Top States to Invest in Multi Family Homes

5 Replies

Hi, I’m new to BP trying to figure out what are the top states to invest in. I know every states has there good and bad neighborhoods. What states do you guys invest in? Any advice will be great. Thanks.

Would love to hear some opinions as well.

Would love to hear how Florida ranks on that list.

I would say any state that has high demand and low supply of places to live. Sounds simple but that's a good place to start. Then there are tenant friendly states like Texas which add a bonus. I would say places where the economy and the state is growing would be another good place. Places that have no more room to build new construction and have an increasing demand would be good.

It's hard to narrow it down to the whole state. Maybe you should start with Cities.

Thanks for the advise Greg, but how do you determine what the economy and demand is per town? Any suggested methods to do this kind of research? Thanks.

This is simply my two cent...

Detroit is a great rental market currently. Although, I haven't lived in Michigan for 10+ years, if you're willing to buy a property and put some TLC into it, the rental rates seem to be on the rise due to how badly the city was hit.

One thing to consider in this market, some properties may be subject to sale ONLY if you're a Michigan resident. However, from what I've read, this applies to the SFH being placed up on auction (BuildingDetroit.org)

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