Originally posted by @Chris Clothier :
Mary Joe - I really like the Memphis market, the Dallas/Ft. Worth market for long-term buy/hold markets. I am also starting to invest in Nashville in Tennessee and researching Austin and Houston over in Texas.
Your question about Cash Flow has a lot of other detail that you should consider and maybe share before really knowing a market that fits your goals. Are you talking Cash Flow as a creation of using leverage? If so, you can find cash flow just about anywhere. It all depends on what price point you are looking at, what your risk tolerance is and how much you are willing to put down. I have been researching markets for a long time and thru my success and failure I have come to learn that the properties themselves and finding someone to help you if you are investing out of area are really secondary to researching a good market that fits your long term goals.
Every market is going to offer something a little different whether it is good opportunity in SFR or multifamily or good opportunity for short term investing while others are good for long term investing. You really have to know what your expectations from investing are and then find a market and/or strategy that fits those goals.
Good luck with your investing - Chris
Thanks Chris ,
-I am flexible on price point from $20K to $400K or may be higher depending on how attractive the investment is,
-I am conservative, long term buy and hold type of investor, want STABLE tenants,
-flexible on financing, may do all cash for out of state properties depending on the numbers etc,
-am hoping for about 10% or more return on my cash investment,
-prefer multi family in order to take advantage of economies of scale,
-I understand the appeal of these low cost ($20-$30K) homes, but if it means having to purchase 10 of these homes and deal with 10 different tenants in order to generate say $30K cash flow per year (hypothetical number), then I think it may not be appropriate for me.
- The maximum number of tenants I would like to deal with is probably 4 at most, are there any 3 or 4-family homes that can generate $30K-$40K or more a year in cash?
-Nothing in my area CF, so I am open to out of state properties.....