Looking for advice of muti unit investing
Member since 2023 · 13 posts · 6 votes
Looking for advice of muti unit investing
Most Popular Reply
Rental Property Investor · Columbus, OH · Member since 2017 · 3k+ posts · 3k+ votes
2yQuote from @Matt Soares:
Sold my home in San Diego and paid off my debt. Have about 60k to invest. Thinking of multi-unit and I will live in one of the units and rent out the rest. I don't have a location yet but considering somewhere in the mid-west. I'm completely new to this. Any advice would help.
You should check out Columbus or Cincinnati. Your money will go very far, you'd be able to pick up a multifamily portfolio and start your cash flow. Not to mention Ohio is a landlord-friendly state.
24 Replies
- Investor · Member since 2022 · 235 posts · 127 votes2y
@Matt Soares sounds like you have a great goal in mind. If you're not okay leaving CA and still want to invest there are options for getting into small multi-family with that amount of avail capital in the midwest.
If you are looking to house hack then I think it really comes down to where do you want to live? Ohio, Arkansas, Iowa, Tennessee would all present options.
- Investor / Mentor / Contractor · Arcadia, CA Buying Out of State · Member since 2015 · 654 posts · 622 votes2y
You'll need to invest out-of-state of course. Remember that everything outside California is relatively cheap. So don't just look for cheap or cash flow positive. What you need is a growth market. You need to see progress and growth coming to the market, or you could be wasting time in a stagnant market or even worse a declining one. I've seen many Cali investors do this. Also, if everyone is talking about a booming market for the past 3 years its probably too late.
- Realtor · Southern Maine · Member since 2020 · 24 posts · 19 votes2y
Lots of people from California are moving to southern Maine - Greater Portland Area. Really great place to invest given the close proximity to Boston (1.5hr drive) NYC (45 minute flight). I've traveled across the U.S throughout my previous line of work and have yet to find a better place to call my home base. You have the ocean, lakes, rivers, mountains, city, and just about everything else you could imagine. Winter is a bit of a stretch, but if you take a week and go somewhere warm, it's much more manageable.
Plenty of multis to invest in.
- Rental Property Investor · Columbus, OH · Member since 2017 · 3k+ posts · 3k+ votes2y
Quote from @Matt Soares:
Sold my home in San Diego and paid off my debt. Have about 60k to invest. Thinking of multi-unit and I will live in one of the units and rent out the rest. I don't have a location yet but considering somewhere in the mid-west. I'm completely new to this. Any advice would help.
You should check out Columbus or Cincinnati. Your money will go very far, you'd be able to pick up a multifamily portfolio and start your cash flow. Not to mention Ohio is a landlord-friendly state.
- 2yRyan IrwinPro MemberInvestor · Ankeny, IA · Member since 2022 · 158 posts · 129 votes
Quote from @Ali Nichols:
@Matt Soares sounds like you have a great goal in mind. If you're not okay leaving CA and still want to invest there are options for getting into small multi-family with that amount of avail capital in the midwest.
If you are looking to house hack then I think it really comes down to where do you want to live? Ohio, Arkansas, Iowa, Tennessee would all present options.
Hey Matt, I agree with Ali. I'm in Iowa and currently under contract for a duplex in rural Iowa at 140K. It needs some work, but this is an example of a live-in house hack/BRRRR. Certainly can stretch that West Coast dollar and don't be fooled, there is absolutely still appreciation here, just not the swings that you see in the coasts.
- 2yRobert EllisBusiness MemberDeveloper · Miami, FL · Member since 2014 · 3k+ posts · 1k+ votes
Quote from @Matt Soares:
Sold my home in San Diego and paid off my debt. Have about 60k to invest. Thinking of multi-unit and I will live in one of the units and rent out the rest. I don't have a location yet but considering somewhere in the mid-west. I'm completely new to this. Any advice would help.
That's a smart move to consider a multi-unit strategy for your investment! The Midwest can offer some great opportunities. Places like Columbus, OH have a growing rental market. I'd recommend connecting with local agents and property managers for insights on potential areas. They can help guide you based on your goals.
