Hey, guys. I've been doing a lot of reading up on, and researching out of state investing in Hawaii(where the market is really strong) and I actually have a lot of good people that I know and trust out over in the Dallas Fort Worth area, and I hear the housing in Texas is much more reasonable over there. Does anybody have any experience with real estate in this area? I would love to hear your opinions, and hear about your experiences. If so, is there any agents that you would recommend when looking for real estate out there? Thank you for taking the time for reading my post. I look forward to having many discussions with everyone.
Just watch out for property taxes. They’ll eat your cash flow alive
@Caleb Heimsoth Thanks for tip, Caleb. I will most definitely look out for those taxes.
If you are looking for cash flow and investing out of state anyway you will be much better off looking somewhere else. Unless you want to rent a $250,000 for $1700/month.
@Account Closed Whats the market like in these areas? What do you think market over in those areas are best for?
In Today’s market conditions Texas is good for 2 things. Mobile home park investing & niches in smaller cities & secondary markets. I invest for cash flow in Oklahoma, Kansas & Florida.
It's a sellers market that is primarily a great investment for gambling on appreciation. You might be buying bitcoin in 2015 and you might be buying bitcoin in December 2017.
You can find buy and holds or flips, but it just seems like you will be working 10 times harder than if you look in an up and coming market like Oklahoma, Ohio, etc.
Don't worry, there are still plenty of us here that are willing to let you overpay for our properties. We will just move to the neighborhood 5 minutes away that hasn't been pumped up yet.
I see what you are saying. however what do you mean overpay for properties? Sorry I'm a little unclear on that last part.
As an example, I bought my previous house in 2010 for $135,000, I sold it for $215,000. At the time I could have rented it for $1,700 at the top end. That house would now sell for $240,000 and it would still rent for $1,700. When you factor in taxes, maintenance, etc. you will be operating at a loss. So you can hope to sell the house for $300,000 one day, but the economy/geography here doesn't seem to support that pricing level.
My story isn't unique. Quite a few of my friends sold their houses for similar gains and moved 10 minutes away into a bigger house in a different neighborhood that was a lot cheaper. By the time people at my level hear about the "hot new area" all of the professionals have scooped up the great deals.
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