show me a multi-family meeting 2% rule

[Maria D'Aura]

I've been looking at multi-family properties where I live in CA and out of state. I haven't found a single one listed for sale that meets the 2% rule. Do they exist? I'd love a link to one of these unicorns just to see it's a real thing. Or maybe I'm missing something? 

[Joe Splitrock]

Are you looking for a quality property in a good location with appreciation potential or are you looking for high cash flow? 

You can probably find 2% properties in places like Detroit or Cleveland, but keep in mind both those cities have seen significant population declines over the last 30 years. Less demand for housing drives prices down, which drives rental yields higher. Many of these properties are in rough neighborhoods and the properties are in disrepair. You are basically maintaining them at minimal level and sucking the cash flow. If that is what you are looking for, it can be found.

If you are looking for high quality properties in growing locations that meet the 2% rule, you are looking for a needle in a haystack.