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Updated over 7 years ago,
Pro/con buying multi fam rental in Texas (out of state)
Hey, just weighing more options.
Can I get a pro/con list for buying a multifamily home out if state for your first time rental? Specifically Texas, I live in Washington state and the cash flow here is abysmal. Lucky to get a CAP of 6.
In Texas, I've noticed a few quad and duplexes in the following cities
Fort worth
Killian
Austin
Dallas
San Antonio
For my Texas pros, what is your read on these areas? Crime? Vacancies? Ec t.
Also, is it very difficult to get approved for a loan that is for out of state rental? I already am pre approved for the loan in general. But haven't asked about approving out of state yet.
Thank you all so much!! I'm still new to this but learning.