Looking to relocate to Texas or Florida
Real Estate Investor · Nyc, NY · Member since 2009 · 27 posts · 6 votes
Looking to relocate to Texas or Florida
Most Popular Reply
Anthony, I think it depends on your strategy. Which way do you want to make your money out of? I can think of at least 3 strategies:
- BRRRR (in short, Buy-and-Hold) to gain cash flow & equity
- Wholesale
- Flip
Also, do you want mainly cash flow or build up equity (i.e. wealth)? You may want to say a bit more before you get the most matching advice.
Nonetheless, I'd like to give you some data and stats for Texas & Florida for your reference.
There are a couple of authoritative research white papers on best-performing cities for your reference:
In brief, 4 major metros in Texas (DFW, Houston, Austin, San Antonio) and several metros in Florida (Cape Coral - Fort Myers, Miami, Tampa) may be worthy of investment.
I lived in Austin for 5 years and is obtaining a SFH which I'll delegate to a property management company to run a rental. I perceived that Round Rock & Austin & San Marcos & San Antonio are becoming a large metro area, which may be comparable to Houston or DFW metro areas. In average, about 200 people per day move into Dallas/Forth Worth area, while about 100 people per day move into Austin metro area.
If you feel my posting is of any help, please feel free to PM or discuss with me more. Also, your "vote" is also greatly appreciated. Thanks!
39 Replies
- Rental Property Investor · East Bernard, TX · Member since 2016 · 19 posts · 9 votes9y
Houston should be your top pick in Texas.
- Real Estate Investor · Nyc, NY · Member since 2009 · 27 posts · 6 votes9y
Thank you Amy!!! Is it there that big of a difference? I did notice the Houston sub forum is more active than the Dallas one
Originally posted by @Anthony Vanson:
Hello, Im looking to relocate and have narrowed down options to Florida and Texas. I have a business which permits me to live anywhere and I have no wife or children, so this would not be a difficult move. I'm currently in NYC but the market here is too expensive for me to get started
I'm thinking the two best options in Texas are Houston and Dallas. Could a few of you list their respective pros and cons? I'm looking at all types of investments; House hacking, SFR and MFR
Thank you in advance
I think you will find Houston to be a little more cyclical with the ups and downs of the oil & Gas industry than the rest of the large Texas metro areas like Austin, DFW, El Paso.
Texas will have high property taxes, reasonably high sales taxes. I think Dallas or at least the surrounding area is maybe the biggest growth area. (possibly El Paso) in Texas.
- Real Estate Investor · Nyc, NY · Member since 2009 · 27 posts · 6 votes9y
Originally posted by @Bart H.:Originally posted by @Anthony Vanson:
Hello, Im looking to relocate and have narrowed down options to Florida and Texas. I have a business which permits me to live anywhere and I have no wife or children, so this would not be a difficult move. I'm currently in NYC but the market here is too expensive for me to get started
I'm thinking the two best options in Texas are Houston and Dallas. Could a few of you list their respective pros and cons? I'm looking at all types of investments; House hacking, SFR and MFR
Thank you in advance
I think you will find Houston to be a little more cyclical with the ups and downs of the oil & Gas industry than the rest of the large Texas metro areas like Austin, DFW, El Paso.
Texas will have high property taxes, reasonably high sales taxes. I think Dallas or at least the surrounding area is maybe the biggest growth area. (possibly El Paso) in Texas.
Thank you. Is Dallas a bit more affordable than Houston? I think ideally my first investment would be a duplex or quadplex
- Investor · Great Neck, NY · Member since 2016 · 679 posts · 467 votes9y
I'm just curious are you moving strictly due to wanting to be by some possible investments or for other reasons? Reason I ask is because I too live in New York and could not at the time buy near by. I ended up investing out of state but remained here.
Originally posted by @Anthony Vanson:
Originally posted by @Bart H.:
Originally posted by @Anthony Vanson:
Hello, Im looking to relocate and have narrowed down options to Florida and Texas. I have a business which permits me to live anywhere and I have no wife or children, so this would not be a difficult move. I'm currently in NYC but the market here is too expensive for me to get started
I'm thinking the two best options in Texas are Houston and Dallas. Could a few of you list their respective pros and cons? I'm looking at all types of investments; House hacking, SFR and MFR
Thank you in advance
I think you will find Houston to be a little more cyclical with the ups and downs of the oil & Gas industry than the rest of the large Texas metro areas like Austin, DFW, El Paso.
