The Top 10 Markets People Are Leaving & Moving To

Foreign.

This is the no Closer show where you get the latest developments in distressed note investing and learn the secrets of how you can control millions of dollars worth of property For Panties on the dollar. Get educated and entertained by someone who has closed thousands of deals and lives to support you in achieving the same. Now here's your host CEO of We Close Nodes, Scott Carson.

Hey Real estate.

Investors, this is Scott Carson. I'm known across the country as the.

Note Guy and I've been an active.

Note investor focused primarily on the niche of non performing notes, distressed mortgage notes on residential commercial properties for almost 20 years now. My company is we close notes.com and.

I know there's a lot of different.

Things when it comes to the note world. Are you buying performing notes? Are you buying owner finance notes? Are you buying institutional debt? Like I would focus on Are you buying first seconds contract for each There's a lot of questions and it can be very confusing about what you can or cannot do. So one of the great things that we've hosted for the last couple of years that we do on just about a regular monthly basis is we host our one day class called Note Weekend. If you go to noteweekend.com you can register for our free three and a half hour class.

We'll talk to you and share with.

You how you find fun and flip non performing notes. And yes, you can buy non performing notes from banks, hedge funds and a variety of different hard money lenders out.

There for your own portfolio.

No, you don't have to have millions of dollars to dive into the non performing note game. We've got students that have bought plenty of deals with 2530 grand getting their ball rolling using their self directed IRA who are tired of dealing with toilets, tennis trash desks, tired of battling contractors and GCs to get properties rehabbed. We all know the market is changing and while it may not be like 2008, 9 and 10 again, it we do see a lot of distressed debt out there on both the residential and the commercial side. So if you're thinking about diving into the note game, becoming a note investor, a lean lord as you'd like to.

Say, versus the landlord.

Or you just want to figure out what it is about the sexy side of real estate in the note space. Well, check it out. Noteweekend.com doesn't cost you anything. We host it live usually the first or second Saturday of each month. You can go today. Register at the website noteweeking.com Register for the next live class we host. You'll get sent A replay to the previous class so you can start learning about the note business today. No questions asked, no credit card needed. This is a great way for you to dip your toes in the water and see if it's warm because I guarantee going through art three one day class. You want to dive into the deep end and become a note investor. So check it out noteweekend.com you can also go to our website. We close notes.com check out our podcast, check out our YouTube number one YouTube channel. We are here to help support you. Whether you're experienced investor or you're brand new investing Note weekend is a great place for you to get the ball rolling. People often say we cover more in our three hour class than most people cover in their three day class. So check it out. Love to have you be part of our note family but get signed up today@noteweekend.com thanks and have a great day.

