Real Estate Investor · Nyc, NY · Member since 2009 · 27 posts · 6 votes
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
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!
A bit off topic, but since everyone in this subforum is so helpful, I thought I'd ask here
I'm not a huge fan of overthinking things as it can lead to inaction, but for someone that wants to really start investing in SFR and MFR, are there a few books members would recommend? Specifically, books specializing in cash flow and others on equity. There's a lot of information on here, but it's a bit to much to condense. Thanks again everyone
Final reason I like Houston. Astro's moved over to the AL a few years ago and I get to see my Sawx (Rhody roots) at least once a year in Minute Maid now. If you are a Yankee fan, you're in luck, Met's not so much...
thank you for the replies:) I've narrowed it down to Houston or San Antonio, though Dallas is still a possibility. I think I'll like Texas more than Florida and think I'll make more money in Texas
@Anthony Vanson welcome to Texas (soon). You can make it work just about anywhere here. Make sure you can live in the area YOU want to be in. Invest there and/or elsewhere around. If you like plenty of trees a bit north of Houston. If you like hill country between San Antonio and Austin. Dallas is more plains type but some trees and some hills. Just take a drive and see for yourself one day. If you make through Nacogdoches pm me and we'll do lunch.
Big fan of Houston multifamily. Though it's getting harder and harder to find deals out there. Not talking about way below market deals -- I'm talking about large properties for sale at all.
I would say Austin. Austin is one of the fastest growing cities in the nation and we have an amazing housing market. My group works specifically with investors. What types of properties are you looking for?
@Anthony Vanson I have only been to Texas a few times but i did get to Dallas , Houston , and Austin .. I liked Austin the most .. I live in Florida now and by accident I happen to love were i am located .. Im in a little Town called Bushnell which is in Sumter County .. the same county The Villages is located in .. and the reason i love it is I live in the county ( kind of ) I have almost 2 acres ( but there are a lit if bugger parcels here ) and I am only 45-60 min from Tampa, Orlando and a bit longer to Lakeland and Daytona ( about 1hr 15 min ) , I can get to Ocala in just under 35-40 mins and all the towns surrounding these bigger citys are just getting better investment wise everyday .. like Inverness .. its only 15 miles from me and there are a lit of 3/2 homes still priced at around $50k-$75k and need a additional $12-20k worth of rehab but thats to flip them .. to rent them most only need $5-12k and the rents inventory is very low right now .. the normal 3/2 rents for $1000-1200 depending on sqft .. for the most part rents are anywere from $650-1700 depending on size and bedrooms .. but I hear from a really reliable source that the city is looking to add 2 new big manufacturing plants, can't say who but, they are supposed to start by the end of 2017 . These will bring apox 3500 new good paying jobs to the area. On top of that the pipe line is already on it way through and that has brought new jobs as well .. I also have noticed a new trend that a lot if people that work in Tampa or St pete are moving out this way because the home prices are still only about half of what they were at the top of the market before the bust .. I know i am looking into my first buy and holds there .. I just looked at a 2/1/1 that needed about $15-20k for flip and $12k for rent .. the asking price is $29,900 and the rent should be around $750-825 or if someone put the $20 into rehab than rent should be around $850-950 for a 2 bed nice remodeled just under 1000sqft .. it was in a community that had a pool and clubhouse .. I did not check to see what association cost were but , i dont think they are to much .. on my way home i saw activity at a house i have been watching right down the road from me so, I stopped in and met the absentee owner .. I convinced him to sell and got him under contract for $35k .. the house is a 2500sqft 4/2/2 on 1.3 acres and arv is around $180-210k .. looks like it will need about $45-55k worth of rehab .. its got a weird layout and the bathrooms are real small but, it has the sqft and no load bearing walls .. it can also have the porch between the garage and house enclosed to add about another 250 sqft ..I'm hoping to close on it before may .. so these are just some examples .. another great investment and high returns if you do them correctly are Mobile home parks .. you can set them up to have year round and seasonal rentals .. which the seasonal rentals pay a lot more rent during those months .. the villages is expanding into Inverness as well.. they bought a huge amount of land that way .. almost 7 miles worth .. Anyway .. i hope you make the right decision for yourself and if you decide Florida is the place to be then I hope to meet up with you .. If not I still wish you the very best ..
@Account Closed I'm always up for meeting new people. I'm not sure about that area but I'm open minded
To acquire real wealth, equity is going to be more important than cash flow, and I think Dallas/Houston/San Antonio etc are all superior in this category
it depends on the area .. right now Jacksonville, Fl. is seeing great appreciation numbers .. and everone seems excited about it .. me on the other hand try to look at more than just Appreciation ..I try to look at the projected new growth in the area .. new jobs .. what do they pay .. People have been been coming to Fl for years to retire and we are on the verge of havng what is considered the last of the baby boom gen retiring .. so I forsee a huge amount of people comming here soon the retire .. of course its not the onoy place people retire to .. Houston , Dallas and Austin are getting more popular .. along with San Antonio.. I guess you have to decide what is your mind and heart telling you .. If I knew Texas a bit better I might change my mind to the opinion that Fl is a better place to invest.. another thing that Im not sure of ..Does Texas have a state income tax? Florida does not .. and if something happends beyond all expectations .. and say someone is sueing you and wins .. they can not take your personal home here in Fl.. thats why OJ moved here ..lol.. I think really they might be neck and neck .. I know i have a few very good friends that oive Texas and live there ..One lives in Houston and another lives in Austin but she works in Dallas .. I know ..I dont get why she doesn't move ..she has to stay in Dallas all week and simetimes only gets home one or twice a month .. but she loves her house and where she lives .. as before .. i wish you the very best ..
@Account Closed :) I'm going to write a more detailed reply later. I do have a friend in Jacksonville and stayed down there for 3 months last year. I'm going to message you later if it's okay
@Anthony Vanson Absolutely .. Im going to a family Bbq but I try to look at all my emails, and messeges nightly .sometimes i end up catching up on the weekends but I do get to everyone ..