Texas will have high property taxes, reasonably high sales taxes. I think Dallas or at least the surrounding area is maybe the biggest growth area. (possibly El Paso) in Texas.
Thank you. Is Dallas a bit more affordable than Houston? I think ideally my first investment would be a duplex or quadplex
I don't know. Historically they have been somewhat close in price. But I really don't know the Houston real estate market.
Dallas historically hasn't had the ups and downs of the coasts since the S&L crisis, but the last couple of years prices have gone way up.
Honestly, I think at some point most places have a vibrant market, especially Florida and Texas, and over the long term they will go up in value and I think you can do well in most markets.
Outside of large themes, I just think its tough to pick one market to move to solely on the price of their real estate. If I lived in Florida, I would sell my properties here and buy there, if I moved to Houston or San Antonio I would do the same.
I think we will look to divest out of our rentals over time within the city limits of Dallas, but we will continue to invest in the metro area.
Over the long term I feel like most metro areas with long term diversified and healthy economies are great places to invest.
- Real Estate Investor · Nyc, NY · Member since 2009 · 27 posts · 6 votes9y
@Steve Kontos pretty much strictly for investments. I do like to travel as well, but main reason is for investment. I want to acquire many many investments over the next 5 years, and not sure Id be comfortable being so far from investments. I also want to network. I grew up on LI btw in Garden City. Too expensive on the Island
- Real Estate Investor · Nyc, NY · Member since 2009 · 27 posts · 6 votes9y
Originally posted by @Bart H.:
Originally posted by @Anthony Vanson:
Originally posted by @Bart H.:Originally posted by @Anthony Vanson:
Hello, Im looking to relocate and have narrowed down options to Florida and Texas. I have a business which permits me to live anywhere and I have no wife or children, so this would not be a difficult move. I'm currently in NYC but the market here is too expensive for me to get started
I'm thinking the two best options in Texas are Houston and Dallas. Could a few of you list their respective pros and cons? I'm looking at all types of investments; House hacking, SFR and MFR
Thank you in advance
I think you will find Houston to be a little more cyclical with the ups and downs of the oil & Gas industry than the rest of the large Texas metro areas like Austin, DFW, El Paso.
Texas will have high property taxes, reasonably high sales taxes. I think Dallas or at least the surrounding area is maybe the biggest growth area. (possibly El Paso) in Texas.
Thank you. Is Dallas a bit more affordable than Houston? I think ideally my first investment would be a duplex or quadplex
I don't know. Historically they have been somewhat close in price. But I really don't know the Houston real estate market.
Dallas historically hasn't had the ups and downs of the coasts since the S&L crisis, but the last couple of years prices have gone way up.
Honestly, I think at some point most places have a vibrant market, especially Florida and Texas, and over the long term they will go up in value and I think you can do well in most markets.
Outside of large themes, I just think its tough to pick one market to move to solely on the price of their real estate. If I lived in Florida, I would sell my properties here and buy there, if I moved to Houston or San Antonio I would do the same.
I think we will look to divest out of our rentals over time within the city limits of Dallas, but we will continue to invest in the metro area.
Over the long term I feel like most metro areas with long term diversified and healthy economies are great places to invest.
I'm intrigued a bit by El Paso. Never had that in my mind until you mentioned it. Having a network and meeting new people is important to me. I'm thinking that would be easier in Dallas and Houston
- 9yRonald RohdePro MemberAttorney · Dallas, TX · Member since 2016 · 5k+ posts · 2k+ votes
I'd vote for Dallas. Driving and traffic in Houston is terrible.
- 9yJordan MoorheadBusiness MemberReal Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votesAnthony Vanson go to Austin. You'll prob not love Florida if you're from NYC.
The Moorhead Team5140 Reviews - Real Estate Investor · Nyc, NY · Member since 2009 · 27 posts · 6 votes9y
Originally posted by @Jordan Moorhead:
Anthony Vanson go to Austin. You'll prob not love Florida if you're from NYC.
The most important things for me are the investments. I think I'd like Austin as a city, but I wanna be where I can make the most money. Not sure Austin is that place.
- 9yJordan MoorheadBusiness MemberReal Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votesAnthony Vanson I would go Houston or San Antonio then man. Seems as if the most growth is in San Antonio and the prices are still decent. Dallas is good too. Big fan of Texas.The Moorhead Team5140 Reviews
- 9yColleen F.Pro MemberInvestor · Narragansett, RI · Member since 2013 · 8k+ posts · 4k+ votes
See real estate taxes for state comparison.
https://wallethub.com/edu/states-with-the-highest-...
