Where will you retire?

When asked the question of “Where will you retire” Some stay put do to family, work…etc. But if you have to time to chose - Go for what you want. This was my process.

What has worked for me is a very specific approach to finding land. First I identify with specific requirements or intended use. When first looking for a place to retire, the question was where would I retire? I reside in Texas, but I love the mountainous terrain with large trees. Considering I would retire in 15 - 20 years, I had to give consideration on how many times a year I intended to visit the property and how long would it take to travel there?

I took a compass and drew a circle around where I lived and that circle was about a 12 hour drive in 360 degrees - Except for the Gulf of Mexico. I then drew a circle around another location that we loved to visit and figured that being retired, we would not mind driving to this location up to 8 hours. This process was repeated 4 - 5 more times with distances calculated for each event.

Eventually, all my circles over-lapped in N.W Arkansas, N.E. Oklahoma and S.W. Missouri. Now the fun begun!

I wanted navigable water ways, creeks or lake frontages. My wife on the other hand, said Your not going to drag me out to the boon docks with no civilization. At least a Wal-Mart had to be with-in a 30 - 40 minute drive.

So, Again back to the circles. “Circumscribing civilization” Once I located the "Wal-Mart’s and put them in circles within a 40 minute drive. Again started the process of cutting out areas that did not suit my needs or hers.

Ended up with about 10 circles, within an area covering a 400 mile radius.

NOW is when the fun really started.

Each one of those circles in these three states, I identified the counties and using Google Earth and other aerial satellite imagery, started to scan each property for characteristics I thought desirable. Ten circles begin to cut down to 3 - 4.

I purchased plat ownership maps to identify properties sizes, owners names and addresses. Using that data along with county tax office web sites, we started taking vacation trips to different areas. Just riding roads and looking. I was confident that the property I wanted was not listed. Everything is for sale, right. The owners just needed to asked to sale. Make them an offer! WE DID. Do you home work first! Find out everything you can from the county and public records. It is best to spend the money on a title search to know the history and if there are potential liens. Don’t buy a head ache. I have done that too. Long story.

After you locate the area you are drawn to, use every resource you can. Realtors, bulletin boards, coffee shops…etc. You will be amazed at the information and leads people will share.

We found our piece of heaven in S.W. Missouri in the Ozark Mountains. We are working toward the days when we don’t have to work.
I hired a tax / real estate lawyer to assist me in the purchases.

Using the same due diligence method, we have picked up properties for very little expense, just by being focused on the details.

Good Luck.

Never gave it that much thought,

Having been in the military and all over the world, I wanted to go to Washington State as real estate looked good there so I went.

Did not retire, rtooliberal and completely UNIONIZED, just went and di real estate.

Wound up later on the sunny hurricane prone Gulf Coast and have never looked back.

Had three homes at one time and enjoyed living in all three.

YEP, DO WHAT YOU want to do and ENJOY it.

Hi,

I am thinking a nice mahogany box in a beautiful stone memorial in a big open meadow!

You see I love what I do and intend to do it until the day I push up daisy’s!

         GR

My meadow’s gonna be bigger than yours! :biggrin j/k

Jay,

   That made my day! Indeed it will!     :beer


      GR

My Pal in SoCal is funny and bragging, yet again, about his genetics!

I tried retirement in 1990 at the age of 39 and after one year, I was bored out of my mind! That is when I decided to become a real estate investor. 400+ deals later, I’m still not bored and actively investing…don’t plan on stopping either until I go back to the dust of the earth.

Having said all that, I learned early on from many wise senior real estate investors to pick a location where you want to live the rest of your life, then invest from there…after all, a rent and/or mortgage check can be sent in the mail for 50 cents from anywhere in the continental united states.

Don’t box yourself in to region or location…live NOW, where you will be happy and content, then start investing. We chose mountain/lake living and still invest in many states around the country. Retirement is over rated…keep active and you will stay healthy. And enjoy the winning combo; semi-retirement and real estate investing!

Hope this helps.

Rob

Me on my part I’ve been in Texas for many years but I want to retire if not in New York I’d love California as well Hope I can make the right choice

I love the Ozarks!

Plus, you’re in the perfect location to buy properties in Kansas City and find a manager such as myself to manage them. Hit me up if you are interested!

As far as your question, the goal for me is to have a self supporting management company and an investment portfolio. In order to do that, we will need about 80 properties, 20 of which are mine and paid for. I believe we can have this done within the next seven years, before I hit 40. Need to get my own house paid for too, but the wife and I are aggressively paying them down. It’s pretty easy in this Area to buy a house with 20% down and a 10 year note that still cash flows after maintenance and management. I figure it will take 20 of them to replace enough income to be financially independent.

That doesn’t mean retire, just full time in real estate.