally posted by @Robert Matelski:
@Tigran Kalaydzhyan, you're kind of my idol then. I think only New Yorkers can come close to Californians in understanding the pain of living in an outrageous income tax locale! Have you found life in a mid-sized city palatable after living in a major global city? Are you doing real estate full-time at this point? I'm not sure I would want to leave the W2 world just yet, even if I do relocate to TX, as I am [in theory] in the prime earning years of my career (~10 years post-MBA), so I would probably move to Austin or Dallas if I go that route.
Abilene is a little different from other towns of this size - it is more active. It is a combination of convenience (the most distant points within the town are separated by a 15mins drive) and a variety of things to do (you can have a look at Google maps to see the local businesses, bars, restaurants and recreation activities). It has 3 universities and a bunch of smaller colleges, a major military base, a big hospital - these are the main employers. Local airport connects you with the rest of the world - also around 15 mins from home to the gate!
Anecdotally, in 2020, our life was more active here than in NYC, because we didn't have so many restrictions in place. I derive my income from my own business, so I don't rely on W2 salary, but I can confirm that there is a lack of high skill job positions in Abilene, which you could be interested in. People are super nice here and they have pride in what they are doing, but it can be challenging if you decide to form a circle of intellectual friends or to hire highly competent people. However, I like the peace (especially in the current chaotic environment), good weather and I also think the local population has more common sense than in CA or NY :-)
I don't do real estate full time, only when I want to grow my business - my income is mostly passive. I spend most of my time learning the markets, business and law - something I couldn't do while working full-time jobs. If you are used to (or even native to) NYC, then it probably makes sense to start from a larger city and then see if you want to downsize. In the meantime, you can invest anywhere you want, because many of the real estate participants are used to the remote showings, closings, management and even rehabs. Just make sure you vet the people beforehand.
