Investing In San Antonio from out of State

[Christopher Griffin]

Hi Everyone,

Some colleagues and I are looking to invest in San Antonio, Texas.  We've heard consistently that the market there is great. Being from California, I had some general questions about investing out of state.  I"d be great to hear advice from anyone who has done out of state investment, and also from local San Antonio investors.  These are our questions:

1. Can you get an in state loan for an out of state real estate purchase?

2. How do mortgage brokers calculate eligible loan values and credit scores when multiple investors are involved?

3. Should we form an LLC? If so we would prefer to form out of state because of California business fees.

4. Since we are looking to invest in real estate outside of our home state, what are some common hurdles and pitfalls that we should be aware of?

6. People who invest in Texas from out of State, how was your experience with cash flow with having to pay your state’s income Tax combine with Texas’ high property tax?

Thanks!