Since moving last July we have been renting our house in Altus Oklahoma. That has been a great decision.
As fate may have it that we will probably be moving back to Montgomery Alabama. There are better work opportunities there than anywhere else at this time for us. Montgomery is also a good area to buy and own rental property.
Success with the Oklahoma property and us probably moving back to Montgomery has led me to be bitten by the real estate bug again. I have been reading retired Air Officer RIch Carey’s blog since 2019 who has been very successful investing in the area and reached out for some neighborhoods to limit my search. I’ve also found Coach Carson and a great spreadsheet he made about assessing the potential of a property. As a note, I plugged in my numbers for the Oklahoma house and they are excellent.
All of this research has been entertaining as I have still a lot to learn about real estate. It is a financial frontier with areas I still need to explore. Also looking back at the other two properties I have owned in the past I regret having sold both of them.
Our plan currently (which probably will change) is to purchase a house to live in and when we move and then use as a rental later. I also want to buy a new rental house every two years with 20% down until we have 4 or 5 total rentals. When I have modeled this scenario in ProjectionLab it has done much better than continuing to invest solely in index funds. The houses will be in traditionally blue collar neighborhoods.
Millionaire Librarian 