Anyone own Ip In Dallas Texas ?

Rob,

Why would you choose Dallas out of courosity with all the other markets in the country, and especially markets that have much lower property tax's and have much better chance for captial growth.

I understand the economy in Texas is good and the properties have been stable compared to other areas.

Most of my US clients that have gone there exited because of the running cost and the market never moves.

Best

JLH

Rob,

If you have not checked on property tax's then you need to put the brakes on Texas just about the highest tax's int he country and can make or brake an investment.

I have one client that owned 30 homes in texas and never made a dime because of expenses. He sold them all and is investing in our fully managed program. And this is an investor that owns millions of dollars of rentals, all over the country, I met him here in Oregon. We are a nice divisification for him. He fix and flips and occasionally fix and flops like all of us.

What you want to look for in texas is the NON OWNER occuppied tax… It can be much higher than for an owner. Tax's in texas can be 2 to 4 times as high as other markets.

Before you invest just call a Real Estate agent that is neutral and then call the county tax collector. Tax's will very from neighborhood to neighborhood in texas not just county.

In markets I work in owner occuppied taxs with the exemptions can be half or more of non owner occuppied and what happens is that the house gets foreclosured.  ( which most if not all of the properties your looking at have been) and they had owners in them and when you look at the tax's they are very low. Then the deeds is recorded your not living there no exemption is allow and your tax's double. And when your looking at rates at 2 to 4 % per year its can be 200 to 300 a month on a Dallas home.

Not say where your looking will be that high but it can. I have a buddie who paid 225k for a house he lives in, in dallas and pays almost 6k per year. and thats owner occ.

So just be dead sure before you pull the trigger in Texas.

Best of Luck to you.

If you want to see what we do send me an e mail and I will send you our web site.  Our model is hugely popular in the states not so much in AU as its a foreign ( no pun intended concept) Much safer than buying on your own but returns are realistic not over blown like you see on the spruikers web sites.

Best,