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Hello! We are PNW natives and our goal is to creative passive income, build a business in real estate and retire comfortably. What desirable areas are up and coming/and thriving on the west coast that aren't crowded? We need more wild open spaces! We are relocating out of WA. We love ID, MT & CO, UT. Our goal is to move within the next two years. We are in King Co and have a rental here. What college towns should we consider?
We plan to move to a mountain town but we are flexible on areas. We are self employed general contractors/and arborists. Interested in house hacking and multi-family investments. Live much closer/quicker access to the mountains! Think of North Cascades/Olympics, Tetons! I personally prefer more remote areas with more SUN & access to the outdoors with them at our doorstep or within an hour or less. We live minimally and enjoy very active lifestyles: skiing, snowmobile, mountain bike, backpack, hike, trail run, kayak/SUP, mountaineer, rock climb year round and need access to rivers/freshwater/alpine lakes. What areas should we consider? Am I looking for a unicorn?
I think you have to very careful about college towns.
Covid has had (will have?) a huge impact on small colleges and many will probably go out of business.
Small mountain towns don't have lots of jobs so you will have a lack of tenants in a recession. Is your goal to live in a small mountain town and have your rentals within an hour? What's the game plan?
I am an agent and investor and I wouldn't have a long term rental in a mountain town because I want a town that will have enough going on to attract tenants. If you are wanting to do short term vacation rentals, then that would be a different story.
Small mountain towns don't have lots of jobs so you will have a lack of tenants in a recession. Is your goal to live in a small mountain town and have your rentals within an hour? What's the game plan?
I am an agent and investor and I wouldn't have a long term rental in a mountain town because I want a town that will have enough going on to attract tenants. If you are wanting to do short term vacation rentals, then that would be a different story.
Yes that would be ideal place to start. I am also looking to relocate. We are open to different areas. Eventually have some short term rentals.
Where would you invest? I am looking for a towns not a "resort" town. We are coming from the eastside of Seattle, need sun, less rain/grey!
Sisters is the closest to what you are describing, but it is a vacation resort town. I don't know enough about that market to know if investing there makes any financial sense though. Home prices are really high and I don't know what kind of rent you can get for that. I don't know the rental market in Redmond to know if that city makes financial sense. Bend is not up and coming.
Oakridge is less touristy than Sisters, but I don't know if anything that is considered up and coming is near there for investments. I'm not clear if you want to invest in the city you live in or you are wanting to hire someone to manage it for you?
I invest in the Salem metro area because that is where I live. I drive by all my rentals at least once a month to make sure everything looks good. It is easy for me since I'm always out and about as an agent, but I personally would never buy a property that is more than 30 minutes from me as an investment. I've seen some bad property managers over the years.
Sisters is the closest to what you are describing, but it is a vacation resort town. I don't know enough about that market to know if investing there makes any financial sense though. Home prices are really high and I don't know what kind of rent you can get for that. I don't know the rental market in Redmond to know if that city makes financial sense. Bend is not up and coming.
Oakridge is less touristy than Sisters, but I don't know if anything that is considered up and coming is near there for investments. I'm not clear if you want to invest in the city you live in or you are wanting to hire someone to manage it for you?
I invest in the Salem metro area because that is where I live. I drive by all my rentals at least once a month to make sure everything looks good. It is easy for me since I'm always out and about as an agent, but I personally would never buy a property that is more than 30 minutes from me as an investment. I've seen some bad property managers over the years.
I am in Seattle area, not Central Oregon. I am looking for investing out of the PNW in the states I mentioned above. ID, MT, CO, and UT. We are looking at relocating out of state.
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