BiggerPockets

Hey Rich,
You missed a close ] after url, but no biggie, we can copy & paste :D

I would love to start branching out to other areas, I just don't think I have the necessary capital (and time) to make it happen right now. It is a shame since I'm sure this is a very awesome opportunity... I've been tempted by Florida, since it is a lot close (cheaper airfare) and we have a few connections in Port Richy.

Just out of curiosity, what do you think of the Bahamas? Do you do any investing there?

Cheers!
Mark

Mark- I'll never figure out this computer stuff! I don't know about the Bahamas much for investment. Cancun is my hangout(condos there) and Bermuda is my "tax haven".

Tod- You think? I've been averaging 98-99% full on my 154 and am 100% full on all sfrs in Tx, 40-50. I keep inviting people to try TX. I'm not keeping a secret for sure. Rich

Thanks Rich,
My parents are using ELU (eleuthera) in the Bahamas as their "tax haven" / Retirement abode. We've been down a few times, and have fallen in love with the island.

So when moving to a new area to invest, you spend a lot of time there first? Interview a lot of property management companies etc? If you're living in FL, how often do you need to go to TX to deal with closings, issues etc? Just trying to get a handle on how hard it is to manage property from the opposite side of the US.

Thanks again!
Mark

I agree Rich, bought 2 more SFR's in Texas last month. I now have property in Fort Worth, Arlington and Crowley. Will have to check out S. Texas soon.

Everything I own is in Texas and the bulk of it is in Central Texas. Things are going to mega blow up in the Austin area whenever we come out of this depression. We are getting a new Indy track and have new employers move here form The People's Republic of Kalifornia every month. Schlitterbahn is also building a $250M+ project about a mile from where I live in Round Rock. That should be good for our property value and very bad for traffic :-?

Williamson County is projected to have more residents than Travis County in the next 10-15 years! That is a mega stupid statistic.

I like DFW, San Antonio, and Houston too. South Texas seems like a place for someone else to make money to me. I hope you do well there Rich. Central Texas has a lot more going for it IMO, but I am sure there is a lot of money to be made anywhere taxes are low and government is kept to a bare minimum.

Houston's market has hardly skipped a beat - I highly suggest all you out of towners to check out Houston, Austin, San Antonio and Corpus Christi.

Texas cities always seem to show up in best of lists on yahoo, makes me proud :)

An interesting website is texaplex com. It makes a pretty solid case for the DFW, Austin, Houston markets.

Bryan
I am not sure about your statement about 'low taxes.' Texas has the highest property tax rate of any western state. It takes three months rent just to pay the property tax on my rentals there whereas my California, Arizona, Oklahoma and Colorado rentals take one months rent to pay the property taxes. Maybe that is because TEXAS is just TAXES with the A and E switched!! :lol:

Property taxes are high here, but we have NO state income tax. Just as is the case with anything rents adjust to make up for the difference. This taxation policy keeps us having a steady appreciation rate instead of wild wild west style appreciation and depreciation like other states.

The laws are also very investor friendly here. I can foreclose on someone 21 days after the NOD rather than two eons like it takes on the west coast. People know this and will generally sign a DIL, which shortens the process even more.

I really do appreciate the "Texas Grey" watermelon. It seems to be the best watermelon with the "Sound" watermelon from NC being the second best. The only melons you can seem to find are ones grown and imported from a foreign country now. Should any of the investors in Texas have a supply source for getting seeds for the Texas Grey watermelon - I would greatly appreciate the contact info! Internet searches have came up empty or I have been doing something wrong!

I will have to apollogize for going off track with your post. However, once Texas was mentioned the mind turned to the best watermelon ever and I just had to ask for seeds! Please forgive my indiscretion and continue your discussions on the right path! Thanks!