Updated about 9 years ago on . Most recent reply
Which is better? Small town MU or big city
I'm a newbie as well looking for MFU. I live in Atlanta but trying to buy a MFU in Bloomington IL. I have a condo in chicago thats managed by a mgmt company but it seems like MFU might need more attention. Can someone share their experiences about buying in a smaller city which is out of state? My reason for looking for opportunities in Bloomington is that the units here seem to have a better cap ratio.
Most Popular Reply
@Navdeep Bajwa There are too many missing parameters in your question to answer.
Is it a small multifamily property or a large one. HUGE difference with remote investing in a 12 units vs. owning a 200 units in another state.
As for small town properties, I personally love secondary markets because I'm a long term buy & hold and secondary markets usually weather the down turn better than inner city properties (on the flip side they don't see as much appreciation either).
I would highly recommend you do your homework on the town economy, main employers and driving forces in the jobs market in and around that town.