Looking into making some BIG changes. Was wondering what the MOST INVESTOR FRIENDLY states are for Real Estate.
I’ve heard that TEXAS SUCKS for real estate investors. What is your favorite state and why?
Interested in doing lease-options, subject to, and contract for deed.
Thanks for your input.
gennyree
The most friendly?
I would look for the state I wanted to spend time in. Maybe a state that is within some specific travel pattern or no more than a certain distance from where you live, work, etc.
Even within a state you need to look at the city rules and regulations plus the demographics. A great state or city when viewed from a legal perspective could be a really problem if there is no real demand. Some of the rust belt can be fine for investing while other cities in the same state or region would be a waste of time.
It depends on what you mean by “Investor Friendly”. Texas is a great state for investors. The main reason is because of the eviction process. By law, if the tenant does not pay rent within 3 days and has no intention to, you can legally evict him/her in less than 30 days. They will not be in your property after 30 days. The court system does not mess around in Texas! Georgia is also pretty good. I’ve heard places like New Jersey and Ohio have a long eviction process.
If you are going to buy and hold, do some research on the eviction process in the markets that interest you. But it doesn’t sound like you are buying and holding.