Compared to NY you may not find Texas taxes high. Really though it is about relationships too so when you narrow it down you might connect with people in your top choices and see where you feel like you will make the best business relationships.
- Rental Property Investor · East Bernard, TX · Member since 2016 · 19 posts · 9 votes9y
I'm only basing this on what I've read in RE forums, heard at real estate events with knowledgable speakers in Houston, what I see around me in general, etc. It seems Dallas has become the new hot spot for investing, so much so that it's now becoming saturated with investors looking for great deals. There's still good deals, but you'll have competition. My dad networks with multifamily investors, and he says there's growth from San Antonio to Austin, especially along Interstate 35, around San Marcos, etc. He invests south of San Antonio and is doing good with his complex there. I agree Houston traffic is horrendous. We live southwest of Houston, so I'm used to it. ;) The growth in Fort Bend County has caused a lot of traffic headaches, but people are putting up with it since road construction won't last forever. They're trying to expand Highway 59 southwest of Sugar Land to accommodate more drivers in the Rosenberg/Richmond area, where more people have migrated to due to Sugar Land becoming more saturated and expensive. Katy/Fulshear in west Fort Bend County is another area with tons of construction going on to accommodate growth.
Hope this helps.
I lived in a Austin for 8 years before I moved to Brooklyn. Great town with so much to do. Probably not a great city for what you want to do with re investments. For people entering the market now the returns on buy and hold aren't great. There's probably some opportunity in the surrounding areas of Austin. I think you're on the right track with Dallas and Houston.
As others have mentioned, Texas is notorious for foundation issues due to soil conditions and high property taxes which can be mitigated by knowing what you're doing and being close by. Good luck. Texas is an awesome state.
Anthony, I think it depends on your strategy. Which way do you want to make your money out of? I can think of at least 3 strategies:
- BRRRR (in short, Buy-and-Hold) to gain cash flow & equity
- Wholesale
- Flip
Also, do you want mainly cash flow or build up equity (i.e. wealth)? You may want to say a bit more before you get the most matching advice.
Nonetheless, I'd like to give you some data and stats for Texas & Florida for your reference.
There are a couple of authoritative research white papers on best-performing cities for your reference:
In brief, 4 major metros in Texas (DFW, Houston, Austin, San Antonio) and several metros in Florida (Cape Coral - Fort Myers, Miami, Tampa) may be worthy of investment.
I lived in Austin for 5 years and is obtaining a SFH which I'll delegate to a property management company to run a rental. I perceived that Round Rock & Austin & San Marcos & San Antonio are becoming a large metro area, which may be comparable to Houston or DFW metro areas. In average, about 200 people per day move into Dallas/Forth Worth area, while about 100 people per day move into Austin metro area.
If you feel my posting is of any help, please feel free to PM or discuss with me more. Also, your "vote" is also greatly appreciated. Thanks!
- El Paso, TX · Member since 2015 · 34 posts · 13 votes9y
Hi @Anthony Vanson , Thanks for picking the Lone Star State!! I have been living in El Paso for the last 15 years, and investing the last 10 years. Probably I can help you to find some specific information from El Paso!!
- Real Estate Investor · Miami, FL · Member since 2013 · 474 posts · 214 votes9y
Of the major metros (4 largest in each state) I would consider Dallas, Houston, San Antonio, Jacksonville, Tampa and Orlando. I think you can be relatively confident about finding good investments in those markets. As an outsider however, I do believe Dallas and Houston have heated up so much that I'd be a little bit wary. All-in-all I would focus on what you want in a city (similarities/differences to NYC) and also COL. Jacksonville would win the latter category, while Houston and Dallas would offer the most big city amenities, imo. Good luck!
- Real Estate Investor · Nyc, NY · Member since 2009 · 27 posts · 6 votes9y
Originally posted by @Jeremy C.:
Anthony, I think it depends on your strategy. Which way do you want to make your money out of? I can think of at least 3 strategies:
- BRRRR (in short, Buy-and-Hold) to gain cash flow & equity
- Wholesale
- Flip
Also, do you want mainly cash flow or build up equity (i.e. wealth)? You may want to say a bit more before you get the most matching advice.
Nonetheless, I'd like to give you some data and stats for Texas & Florida for your reference.
There are a couple of authoritative research white papers on best-performing cities for your reference:
In brief, 4 major metros in Texas (DFW, Houston, Austin, San Antonio) and several metros in Florida (Cape Coral - Fort Myers, Miami, Tampa) may be worthy of investment.
