ROI is far, far better in other states. AZ, FL, and TX are warmer, and tend to be landlord friendly.why did you consider moving when you were looking at buying apt buildings? is it the amount of capital needed in this high-priced area or something else? I'd be interested to hear your answer...
ROI is far, far better in other states. AZ, FL, and TX are warmer, and tend to be landlord friendly.
And the colder midwestern states (WI, MN, SD, ND, MT, and upstate NY) have much better CAP rates, as well as some tax incentives.
Actually, that was a few years ago. I have no clue how these places are today.
Steve? Jesse? Bob?
Business can be GREAT, in whichever state you live in.
The best state for business?
A positive and creative state of mind.
A friend of a friend has a favorite saying, derived from Jerry McGuire:
Show me the tax!
He's become a multi-millionaire by buying, selling, and investing in places with onerous taxes.
His logic is that if he's creative, he can overcome the tax hurdles (or in the case of selling and paying capital gains, etc-- he'd rather sell and make LOTS of money, and pay tax, than invest in something that pays much less, and is tax-deferred).
Sound logic. We use it.
Our taxes/charges for guests that stay at the Inn are close to 17%.
That doesn't stop us from being one of the busiest inns in the wine country.
True life story: 20-something guy took his $1800 Roth money and bought stock in a start-up company. He knew the principals and thought it was going to really go somewhere. It did - it was bought out by another company, then bought out by another company, and I think there was even a 3rd buy-out. At the end of 5 years, his $1800 Roth had grown to $30,000,000. (Fast lane anybody?)
Amazing story, however..... This does NOT sound like fastlane to me. He was a passenger in a great investment. I'm not saying that 30MM is not great, I'm just saying that the ones in the fastlane were the company creators. My concern is that he is now cash rich but I'm not sure he will now how to keep/grow his money. How much of this is luck and muck is real talent (understanding and knowledge of what he was doing). In any case, great that he made $30MM from the risk he took.
What I think is a great fastlane mentality idea is to invest in your own business/deals with self-directed pension money. I think it is great because you are driving and deciding where the business is going.
I live in Texas I think it depends on what your degree is in.I am considering moving to Texas or Arizona within a few years.
Couple of questions:
In Texas, for a college graduate is Austin the place?
Arizona - where to go?
I won't probably have too much money yet and would like to stick around people my age 21-26 so I can do business during the day and still have fun at night.
Any personal experience living in those two states? Moving there when you don't know anyone?
yes he *might* of got lucky on his first deal but he has a formula that will allow him to keep making those type of returns.....
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