Is Dallas OR Texas Area a Good Market?

[Jennipher Jess]

Hello Dallas Area :) 

I am getting started on receiving funding for our first investment. Currently taking out a home equity loan on the house for 8.03% and debating whether to take $150,000 out or $300,000.

That said, we are going to be looking in the area for an investment property but we're unsure where to start in the great state of Texas. We are currently in the Dallas area and are looking here, however open. We weren't sure if going out further would be easy to do. 

Any advice or tips are welcome :) 

Thank you!

[Jill Addison]

@Jennipher Jess we inherited our first rental from my father-in-law who lived in Pflugerville, a suburb just outside Austin. It's done well and appreciated a ton in the last 10 years. So I was looking for "another Pflugerville" couple years ago, since now those prices are too high to make it cash flow, and I moved up the road about an hour to Temple Texas and bought a couple SFR rentals there. They have also cash flowed okay. But then I started investing in Knoxville, TN, and realized how ridiculous property taxes are in Texas. They're 2 to 4 times what you pay in Knoxville, even though both Tennessee and Texas have no state income taxes. Texas has some of the very highest property taxes in the nation, and it just kills your cash flow. My rental in Pflugerville just doubled the property taxes and cut my cash flow in half there. For that reason I will not be investing in Texas anymore.