Texas vs Florida for 10 door investment.
Thank you for opening my post.
I'm about to start looking into my first multifamily (10 doors).
Now picking a metro area.
A big decission, because if all good I'd be likely to get the next property in the same location. Really hard. However, after considering the metrics and local relationships my research points me to 2.1 options:
1. Tampa, Fl
2. Huston, TX
2.1 (a back up) Charlotte, NC
All apparently show a good job and population and income growth. With pockets of mildly affordable areas.
However, now I am at the impasse, witch one to pick.
Witch state is more investor-friendly (taxes, lows, insurance)?
If you were buying your first multifamily, with one out of these 2.1 would you pick?
Dennis
Most Popular Reply
@Dennis Nikolaev
I second @Greg Dickerson. While I can't speak to the other states, I've found several what on the surface look like great cash flowing deals in Texas. Unfortunately when you factor in the incredibly high property tax, many of the deals I've looked at stop making sense. The last deal I analyzed looked great! Until I realized property tax aloneadded an extra 1000+/mo to my monthly expenses. Way more than I'd pay if I invested in the same size/style multifamily in North Carolina. I've never even looked in Florida for investing, so I have no insight there. Good luck!