Re:Ask HN: Laid off folks, are you getting hired?
by mywittyname on Thursday February 09, 2023 @04:21PM
(#34731672)
> Certainly, you can buy a fixer in the middle of Ohio, but who wants to live there?
Millions of people. It's the seventh largest state in the USA, is home to three major cities and many large multinational companies.
Re:Ask HN: Laid off folks, are you getting hired?
by latchkey on Thursday February 09, 2023 @04:36PM
(#34731875)
And? You're taking something personally and proving my point with that statement.
The millions of people who live there, already live there. That doesn't increase demand. It is a large state, so there is plenty of space to build. Density is centered around three locations and the largeness of the state means that people can expand out to the suburbs.
What you want is somewhere with a high density, inability to add more property and desirable for vacations (like a beach with views). San Francisco was kind of a good example of this for a very long time, until it wasn't. There are other cities on coastlines that fit this model though.
Buy a condo that has dual use (STR), refurb it, flip it.
Re:Ask HN: Laid off folks, are you getting hired?
by throwaway675309 on Thursday February 09, 2023 @08:43PM
(#34734547)
Yeah, no. Lived in Cleveland for several years, moved overseas to Taiwan and never looked back. I could do a quick canvassing of a dozen of my friends on the top 10 desirable states to live in and Ohio wouldn't even appear a single time.
The problem I see is that you need to find the fixer gem, but location matters. Certainly, you can buy a fixer in the middle of Ohio, but who wants to live there? There is just too much surrounding inventory with low desirability.
The thing that works in my eyes is to buy in areas that are extremely desirable, even pay a bit more for it, but very low inventory. That's where the insane appreciation comes in. Popular beach towns are a good example because they are land locked and can also be turned into short term rental properties relatively easy, which increases their perceived value.
It isn't easy to find such places and often requires paying in cash, but it is possible.