In this podcast, Jake and Gino discuss the key demographic trends, especially the noticeable migration to the states such as Florida, Texas and Tennessee. Why are they discussing these trends. Clearly because these are the trends that impact the Real Estate market quite significantly.
Here are some of the key reasons why people are migrating.
Challenging Political Climate and Values Misalignment
– Gino felt that New York’s leaders were willing to accept his conservative dollars but did not uphold the values he believed in.
– The incident highlighted the importance of aligning with the values of the place one calls home, and it was a significant factor in Gino’s decision to leave New York.
Harsh Weather and Declining Quality of Life
– Gino recalls a particularly cold winter in 2014, where the weather was unbearable, and he had to deal with freezing pipes and other inconveniences.
– The cost of living in New York, including property taxes and the cost of college education, was increasing dramatically, making it challenging for Gino to envision a prosperous future for his family.
– These factors, combined with the diminishing quality of life and the financial burden, contributed to Gino’s desire for a change and a better environment for his children’s future.
Overcoming Fear and Preparing for the Move
– Gino acknowledges that fear of the unknown and unpreparedness were significant obstacles in making the move.
– He gradually prepared himself by diversifying his sources of income, selling his restaurant, and searching for properties in Florida.
– Gino encourages listeners to challenge themselves and consider making a change if they are facing similar pains and dissatisfactions, emphasizing the need for a preparation period before taking the leap.
Let us know your thoughts on this subject and share your comments with us.
We’re here to help create multifamily entrepreneurs… Here’s how:
Want To Get Into Multifamily Real Estate Or Scale Your Current Portfolio Faster?
Apply to join our PREMIER MULTIFAMILY INVESTING COMMUNITY & MENTORSHIP PROGRAM.
(*Note: Our community is not for beginner investors) https://jakeandgino.com/apply
Jake & Gino are multifamily investors, operators, and mentors who have created a vertically integrated real estate company. They control over $250M in assets under management. They have created the Jake & Gino Premier Multifamily Community to teach others a simple three-step framework for investing in multifamily real estate.
Connect with Jake & Gino on the social media platform you are most active on: https://jakeandgino.com/link-tree/