How to cash flow MFH in tenant friendly states?

Question

I’m in NY and I know cash is king in the mid-west but there have to been investors actually cash-flowing in the North (NY, NJ, CT, MD etc). I am looking further out of state but I really don’t have boots on the ground any where else so I would really just be going in blind. Looking for tips and success stories.

James Wise · Answer

Dodged a bullet there lol.

Jezelle John · Answer

@James Wise lol - I just emailed your company today! Your YouTube video saved me from investing with Morris invest.

Drew Sygit · Answer

You might want to follow the "Deep Dive" series we're doing on our BiggerPockets blog about Metro Detroit cities and City of Detroit Neighborhoods:

https://www.biggerpockets.com/...

James Wise · Answer

Best way to cash flow in tenant friendly states is by spending your money in landlord friendly states lol.

Allen McGlashing · Answer

@Jezelle John

Welcome to BP you have found the right place to learn endless amounts about real estate investing.

The first thing I suggest to you for investing out of state is to read the book "Long Distance Real Estate Investing" by David Greene it will give you a complete guide on how to do this. Find your area then reach out to an agent and get setup on the MLS. That will generate LEADS for you to look at and run numbers on the properties. If you find a Rockstar agent that has experience with out of state investors they likely have the people in place for each step. They can refer you to contractors, property managers, inspectors.

Feel free to contact me if you have any questions I’m here to help as a fellow investor that is probably going through or been through what you are.

Frank Rodrigues · Answer

@Jezelle John

You might want to consider Turnkey Properties which have already been rehabbed, with tenants and property management in place. If you are interested in the Kansas City market or even Dayton OH, feel free to PM and I can show you some options that may be a great fit for you. I hope that helps and best of luck!

Michael Plante · Answer

Lots of cash flowing properties in Rochester and Syracuse

But, per usual higher cash flow often means lower appreciation and lower level neighborhoods

Jezelle John · Answer

Hahaha…..great way to put it.

Marc Rice · Answer

You can cash flow in most markets across the USA, you just need to find the right source of deals to find those properties. Yes you can cash flow in the midwest more easily on average but it's the same process of needing to find a deal source who can bring you those cash flowing deals. You should analyze a few markets, make a decision, and find a good investor friendly agent.

Derrick Smith · Answer

@Jezelle John like I saw someone else say, connecting with a rockstar agent in the state you want to invest in is key. One of the way my team likes to find value-add opportunities is by looking for properties that have below-market rents and doing the underwriting to see where the rents could be based on the market rate. When you have landlords who have a property that they don’t pay any attention to and god forbid, have property managers in place who aren’t doing their job and raising rents to keep up with the market, there’s a simple value-add opportunity. Mind you, you can only increase rents a certain percent each year, but it’s a good opportunity to look for (or have your agents look for).

If you’re interested in looking in NC, let’s connect!

How to cash flow MFH in tenant friendly states?

How to cash flow MFH in tenant friendly states?

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