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Old 01-13-2010, 07:28 PM
 
664 posts, read 320,857 times
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Hello everyone. I'm from Canada and my parents are thinking of retiring 5 years from now. They are planning on buying a house in the US for both investment and their retirement. Their plan is to rent the house until they retire. What places in the US do you recommend that has bitten the housing bubble? They plan on spending around 100K or less.

I'm looking for somewhere in or around California (my mom has family there) that is within driving distance to Las Vegas.
A place where the housing market has collapsed where you can get a decent house in a safe neighborhood for under 100K.
Near an international airport with links to Canada.

Any suggestions?

Thanks.
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Old 01-13-2010, 08:40 PM
 
5,090 posts, read 13,565,072 times
Reputation: 6928
Quote:
Originally Posted by ilovelondon View Post
Hello everyone. I'm from Canada and my parents are thinking of retiring 5 years from now. They are planning on buying a house in the US for both investment and their retirement. Their plan is to rent the house until they retire. What places in the US do you recommend that has bitten the housing bubble? They plan on spending around 100K or less.

I'm looking for somewhere in or around California (my mom has family there) that is within driving distance to Las Vegas.
A place where the housing market has collapsed where you can get a decent house in a safe neighborhood for under 100K.
Near an international airport with links to Canada.

Any suggestions?

Thanks.
The easy answer is Las Vegas. Housing has collapsed--many good values. A big international airport with links to everywhere. You are close to California but right near the action of the strip. There are many nice safe neighborhoods in Las Vegas with new inexpensive housing. Much cheaper than living in California. Weather in Las Vegas is mild and hot--certainly better than Canada.

Livecontent
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Old 01-13-2010, 10:47 PM
 
Location: Under a bridge.
3,196 posts, read 4,835,426 times
Reputation: 977
..um Noth Las Vegas--Summerlin.
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Old 01-14-2010, 12:24 AM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
22,697 posts, read 40,084,074 times
Reputation: 23854
Quote:
Originally Posted by livecontent View Post
The easy answer is Las Vegas. Housing has collapsed--many good values. A big international airport with links to everywhere. You are close to California but right near the action of the strip. There are many nice safe neighborhoods in Las Vegas with new inexpensive housing. Much cheaper than living in California. Weather in Las Vegas is mild and hot--certainly better than Canada.

Livecontent
  • yes, LV, add to above mentioned benefits:
  • no state taxes to file for income props
  • EZ state for Corps and LLC's (Good way to hold rental props)
  • Fairly accessible to Grand Canyon, Utah Parks, AZ, CA, and north NV
  • Great parks near LV (valley of fire Nevada Division of State Parks - Valley of Fire State Park & red rock Red Rock Canyon)
  • Often the cheapest airfare (tho you might want to reserve as 'inbound' with
    LONG stays or use SWA to nearest port in USA to Canada destination (often $69 from SEA or PDX to LAS) (Leave a $100 car near US airport for trips back to CDN.)


FWIW... I would focus on finding a multi tenant building to buy (Duplex / 4 plex), thus... in the future your tenants will be paying YOUR rent and good opportunities for using CDN $ to buy cheap US assets for future inflation hedge. Another option is a home with guest home or suite that can be rented or used for guests. These options make it nice to leave for a few months and have someone to watch your place, besides bringing positive cash flows. You can mortgage and improve property just enough to shield any 'reportable' income, while growing your equity in a 'bargain-basement' property. Later you can 1031 (Tax free exchange) into something else you like, or a different locale you want to explore.

Last edited by StealthRabbit; 01-14-2010 at 12:43 AM..
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Old 01-14-2010, 08:53 AM
 
Location: Oxygen Ln. AZ
9,321 posts, read 16,601,496 times
Reputation: 5692
There are a few spots in northern CA, but you will find shacks and mobile homes for under $100,000. The area is about 1.5 hours north of Sacramento airport and 4 hours from San Francisco. Paradise, CA is a cute little town an sits up in the foothills above Chico, which is a college town with wonderful little shops and restaurants. You can check on Real Estate Listings, Homes for Sale and Rental Property Listings – REALTOR.com® and plug in 95969 for the zip code to see what you can find. I cant think of any community in CA near an international airport for under $100,000, not even with the bubble bursting. AZ has several nice communities but about an hour from the airport. Maricopa, AZ is very cheap right now and I think it took my daughter about 45 min or so to get to the airport.
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Old 01-16-2010, 08:36 PM
 
Location: Not where you ever lived
11,544 posts, read 26,043,456 times
Reputation: 6248
There are beautiful places to live in the US as well as Canada. Your parents must live where there is excellent medical care. I can think of a half-dozen places where I can find it. I personally would not live too near the strip dut to noise and congestion. If you have not driven in bumper to bumper strip traffic for miles, you do not know what fun you missed. On the other hand you do not want to live to far removed from medical care either.

The desert is not. Swamp coolers do not cool in the same way as air conditioners because they add water to the air. I personally hate it, but I live in 4 season state. It does make a difference.if your parents do not enjoy long hot summers. I Personally prefer Palm Springs and Oceanside, California to LV..

Regardless of where your parents move, they will need a property management company simply because the nicest renters in the world do not care for your property the way you do. Pipes freea3, roofs leak, plumbing doesn't work. You;ll patch nail holes in the walls. replace carpet, door locks, and paint at least twice in five years. You cannot rent without first running a complete background check and verify bank, employment, and former landlords. It is what your parents will do it they do not live next door. And if you live too close, you have someone banging on the door at all hours of the day and night. This is why they need a management company.

Been there, done all of it. Too old to do it again.

Last edited by linicx; 01-16-2010 at 09:33 PM..
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Old 01-18-2010, 05:34 PM
 
1,618 posts, read 3,376,049 times
Reputation: 1752
Quote:
Originally Posted by ilovelondon View Post
Hello everyone. I'm from Canada and my parents are thinking of retiring 5 years from now. They are planning on buying a house in the US for both investment and their retirement. Their plan is to rent the house until they retire. What places in the US do you recommend that has bitten the housing bubble? They plan on spending around 100K or less.

I'm looking for somewhere in or around California (my mom has family there) that is within driving distance to Las Vegas.
A place where the housing market has collapsed where you can get a decent house in a safe neighborhood for under 100K.
Near an international airport with links to Canada.

Any suggestions?

Thanks.
I am curious. How will you emigrate to this country? Isn't there a lot of legal paperwork that will have to be filed to become a resident?
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Old 01-18-2010, 08:43 PM
 
Location: San Diego CA
4,912 posts, read 3,407,303 times
Reputation: 7879
We seem to have quite a few Canadians here in San Diego especially in the winter with license plates from Alberta and Manitoba. Met a couple on the beach last week from Calgary.
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Old 01-19-2010, 12:21 AM
 
13,350 posts, read 25,617,103 times
Reputation: 20624
Visiting is different than owning and living somewhere, paperwork-wise.
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Old 01-20-2010, 02:22 PM
 
Location: Tucson/Nogales
17,455 posts, read 21,299,483 times
Reputation: 24315
Quote:
Originally Posted by dcashley View Post
..um Noth Las Vegas--Summerlin.
There are any number of safe older, established townhouse complexes east of the Strip, built back in the early 70's, with lots of retirees. You need not go to the newer areas of Las Vegas.

Check out the east central townhouse district of Las Vegas with a lot more conveniences than the newer areas of town.
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