All Forum Posts by: Neil Aggarwal

 Ok, maybe Texas just likes to spend money so it needs the tax revenue.

 They do this all the time in Texas.

Why are you buying something far from you?  There should be properties in your area and those will be much easier to manage.  I prefer to be close to my investments.

 Maybe I am wrong, but isn't the rent for Section 8 housing paid by the government? So, why would it matter if the tenant is employed? Or, are you talking about collecting a higher rent than what the government is willing to pay?

I don't know about Ohio since I am in Texas. Here, property taxes are fairly high since there is no state income tax.

It does not matter what the property taxes are on a given property.  It only matters is if the rent you can charge covers all the expenses and makes you profit.

It sounds like you are assuming the same monthly tax amount across all the properties you are analyzing.  That is not correct since the taxes vary.  Use actual numbers, they are available from the county website since it is public information.

Every year, the county gives you a chance to protest the tax assessment.  You should always do that if the property is assessed too high.  Remember, you have to have facts to support your opinion of the property's value.  The county won't accept generic answers like "My taxes are too high".

I hope this helps and good luck investing!

The good deals are usually gone before they make it to MLS. If you are a long-term investor, you can still find MLS properties that generate ROI, they will just be few and far between.

I assume you are not able to get financing from the local banks.  If so, have you tried to find private lenders in your area?

I think the government should go after the offending landlords and not make blanket rulings and processes that punish landlords that are already being good to their tenants.

The straightforward approach is the best solution. Talk to them.  Say you are interested in buying the property and want to know if they would be interested in selling to you and how much they think they will be asking.  If there is a meeting of the minds, great.  If not, move on.

I am pretty sure those two requirements will create new business for vendors that translate leases and inspect properties.  All of that expense will eventually have to be paid by the tenants in the form of increased rent.  

Nobody thinks about the fact that the tenant has to pay for everything or the landlord will stop doing business.  Laws like this have the exact opposite effect of their intention to help the tenant.