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Multi-Family and Apartment Investing

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Diem Tran
  • Investor
  • Miami, FL
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47
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Your thoughts about MF investing out of state

Diem Tran
  • Investor
  • Miami, FL
Posted Nov 13 2014, 04:41

I'm working up the nerve to invest in a 60+ MF in Arizona. CAP is about 9% ( with property management) which sounds pretty good compared to 6% in Miami, where I live. I have next to zero experience in MF properties and will definitely have property management do everything. I really like to hear your thoughts on this, especially if you invested out of state and had PM on board.

I thought about investing in smaller properties or even something closer to home but again I don't have any experience and would need a PM anyways so wouldn't economies of scale work out better on a larger property with a higher CAP rate especially if I have the capital for it? I've always thought it might be wiser to buy a property that I could readily get to . But then I ask myself, why is that important if I don't manage it myself anyways?

Please help.

Confused and Not even a rookie yet 

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