Good morning, good afternoon and good evening everybody. Hey, welcome to this episode of the Note Closure show. As always, Scott Clarkson, happy 2024. All of you guys are out rock and rolling, killing it on today's episode. I want to talk about an article that Redfin released actually by Dana Anderson, who's a journalist over at Redfin who likes to study real estate trends. And the article is titled, you know, basically talks about how the pandemic, pandemic driven migration boom is waning based on the fact that home buyers relocating is at its lowest level in 18 months. Well, I don't necessarily mean it's waning. Yes, it's dropped based on some of the numbers. But what I really liked about the article that I thought you would find more interested is it lists the top 10 markets that people are moving from and the top 10 markets people are moving to. So, you know, I live in Austin, Texas and we always joke that Austin is trying to become California East. You know, we get a lot of people moving here in Austin. Austin most of the time is in the top 10 list, was no longer the top 10 list of people moving to, which I found interesting. So let's get to the meat and potatoes of today's episode. Right? So it talked about how, you know, you literally gave numbers on how many people like moving. One of the biggest surprises, people moving from like San Francisco and where they're moving to. So let's, let's roll about that. So the top 10 metros where home buyers are moving into by their net flow, net flow mean by the net of positive people moving in versus people moving out. All right. And Number one, the list was Sacramento, California, which is kind of surprise because it's, you know, the top origin of people moving to Sacramento is actually from San Francisco, which that didn't surprise me. If you looked at how crappy San Francisco's gotten late, people moving out of San Francisco, moving a couple hours away to Sacramento. First of all, homes are much more affordable. And going from there, that number is down from 7,000 to 5,100. Now. The second out of state origin people are moving to Sacramento from is New York's New York, which I found that kind of surprising. Well, people want to get the hell out of Dodge. Let's move to California where it's affordable. Okay. Second, which isn't a big surprise is Las Vegas, Nevada. Sin City came in at second. And LA is the top origination where people are moving from. They want to move somewhere where it's more affordable to get things done. And that makes a lot of sense. And a few years ago there was a big aspect of where folks from like the Oakland area were moving to Las Vegas. As Oakland was getting more unaffordable with the growth of San Francisco, those numbers may have changed a bit. Number three kind of surprised me is the North Port or Sarasota part of Florida. And it was the same net inflow, 3,700 people. Las Vegas was actually down from 6,400 to 3,800 in 2023, but that's okay. New York, New York, New York. People moving from New York City to the Sarasota area was number three on the list. Number four was Cape Coral, Florida with a whole different influx. It was down just a little bit, which may be due to the hurricane, from 4,000 to 3,700. But the two biggest markets, one is Miami. People from Miami moving to Cape Coral and so that fast pace of life, they want to move over to Cape Coral is a little bit more slower pace. And the out top out of state origin was actually Chicago, Illinois. People want to get out of the crazy Chicago and moving down to Cape coral. Okay. Number five in the list was Salisbury, Maryland. It actually almost doubled from 2022 from 2000 to 3600. The biggest influx is people moving from Washington, D.C. into Salisbury, Maryland. Tied for number one, two, three, four, five, six on the list was Myrtle Beach, South Carolina. And that was the same thing. People from the D.C. capital area moving out of that area into Myrtle Beach, South Carolina. Okay. Number seven on the list was Orlando, Florida. And that was basically up a little bit over here from 3,300 to 3, 500 in 2023. And the biggest folks moving in from there is from New York, New York. That was kind of a surprise. Eight on the list totally blew me away. It was Portland, Maine. And it's due to the fact that people from Boston. That's right, Boston. You gotta say it right with the accent. Boston, Massachusetts, are moving up to Portland, Maine. Maybe it's the same thing. Getting out of the hustle, bustle, the busy city, and something a little bit more laid back. All right, number nine, not a surprise. Been on the top 10 list for a while. Nashville, Tennessee was up a little bit, 2800 to 3000. And the biggest surprise with people moving, maybe not so much. If you think about it. People moving from la, not Louisiana, Los Angeles, into Nashville. That could do with the music industry. Obviously. That was, like I said, 2800 to 3000. That was number. That was good for number nine list. And number 10, making its first ever appearance on 10 list is Spokane, Washington. Those Washington Huskies up in that neck of the woods hit top 10 on the list, up from 2300 to 2500 year over year. And people were moving to Spokane from Seattle, which is a little. Just a little, a couple hours away. People predominantly getting out of the expensive cities of Seattle and moving to something more affordable in Spokane. The next biggest origination of people moving to Spokane came from LA, which really doesn't surprise me. So that's your top 10 list of folks where people are moving to Sacramento, Las Vegas, Sarasota area, Cape Coral, Florida, Southbury, Maryland, Myrtle Beach, Orlando, Portland, Nashville and Spokane. Now, how can we take that information, apply that into our real estate investment? Well, if you're seeing notes in those areas or seeing opportunities, Tom, in the ocean areas, it may make sense for you to take a look at that. Now, I've been bullish on just looking at this list. I buy in Nevada, I buy in Florida. I have gotten a little cold on Florida based on the insurance. But if you can overcome the insurance side of things, and these are not investment, these are actually homeowners, owner, occupants moving in the area. It makes sense. Maryland's okay. Myrtle Beach, South Carolina, Orlando, Florida, Nashville, Tennessee is overpriced. But I see some stuff there occasionally, so it's not a surprise. Those are the top 10 hot areas where people moving is definitely something to keep an eye on. Tom, if you're looking to buy real estate of a potential market to invest in or markets that are just outside of those areas, that might. Might make sense for you to keep an eye on you know, maybe it's not inside like, say, Nashville proper, but right on the Oscars. So that might make sense for you. Now let's talk about where the hell people are getting the hell out of Dodge. All right, now, LA listed tops the list of metros. Home buyers are leaving. It's for the first time that's led it. It's been a while there before. It was number two last year to Sacrament to San Francisco, but it's changed up again. So let's just go to LA. 26,000 people left LA in 2023. That's down from 30,000 based on 2022. And the top destination they're moving to is Las Vegas, Nevada. Not a surprise. We talked about that a few minutes ago. Number two on the list is San Francisco, down from 32,000 to 25,400. And they're moving to Sacramento or Seattle where it's more affordable. In Sacramento, still expensive, Seattle, but those that, you know, get the heck out of. The craziness is going on there in San Francisco, moving into Seattle, New York City, not a surprise. I've got friends that are moving the heck out of there that lived it for years, love the city, but it's just becoming. I wouldn't say it's. It's down because of the pandemic. It's just that with all the, you know, immigrants and people that are, you know, people crossing the border there, New York City is really becoming unbearable for a lot of folks. If you live in proper New York City now, if you live like in Queens or other places, not Manhattan or stuff like that, outside of it, people aren't seeing a lot.

