All Forum Posts by: Justin Brin

Quote from @Bruce Lynn:

I'm invested in both areas.

These days I would chose TX over AZ for long term, for a couple of reasons.

#1.  Long term water issues.   I just don't see that as a positive or positive solutions moving forward over the long term in AZ.

#2.  Growth has slowed significantly in AZ, still strong in TX.

I'm guessing returns today are about the same for you?

(1)
Regarding water it seems like they have solutions it will just means that developers/contractors will have to invest extra to add water options and most likely will increase the cost of new constructions but you are right I need to look into it more.
On the other side because of climate changes TX will be suffering from more extreme storms (tornadoes and floods) that will make it less desirable and increase insurance costs?! What do you think?

(2) What data source are you using to compare the growth of TX vs AZ?

Regarding "I'm guessing returns today are about the same for you?" What you mean? I'm currently only investing in LA but looking to expand to other profitable states.

Quote from @Lucia Rushton:

@Justin Brin I am of course biased. We moved here from Cali and it was the best decision we made.

The growth in Dallas Fort Worth continues to be strong.

How are the taxes and insurance in Dallas Fort Worth?

Quote from @Colleen F.:

@Justin Brin   What do you want to achieve?    What area do you know better?  How close are you to either area?      Do you only what the actual named city or are you looking at the metro area? Like in phoenix that includes Scottsdale, Mesa, Glendale, Tempe, ect. 

I'm talking about Phoenix metro area.

Since I live in CA I'm closer to AZ.

I'm looking to build a rental portfolio for long term appreciation but also not to go crazy on negative cashflow.

At the moment I know a bit more about Phoenix, AZ

Quote from @Joe S.:

Quote from @Josh Young:

@Justin Brin we have plenty of properties under $400k in the greater Phoenix MSA that are in good areas, so you will see good appreciation, you can get break even on cash flow, and we have a lot lower property taxes than TX.

Property taxes in Texas can be a deal killer. 😳

Can you please give me more information about TX property taxes?
What percentage of the purchase price are the property taxes there? How much and how often can they raise the taxes?

@Matt Jiencke I will not rush to buy many properties at once. I believe it's better to start with one and learn so that you don't overwhelm yourself.

Perhaps consider moving to a rental in Texas for a few months to test the waters. In the meantime, you could rent out your house in Boston for a few months. This way, you will gain experience while learning about the market.

Once you are certain about the move to Texas, consider taking out a HELOC on the house in Boston, enough to buy a rental in TX. I believe in starting slowly, learning, and avoiding the urge to rush.

Most people who have become wealthy through real estate have done so through long-term appreciation. It's crucial not to overwhelm yourself right from the beginning.

Quote from @Account Closed:

Quote from @Justin Brin:

Quote from @Account Closed:

Quote from @Justin Brin:

Since prices in Dallas TX are lower than Phoenix AZ.  Where will you prefer to invest lower class area in Phoenix AZ or higher class area in Dallas TX?

Assuming you want to invest a max of $350-400k where will you choose and why? 

What's your goal?
Appreciation?
Cash Flow?
Tax write offs?
Build a portfolio?
STR?
Rental?
Fix & Flip?
To say you now own a propert?

What is your long term goal?

Build a rental portfolio for long term appreciation but also not to go crazy on negative cashflow.

(I currently only own in Los Angeles but looking for out of state opportunities.)

Have you looked close by, Phoenix?

What you mean?

Quote from @Josh Young:

@Justin Brin we have plenty of properties under $400k in the greater Phoenix MSA that are in good areas, so you will see good appreciation, you can get break even on cash flow, and we have a lot lower property taxes than TX.

How would be there the cashfow and appreciation? Do you have some numbers to share?

(Yes it seems like Dallas, TX has high insurance cost and higher property taxes),

Quote from @Account Closed:

Quote from @Justin Brin:

Since prices in Dallas TX are lower than Phoenix AZ.  Where will you prefer to invest lower class area in Phoenix AZ or higher class area in Dallas TX?

Assuming you want to invest a max of $350-400k where will you choose and why? 

What's your goal?
Appreciation?
Cash Flow?
Tax write offs?
Build a portfolio?
STR?
Rental?
Fix & Flip?
To say you now own a propert?

What is your long term goal?

Build a rental portfolio for long term appreciation but also not to go crazy on negative cashflow.

(I currently only own in Los Angeles but looking for out of state opportunities.)

Since prices in Dallas TX are lower than Phoenix AZ.  Where will you prefer to invest lower class area in Phoenix AZ or higher class area in Dallas TX?

Assuming you want to invest a max of $350-400k where will you choose and why? 

Quote from @Greg Scott:

To analyze deals, you don't need anything special or expensive. With Excel, any MLS aggregator such as Zillow, Redfin, etc plus some others like City-data.com you can get most of what you need to analyze deals.

I will checkout City-data.com I never heard about it before. Thanks!