Investing In Texas? Good Or Bad?!

[Sam Chicquen]

Hey, everyone! How's it going? I've been doing some research, and I'm really interested in the multifamily real estate market in Texas. The thing is, I don't live there, and I'm eager to start my investing journey in that area. I was wondering if there are any seasoned multifamily investors in Texas who have an in-depth understanding of the market.

If you're someone with significant experience in Texas multifamily investing, I would be extremely grateful if you could spare some time to answer a few questions. Connecting with someone knowledgeable like you would be an invaluable opportunity for me to expand my understanding of the market and gain some valuable insights.

Your expertise and advice are highly respected, and I genuinely appreciate any assistance you can offer. Looking forward to the possibility of connecting with you and learning from your experiences. Thank you in advance for your time and willingness to help!

[Alecia Loveless]

@Sam Chicquen Hi Sam, I don’t personally invest in Texas but my parents and sister live north of Dallas in the Denton area and my sister has a healthy portfolio.

Just to give you a heads up before you buy in Texas be aware of the property taxes on any properties you get serious about and try to look at them for a few years going back.

Both my parents and sisters personal homes have gone up in tax assessed value by approximately 50% on average for the past 5 years with my parents house going up $278,000 in assessed value this year alone even though they have made $0 in improvements to it. This amounts to about $7,000 on their tax bill. When my dad, who is an attorney, went to the appraisal district for round 1 of trying to get it lowered the lowered it by $40,000.

My sisters rental properties all went up on average about 40% in assessed value which means that where she had a small cash flow every month now she is basically breaking even on them all after the recent increase in insurance premiums and now the increase in her property taxes.

I just advise you that if you get serious about a multi family property in Texas to make sure that it’s taxes haven’t gone up by thousands of dollars the past 3-4 years because likely whatever town it’s located in will continue doing that and it’ll eat into your cash flow.