Looking at NC, specifically the Raleigh-Durham-Greensboro triangle. Each city is trying to bill themselves as the next Bay Area and it’s sort working… they have lots of grants for startups and therefor lots of startups are moving to NC. Google & Redhat is already there, Apple bought ~120acre and are building 3 large offices already and intent to flesh it out to be a large Apple Campus, probably completing ~5-10 years from now. IMO they really only need to attract 2-3 more big players to pair with their dozens of medium sized “start ups” to be considered a proper tech hub, and so far, they’ve convinced me that’s just a matter of time. Real estate is dirt cheap out there. Most of you could afford 20-100 acres out there within 30-45 minutes of 1 or 2 of the cities. Being inside the triangle is ideal but their more of a line than a triangle, with Raleigh in the middle. In my wildest dreams i wouldn’t expect it to get anywhere near bay area pricing but I do thing 10-20 years it could approach (inflation adjusted) similar pricing as Redmond, Houston, etc. The plan 1. But 50 acres today 2. Work remote, making less than optimal but also dirt cheap COL 3. As the tech market grows, stop working remote. Work at the new big players 4. Land gets expensive AF and city starts approving development 5. Sell my 50 acres to turn into a suburb for 10x what I paid for My evaluation is (estate index adjusted) 1% chance actually sell for 10x 19% chance sell for 5x 40% chance sell for 2-5x 35% chance sell for 1-2x 5% chance sell for <1x Thoughts?
How much is 50 acres today near triangle area ?.
Depends on specifics. With no bulding $300k-$600k depending on how developable it is, water features, etc.
The city is too small to attract more to become a hub unless local companies grow big. Take for example, Seattle became the second tech hubs because Amazon and Microsoft grew exponentially. It is also home to Boeing, Nordstrom, Costco and Starbucks. It also has a bunch of game studios and companies not to mention Nintendo America is there. Seattle became a center of cloud computing so Google and Oracle built cloud division there. It is also a hub to virtual reality so Meta built several buildings. The triangle area should have at least one big company HQ to grow. Austin already has big hardware companies.
The key is buying SFH within the triangle. Much safer that way. Big Tech will spread out to cap costs by moving more back office work to this area. It is the next Austin and people will wonder how they missed it.
Tesla, did you make an investment there in sfh ?. If yes, what is the price range and rental you are seeing