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Chris Harrington
  • Rental Property Investor
  • Boston, MA
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Texas or Washington - MFR Buy + Hold

Chris Harrington
  • Rental Property Investor
  • Boston, MA
Posted Nov 27 2019, 08:26

Hello,

I recently accepted a remote sales role and am planning to relocate out of Massachusetts to either Texas or Washington (based on a number of factors/analysis I did on the market, economy, taxes, etc). 

Given that I can work anywhere in the states, and being in a high-paying sales role, I'm planning to move to Texas or Washington to remove income taxes and begin building out a real-estate portfolio of Multi-Family Residential units. My goal is to buy and hold and build up a portfolio over the next 5 years. Ideally, $100/mo/unit in positive cash flow after all expenses. 

With that said, what state looks best in the Real Estate world? What areas within each state looks best at this point? I've been analyzing areas like Spokane and Tacoma WA, and areas like Dallas, Austin, Houston, and San Antonio. There seems to be pros and cons to each. I've been having a difficult time (at first glance) finding a lot of MFR's in WA, and Texas looks to have more options with cheaper property values. I'd rather not spend more than $300K on a first property just so I can get some experience under my belt.

Any recommendations?

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