Minneapolis, Ohio, Indinapolis ???
Hello to all from BP and thanks for all of the info and knowledge!!
I am a soon to be new investor and am looking to purchase my 1st mfr .
I am from Los Angeles and want to purchase mfr in the Twin Cities (i have family there) but have had 2nd thoughts after reading here on BP as far as price, cash flow of homes , etc.. So i am now thinking Ohio, Indianapolis, etc.
My main reason for thinking Ohio or any other place is 1st before Msp is i can get my feet wet with cheaper purchase price and better cash flow
My goal is buy, hold and cash flow.
Im looking for B/ C+ areas. Im thinking 50- 100k mfr give or take with the different variables
I do not want any turn key mfr with new cab, floors, windows as im a custom finish carpenter here in L.A by trade. So dont want to pay for work i can do. Dont want to get into full gutting rehabs neither.
I work custom multi million dollars homes with 20yrs exp. Also worked for some home flipping investors during the recession that paid me tremedously to leave my job at the time. Although i have not "owned" a rental, mfr i am not totally "wet behind the ears" when it comes to homes. The buildimg part anyway lol.
Maybe ive rambled on to much (sorry) but im basically looking for..
Your thoughts on investing in Ohio, Indianapois, etc 1st before MSP.
In the state that u suggest, which cities ? I want to be in B/C+ areas. Not in the "hood" where its not safe at night.
And any other thoughts, suggestions you have are very much welcome!!!
P.s.. I do have 20% down for the property plus cash for any repairs that are needed if any.
Thanks in advance for the help!!!!