Best markets for cash flowing small multi-family properties?
I am looking to purchase a house-hack quadruplex for my first property. I do not have too much money to start, what markets do you recommend I look into?
Vincent,
Are you looking to possibly relocate? I noticed you are in Long Island? There are a handful of homes which you can buy and they have duplexes with an extra unit in the back for a 3rd tenant.
@Vincent Lattuca If you are looking to go out of your area start with area's you know or area's where you know someone. If you don't know anyone anywhere you would like to invest pick some places you would like to visit now you get a trip and can make part of it business trying to network with investors and agents. If you are limited on capital pick a market where you can invest in, or work on saving up more capital.
Quote from @Vincent Lattuca:
I am looking to purchase a house-hack quadruplex for my first property. I do not have too much money to start, what markets do you recommend I look into?
Dave Meyers with BiggerPockets has a blog and YouTube video that discusses the Top 10 markets to invest in right now, and he backs it up with solid data.
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#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
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Killeen Texas
I am a real estate agent and investor in the Houston market.
Katy, Cypress, Spring, some parts of Houston, Conroe, Tomball, Pearland are great markets.
Rent growth and appreciation is steady.
These cities tend to command quality tenants, and they have great schools.
All the best!
-
Real Estate Agent Texas (#736740)
- (832) 776-9582
- https://tinyurl.com/f4ce9n8j
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- Podcast Guest on Show #469
Philadelphia does great for 3-4plex properties. A good amount of sellers are willing to entertain seller-financed deals. I am a native of the city and a local investor myself. Let me know if you want to talk.
My first property was a 4plex in the zipcode 19121 that does fantastic for me.
You should probably consider partnering with someone in Philly as boots on the ground and knows the markets and blocks well.
Quote from @Timir Shah:Hi Timir. Yes I am willing to relocate and actually looking for out of state options.
Vincent,
Are you looking to possibly relocate? I noticed you are in Long Island? There are a handful of homes which you can buy and they have duplexes with an extra unit in the back for a 3rd tenant.
Quote from @Wale Lawal:
I am a real estate agent and investor in the Houston market.
Katy, Cypress, Spring, some parts of Houston, Conroe, Tomball, Pearland are great markets.
Rent growth and appreciation is steady.
These cities tend to command quality tenants, and they have great schools.All the best!
Thank you Wale! I will look into these cities, I appreciate your help
Quote from @Saaj Patel:
Philadelphia does great for 3-4plex properties. A good amount of sellers are willing to entertain seller-financed deals. I am a native of the city and a local investor myself. Let me know if you want to talk.
My first property was a 4plex in the zipcode 19121 that does fantastic for me.
Thank you Saajan! I will look into Philadelphia and would love to talk sometime
Quote from @Vincent Lattuca:
Quote from @Wale Lawal:
I am a real estate agent and investor in the Houston market.
Katy, Cypress, Spring, some parts of Houston, Conroe, Tomball, Pearland are great markets.
Rent growth and appreciation is steady.
These cities tend to command quality tenants, and they have great schools.All the best!
Thank you Wale! I will look into these cities, I appreciate your help
My pleasure to help and share the information!
-
Real Estate Agent Texas (#736740)
- (832) 776-9582
- https://tinyurl.com/f4ce9n8j
- [email protected]
- Podcast Guest on Show #469
Buying your first property out of state is a tall order! You'll want to pay attention to taxes, property values, and tenant-landlord laws. Much of the midwest and south are good in all these areas.
We have very low taxes, but don't see the appreciation some other markets might get. On that same token, we aren't subject to the ups and downs of the market other places experience either!
I would recommend the Cincy market. There are definitely deals to be done here for househacking! Let me know if you are interested and I can help you find your next investment!
Quote from @Eliott Elias:
Killeen Texas
Would you be able to explain why?
appreciation, and cash flow