Pro/con buying multi fam rental in Texas (out of state)

[Jayme Jahns]

Hey, just weighing more options.

Can I get a pro/con list for buying a multifamily home out if state for your first time rental? Specifically Texas, I live in Washington state and the cash flow here is abysmal. Lucky to get a CAP of 6.

In Texas, I've noticed a few quad and duplexes in the following cities 

Fort worth

Killian

Austin

Dallas

San Antonio

For my Texas pros, what is your read on these areas? Crime? Vacancies? Ec t. 

Also, is it very difficult to get approved for a loan that is for out of state rental? I already am pre approved for the loan in general. But haven't asked about approving out of state yet. 

Thank you all so much!! I'm still new to this but learning.

[Bart H.]

Originally posted by @Jayme Jahns:

Hey, just weighing more options.

Can I get a pro/con list for buying a multifamily home out if state for your first time rental? Specifically Texas, I live in Washington state and the cash flow here is abysmal. Lucky to get a CAP of 6.

In Texas, I've noticed a few quad and duplexes in the following cities 

Fort worth

Killian

Austin

Dallas

San Antonio

For my Texas pros, what is your read on these areas? Crime? Vacancies? Ec t. 

Also, is it very difficult to get approved for a loan that is for out of state rental? I already am pre approved for the loan in general. But haven't asked about approving out of state yet. 

Thank you all so much!! I'm still new to this but learning.

 I am unable to find duplex's in Dallas that give much if any return. I have looked at most of the ones that have come on the market, and sold one off of Live Oak and Skillman a little over a year ago.

There are a lot of people chasing very high valuations on duplex's.  If you can get a good price on one, then yes, I would pull the trigger because finding tenants has been easy.

Best of luck to you, let me know how it goes!!!