Relocating to Dallas: No Lined up Job/Few $Thousands in my Pocket (Houston: extended stay, lease)

[ABQ1]

Thanks in advance for your insight on my questions.

First, is it a risk worth taking to relocate to Dallas WITHOUT a job lined up, with a few thousand $dollars in the pocket?

- Work experience area is in financial analysis in healthcare (about 8 years experience)

- BS accounting & Master degrees (not MBA though).

- Been out of a fulltime job for 12 months (have done 2 short term contract jobs within the 12 months).

- A family of 4 (wife nursing 6 months old baby & currently not working)

- Made $95k last fulltime job but willing to take 20 - 30% lower, if I have to.

- One child in 2nd grade so, school consideration is important.

- Will take temporary/contract immediately while I hunt for fulltime job.

- Of course, we'll rent at first.

So do I have a shot at landing something quiclky in Dallas before the "few $thousands" run out?

[TrueDat]

I never like to encourage anyone to move to a new city without a job and/or relatives to stay with -- especially anyone with a growing family -- as that seems like a recipe for disaster. A few thousand dollars isn't going to stretch very far with several mouths to feed (including a newborn), rent to pay, and no friends/relatives/contacts to help out if things don't break you way immediately.

However, I do think the health-care job market is much more robust here than where you're from (Albuquerque I'm assuming). There are so many large medical institutions in North Texas and they always seem to building/expanding (UT Southwestern/Parkland, Baylor, etc.)

[Komeht]

Do you have a shot? Sure. Is it worth the risk? IMHO - no. Moving a family of four involves a tremendous amount of moving expenses. You are new to the area and in the toughest situation to get work out of. Get something lined up - at least one of you needs some kind of employment before making a move like that.

[dallasboi]

And looking for a job with no solid address is kinda complicated.

[Squirl]

If you could use an agency that places temp accounting and get yourself a 3 month contract and just stay at an extended stay hotel while you submit resumes locally this may work. Have you been submitted resumes in the DFW market?

[ABQ1]

TrueDat, Komeht, Dallasboi & Squirl thank you all so much for honest opinion.

This current job market is unpredictable anywhere however, I see quite a few more finance positions in Dallas/Houston areas than my current location. And I have applied to a few and interviewed over the phone however, I sense this reluctance with out-of-staters even when I tell them that I will relocate myself.

And you're very right, a few $thousands can be blown in in 2 months. We blew over $45k in 7 months from our savings before I began doing temp/contract work.

Squirl, your idea of an Extended Stay and getting a temporary in Dallas while looking locally is an options I thought about earlier but owing to family I benched it. I believe that's the better options with less risk.

I can't believe it! I used to get jobs so easily!

[Johnhw2]

I agree the advise of get a job first the move is ideal. However some job markets are so bad that staying in a bad job market is not a good option either. Both options are risky ones. Long term, Tx is going to better economy for jobs in my view. When faced with two bad risky options, take the one with the best fundamentals long term even if it is a higher short term (moving cost) option.

Dallas and Houston both are huge cities with large expanding healthcare industries. If you cant find the right job where you are... moving without a job isnt great but might be the right course

[ABQ1]

Originally Posted by Johnhw2

I agree the advise of get a job first the move is ideal. However some job markets are so bad that staying in a bad job market is not a good option either. Both options are risky ones. Long term, Tx is going to better economy for jobs in my view. When faced with two bad risky options, take the one with the best fundamentals long term even if it is a higher short term (moving cost) option.

Dallas and Houston both are huge cities with large expanding healthcare industries. If you cant find the right job where you are... moving without a job isnt great but might be the right course

John, thanks for that! Actually, that was how I looked at it after six months without job. I should have left quickly after my layoff when I had good financial room to play around with but I kept saying that I will get something. Now, it must be done but the financial room to play around with has drastically dwindled to a scary level.

Knowing where I am currently and considering other variables, I still think that taking the risk in leaving for Dallas or Houston, is the better option.

[ChristieP]

I will also suggest coming down by yourself and getting an extended stay place while you look for work. Once you find something, then bring the family.

Most landlords I know will not rent to someone who has no verifiable income source. So, coming out here with the family in tow will make your situation even worse. If you don't find something quickly, you all could end up homeless! Also, remember that the DFW area is HUGE, so putting down roots before you find a job could set you up to have a horribly long commute, and make you have to move again after your first lease expires.

[BigDGeek]

Unless you're about to end up in the streets where you are currently, I'd stay put and try looking for work in Texas and save as much as you can so if you do end up moving here unemployed (which I don't recommend, it isn't like the streets are paved with jobs here), you'll at least have a bigger cushion.

There are lots of long-term unemployed people in DFW.