Looking to invest out of state for cash-flow (currently live in California)

[William Smith]

Hello there,

My name is Will and I currently live in Northern California. I am currently doing my first BRRRR that should give me around 100k in equity after a cash out refinance. I am looking to deploy my cash into a multi family property that has great cash flow. Obviously, every one wants that great property that cash flows but I just wanted to see which city/state you guys are investing for great cash flow returns so that I can start searching around there. I want to use all 100k for one large multi-family property to maximize cash flow.

Any advice would help!

Thank you all,

Will

[Eliott Elias]

There are tons of states in the south that strictly cash flow. I believe Texas is the best state on earth to invest. 

[William Smith]

Copy that. I have only visited College Station and Austin. Any particular area you focus on investing? Near elite high schools? College towns? 

[Nathan Gesner]

Quote from @William Smith:

Look for Dave Meyers here on BiggerPockets and on the BiggerPockets YouTube channel. He analyzes the markets and creates lists of the Top 10 areas to invest in.

[William Smith]

Cool. Thanks Nathan!

[Travis Biziorek]

Hey William, where in Northern CA are you? I'm in the Central Coast but invest in Detroit. In my opinion there is no better cash flow market that has as much potential upside potential as Detroit does. I own 12-doors there and am staying active.

Hit me up if you want to chat about that market.

[William Smith]

Hey Travis,

That’s awesome! I went to school at Cal Poly SLO so I know that area well. I go down there often to visit friends and play golf. Currently I am up in Mendocino County. I’d love to chat more about the market in Detroit. I haven’t looked into it much but it does have some hype around it. I’ll shoot you a message. 

[Patrick Drury]

@William Smith
I am currently doing a couple of BRRRRs in Columbus OH. As of lately, there have been more opportunities in Cleveland. I would recommend checking both markets out though. 

[Joshua Filkill]

@William Smith Columbus and Cleveland are both great options right now. Check out this article that show's where rents are rising and falling: https://www.biggerpockets.com/...

Cleveland has risen ~15% while Columbus has risen ~9%. With good entry price points these are good cities to look at for cash flow

[Travis Biziorek]

Quote from @William Smith:

Hey Travis,

That’s awesome! I went to school at Cal Poly SLO so I know that area well. I go down there often to visit friends and play golf. Currently I am up in Mendocino County. I’d love to chat more about the market in Detroit. I haven’t looked into it much but it does have some hype around it. I’ll shoot you a message. 

 We were just at a Cal Poly baseball game last weekend with the kiddos.

Let me know the next time you're around and we can grab lunch or something.

[Tatum Littleton]

Quote from @William Smith:

Copy that. I have only visited College Station and Austin. Any particular area you focus on investing? Near elite high schools? College towns? 

Hey William! Love that you've visited both College Station and Austin (I am actually from College Station and live in Austin)! My wife and I invest in Bryan/College Station and think it has a great unique market, and currently looking for something in Austin. I would love to connect with you about your visit to Texas and talk about investing in different areas. 

[Anthony L Amos Jr]

Quote from @William Smith:

Hello there,

My name is Will and I currently live in Northern California. I am currently doing my first BRRRR that should give me around 100k in equity after a cash out refinance. I am looking to deploy my cash into a multi family property that has great cash flow. Obviously, every one wants that great property that cash flows but I just wanted to see which city/state you guys are investing for great cash flow returns so that I can start searching around there. I want to use all 100k for one large multi-family property to maximize cash flow.

Any advice would help!

Thank you all,

Will

 Toledo, Cleveland, and Dayton Ohio are all good for cash flow. Leverage that 100k and buy a sizable multifamily property that will be an income generator for years

[Nader Shariff]

I would strongly look into investing in the midwest 

specifically in Detroit MI or cleveland oh 

[Najma Osman]

Hey @William Smith

If you are looking for the best cashflow markets, check out this article https://www.biggerpockets.com/...

[Scott Allen]

@William Smith 

You should look into buying a fourplex in Columbus, OH with the amount that you would be able to put down

[Aj Parikh]

Hi William, I have found value investing in Cleveland, OH because it is home to Cleveland Clinic, lot of good neighborhoods, landlord friendly laws, stable appreciation and good cash flowing properties. There are also abundant opportunities for small multi family andSFH. I have been able to scale up to 12 doors in 2 years so definitely recommend this area. Feel free to reach out and we can discuss.

