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Author Topic: Investing in Texas Property  (Read 7268 times)

Offline hatemyjob

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Investing in Texas Property
« on: July 24, 2006, 12:53:55 am »
I visited San Antonio.Houston Katy, League City .I see a lot of people have invested in those areas. I notice home prices area very reasonable. Who will invest in Texas. Property Tax area high 2.1 to 4.6 Would you invest Texas Yes Or No  and Why?   Ps i was told Disney was coming to Katy tx and Auto manufactor Newmi was coming to San Antonio Tx

Offline Infowell

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Re: Investing in Texas Property
« Reply #1 on: July 24, 2006, 01:21:35 pm »
I'm researching Texas currently.

I like the affordability and job markets look strong in Houston & Dallas.

I may have this backwards, but last time I checked; Houston had -3% inventory on the market compared to this same period last year while Dallas had about the same inventory, and again...both have very strong job markets.

It appears there's a good cash flow potential...a near impossibility on the West Coast nowadays.

-Infowell
« Last Edit: July 24, 2006, 04:07:49 pm by Infowell »
Reality is for those with no imagination

Offline NoMoneyDown

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Re: Investing in Texas Property
« Reply #2 on: July 25, 2006, 06:19:22 am »
The property tax and insurance rates are a LOT higher than most areas of the country, so you will need to really think about them when figuring your cashflow (for BnH's).

Markets along the I-35 corridor are starting to see growth - especially SA and Dallas.  Houston is also seeing a little growth as is the Austin metro area.  I am personally witnessing an influx of California investors.  It seems for every non-occupant property I see, around half are owned by someone with a California address.
Stephen
"Without Goliath, David would have never uncovered the giant within him." - Robert Kiyosaki, 'Retire young, Retire Rich'
"Whatever you think is real is your reality." - Robert Kiyosaki, 'Retire Young, Retire Rich'
"The difference between a goal and a dream

Offline hatemyjob

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Re: Investing in Texas Property
« Reply #3 on: July 25, 2006, 09:34:13 am »
Yes you are right many Califorians have bought homes i houston and other areas. The dwn fall is you need a strong cash flow. Because some investors are having a hard time renting or leasing their property. I went to a KB new homes in SA   I saw  5 homes for lease thats high for a new community.

Offline NoMoneyDown

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Re: Investing in Texas Property
« Reply #4 on: July 25, 2006, 09:59:27 am »
I recall last year, the rate of HUD foreclosures was high in the state of Texas.  I routinely saw 700, 800, and even 900 foreclosures listed on any given week.  I don't recall ever seeing anything above 1,000, although, I'm going on failed memory here.  In the past several months, though, I haven't seen a week go by that the number of HUD foreclosures has been LESS THAN 1,000 for the state of Texas.  If this is indicative of all properties, and not just HUD's, it appears foreclosures as a whole are on the rise.  Perhaps it is due to short-term ARM's hitting their end, or rising oil prices, or a combination of things, or whatever.  The point is if people are getting our of the home ownership market (whether volunatrily or involuntarily) they still must find a place to live.  This means the rental market could very well be heating up again in Texas (or, at least, select pockets in Texas).
Stephen
"Without Goliath, David would have never uncovered the giant within him." - Robert Kiyosaki, 'Retire young, Retire Rich'
"Whatever you think is real is your reality." - Robert Kiyosaki, 'Retire Young, Retire Rich'
"The difference between a goal and a dream

Offline SAguy

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Re: Investing in Texas Property
« Reply #5 on: July 26, 2006, 09:57:49 am »
A few insights to the SA market:  Lots of investors have seen potential in SA=lots of homes purchased=lots of vacant rentals=lower rents.
Long term is the answer in SA, not flipping.
I love it, but needs to be watched carefully.  SA still has lots of inexpensive (cheap) homes, but unless one knows the neighborhoods, and is prepared for vacancy or lower rents, it can be challenging.
On the bright side: SA has great, and real, growth=lots of potential new buyers and renters=lots of opportunity for investors. 8)

 




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