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Right now I'm going through the 1031 exchange process and I'm having a tough time finding a replacement property within the 45 days. I'm an out-of-state investor from NY so I rely on friends and realtors to bring me deals. Recently, a guy I know said he was moving and selling his duplex for $200k in Houston, Texas. I don't own any properties in Texas but after looking at the details I'm seriously considering giving it a go. Asking price is $200k but I offered $185k cash.
@Account Closed not offended. Please spread the word. Houston is overpriced. Too hot, too humid, too may bugs and hurricanes. Leave some opportunities for the locals. No, I am being a little facetious. We do have a problem here and it isn't demand - it is lack of supply, particularly at lower price points or really anything under the median. And you nailed it on property taxes.
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