[Kyle Dwyer]

Hi William,

It's great to hear about your successful BRRRR project and your plans to invest in a multi-family property with your cash. If you're looking for areas with great cash flow returns, there are several cities and states worth exploring. Here are some suggestions:

1. Texas: Texas is often regarded as a favorable state for real estate investment due to its strong job growth, population growth, and landlord-friendly laws. Cities like Austin, Dallas, and Houston have shown good potential for cash flow. Additionally, college towns like College Station can offer investment opportunities near elite high schools or universities.

2. Ohio: Cities in Ohio, such as Columbus, Cleveland, and Dayton, have been known to offer good cash flow returns. These cities have stable economies, affordable housing prices, and a strong rental demand. Columbus, in particular, has been experiencing growth and offers opportunities for multi-family investments.

3. Detroit, Michigan: Detroit has gained attention in recent years for its potential as a cash flow market. It has affordable properties, a low cost of living, and a strong rental demand. However, it's important to conduct thorough due diligence and understand the specific neighborhoods within Detroit to identify the best investment opportunities.

4. Cleveland, Ohio: Cleveland is another city known for its potential cash flow opportunities. It has a stable housing market, affordable properties, and a diversified economy. Cleveland Clinic and other major employers contribute to the demand for rental properties in the area.

When exploring these or any other markets, it's crucial to research the local rental market, economic indicators, vacancy rates, and property prices. Additionally, consider working with local real estate agents and property managers who have expertise in the specific markets you're interested in. They can provide valuable insights and help you navigate the investment process.

Best of luck with your multi-family property search, and I hope you find a great opportunity to maximize your cash flow!

[Linda Labbe]

Detroit all day long 2% rules works there and they entry prices are very reasonable. I am in Ontario investing remotely  with a wonderful team on the ground  Could not be happier. More the willing to share what we are doing with anyone who want to chat

[Mackaylee Beach]

If you ever consider Kansas City I'd be happy to connect. 

[Shayee Senbore]

Quote from @Patrick Drury:

@William Smith
I am currently doing a couple of BRRRRs in Columbus OH. As of lately, there have been more opportunities in Cleveland. I would recommend checking both markets out though. 

@Patrick Drury & @Aj Parikh 

I'm new to RE Investing, considering Cleveland and/or Dayton for buy & hold investing using cash only.  I'd love to chat with each of you about your knowledge & experience with the Cleveland market.

[Bonnie Low]

Don't overlook Cincinatti, Dayton and Columbus OH - basically that entire corridor. What I like is that there are still plenty of cash flowing C+ neighborhoods whereas in many areas you have to get into the D neighborhoods to find cash flow if you're financing and we all know that "cash flow" in D neighborhoods is a crap shoot due to higher expenses, vacancies and turnovers.

[James Wise]

Quote from @William Smith:

Hello there,

My name is Will and I currently live in Northern California. I am currently doing my first BRRRR that should give me around 100k in equity after a cash out refinance. I am looking to deploy my cash into a multi family property that has great cash flow. Obviously, every one wants that great property that cash flows but I just wanted to see which city/state you guys are investing for great cash flow returns so that I can start searching around there. I want to use all 100k for one large multi-family property to maximize cash flow.

Any advice would help!

Thank you all,

Will

Saw some folks mentioning Cleveland as a possible market for you. Lots of folks are interested in Cleveland. But word of caution, you can and many do lose money in this market if they don't understand what they are buying. If you're looking to do some research on Cleveland neighborhoods, you'll get a ton of value from The Ultimate Guide to Grading Cleveland Neighborhoods.

[Linda Labbe]

we do a lot of investing in the US and we live in Ontario. Love Detroit and Toledo where the 2% rule still works in decent areas  one just has to be very careful where ones buys and what one buys. More than willing to chat about what we have found out with anyone with is interested

[Nick Benjamin]

Hey Will, I have a deal now that would be great for what you're looking to do. Here's some basic info on it:

It's essentially rent ready shape aside from maybe some minor bathroom touch-ups, kitchen touch-ups, and exterior touch-ups. This could make for a fantastic section 8 rental with current FMR for 4 bedroom homes at $1777/m or local area rents averaging around $1550 a month. Newer water heater, updated electrical panel, and updated HVAC system with a newer condenser outside. Selling for $105k

This is a deal that we get all the time and I'd love to send you full details and supply you with more!

Feel free to reach out and chat.