Best market for 2-4 units with good cashflow

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Best market for 2-4 units with good cashflow

Martin Krimmel
Investor · Seattle, WA · Member since 2018 · 20 posts · 18 votes

Hi all,

I was wondering where other members are investing that are primarily looking for 2-4 unit properties with good cash flow. I'm focusing on long term rentals and ideally properties that meet or come close to the 1% rule. The price range I'm looking at is between 100-180k. I'm already investing out of state and would be happy to connect with some property managers and agents from areas where the above criteria apply.

Thank you everyone!

Marty

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Jack Medford
Investor · Nipomo, CA · Member since 2014 · 366 posts · 401 votes
7y

I moved from California to Wisconsin about 2 years ago, and have since focused most of my time on Milwaukee and the surrounding area. There are tons of properties in your price range which cash flow anywhere from 1.5%-2% even on the MLS. Happy to share my experience if you're interested in this market.

I've also recently begun looking at Rock County (southern Wisconsin) as there are a lot of cash flow opportunities. However, 2-4 unit properties are not nearly as prevalent as they are in Milwaukee. 

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  • Justin Franklin
    Rental Property Investor · Los Angeles CA · Member since 2017 · 100 posts · 37 votes
    7y

    No connects for you Martin, but I'm in the same boat. I've had my eye on a few duplex's in fort worth. I think Dallas has great long term growth potential. I've found it difficult to find du/tri/four-plexes that meet the 1% rule. I'm interested to see how this thread goes... If I come across something that helps, I'll shoot it your way. 

    0Reply
  • Martin Krimmel
    OP
    Investor · Seattle, WA · Member since 2018 · 20 posts · 18 votes
    7y

    @Justin Franklin sounds good and thanks for sharing your experience! Will be interesting to hear some different views and perspectives about what's currently out there.

    0Reply
  • Jack Medford
    Investor · Nipomo, CA · Member since 2014 · 366 posts · 401 votes
    7y

    I moved from California to Wisconsin about 2 years ago, and have since focused most of my time on Milwaukee and the surrounding area. There are tons of properties in your price range which cash flow anywhere from 1.5%-2% even on the MLS. Happy to share my experience if you're interested in this market.

    I've also recently begun looking at Rock County (southern Wisconsin) as there are a lot of cash flow opportunities. However, 2-4 unit properties are not nearly as prevalent as they are in Milwaukee. 

    3Reply
  • Tracy Schulz
    Rental Property Investor · Member since 2018 · 6 posts · 0 votes
    7y

    Thank you for this information. I am looking at visiting Milwaukee in a couple of months. Do you have an agent that you recommend for that area. 

    0Reply
  • Martin Krimmel
    OP
    Investor · Seattle, WA · Member since 2018 · 20 posts · 18 votes
    7y

    @Jack Medford thank you for sharing! I'll PM you for some details to see if that could be a good fit.

    0Reply
  • Rebecca KnoxBusiness Member
    Specialist · Milwaukee, WI · Member since 2014 · 1k+ posts · 1k+ votes
    7y

    I agree with Jack--there are a ton of areas you could be in at that price range. Feel free to join Brew City REI Club as there are 1800 other active out of state and local investors/agents investing in Milwaukee that love to give feedback on areas too and referrals.

    Captain Save-A-Home LLC
    WebsiteView Page
    1Reply
  • Martin Krimmel
    OP
    Investor · Seattle, WA · Member since 2018 · 20 posts · 18 votes
    7y

    @Rebecca Knox sounds great! I'll look into Brew City REI. Appreciate the info!

    0Reply
  • Gregory Chadwell
    Real Estate Broker · Milwaukee, WI · Member since 2015 · 299 posts · 90 votes
    7y

    I have a relative and I’m supposed to meet with Monday on a four unit I’m contemplating the listing price with him let me know if interested 

    0Reply
  • Martin Krimmel
    OP
    Investor · Seattle, WA · Member since 2018 · 20 posts · 18 votes
    7y

    @Gregory Chadwell thank you, sent you a PM.

    0Reply
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