Newbie From Bend, OR
Hi!
My name is Giovanna and I live in Bend, OR with my husband, Cody, and our 7 year old. We are interested in buying our first rental property (single family home) in October or November. We are strongly considering San Antonio, TX because:
- Job growth of 2.21%. Future job growth over the next ten years is predicted to be 40.10%.
- Sales tax rate is 8.25%. Income tax is 0.00%. If we decide to move there someday, we will instantly save 10% in state income tax.
- The local economy is stable and growing.
- We can buy a 2/1 or 3/2 and do minor rehab for $70,000 or less (all cash) and collect $900/month in rent. That's not possible in Bend, we would have to use financing.
- It a landlord friendly area.
- We would like to move there someday, but for right now, we will be in the area about twice a year and can check on the properties when we are visiting.
- It will force us to take a more hands-off approach to managing the property, which I have heard is a good habit to get into.
Our reservations are
- It's far from where we live.
- It will be difficult to get to know the area and make a good decision.
- If we need to make an unplanned trip to take care of our property, it will be expensive.