Moving away from Dallas considering the high property tax
Hi all - New in investment world.Is it foolish to refrain from investing in Dallas considering high property tax.
Could someone please help me weigh the pros and cons of investing in Raleigh vs Dallas.I want to buy positive cash flow generating assets and am confused between these two cities.I am looking for long term implications of the investment in either city.
Raleigh:
Cons:
Less Tech space compared to Dallas
State income Tax(5%)
I dont stay in Raleigh.But can move eventually if that is required and beneficial
Pros:
Properties in some spaces are still affordable.
Chances for appreciation considering Apple and Facebook coming to RTP.
Less property tax(1%) compared to Dallas(2.3%)
Dallas:
Cons:
High property tax
Highly inflated costs in Irving and places near to downtown.These are the places suitable for cash flow.Would appreciate any inputs on places good for rentals.
Pros:
No state income tax
My job is present in Dallas now.I can move to raleigh if that is more profitable.