Section 8 Launch52 Reviews - 2yJimmy LieuBusiness MemberReal Estate Agent · Columbus, OH · Member since 2019 · 3k+ posts · 2k+ votesHi Matt, I moved to Columbus a few years ago (from Portland, Oregon which was super expensive) to become a full time real estate investor, and ever since, I've completed quite a lot of BRRRRs, flips, and own a successful rental portfolio here in Columbus Ohio. There's so many catalysts for population and job growth (Intel, Honda, Amazon, Nationwide Hospital, etc). I can definitely tell you there's still a lot of positive cash flowing and 1% rule deals and you get amazing appreciation. As an investor and agent here in Columbus Ohio, if you have any questions or want to connect, definitely reach out!
Quote from @Matt Soares:
Sold my home in San Diego and paid off my debt. Have about 60k to invest. Thinking of multi-unit and I will live in one of the units and rent out the rest. I don't have a location yet but considering somewhere in the mid-west. I'm completely new to this. Any advice would help.
Jimmy Lieu, Red 1 Realty4.9119 Reviews - 2ySam McCormackBusiness MemberReal Estate Agent · Cincinnati, OH/NKY · Member since 2021 · 1k+ posts · 833 votes
Quote from @Matt Soares:
Sold my home in San Diego and paid off my debt. Have about 60k to invest. Thinking of multi-unit and I will live in one of the units and rent out the rest. I don't have a location yet but considering somewhere in the mid-west. I'm completely new to this. Any advice would help.
Hey Matt, Ohio is a good market to look in. I am in Cincinnati. Properties around 250k are common here, and with that 60k is a good price to be at. Let me know if Cincinnati is a market that interests you!
Sam McCormack Realtor - Member since 2023 · 13 posts · 6 votes2y
Quote from @Ali Nichols:
@Matt Soares sounds like you have a great goal in mind. If you're not okay leaving CA and still want to invest there are options for getting into small multi-family with that amount of avail capital in the midwest.
If you are looking to house hack then I think it really comes down to where do you want to live? Ohio, Arkansas, Iowa, Tennessee would all present options.
- Member since 2023 · 13 posts · 6 votes2y
Quote from @Ali Nichols:
@Matt Soares sounds like you have a great goal in mind. If you're not okay leaving CA and still want to invest there are options for getting into small multi-family with that amount of avail capital in the midwest.
If you are looking to house hack then I think it really comes down to where do you want to live? Ohio, Arkansas, Iowa, Tennessee would all present options.
Hi Ali,
Thank you for the advice. I've been looking around Cincinnati & Colobus Ohio so far. Haven't checked out Ark, Iowa or Tenn yet. What cities in those states could you recommend?
- Member since 2023 · 13 posts · 6 votes2yYes definitely. With the amount of money, I have it's the only option. Thnak you.
Quote from @Tim Ryan:
You'll need to invest out-of-state of course. Remember that everything outside California is relatively cheap. So don't just look for cheap or cash flow positive. What you need is a growth market. You need to see progress and growth coming to the market, or you could be wasting time in a stagnant market or even worse a declining one. I've seen many Cali investors do this. Also, if everyone is talking about a booming market for the past 3 years its probably too late.
- Member since 2023 · 13 posts · 6 votes2y
Quote from @Matt Soares:
Yes definitely. With the amount of money, I have it's the only option. Thank you.Quote from @Tim Ryan:
You'll need to invest out-of-state of course. Remember that everything outside California is relatively cheap. So don't just look for cheap or cash flow positive. What you need is a growth market. You need to see progress and growth coming to the market, or you could be wasting time in a stagnant market or even worse a declining one. I've seen many Cali investors do this. Also, if everyone is talking about a booming market for the past 3 years its probably too late.
- Member since 2023 · 13 posts · 6 votes2y
Quote from @Dominik Porobic:
Lots of people from California are moving to southern Maine - Greater Portland Area. Really great place to invest given the close proximity to Boston (1.5hr drive) NYC (45 minute flight). I've traveled across the U.S throughout my previous line of work and have yet to find a better place to call my home base. You have the ocean, lakes, rivers, mountains, city, and just about everything else you could imagine. Winter is a bit of a stretch, but if you take a week and go somewhere warm, it's much more manageable.
Plenty of multis to invest in.
Hi Dominick, I have not even considered Maine. What cities could you recommend with market growth?
- Member since 2023 · 13 posts · 6 votes2y
Quote from @Steven Foster Wilson:
Quote from @Matt Soares:
Sold my home in San Diego and paid off my debt. Have about 60k to invest. Thinking of multi-unit and I will live in one of the units and rent out the rest. I don't have a location yet but considering somewhere in the mid-west. I'm completely new to this. Any advice would help.
You should check out Columbus or Cincinnati. Your money will go very far, you'd be able to pick up a multifamily portfolio and start your cash flow. Not to mention Ohio is a landlord-friendly state.
Most people are recommending Ohio. I do see a lot of opportunities out there for the amount of money I have to invest. I appreciate your advice.
- Member since 2023 · 13 posts · 6 votes2y
Quote from @Ryan Irwin:
Quote from @Ali Nichols:
@Matt Soares sounds like you have a great goal in mind. If you're not okay leaving CA and still want to invest there are options for getting into small multi-family with that amount of avail capital in the midwest.
If you are looking to house hack then I think it really comes down to where do you want to live? Ohio, Arkansas, Iowa, Tennessee would all present options.
Hey Matt, I agree with Ali. I'm in Iowa and currently under contract for a duplex in rural Iowa at 140K. It needs some work, but this is an example of a live-in house hack/BRRRR. Certainly can stretch that West Coast dollar and don't be fooled, there is absolutely still appreciation here, just not the swings that you see in the coasts.
This is my goal. House hacking is most likely the way to go for me. Thank you!
- Member since 2023 · 13 posts · 6 votes2y
Quote from @Robert Ellis:
Quote from @Matt Soares:
Sold my home in San Diego and paid off my debt. Have about 60k to invest. Thinking of multi-unit and I will live in one of the units and rent out the rest. I don't have a location yet but considering somewhere in the mid-west. I'm completely new to this. Any advice would help.
That's a smart move to consider a multi-unit strategy for your investment! The Midwest can offer some great opportunities. Places like Columbus, OH have a growing rental market. I'd recommend connecting with local agents and property managers for insights on potential areas. They can help guide you based on your goals.
Thank you.
- Member since 2023 · 13 posts · 6 votes2y
Quote from @Jimmy Lieu:
Hi Matt, I moved to Columbus a few years ago (from Portland, Oregon which was super expensive) to become a full time real estate investor, and ever since, I've completed quite a lot of BRRRRs, flips, and own a successful rental portfolio here in Columbus Ohio. There's so many catalysts for population and job growth (Intel, Honda, Amazon, Nationwide Hospital, etc). I can definitely tell you there's still a lot of positive cash flowing and 1% rule deals and you get amazing appreciation. As an investor and agent here in Columbus Ohio, if you have any questions or want to connect, definitely reach out!Quote from @Matt Soares:
Sold my home in San Diego and paid off my debt. Have about 60k to invest. Thinking of multi-unit and I will live in one of the units and rent out the rest. I don't have a location yet but considering somewhere in the mid-west. I'm completely new to this. Any advice would help.
Hi Jimmy, I'd definitely like to connect with you. It's looking like Columbus or Cincinnati is where I will call home base. Look forward to hearing back and connecting with you. I'm very new to investing and Bigger Pockets. Thank you!
- Member since 2023 · 13 posts · 6 votes2yHi Sam, yes, it's looking like Cincinnati or possibly Columbus is the way to go for me. I definitely would like to connect with you. Look forward to hearing from you. Thank you!
Quote from @Sam McCormack:
Quote from @Matt Soares:
Sold my home in San Diego and paid off my debt. Have about 60k to invest. Thinking of multi-unit and I will live in one of the units and rent out the rest. I don't have a location yet but considering somewhere in the mid-west. I'm completely new to this. Any advice would help.
Hey Matt, Ohio is a good market to look in. I am in Cincinnati. Properties around 250k are common here, and with that 60k is a good price to be at. Let me know if Cincinnati is a market that interests you!
- Real Estate Agent · Columbus | Toledo · Member since 2019 · 607 posts · 768 votes2yInvest in the wonderful town of Columbus, OH. Home to The Ohio State University with nearly 60,000 students, 5 Fortune 500 companies, over +25% population change since 2000, and the 2016 smart city challenge award winner (https://www.columbus.gov/smartcity/). Furthermore, Intel is spending 20 Billion dollars to build two semiconductor plants, and many more great things presently and coming in the future. Needless to say, Columbus will remain a strong real estate market for the foreseeable future.
Quote from @Matt Soares:
Sold my home in San Diego and paid off my debt. Have about 60k to invest. Thinking of multi-unit and I will live in one of the units and rent out the rest. I don't have a location yet but considering somewhere in the mid-west. I'm completely new to this. Any advice would help.
- 2yRobert EllisBusiness MemberDeveloper · Miami, FL · Member since 2014 · 3k+ posts · 1k+ votes
Quote from @Matt Soares:
Hi Sam, yes, it's looking like Cincinnati or possibly Columbus is the way to go for me. I definitely would like to connect with you. Look forward to hearing from you. Thank you!Quote from @Sam McCormack:
Quote from @Matt Soares:
Sold my home in San Diego and paid off my debt. Have about 60k to invest. Thinking of multi-unit and I will live in one of the units and rent out the rest. I don't have a location yet but considering somewhere in the mid-west. I'm completely new to this. Any advice would help.
Hey Matt, Ohio is a good market to look in. I am in Cincinnati. Properties around 250k are common here, and with that 60k is a good price to be at. Let me know if Cincinnati is a market that interests you!
I'd recommend looking at deals in both markets and seeing if the numbers work. You have to get an expert in either area and I haven't seen a lot of people from Cincinnati on BP. Good example, at least 2-3 agents I know are going to BP con 2023 and none to my knowledge have posted about going from Cincinnati.
Section 8 Launch52 Reviews - Insurance Agent · Sioux City · Member since 2020 · 83 posts · 41 votes2y
Des Moines and Sioux Falls both growing FAST and both in landlord friendly states. SD no state income tax and Iowa on a gradual reduction, hopefully all the way to zero as well!
- Realtor · Southern Maine · Member since 2020 · 24 posts · 19 votes2y
Quote from @Matt Soares:
Quote from @Dominik Porobic:
Lots of people from California are moving to southern Maine - Greater Portland Area. Really great place to invest given the close proximity to Boston (1.5hr drive) NYC (45 minute flight). I've traveled across the U.S throughout my previous line of work and have yet to find a better place to call my home base. You have the ocean, lakes, rivers, mountains, city, and just about everything else you could imagine. Winter is a bit of a stretch, but if you take a week and go somewhere warm, it's much more manageable.
Plenty of multis to invest in.
Hi Dominick, I have not even considered Maine. What cities could you recommend with market growth?
I think if you look at Biddeford, Maine and what is happening there, it will have a similar trajectory to Portland, Maine which has already become pretty pricey for the average local. It is the youngest city in Maine now and there's lots of development in the works.
- Member since 2023 · 13 posts · 6 votes2y
Quote from @Ali Nichols:
@Matt Soares sounds like you have a great goal in mind. If you're not okay leaving CA and still want to invest there are options for getting into small multi-family with that amount of avail capital in the midwest.
If you are looking to house hack then I think it really comes down to where do you want to live? Ohio, Arkansas, Iowa, Tennessee would all present options.
- Real Estate Investor · Chico, CA · Member since 2016 · 248 posts · 105 votes2y
Do you want to live in the mid west? Upstate new York has some great deals and you can take the train to the city still. Palmdale Lancaster has a few multi units that would cash flow. There’s always Texas. Maine has come and gone but still a safe investment. The Carolinas and Virginia are cheap cheap in much of the state.
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