All Forum Posts by: Kent Ford

Quote from @Jay Hinrichs:

Quote from @Kent Ford:

Quote from @Jay Hinrichs:

Quote from @Joe S.:

If I didn’t live in Texas, I would probably invest elsewhere due to the exceptionally high taxes. 

that was my experience in owning props in Texas. I am a firm believer that you have to live there and offset your prop tax's with zero income tax and of course be a local and self manage. then to me its like any other market in the country basically..

I completely get where you're coming from. Being local and self-managing definitely helps keep those property taxes in check. Without the income tax benefit, it really starts to feel like any other market, especially when you're not there to handle things firsthand. Do you think there are certain areas in Texas where this model still works well, or is it becoming more challenging statewide? How do you see the future of the Texas market for out-of-state investors?

Joe can answer this other that funding a few land flippers in Texas the last few years I have not done any deals on improved properties.. And I dont personally hold any rental properties etc in Texas.. I just remember getting my tax bills on a few of the flip properties i funded in Dallas a few years back and man those things are eye watering. :)

It sounds like you've had quite the experience with those tax bills! What was the driving factor for you when funding land flips in Texas, compared to other types of properties? Do you think the high property taxes play a significant role in shaping your investment strategy moving forward?

🤔 Did you know? Texas is one of the few states with no mandatory property disclosure law. This means sellers don't have to reveal as much about a home's condition before selling it!

What do you think about this law? Would you feel comfortable buying a home with less info?

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Starting a real estate business anywhere comes with its challenges, and Texas is no exception. For those who've made the leap, what has been your biggest hurdle? Was it finding the right market, navigating local regulations, or building a network?

Quote from @Jay Hinrichs:

Quote from @Joe S.:

If I didn’t live in Texas, I would probably invest elsewhere due to the exceptionally high taxes. 

that was my experience in owning props in Texas. I am a firm believer that you have to live there and offset your prop tax's with zero income tax and of course be a local and self manage. then to me its like any other market in the country basically..

I completely get where you're coming from. Being local and self-managing definitely helps keep those property taxes in check. Without the income tax benefit, it really starts to feel like any other market, especially when you're not there to handle things firsthand. Do you think there are certain areas in Texas where this model still works well, or is it becoming more challenging statewide? How do you see the future of the Texas market for out-of-state investors?

Quote from @Jason Taken:

Quote from @Kent Ford:

Texas is one of the top states for house flipping, but it comes with challenges like fluctuating property values and renovation costs. If you've flipped properties in Texas, what have been your biggest lessons learned? How do you find the best deals in a competitive market like Texas?

 A lot of our borrowers, specifically new construction builders, in and around Austin - are having to hold properties for much longer than expected. Just my two cents

That’s a great insight, especially with the current market shifts. Holding properties for longer than expected can definitely put a strain on cash flow for new construction builders. Do you think this trend is more specific to Austin, or are you seeing it in other parts of Texas as well? How are builders adapting to these longer holding periods, and do you think there’s a strategy that could help them navigate these challenges more effectively?

Quote from @Joe S.:

Quote from @Kent Ford:

Quote from @Joe S.:

If I didn’t live in Texas, I would probably invest elsewhere due to the exceptionally high taxes. 

That's an interesting point about Texas taxes! While property taxes are definitely higher here, many investors are still drawn to the state's lack of income tax and the strong real estate market. I'm curious, if you were to invest elsewhere, what areas would you consider and what factors would drive your decision? Do you think the potential for appreciation or cash flow in Texas outweighs the tax burden?

We have had instances in Texas, where the taxes outpaced any rent increase.   Investors typically have more write offs than they have income… So no income tax in Texas is not as compelling as some might think in my opinion. I am speaking from an investor standpoint that’s going to rent out the property. If I didn’t live in Texas, I’d probably invest where I live. Lol. 😂 

That’s an interesting point about Texas taxes! While the lack of income tax is a huge draw for many, I agree that property taxes can quickly eat into profits, especially for investors renting out properties. It’s a balancing act, and sometimes the numbers don’t always make sense. From your experience, how do you weigh the pros and cons of investing in Texas compared to where you live? Do you think there are specific markets or strategies that might help offset the high taxes here?

Texas is seeing a surge in new real estate businesses due to its booming population and investor-friendly climate. What do you think makes Texas such an attractive place for entrepreneurs in the real estate space? Is it the lack of state income tax, affordability, or something else?

Texas is one of the top states for house flipping, but it comes with challenges like fluctuating property values and renovation costs. If you've flipped properties in Texas, what have been your biggest lessons learned? How do you find the best deals in a competitive market like Texas?

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Quote from @Joe S.:

If I didn’t live in Texas, I would probably invest elsewhere due to the exceptionally high taxes. 

That's an interesting point about Texas taxes! While property taxes are definitely higher here, many investors are still drawn to the state's lack of income tax and the strong real estate market. I'm curious, if you were to invest elsewhere, what areas would you consider and what factors would drive your decision? Do you think the potential for appreciation or cash flow in Texas outweighs the tax burden?