TX Taxes and Investing
@Amalia G. Your post in this thread"three mortgages left and 450k to spend"
" I actually have A few in Austin. And though I love Texas opportunity the property taxes are a killer ! I have been trying to stay out of it for that reason."
True you can't get around taxes, they have to be paid.
That being said, the total picture is far different from what appears in online property analysis. This is from an owner/seller that I am direct to
"First rule in Texas, nothing on the internet is correct about Texas. Texas is a non disclosure state. The only homes that show up on line are homes that are leased by real estate agents, of which the vast amount are not."
IMO, that is important for out of state investors looking at TX to know when looking at rent numbers versus expenses.
The county taxes are what they are.
But when you take an in depth look at the entire picture of TX markets, there is 1 prevailing constant versus MLS listings. Owner financing. Those rents, leases, etc., for the most part will not appear online Texas being a non disclosure state.
So insofar as gross rents versus expenses, the tax appearance may be preventing out of state cash investors from making low risk investments here.
The owner/seller I quoted has a portfolio with his asking prices. He has the final say so, and the quote stems from an out of state investor that contacted me wanting to purchase properties that seller has on the table. Seller is a native Texan that buys, rehabs, sells and leases his properties monthly for a number of years now.
He recently sold the DFW properties that appear in the spreadsheet, And I am waiting on the next package for sale in the DFW area.
The most current that I have can be seen here
https://www.dropbox.com/s/79owxn0ece4mljy/Texas%20...
or in the Resources tab here on BP in the file place under spreadsheets Texas Turnkey Properties etc. They are both downloadable.
The asking prices are owner/seller's asking price for the entire package or split packages. They are not wholesale prices have very little wiggle insofar as realtor's dictate online info about markets. MOM N POP's own more than the MLS lists inTX, and probably many other hot markets.
I have no problem with introducing you or any one to the owner.