I lived in Austin for 5 years and is obtaining a SFH which I'll delegate to a property management company to run a rental. I perceived that Round Rock & Austin & San Marcos & San Antonio are becoming a large metro area, which may be comparable to Houston or DFW metro areas. In average, about 200 people per day move into Dallas/Forth Worth area, while about 100 people per day move into Austin metro area.
If you feel my posting is of any help, please feel free to PM or discuss with me more. Also, your "vote" is also greatly appreciated. Thanks!
Thank you for the information. I'm looking long term to build up a lot of equity as my cash flow is pretty good right now.. I think maybe the first few deals though I'd like something that cash flows so I can gain some experience and get my confidence going
- Investor · Cypress, TX · Member since 2016 · 170 posts · 139 votes9y
Brookings Institute rated Houston #2 for economic development (San Jose was #1) over the last 10 years. Despite hemorrhaging >80,000 oil and gas jobs in the last 2 years Houston employment rates are the highest in history at the end of 2016. Oil and Gas are now hiring back. The Greater Houston area will pass 7 million people this year. Current real estate is still a strong sellers market as there is less than 3.5 months of inventory available in single family homes (6 months inventory considered balanced inventory). Texas economy is one of the best in the country and the Houston economy is one of the best in Texas. Houston surpassed NYC as the most racially diverse city in the country in 2016. We are growing our population and our economy (jobs) in an amazing way. Harris County ended an 8 year run last year as the fastest growing (population) and still ended up #2 in the country. There are really good reasons so many companies and people are moving here. Jobs, jobs jobs
Housing prices well below national averages. 4 th largest city in the country and your money buys more house here than in any of the other 4. Great investment market (REI) because of low cost of entry and rent/ownership ratio is strong.
We have the largest medical center in the entire world with the leading cancer center that is a destination facility people come from all over to visit.
Oh and I almost forgot, buy a place on the new Grand Parkway (Texas Route 99) because it is a game changing new toll road that is linking all the burbs like never before.
Or you could do Florida I guess ;-)
- Investor · Mission, TX · Member since 2017 · 220 posts · 135 votes9yIf you want to buy and hold- you should consider the Rio Grande Valley. For example, I just bought a 4plex at a 10% cap rate and 77% COC. It's a great rental market because not many people can afford dps or have good enough credit to get loans.
- Investor · Cypress, TX · Member since 2016 · 170 posts · 139 votes9y
#andrew
I like the Rio Grande Valley area too. What are your property management options like there?
- Investor · Mission, TX · Member since 2017 · 220 posts · 135 votes9yBrian Foster I don't use property management currently nor have I really explored options at this stage.
- Investor · Leander, TX · Member since 2016 · 299 posts · 402 votes9y
Give San Antonio a look.
Why Invest in San Antonio, TX
The city of San Antonio is in Bexar County – the third largest county in Texas. Business Facilities magazine recognized San Antonio as one of the five major logistical locations in the country for warehousing and distribution and is widely considered the gateway of foreign trade. Thanks to its proximity to Mexico, San Antonio,s economy has benefited the North American Free Trade Agreement (NAFTA). More than half the goods moving to and from Mexico go through San Antonio and all signs point to a further expansion of this trade. Shoppers from Mexico make up 30% of the city’s retail market purchases. The U.S. military base realignment, the growth of healthcare and drilling in the Eagle Ford Shale have all played a part in city’s economic boom.
General Facts- 2nd largest city Texas and 7th largest city in the U.S. (Wikipedia, 2014) San Antonio City Flag
- One of America’s 20 Fastest-Growing Cities (Forbes, Feb. 2014)
- #3 in Job Growth potential (Bloomberg Businessweek)
- Nation’s second fastest growing major city (U.S. Census Bureau)
- #12 nation’s best-performing city (Milken Institute, 2013)
- The city is visited by more than 28 million tourists per year (City-Data.com)
- Home to 5 of Fortune 500 companies: Valero Energy, Tesoro Petroleum Corp, USAA, NuStar Energy and CC Media Holdings (CNN)
- #3 on Forbes’ Where to Invest In Housing In 2016 (Forbes)
- Real Estate Agent/Property Management · Houston, TX · Member since 2014 · 1k+ posts · 827 votes9y
Between Houston and Dallas, flip a coin. Both are almost identical when it comes to growth, although Houston is subject to more ups and downs because of the oil industry. But prices in both metros have long since passed the crazy point.
I would suggest looking into San Antonio. It is also experiencing high growth, but I hear the prices there are still manageable.
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