What is the "BIG" deal with Texas??

Question

Ever since I have joined the site I have read several discussions and saw many deals being offered from the Texas area.It made me wonder what is going on in the Texas market to make it such a hot spot?

Nick Marrs · Answer

I just recently wrote an article on the Texas housing market and how it has managed to stay the healthiest in the country. A lot of success has come from the creation of thousands of jobs and the resulting increase in population. I guess the bbq has had an impact too!
          
          To take a look at my complete report visit [LINK REMOVED]

Kyle K. · Answer

It's a popluar state with high Cap rates that most believe is the key to Cash Flow.  It's also cheap.

Timothy W. · Answer

I have a totally unfair concept that will piss off the liberals on here and it's based on one party constituency's susceptibility to consumerism (aka overpaying).  I can't pin it on that though.  Out here folks overpay for a used 4x4 all the time.   :lol:

I think what may be a factor in it though is that higher "prices" leads to higher property taxes - but more social services.  Where I'm at, I don't have as many municipal pools, skating rinks or community organizers as a typical Chicago area suburb....but I'm paying 1% property tax and "prices" keep tax assessments low - thus cashflow up.  Those of us that really want a pool can buy our own 2 to 3 times over each year for the difference in property taxes on a 3 bedroom home here vs. Chicago area.

Now you have me thinking if it's not red states, but red counties because I do know of some very conservative counties in Illinois outside of Cook that cashflow well....

Tod R. · Answer

Tim, I've thought the same thing about red states vs blue states.  Do you suppose its a union/political thing?  Basically, interference with private enterprise?  Or the type of industries that red states attract?

btw, we had a cool front come through.  Today's high only mid 90's!

Ty Hines · Answer

ok Tod will look it up

Timothy W. · Answer

It's us yankees who start wondering right about this time of year if we can sell everything and have a cash flowing portfolio set up by November.  The uh...."scenery" down there isn't so bad either.  I think they put must cattle hormones in the school system water.

Lee will jump in on this one so I'll just give him a shoutout.  I'm getting down there soon for some fishing once it cools down up here and I need to escape some winter.  I'll be giving you a holler.

The reality is that red states, on average, tend to cashflow better across the board.  Don't ask me to explain why but it's just a  phenomenon that works.

Tim

Tod R. · Answer

It's simple.  It's the barbeque...

Others may say that Texas has been adding jobs and population at a steady rate without the excessive run up in real estate prices.  There is a nonprofit web site you can find if you search Texaplex that will explain the attraction to Texas.

Go Cowboys!