My husband and I are relocating with the military early next summer, but have to decide on the right area very soon. We are between Houston, TX, Jacksonville, FL and Cape Canaveral, FL. We are trying to house hack our first investment with either a duplex, triplex or fourplex, so we are trying to make a good decision on where to choose. Any thoughts or recommendations on what to look for in these areas would be greatly appreciated!
Realtor · Houston, TX · Member since 2017 · 177 posts · 68 votes
6y
Hi Chloe, if you check U-Haul's website, Houston is at the top of the list of one-way rentals! That means we are booming here in Houston! Although I'm a Realtor, I haven't had to market my rentals at all, people come to me! Closings are really dragging out because lenders are blaming Covid for dragging their feet, and title companies can't seem to keep up with the demand. Let me know if there's anything I can help you with here!
Homeowner · CT · Member since 2020 · 34 posts · 23 votes
6y
I've heard good things about all three markets. For me, it's a choice between Houston and Jacksonville. I've heard property taxes in Houston have been rising due to frequent town assessments. In Jacksonville, there is the potential for flood and wind insurance being needed depending on the area which are additional expenses to consider that may impact cash flow.
There is great jobs and population growth in both markets and the expectation that home prices will continue to rise at an above average rate. Out of those two markets I would go with Jacksonville, but it's a tight race. Hopefully, some investors from those markets can way in with more area specific considerations.
Realtor · Houston, TX · Member since 2017 · 177 posts · 68 votes
6y
Hi Chloe, if you check U-Haul's website, Houston is at the top of the list of one-way rentals! That means we are booming here in Houston! Although I'm a Realtor, I haven't had to market my rentals at all, people come to me! Closings are really dragging out because lenders are blaming Covid for dragging their feet, and title companies can't seem to keep up with the demand. Let me know if there's anything I can help you with here!