How many times have we all said that? I’ll confess to probably more than my share.
Back in 2003 I’d begun telling clients, and whoever else who’d listen, to forgo the cartoonish San Diego appreciation and head to more stable ground. Once blue collar 40 year old duplexes are selling for over half a million? 
Seriously, did the Lord tap me on the shoulder and whisper into my ear? Did He give me the scoop?
“Thou shalt leave San Diego and wander yonder, until the promised investment lands are found.”
“Investment lands? Plural?”
“Verily I say unto you — get outa Dodge! Folks listen to you — at least sometimes. Many of them will make the correct decision — most will hang in San Diego, wandering for who knows how long. The last guy I tried to lead to some great real estate took 40 years and…never mind it’s a long story. Besides, I already wrote a book about it.”
There’s no Promised Land out there — at least I’ve not found it. Been lookin’ for it so long, flying so often, a Southwest flight attendant recently asked me how Mom was doing.
There are some places out there offering solid locations, very reasonable prices, old school financing, and pretty attractive rent/price ratios. Translation: relatively higher rents & lower prices. It’s one of those ‘best of both worlds’ kinda things.
It’s my contention the next 10 years could be the most boring decade in recent memory. However, like vanilla ice cream, possibly the most boring dessert ever created, it can be significantly improved upon.
For instance, a little chocolate sauce, even warmed up a tad, makes vanilla ice cream nearly edible. 
Now Jamocha Almond Fudge…
Back to the next 10 years.
The South and West are benefitting from consistent population shifts aimed at those two compass points. That trend will only continue, as folks will always follow jobs and a better lifestyle.
Places like Phoenix, Boise, Salt Lake City, Austin, Kansas City, Denver, Atlanta, parts of both Carolinas, and several more, are going to experience long term, steady, boring — growth. Some them, Boise and Austin to name two, will change dramatically in the next 10-15 years. Austin’s already well on its way, and Boise? That one will be fun to watch. The stars are aligned in favor of that city. Weather, recreation, very family friendly, median prices still comparable to San Diego — in 1995.
Nobody knows what the next decade will bring. Anyone who takes themselves seriously can only make a guess, based on incomplete data, and conclude what they will. Extrapolating 10 years from now will only make us blush later on.
Make a pact with yourself. Regardless of how the next 10 years turn out — don’t be in the position of lamenting — Shoulda Woulda Coulda.
Where you invest wisely, with a Purposeful Plan, and a vision — that’s your Promised Land.
Endless wandering will get you nowhere fast.
Related posts:
- Real Estate Investors: If You Had To Retire In 2017 Would You Be Happy Or Anxious?
- Why Are Real Estate Investors Leaving San Diego?
- Real Investors Are Looking Beyond Next Year
- San Diego Real Estate Investors — Some Reasons to Invest Out of State — Try Texas
- Real Estate Investors — If Duplexes Are More Than $400K In Your Area? Get Outa Dodge Now
About BawldGuy
Patience is a virtue and also diversification.
While many SFR’s have gone down in Phoenix, apartments have risen 6% in the last year. The reason: more renters for apartment, lower vacancies results in lower cap rates for apts. Because all those forclosed families need an apartment to live in now. I find it interesting how one thing goes down and another goes up. Imagine if you had oil royalties right now!
Thanks for reminding us to stay away from the “coulda….”…a painful waste of time.
You’re welcome, Cher — It’s always the big picture investor’s should be viewing.
The big picture often generates patience.