Texas, specifically Dallas, Real Estate

Quote from GermanTrader:

If I only netted 10% per month, why the hell wouldn't I just work for a living?
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It is called "geometric growth" If one netted 10% a month, then as long as one is not trading extremely illiquid instruments, next month is 11%, then 12.1%. etc...

Also, it depends on one's bank account. 10% monthly on $200,000 would exceed most salaried positions.

And further, if netting 10% monthly on rental properties, one could easily afford management, and the properties would explode in number and revenue and wealth over the next 5 years.
 
Quote from EMRGLOBAL:

I have no Idea where Maverik lives, but If you live in a "Metro" area in TX (Dallas, Austin, H-Town or San Antonio) property taxes are 3% PLUS.

If you live in some podunk town outside Urban Areas, your taxes can be as low as 1.7%.

Texas is holding strong and property values have stablized, with very little growth but they are not falling like most area's in America.

Your money goes a lot further in Dallas, etc than many places. However, Texas is still, TEXAS. It isn't hip, nor is it very progressive, even Dallas is slow when compared to NYC and Chicago.

You do not want to be on a "salary" in Texas. They pay shit. However, if your Trading, or work in the Oil/Gas sector, making East/West coast wages. You can stack up chips faster than anywhere else while you have a nice home, top of the line Auto and all the bells and whistles that come with "Bling Blingng".

Also, building a home in Texas, From sticks to bricks is far cheaper than the rest of the US, including Land.

Texas is the place to lay low, build wealth, and head back East/West when the Economy is booming.......but you'll have to put up with "TEXAS" for the next decade.

PS: I fly to Play Del Carmen all the time. It's a way to escape TEXAS and cheaper to get to from Texas. Paseo is now 13 to 1.
Texas allows you to work hard and then go play hard on the beaches of Mexico.
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I live in Chicago and I believe Austin is far more hip and progressive then San Fran or Seattle. Just my opinion though.
 
Quote from Pa(b)st Prime:

In a weird way I like that area. Some kick ass views and unlike the far North Side easy access to an airport. The Orange Line to Midway can't be beat. My biggest hassle about commuting Chi-SoFla is getting to O'Hare. $30 by cab and an hour or more in traffic from Edgewater.....
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The views and Orange Line are the straws that got me. It's also right there on quick shopping. The 24/7 Jewel. A few blocks over to the Dominicks and Whole Foods. Easy trip down Michigan to the clients and more shopping. Yeah, I stopped using ORD as a primary long ago. Too much hassle for just about everything. I've cabbed to the MDW terminal from the south loop in under 15 minutes before. :)
 
just a fyi for all those who didn't go to fourth grade. then and than are different. You people are giving me a headache trying to read your gibberish.
 
Quote from EMRGLOBAL:

Your money goes a lot further in Dallas, etc than many places. However, Texas is still, TEXAS. It isn't hip, nor is it very progressive, even Dallas is slow when compared to NYC and Chicago.

You do not want to be on a "salary" in Texas. They pay shit. However, if your Trading, or work in the Oil/Gas sector, making East/West coast wages. You can stack up chips faster than anywhere else while you have a nice home, top of the line Auto and all the bells and whistles that come with "Bling Blingng".

Also, building a home in Texas, From sticks to bricks is far cheaper than the rest of the US, including Land.

Texas is the place to lay low, build wealth, and head back East/West when the Economy is booming.......but you'll have to put up with "TEXAS" for the next decade.

PS: I fly to Play Del Carmen all the time. It's a way to escape TEXAS and cheaper to get to from Texas. Paseo is now 13 to 1.
Texas allows you to work hard and then go play hard on the beaches of Mexico.
More...

Shhhhhh!!! You're giving away our little secrets! LOL!!! I earn Chicasgo $$$ and go back occassionally to stay up to speed and keep things in line. But I enjoy Dallas living costs. And I've banked a ton these past few years. In addition to Mexico, I pop in and out of Vegas to kick back and kill a few bucks too! :)
 
I've crisscrosed that state a hundred times....but I must admit that Lubbock was never a stop. Honestly, that really is the kind of town one can do well in. Thanks for the tip.

Quote from abe12345:

In 2001 I purchased a 2 unit house (Front house and 1 efficiency in back, and enough land to add another unit or small appartment with on site parking) in Lubbock, TX, walking distance to Texas Tech University, for 53K, and with imporvements it totaled 58K. Currently renting out for total of $900 a month, never a shortage of tenants. But ofcourse there are management and maintenance costs. Might one day add an appartment to it. Don't know how Lubbock is these day, but worth looking into.
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Great discussion guys. Btw I posted on another Texas thread regarding The Woodlands a few weeks ago. I just got back from my trip to Houston/Dallas. I really liked The Woodlands (Houston), but my wife didn't find as many jobs close to there in her interviews as she was hoping. She found a lot of stuff in other parts of Houston but we didn't like those areas quite as much, so Houston's a bit further down the list for now.

We really liked Dallas quite a bit though, and we've lived in Austin 2 years and loved it (she's applying for jobs there now though there are much fewer available, and probably to Dallas + Atlanta soon).

We live in Los Angeles now and love it too, but property is just too high to buy (even now). The kinds of houses in great school districts, upscale, safe, trendy, artsy areas in Texas (or Atlanta right now) which can be had for $200k-500k would cost us 1-3 million in Los Angeles. So that's kind of the angle we're looking at.. standard of living..

Most of our friend's complaint about Texas is the heat/humidity, luckily that doesn't bother us, we're kind of salamanders I guess :)

In terms of "culture" I think you can find wonderful people in any major city. We've seen very good theater/music/art at all these Texas cities. I saw an amazing play in Houston (Cyrano de Bergerac), and just saw King Tut in Dallas. Many of our California friends feel Texas is a wasteland but personally I don't feel that is true at all.

I have some really nice friends who are traders in Austin too. We used to go to Berryhill in West Austin, overlooking this awesome view, drinking some excellent Mexican Martinis (kind of like strong margaritas), good times good times :)
 
Quote from Dr. Zhivodka:

I've crisscrosed that state a hundred times....but I must admit that Lubbock was never a stop. Honestly, that really is the kind of town one can do well in. Thanks for the tip.
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You are welcome.
 
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