Fort Worth Investing

[Chris Viola]

I’m looking to buy multi- family properties in the Fort Worth area. I’ve heard conflicting thoughts as to where to invest. What ar your thoughts?

[Ryan Blake]

@Chris Viola I agree with everything you said. I would love to continue the conversation but I wanted to leave one point for others to read. I get your motivation with having family in the area and I think that will be what will make Fort Worth good for you.

The reason to NOT invest in Fort Worth or Texas for that matter if you are out of state is we have the 4th highest property taxes. Why? Because we have no state income tax. If you invest remotely you are paying for residence to not have a state income tax, then you are taking the money back to your state where you are then paying your state income tax.

In California you pay the highest state income tax at 13.3% (next highest for 2018 is Hawaii at 11%) and then you are investing in an area where you are paying the 4th highest property tax (roughly 2.75% of assessed value). It just doesn't make sense to get double taxed that much unless you are holding solely for appreciation.

I personally do buy and holds and fix and flips. Let me know if you have any questions. DM me and I will share my phone number.