Best cities for medium/high end 4-plexes
I live in the SF bay area, where I work as an engineer. I have a strong income, so financing should be easy.
I have ~10 years experience in real estate, but the market near me is terrible for cash flow. I'm looking to invest in some 4-plexes (so that I can get residential financing). I'd like to hear some suggestions as to cities anywhere in the US that have reasonably nice/safe areas with good 4-plex deals.
Preferably:
a) at least 50k per unit, 100k+ per unit would be ideal
b) GRM of no more than 8
c) Big enough market that is the first few go well I can buy many more.
My ideal would be something like a 400k 4-plex in a medium size city that rents for 1200+ per unit.
Suggestions?
I'd like to know if you ever found what you were looking for. I live in L.A. and want to invest as well. I hear good things about the midwest and South. thoughts?
I have seen something like this in OK city. Reach out to @Marco Santarelli
Thanks for the shout-out @Chris Bodden.
Continued success!
@Miles Presha -- The Midwest and southeast offer some of the best deals today in rental real estate. Most of the other markets are overheated and over-priced. The numbers don't pencil out in many of them.
We've actually had to start introducing tertiary markets to add to our inventory in secondary markets. The markets are just getting that tight. So we have to adapt.
You can reach out to my team for a more detailed analysis if you like.
Continued success!