Inspector · Fort Lauderdale · Member since 2019 · 223 posts · 51 votes
6y
Thanks I really like this site, it gives a lot of legal rules that most people overlook when investing, I was using loop net to look at demographics and income for areas but I guess the best way is to take a drive in the neighborhood to really feel the area. One question, if you life in a different state, do you have to pay income tax in that particular state where you own the property? because some state have state income tax, here in Florida we do not. also how you test a property management, hit and miss? That could be expensive.
Los Angeles, CA · Member since 2019 · 512 posts · 301 votes
6y
@Reinaldo Lopez Nevada! It's the HOA's that are not so much. I believe Wyoming and Arizona are on the list but I'm in NV and I can confirm that we are landlord friendly(knock on wood as more non Nevadans come in)
San Jose, CA · Member since 2015 · 4k+ posts · 3k+ votes
6y
I suggest looking at the whole picture. Texas is really landlord-friendly, except for some cities, like Austin. But, you need to be wary of the property taxes there. It seems like there's a catch no matter where you look. California is very tenant-friendly, higher prices, but taxes are low and appreciation is usually nice. Other states have super low purchase prices, but may have insane property taxes, etc.
I like these calculators as a start for researching an area: