Rental Property Investor · Member since 2019 · 10 posts · 9 votes
Hey all, currently I have 3 duplexes in Minneapolis, each bought for around $240-$250K and they bring in about $2500-$3100 in rent each. I'd now like to diversify and am looking into Milwaukee, Atlanta, and Vegas. Would love to hear of anyones experience in one of these markets, see some examples of cash flowing 2-4 unit properties, and get connected to a realtor/investor in the market that owns multiple multi-family properties.
Property Manager · Milwaukee, WI · Member since 2014 · 113 posts · 144 votes
7y
I'd suspect most cities these days are expanding, so depending on your primary criteria and reason for expanding out of Minneapolis it could sway opinion to one or the other. Most folks come to Milwaukee for better cash flow, there are also some cool developments and expansion going on in most parts of town. Typical duplex in a reasonable area will run you $150,000 - $200,000 and with rents 1% or better.
Real Estate Agent · Atlanta · Member since 2019 · 44 posts · 24 votes
7y
@Taylor Hoch @Taylor Hoch it seems like you got a pretty good deal going over there. Atlanta is a great place to be right now. The city as a whole is rapidly growing and being revitalized. There are a lot of great deals available in and everywhere around the greater Atlanta area that will generate solid cash flows and appreciate quickly.
Property Manager · Milwaukee, WI · Member since 2014 · 113 posts · 144 votes
7y
I'd suspect most cities these days are expanding, so depending on your primary criteria and reason for expanding out of Minneapolis it could sway opinion to one or the other. Most folks come to Milwaukee for better cash flow, there are also some cool developments and expansion going on in most parts of town. Typical duplex in a reasonable area will run you $150,000 - $200,000 and with rents 1% or better.
Rental Property Investor · Minneapolis · Member since 2019 · 257 posts · 244 votes
7y
What is your reason for diversifying? you cant get properties in Minneapolis that meet your criteria? Out of state investing will obviously bring some new challenges. I would just make sure you prepared to deal with this.
Riverdale, GA · Member since 2019 · 49 posts · 27 votes
7y
Hey @Taylor Hoch if you are looking into the Atlanta market I would suggest either the west side or south side. Specifically Marietta, Riverdale, or Collage Park. Great opportunities there. Decatur, which is popular on the east side of Atlanta, seems to be saturated now. Feel free to reach out for more information and I would be happy to help with any other questions. Good luck!
Rental Property Investor · Member since 2019 · 10 posts · 9 votes
7y
@Randy Bloch Hey Randy, I live in DC currently and invest in Minneapolis so I've been doing the remote gig currently but since I have 3 properties in Minneapolis already, I want to begin looking elsewhere from a risk mitigation/diversification standpoint. While I may get another in MN, I don't want to get more than 4 without finding an equivalent property elsewhere.