Newbie From Bend, OR

[Giovanna Owen]

Hi!

My name is Giovanna and I live in Bend, OR with my husband, Cody, and our 7 year old. We are interested in buying our first rental property (single family home) in October or November. We are strongly considering San Antonio, TX because:

• Job growth of 2.21%. Future job growth over the next ten years is predicted to be 40.10%.
• Sales tax rate is 8.25%. Income tax is 0.00%. If we decide to move there someday, we will instantly save 10% in state income tax.
• The local economy is stable and growing.
• We can buy a 2/1 or 3/2 and do minor rehab for $70,000 or less (all cash) and collect $900/month in rent. That's not possible in Bend, we would have to use financing.
• It a landlord friendly area.
• We would like to move there someday, but for right now, we will be in the area about twice a year and can check on the properties when we are visiting.
• It will force us to take a more hands-off approach to managing the property, which I have heard is a good habit to get into.

Our reservations are

• It's far from where we live.
• It will be difficult to get to know the area and make a good decision.
• If we need to make an unplanned trip to take care of our property, it will be expensive.

[Larry Fried]

@Giovanna Owen

Hi and welcome to BP! I am over the mountains from you in Eugene. All my REI is out of state, and it has worked well thus far. You do have to do your due diligence on whatever company and property you choose to invest with. Make sure that you have rock solid property management in place, as this can be the single most important element to a successful investment.