Florida, Texas Or Colorado? Where Should I Invest? 馃
Ottawa, ON 路 Member since 2023 路 111 posts 路 32 votes
Hello everyone,
I am currently seeking insights from experienced investors who have invested in Colorado. As I explore the possibility of purchasing my first multifamily property, I am eager to establish meaningful contacts and gain a deeper understanding of the investment market trends and differences in the region.
While I have conducted preliminary research on potential investment destinations, I find firsthand experiences to be invaluable. Thus, I am particularly interested in hearing from those who have invested in Florida, Texas, or Colorado. Your expertise and perspectives would be immensely appreciated as I make informed decisions.
Thank you for your time in advance its greatly appreciated and respected!
I can only attest to Florida. That is where we're based and have resources in place (contractors, agents, title companies, etc) to do what we do. I'm both a lender and investors, so I'll put my investment cap on. We primarily focus on the Tampa Bay area South and we've dipped our toes in the water in the Melbourne/Space Coast areas. Florida is the #1 net-positive migration state, but like anywhere, you've got good pockets and bad pockets...good deals and bad deals. Honestly, I think you can do well in most markets if you 1) have a thorough understanding of the market or a partner that does, 2) have good boots on the ground in the market that can watch your investments, and 3) have the resources availble to care for the entire life-cycle of your investment. Can you analyze it, buy it, rehab it, rent it (if that's your schtick), and watch it? I love the Tampa Bay market right now...even with the gloom and doom, but like any market, you have to know what your looking at. You can have big wins and big losses in any market. If you visit Tampa...PM me...I'll buy you a cup of coffee when you visit.
Look into property taxes for Texas, most counties have an average 2.8% tax rate. So a 1 million dollar house is almost 30k in taxes in Texas. Even in the nicest neighborhoods in Tampa, a 1 mil property tops out at about 12k.
If you need assistance with mutlifamily, I have a rolodex of trades and project managers that can manage it efficiently for you remotely.
Look into property taxes for Texas, most counties have an average 2.8% tax rate. So a 1 million dollar house is almost 30k in taxes in Texas. Even in the nicest neighborhoods in Tampa, a 1 mil property tops out at about 12k.
If you need assistance with mutlifamily, I have a rolodex of trades and project managers that can manage it efficiently for you remotely.
I want to express my appreciation for your time, it's truly invaluable to me.
I do have a few questions that I believe your guidance would play a crucial role in addressing. If you don't mind, would it be okay for me to send you a direct message to discuss further?
Thank you once again for your generosity in sharing your knowledge
I can only attest to Florida. That is where we're based and have resources in place (contractors, agents, title companies, etc) to do what we do. I'm both a lender and investors, so I'll put my investment cap on. We primarily focus on the Tampa Bay area South and we've dipped our toes in the water in the Melbourne/Space Coast areas. Florida is the #1 net-positive migration state, but like anywhere, you've got good pockets and bad pockets...good deals and bad deals. Honestly, I think you can do well in most markets if you 1) have a thorough understanding of the market or a partner that does, 2) have good boots on the ground in the market that can watch your investments, and 3) have the resources availble to care for the entire life-cycle of your investment. Can you analyze it, buy it, rehab it, rent it (if that's your schtick), and watch it? I love the Tampa Bay market right now...even with the gloom and doom, but like any market, you have to know what your looking at. You can have big wins and big losses in any market. If you visit Tampa...PM me...I'll buy you a cup of coffee when you visit.
Thank you so much for your comprehensive insights on the Florida market. I'm currently writing all this down, and I seriously appreciate the time you took to share your expertise.
It's great to hear about the resources you have in place in Florida, and the emphasis you place on understanding the market, having boots on the ground, and ensuring the availability of necessary resources for the entire investment life-cycle.
I'm genuinely considering coming down to Florida, and I would be honored to meet with you and buy you a cup of coffee or lunch in exchange for further discussions on your valuable knowledge and insights.
Again, thank you for being so generous with your advice. Your perspective on the Tampa Bay area has piqued my interest, and I look forward to exploring potential opportunities in the market.