Best areas for cash flow on east coast
I know this is a loaded question...I am selling a property in NY and live in Maryland. I do not like the idea of an out of state rental but looking for a good area for cash flow and the least amount of headaches. I have been more than disappointed with the quality of property managers I have experienced...again it has been just my luck....I am tempted to just invest in the stock market but I I prefer to have some assets in real estate. I am interested in the carolinas as well as northern Florida but again being out of state has shown me the many disadvantages. Maryland is an option, however with the high taxes and property values not sure it is an area that will show much cash flow or appreciation. Just interested in your experience and advice.
@Brian Walsh and
I'm originally from Greenville and would like to purchase some rental property in the area. Do you have a recommended property manager?
I use Petra Property Management and they are great. They also work will Keller Williams to source purchases/facilitate sales.
You can look at my prior posts regarding where I buy. I focus on the outer edge of city limits and just into the county. I stay within 1 mile radius from the ball park.
Hey Marylyn,
I'm in Pittsburgh, PA. Multiple sources can confirm we have one of the strongest growing markets for cash flow and appreciation on the east coast right now. Many duplexes and triplexes for sale with great cash flow and low taxes. Your management nightmares are something I've seen plenty of people have trouble with. I recently set up my girlfriends mother with a management company for her triplex that she absolutely loves and is reasonably priced in the Pittsburgh area. A few good companies really make the "set and forget" hopes a reality. I've lived up and down the east cost and can also tell you that Boston had a great cash flow at my time of living there. That was 2 years ago however. But we're seeing large appreciation of property values as well as great gross incomes for investment properties. I personally know a few people seeing gross's as high as 13%. Good luck on your hunt though. And you're absolutely right to have something into stocks.
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Broker
- The Schoeller Group LLC
- 4122853588
@John Coleman, @Brian Walsh, @Johnny Pack - Thanks everyone for the recommendations
@Chris C. - My folks live in Easley, small world!
Originally posted by @Marylynn B.:
I know this is a loaded question...I am selling a property in NY and live in Maryland. I do not like the idea of an out of state rental but looking for a good area for cash flow and the least amount of headaches. I have been more than disappointed with the quality of property managers I have experienced...again it has been just my luck....I am tempted to just invest in the stock market but I I prefer to have some assets in real estate. I am interested in the carolinas as well as northern Florida but again being out of state has shown me the many disadvantages. Maryland is an option, however with the high taxes and property values not sure it is an area that will show much cash flow or appreciation. Just interested in your experience and advice.
Marylyn,
Congrats on your sale. Have you considered the DC market? It is not a far drive from Maryland. There are several great neighborhoods that provide quality cash flow for investors. I am happy to share discuss if you are interested.
Hi, is anyone in this thread currently investing in Pittsburgh multifamily or even other commercial assets? I would love to connect with you and hear your perspective on this market.
Cheers!
@Rob Beardsley Pittsburgh PA is a great city to invest in. Some of the factors that make it desirable for Investors is affordability, great return on investment, positive cash flow potential and an economical growth rate that rivals other larger metropolitan cities. Pittsburgh continues to see out-of-town investors showing a huge interest in Pittsburgh due do it's market growth, steadily increasing property values and rising rents. Pittsburgh is affordable to live so it draws many professionals seeking a city that has a lot to offer...that youthful vibe that is so appealing! New investments by Google, Apple, Facebook and Autodesk is a true testament to the growing infrastructure here. Reach out to people in any city you are considering for advice on buying into, and managing remotely, including what areas of the city are more inclined to generate positive income. Whatever market you choose, look for those that know that market well and reach out to them. I wish you much success....Gary
@Gary Swank Thanks for the detailed response! I am from California and a student at Carnegie Mellon. I am prepared to make value-add class B and C multifamily investments (25+ units) and live in the area for a few years and being hands on with the investments. I appreciate the insight about Google, Apple, etc. I too believe strongly in Pittsburgh as a growing market, appealing to younger professionals. Do you have experience helping investors make these types of acquisitions?
Best,