All Forum Posts by: Jon Gorham

@Account Closed Thanks for the detailed breakdown of your property taxes in Texas. It seems like it's going the same way as Illinois. The only difference is that Texas has a much more diverse and booming economy (Illinois is practically bankrupt). Since you live in the state of Texas, wouldn't you be able to take advantage of the basic homestead exemption ?  That way you could reduce your property taxes and take advantage of the lower income tax while maintaining your cash flow in Alabama and Georgia, right?

@Jeff C. good to know....Thanks for the advice.

Thanks for the feedback,

@Ricky Williams Wow, that’s ridiculous that up to 1/3 of gross rent goes to property taxes in Texas. Do you have any buy & hold properties in TX?

@Jeff C. interesting to hear that there’s no state income tax in TX....currently, I’m living in Tokyo, but  I’m actively searching for investment properties. Texas is on my radar because of the booming economy and the (relatively) cheap houses available. Are you planning on holding your investments in TX or will you cut your losses before property taxes consume your cash flow?

Hello BP community,

I’m looking into buy & hold properties in the Dallas Ft. Worth area, but I’m concerned about the high property taxes in Texas. Can anyone tell me about the “basic homestead exemption”? I’d like to find out if Texas is a good state for buy & hold, or if the property taxes would wash out most of my cash flow. 

Thanks,

Jon

I read an article recently about an ai focused property management company called, “Zen Place”. Just wondering if anyone has ever used it and if so, what are your thoughts on the property management quality?

https://www.zenplace.com/

@Todd Fry Can you give any updates on your property? How are the tenants? What's your ROI and cash flow now that you have tenants? Did you find a new PM? Thanks -Jon

@Allen Harris Would you be willing to share the turn key company that you worked with in Indy? After reading this thread, I'm definitely not going with MI. Thanks in advance. -Jon

Thanks a lot to everyone for the great advice! 

Is it safe to invest in a college/university town and potentially rent to college students? I’m looking at a property that would cash flow around 9%, but the property manager told me that the vacancy rate is 10% for this town due to the large student population. Any advice would be greatly appreciated. Cheers, Jon

I am reading David Greene’s book on out-of-state real estate investment opportunities. He mentioned BP a few times in the book. Recently, I subscribed to the BP YouTube page and I just made an account on the app as well. I’m looking forward to getting involved as a real estate investor and possibly as an agent in the near future.