Newbie Here! Looking to invest in Multi Family Units

Member since 2023 · 3 posts · 1 vote

Hi All!
i just signed on hoping to gather as much investment information as possible. I will be giving notice to tenants this month on a condo I own, in So Cal, that is paid off. Looking to up my real estate game and reinvest in a multi family unit or…..here for ideas. Should have around 550-600k to invest. I also own two single family homes in Lindale, Texas. This will be my first multi family purchase and not quite sure where to begin. Been doing a lot of research, looking outside of California due to price point, and not sure how to find an agent to help me when I am open to investing really anywhere. NC, TN, TX (but oh those property taxes.) Here for any and all information you want to pass my way!

Happy Thanksgiving!!!

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Jason WrayPro Member

Banker · Nationwide · Member since 2020 · 2k+ posts · 1k+ votes

Laura,

Great options so far TN, NC, & TX but take a look at IN, OH, and OR. Three other hot markets with fair annual taxes per year. Thats a big chunk of liquid reserves to invest that would stretch out into several down payments. Also keep you cash fluid to be able to renovate/repair if needed to build up the ARV.

More doors more cash flow so you are on the right track. I would reach out to @AJ Wong

Anthony "AJ" Wong he resides in Cali but also covers OR. The Oregon Coast has some insane beach front properties with huge cash flow opportunities right now. These homes are a fraction of the price compared to California with an eigtht of the taxes. Makes for a great STR or LTR either way its also a growing market.

Check your options but I would advise doing a few purchases under a true bank portfolio program. Only 15% down even on 2-4 unit multifamily investment rentals. You can use the rents to qualify as well at 75% per door.

[email protected]727-637-4289

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Jason WrayPro Member
Banker · Nationwide · Member since 2020 · 2k+ posts · 1k+ votes
2y
Laura,

Great options so far TN, NC, & TX but take a look at IN, OH, and OR. Three other hot markets with fair annual taxes per year. Thats a big chunk of liquid reserves to invest that would stretch out into several down payments. Also keep you cash fluid to be able to renovate/repair if needed to build up the ARV.

More doors more cash flow so you are on the right track. I would reach out to @AJ Wong
Anthony "AJ" Wong he resides in Cali but also covers OR. The Oregon Coast has some insane beach front properties with huge cash flow opportunities right now. These homes are a fraction of the price compared to California with an eigtht of the taxes. Makes for a great STR or LTR either way its also a growing market.

Check your options but I would advise doing a few purchases under a true bank portfolio program. Only 15% down even on 2-4 unit multifamily investment rentals. You can use the rents to qualify as well at 75% per door.

[email protected]727-637-4289
3 Reply
Grant SchroederPro Member
Lender · OR ID AZ CA WA CO NV TN MT · Member since 2018 · 601 posts · 314 votes
2y
@Laura Nelson, I second that! Definitely get in touch with AJ @AJ Wong to strategize on next moves!

[email protected]541-231-1256
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Laura Nelson
OP
Member since 2023 · 3 posts · 1 vote
2y
Quote from @Grant Schroeder:

@Laura Nelson, I second that! Definitely get in touch with AJ @AJ Wong to strategize on next moves!

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Laura Nelson
OP
Member since 2023 · 3 posts · 1 vote
2y
Quote from @Grant Schroeder:

@Laura Nelson, I second that! Definitely get in touch with AJ to strategize on next moves!

Thank you! I will definitely get in touch with AJ.
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Robin SimonBusiness Member
Lender · Austin, TX · Member since 2022 · 5k+ posts · 4k+ votes
2y
How big a property are you looking for? In my experience, the smaller multifamily niche can be pretty lucrative (properties in the $500k-$1.5M range 5-20 units or so), as the bigger more sophisticated players tend to not dip this low but the returns can be good
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