Any one here does real estate investment?
i do rental and have been doing it for a while.....i just wanted some ideas from like minded people to see where is a good place buy one now. I planning to buy another one this year....I was eying texas. What are you thought on the next hot market?
yesko baremata taha bhayena, mitra ...... speculative hunch. I know ki Texas ma RE taxes alik high cha ---- given that there is no State Income Tax.
no income tax in texas. I know this.
and which other tax is high in texas?
Raj,
I think neplainepali has clearly mentioned that RE (Real Estate) taxes in Texas is high. And If I am not mistaken, it is second 2nd highest in the country after New York.
Also, What you mean by "no income tax in texas"? Only Gas station and restaurant and few other small business that pay cash might not file their taxes. But that doesn't mean there is no taxes.There is Only Federal Income tax in Texas. No state Tax.
OK so we've established that Texas has a high RE tax. Good to know.
So, let go the next part of the question.
What other areas that are hot?
I'm not limited to Texas....I'm open to any state.
Below are the latest results on "hotness" states.
I hope this was very informative.
^ you just won the internet bro lol. In all seriousness I have been also trying to invest in RE for a while, may be I watch too many of those house flipping show and they make it look so easy. The housing prices are going up compared to a year ago in Texas, I thought it has to do with the oil fields but even right now when the oil prices are down the prices are still going up. BTW do you have any experience in buying apartments in NYC and renting it out?
@ no_more_crush - lol....well played bro...well played!!
Looser - were you directing your question to me?
@ Santa lil helper
How do you maintain and manage house . You do it your self or hire some property management company. Since you said you are ok with buying any where I think you use management company .
I am trying to find decent property management company that's the reason I am asking . May be it will depend on where ur property is but just trying to general idea. I am focused on Texas if that helps.
@santa lil helper : yes sir, would you share some insights with us. I just can't get over the fact that I have to pay HOA fees for rest of my life when I buy apartments.
@ meraj,
Yes i go thru a management company. Yes, they do get a cut of the rental income, but i'm willing to cut that small loss for less headache.
To be honest even if i own a rental down the street from me....i think i would still go thru a management company unless the tenants are people that i know. The management deals with all the issue. i just see the funds in my account...no stress.
@ looser,
I don't mind sharing idea at all. To be honest, i think this is what is lacking in the nepali community.....purely thru my observation.
do you have any specific question? what would you like to know?
Just basic stuff man, I have always wanted to be in this space of investment but to be honest never had the guts to take the risk and go for it. I use to live in NYC long time ago and now when I look at the prices of condos and apartments they skyrocketed so much that I feel so stupid that I never thought about buying it. Now, when I am going through it, I saw that you have to pay HOA fees which is like 480/600 every month for rest of your life even after your loan is paid off. DO you have any condominiums or apartments like this in your portfolio? or do you just do single family home?
oh man NYC is a place i wish i own.....but the asking price is way to much. That is why i venture to different state where the money can go further. NYC/SF/DC is way to high. Your mortgage will be higher than the rental income.
Trust me i know the feeling. And of course my parents were like "No, its a bad idea" and just about anyone you tell......but the funny thing i joke with them and tell em "see.....Good things happens when you don't listen to you parents"...lol and the people who told me not to do it...are now the same one asking me about properties.
Anywho.....my rule is 3br/2ba. This attracts families. single or row homes don't really care. i do have a condo.....and yes the i gave it a lot of thought on it because of the condo fee.....but i just include the fee in the rent so it works out. The condo is 1br/1.5ba.
So with that being said.....
Do I prefer condo over SFH? No. i prefer SFH/RH
Will i ever buy a condo? Yes, but it has to really really really good deal.
I do move-in ready home. The most I've ever done on a house is paint and put down new carpet.
I don't do fixer-upper since i go out of state.
If my mortgage is higher than the projected rental income - it's a deal breaker for me.
My management company are the big real estate company that you see in TV/ads/etc.
Good way to determine what area is good...is looking at the school rating.
Good way to determine what will be the rental income...CL, real estate companies, rent.com
If you do start...please and trust me.....do start a llc and list that property under that llc. We are a sue happy country!!!
Duplex are good to.....but you'll typically need more money to start.
Ramro management company kun chha ni bro boston tira?
@ Santa lil helper
Can you mention your management company , if you are ok with that. Or you can PM me if you want.
I am trying to get right company and your recommendation will be very helpful, since you are already using it.
@ Meraj,
I went with remax and Long n foster. Simply because i purchase the property thru them.
There are company out there that do solely on property management.
General rule when doing this is that you don't want the property manager to also be a realtor. They tend to focus more on helping client buy/sell. Long and Foster has a separate department that strictly does management.
Keep in mind....they are working for you. So you can fire the manager if they are not being responsive to your needs/question/etc. You can also negotiate the monthly fee they charge...some want 25% walk away, 20% walk away, 15% hear what offer, 10% good...this is what i get charge for all my property.
hope this helps!
It Does . Thank you for information
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