Both cities don’t have state tax. But State tax is a significant part of the budget. So if others are same, the facility and services should be not as good as city where state tax applies. I understand that Dallas fill this gap by higher property tax (about 3%). So it depends on your preference: state tax or higher 3% property tax. For Dallas, it’s not an ideal place for house investment For Seattle, they are not able to fill the gap
Ok TaxGPT
Facility like this? https://apnews.com/article/california-san-francisco-climate-and-environment-cab7011953482c7eabc5ad41c6582773
@OP, Why isn't Dallas an ideal place for house investment. I am from the Bay Area and don't have much clue about Dallas 😅
ya why? I thought it is a great place for housing investment
Dallas is among the highest taxed properties in the country on average and there’s no legislation to cap the yearly tax increases if it is not your primary residence. It’s not impossible to invest in Dallas but you need more money upfront if you want to cash flow faster. ESPECIALLY after this Covid boom we hit an inflection point with home values and tax increases that made home ownership tougher along with the interest rates
Ok
In the end state need money to perform state government functions. There are different ways to do it. Which one is better is an personal opinion or how the choice impacts you personally.
For Seattle, WA introduced capital gains tax for the state. And will continue to introduce more if need be.
Sales tax
The suburbs of DFW, despite not having a state tax, have alot of money. The infrastructure, police, fire fighters, hospitals are leaps and bounds above many states with an income tax. Southlake, Frisco, Plano all have lots of $$$. Most of it comes from property taxes but also businesses as well
My cousin who is an accountant has 4 rental properties in the Dallas area and is doing just fine....he owns in expensive neighborhoods so you get only good high income folks and does background checks before getting a tenant. He bought these homes between 2010 and 2015. He's honed his skills over the years and seems to be good at dealing with typical issues and doesn't seem to be a big deal for him
I’d be curious to know what areas in Dallas. A lot of areas in Dallas have come up from low/middle to “expensive” since 2010. There are a few neighborhoods im thinking of that fit this description and your portfolio is looking GREAT if you bought in those areas between those years you listed. The rent in a lot of those areas have exploded.. plus getting to refinance down to those Uber low rates during Covid
Ok