Buy Land in Texas
It’s a historically proven fact that if you buy land in Texas, and you buy it cheaply enough and hold it long enough, you will make money on your investment. The state has always been an excellent place to invest in land because there is so much of it, and because so much of it is relatively low-priced.
Instead of land, there are obviously other types of real estate investments available in Texas. Let’s review a few of them.
Residential income properties (single family homes, duplexes, and apartments) are popular because they produce a monthly income, and people always need a place to live. The downside, however, is ongoing maintenance, upkeep, property taxes, and insurance. And tenants can move out and quit paying rent (or worse yet, quit paying rent and not move out).
Industrial properties can often be stable and reliable holdings. Many of the expenses are passed along to the tenants under a “net lease” arrangement. Industrial tenants usually remain in place for many years. But if there is a serious downturn in the economy, and the nation enters into a recession, mass vacancies can result in the owner losing the property in a foreclosure.
Office buildings can make an owner very wealthy: just ask Donald Trump. However, if there is a downturn in the economy, and oversupply results in plunging prices, the owner can also become much poorer, very fast. Just ask Donald Trump.
But if you do nothing but buy land in Texas, buy it cheaply enough, buy enough of it, and hold it long enough—almost nothing can happen, except that in the long run, you will be more likely to become wealthier than not!