Buying 2nd investment property.

4 Replies

Hey everyone ,

This my officially my first bigger pocket posts in the forums, I am sure there will be many more.  Ill make this short and sweet.

I own one single family home in California in the Bay Area that  has decent cash flow and Looking to buy second property wondering peoples thoughts. ? 

Single family vs multifamily - I am leaning towards multifamily your thoughts 

Best markets for single family in the U.S 2021 

Best markets for multifamily in the U.S as of 2021 

I am currently pre approved for 350k. My down payment will be 25% on the property 

Ive been in contact with agents in florida, texas and ohio already. 

How are you analyzing your deals quickly being that there are so many homes out there ?  I want to be able to say yes or no quickly based on the numbers. 

Thanks for any feedback on any of my questions 

When you have multiple markets in mind that fit your criteria it pretty much comes down to building a team when investing out of state. You should have a decent understanding of the market to start and if the purchase prices rents and sales comps in the areas fit the deal, then it should be a streamlined process from there. Best of luck @Patrick Thomas Dickinson

Originally posted by @Patrick Thomas Dickinson :

Hey everyone ,

This my officially my first bigger pocket posts in the forums, I am sure there will be many more.  Ill make this short and sweet.

I own one single family home in California in the Bay Area that  has decent cash flow and Looking to buy second property wondering peoples thoughts. ? 

Single family vs multifamily - I am leaning towards multifamily your thoughts 

Best markets for single family in the U.S 2021 

Best markets for multifamily in the U.S as of 2021 

I am currently pre approved for 350k. My down payment will be 25% on the property 

Ive been in contact with agents in florida, texas and ohio already. 

How are you analyzing your deals quickly being that there are so many homes out there ?  I want to be able to say yes or no quickly based on the numbers. 

Thanks for any feedback on any of my questions 

It does not matter where you start as long as you develop your Core 4. The core 4 is David Greene’s strategy for long-distance and made up of a realtor, contractor, property manager, and lender. Once you have this team in place, you should be able to confidently invest in any market.

As for picking a specific market - I would go after one with an increasing job and population growth. I invest and work in Columbus, Ohio.

Hello Patrick! 

The time in real estate right now is undoubtly some of the best time to invest with being able to use other peoples money with little coming out of your pocket to put more IN YOURS! As far as investing goes you can go anywhere across country to invest with the way it is now. My advice is to look little deeper then just what is posted in magazines and online. Ask people online what they see up and coming, Reach out to local agents such as myself, find out what is going on in the areas, but most important find key locations in those areas. 

The only thing I can advise is if the numbers work and you are comfortable then pull the trigger. Thinking too much into it will start to talk yourself out of it Find out what you are looking for ( I.E. cash flow or Appreciation) and stick to that path until you cannot or can go higher.