Great Read For Any Usa Property Investors

[zippys]

I recieved this a few days ago, It would be great to get your views on this,

http://www.slate.com/id/2250999/?yahoo=y


Peter T

 

[markpatric]

Interesting read, I just wonder if real estate values escalated in Texas as much as they had done elsewhere before the crash?.

They say it only dropped minimally in value, but from what levels?.

 

[meconium]

Many states, Calif and NYC for example, have seen significant price declines. Nevertheless, they remain unaffordable relative to local peoples incomes.

No so Texas, where prices never skyrocketed during the last boom. Prices now remain affordable relative to local peoples incomes. Downside: beware ongoing high Texas property taxes.

Texas has a lot going for it. Best to go there, spend a few weeks driving around, and make an informed decision. Better not to listen to others, particularly those in the sales business.

It's your money. Hard earned and easily lost.

 

[zippys]

I agree 100% meconium!!!!!!
I spent 2 years and many visits to Texas before I made my first purchase!

Peter T

 

[meconium]

Peter, do you know about property taxes in Texas? Are they as prohibitive as some say? I'm certainly interested in investing in the USA and Texas is probably one of the more interesting places I want to look at.

 

[zippys]

Yes!! Property taxes are high in Texas compared to other states in the US, the reason for this is due to the taxes are used to fund the school system. 3 years ago this was taken all the way to the supreme court and was viewed as uncontsitutional, so this has lowered taxes in Texas by a very minimal amount, but taxes still remain high.
However the investments I have been buying with my US based business partner are solid good homes in good areas with a fixed interest rate loan, with great growth aspects, equity and anywhere between 20-30% cash on cash return.
Also if you buy a property then sell the property to a rent to own tenant, you are not paying any taxes at all.
So there are many reasons to invest in Texas and yes the taxes are high, but relative to the investment as a whole, I believe Texas shows outstanding results.


Peter T