El Paso's population did grow by 5%. However, El Paso's growth is mostly caused by a high birth rate and immigration from Mexico. El Paso, unlike, most Texas cities, has more people that leave the city than people who move into it. This is the infamous "brain-drain". Our best high school students go out of town for College, our best UTEP graduates leave town for work, etc.
Yes, I left because there were better job opportunities outside of El Paso for engineering. What's preventing El Paso from attracting more high-tech jobs?
Even the minimal jobs pay a lot more. I’ve seen job postings in the Austin area paying $18-20hr for yard workers. Yes people that cut grass and leaf blow stuff. Cashier jobs for $12-15hr. Even waitresses can expect to make more. I don’t know how many times I cringed in El Paso when I would see people leaving a $2 tip. While it’s not uncommon for people to leave $10-20+ tips over here. While I do think there is money to be made in El Paso the problem is employers are used to cheap labor and are not willing to fork over extra pay.
And Fort Bliss. Northeast grew because soldiers decided to stay and call El Paso home. My father is an example.
It's a lack of capital, which means rich people or big companies. Yes, we have Paul Foster, but other cities have a handful or more of those kind of guys. A lot of it was self-imposed with the city being behind the times in creating a business friendly environment, thus companies going elsewhere. Some of it is just how remote we are.
Will made a 3.5 million dollar signing bonus. One of the best things he could do at this stage is invest in a few properties and diversify the rest until he can he can make a better contract. If he never does (knock on wood) his 5 million plus guaranteed can go a loooong way if he is smart.
With his 1st signing bonus alone, he will take home about $2,050,000. His BEST investment option at his age is real estate (amongst other short term/5 year type investments he could make like CDs, etc.). He would also have more than enough to pay off any debt or loans and start a retirement account and invest on the market for the long term.
So you have limited him to only personal rental properties in NYC? Not sure what the concern is about upkeep or recouping property taxes. Do you know much about real estate investments or do you just maybe own a home in El Paso? Real estate is a proven commodity. Obviously there are possible pitfalls in real estate, but that depends on many variables (just like the stock market).
