I have rounded up a few investors and we'd like to purchase Multifamily Properties in Cleveland or Jacksonville. Preferably finding distressed properties, fixing, and holding. Both markets are a great investment I'm just trying to figure out works best for us.
I've noticed you can find duplexes and fourplexes in Cleveland easily, but because of higher property taxes I'd need to buy in lower C / D areas to make decent cash flow (this is just my initial research). Additional costs for snow and heat could add up as well.
Jacksonville seems to have less MF on the MLS and less property taxes.
Any advice, experiences, or thoughts would be helpful before we finally pick a location.
@James Wise is the top multifamily broker in Cleveland. If you want to buy multi there, that is who you should be talking to.
@Jeff Stansberry Hello, Jeff Please PM me