But if you're in New York City.

Definitely, that's up from 20, just under 21,000 to just under 25. And where they. Where are they moving to? Viva la Miami. They're moving to Miami, Florida, for the most part. That's not been a surprise in a lot of cases. Number four is our nation's capital, Washington, D.C. down from 16,000 to 13,000 on the list this year. They're moving, like we said before, to Salisbury, Maryland. Seattle, Washington is a. This is a big, big surprise. Big, big surprise. In 2023, we're only like 1300 people left. Seattle, it's now up to under just under 12,000 people getting the heck out of Seattle. And they're moving to Spokane. They're locally a couple hours away, or they're moving down to Phoenix where things are a little bit more affordable. That was a big surprise. Number on it. Chicago, Illinois, The Windy City people want to get the heck out of that crazy city. Down to Kit Coral, Florida. That's up from 7100 to 7600. Next on the list was, as I talked about, Little Chowder, Boston, Massachusetts. They're moving to Portland, Maine. That's down from 6,100 to 5,000. Next on the list is a market that's been really kind of booming though. That's kind of surprised. This is Philadelphia, you know, where if you're born and raised in the playgrounds where you spent most of your days, that numbers increased from 1300 to 3000. People move getting the heck out of Philadelphia and they're moving down to Salisbury, Maryland. Similar with the folks from DC 9 of the list, Detroit Motor City people. And this was the big surprise. I don't know if it's got to do with politicians or what it is, but it, it decreased from 3, 400 people to 2100 people leaving Detroit. But where they move it to D.C. maybe it's politicians, I don't know what it is, but they're moving to the nation's capital when a lot of people.

Are getting the heck out of there.

Which is kind of surprising. But anyway, number 10 on the list was kind of surprised. That's Denver, Colorado, Tom. And where are they moving to? Surprise, surprise. Chicago, Illinois. So you've got some influx. Maybe looking at, maybe it's probably industries that may be moving their headquarters or things like that. But that was a very surprising, surprising thing. Okay, now if you look at, if you take a look at number one Sacramento list, where are they, where are they moving to Sacramento from? Well, San Francisco's number one on the list. LA's number two, New York, New York number three, Visalia, California is four. In San Diego is five. So it's obviously for the most part people moving to Sacramento for industry and stuff like that, for the most part. So I found this valuable. Like I said, I'll put the link in the actual chat roll for you.

Guys to take a look.

And not in the chat roll, but in the description so you can read it, watch it, maybe use the article for yourself when it comes to maybe sharing with your network and stuff like that. So especially if you're in one of those markets that was even mentioned, I mean, if you think about it, if.

You'Re in one of those areas where.

People are moving from, you may want to consider that. Or if you're living in there, where people moving to, may need, may need to take some time to take a look at where if you've owned real estate in the neck of the woods or if you've got any type of investments in those markets where people moving out of it maybe makes sense for you to look at maybe liquidating. Before it gets too crazy, I know some folks, some friends of mine that are like in Seattle area, stuff like that, they've been liquidating stuff out of Oregon and for a little bit to move or Washington state and Oregon state as well to to kind of get things to a better spot, a little bit more landlord lender friendly. So hopefully this is valuable for you. Top 10 markets where people are moving from or where they're moving to.

Check it out.

If you like the episode, feel free to comment in the comment section. As always, please feel free to leave us a five star review and subscribe to the podcast or the YouTube channel out there. Thank you for helping make us the number one podcast and the number one YouTube channel for note investors everywhere. So go out, take some action buddy and we'll see all the top. Bye Sam.