Best places to invest

Multi-Family and Apartment Investing
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Best places to invest

Armand P.
New to Real Estate · San Mateo, CA · Member since 2015 · 127 posts · 12 votes

Hell all,

It's been a while since I've posted. I am new to real estate investing and have recently started watching video and seminars on here. I'm interested in investing in a multi-unit property out of state. My price range is between $100K-$150K in a C neighborhood, but prefer B if possible or realistic at price range. Any suggestions on states, cities or areas would greatly be appreciated. I've researched Indiana, WA, Arizona and a few in OH. 

Thank you!

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Rod Khleif
Investor · Sarasota, FL · Member since 2016 · 63 posts · 57 votes
8y

@Armand P.

Hi Armand, I'd also suggest looking at small residential properties 2 - 4 units. You can potentially find a small commercial property depending on the market.

If you're researching the whole country and very flexible with where you'll be investing I typically advise considering one of these four markets first if possible:

1. Your backyard (home) market

2. A place you know very well, often where you grew up

3. A place with boots on the ground (family, friends, etc.)

4. A place you'd like to vacation to/retire 

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  • Hadar OrkibiPro Member
    Rental Property Investor · USA / NZ · Member since 2016 · 1k+ posts · 812 votes
    8y

    wellcome back @Armand P.  looking for for mfr in good area at this price range would be small residential buildings 2-4 units.  The key point to start with is a market that can provide you with solid team in the ground. 

    It is the most important part when investing out of area.

    I personally invest in Arkansass and Florida. 

    0Reply
  • Rod Khleif
    Investor · Sarasota, FL · Member since 2016 · 63 posts · 57 votes
    8y

    @Armand P.

    Hi Armand, I'd also suggest looking at small residential properties 2 - 4 units. You can potentially find a small commercial property depending on the market.

    If you're researching the whole country and very flexible with where you'll be investing I typically advise considering one of these four markets first if possible:

    1. Your backyard (home) market

    2. A place you know very well, often where you grew up

    3. A place with boots on the ground (family, friends, etc.)

    4. A place you'd like to vacation to/retire 

    2Reply
  • Marc Middleton
    Residential Real Estate Broker · Miami, FL · Member since 2014 · 214 posts · 106 votes
    8y

    Rod - Great points! 

    For #3 - I would expand this to include a place where you know of a GREAT property manager. That is just as good as friends/family nearby, if not better. IF you have none of the 4 Rod mentioned, avoid that area. 

    Just my experience of helping investors over the years...

    (oh and if you have $150k to invest, only spend $120k or so. Leave yourself 15% for capital reserves in an account for a year)

    1Reply
  • Gino BarbaroPro Member
    Rental Property Investor · St Augustine, FL · Member since 2014 · 2k+ posts · 1k+ votes
    8y

    @Armand P.

    Hi Armand

    My partner Jake is always talking about the SEC (south eastern conference) to invest in. The southeast has the job growth, population growth, more favorable taxes, better cost of living.  Chattanooga, Knoxville, Louisville, Atlanta, all great places.  Columbus OH is also another great market, although many investors have figured that out and invested there.

    Good Luck

    Gino

    Podcast Guest on Show The “Conveyor Belt” System That’ll Build You a BIG Rental Portfolio Quickly
    1Reply
  • Ethan Henning
    Real Estate Agent · Atlanta, GA · Member since 2015 · 295 posts · 117 votes
    8y

    Atlanta is a great place to invest and there are many opportunities all throughout the city!

    0Reply
  • Todd Dexheimer
    Rental Property Investor · St. Paul, MN · Member since 2016 · 3k+ posts · 3k+ votes
    8y

    @Armand P. Here is my suggestions: https://www.biggerpockets.com/blogs/10145/68178-to...

    2Reply
  • Armand P.
    OP
    New to Real Estate · San Mateo, CA · Member since 2015 · 127 posts · 12 votes
    8y

    Hello,

    Thank you all for your responses and feedback. I really appreciate it! Every morning for the past few weeks I look at properties to do a brief 10 mins analysis to find out if it's worth digging into deeper. I found this Duplex in Phoenix AZ and based on my initial calculations the cash-flow + cash/cash NOI appears to be really good. Am I missing something? Here is the basic criteria (learned from watching video on BP) I use:

    https://www.zillow.com/homes/for_sale/Phoenix-AZ/fsba_lt/apartment_duplex_type/7690658_zpid/40326_rid/0-150000_price/0-605_mp/Duplex_att/pricea_sort/34.112941,-111.386261,33.096143,-112.862549_rect/9_zm/0_mmm/

    Income:

    Expenses:

    Tax

    Insurance

    Utilities:

    Repairs:

    Cap Ex

    P.M

    Mortgage:

    Misc: 

    Cash Flow:

    Cash/Cash NOI:

    0Reply
  • Robert EllisBusiness Member
    Developer · Miami, FL · Member since 2014 · 3k+ posts · 1k+ votes
    8y
    Originally posted by @Armand P.:

    Hell all,

    It's been a while since I've posted. I am new to real estate investing and have recently started watching video and seminars on here. I'm interested in investing in a multi-unit property out of state. My price range is between $100K-$150K in a C neighborhood, but prefer B if possible or realistic at price range. Any suggestions on states, cities or areas would greatly be appreciated. I've researched Indiana, WA, Arizona and a few in OH. 

    Thank you!

     Hi Armand -Columbus and Cincinnati Ohio are great places to invest.  Columbus has the Ohio State University graduating 6000+ students a year and as the state capitol, the 2nd city to be named as a "smart City" in the US and the amazing amount of growth and re-purposing of property, Columbus is on a fantastic trajectory. Cincinnati still has properties that are available with great returns and cash flow.  As the Columbus market becomes more saturated, a lot of investors are looking to Cincinnati as another place to invest.  Good luck with all! 

    [email protected]786-494-6766
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    1Reply
  • Account Closed
    Investor · LOUISVILLE, KY · Member since 2017 · 41 posts · 24 votes
    8y

    A viable alternative to Nashville's red hot market and similar second tier cities is Louisville, Kentucky. Steady population growth, solid local economy, developing central business district-- all new downtown convention center coming soon. 

    All good indicators for real estate investment. 

    1Reply
  • Joseph Ranola
    Real Estate Broker · Staten Island, NY · Member since 2017 · 101 posts · 43 votes
    8y
    Enjoyed reading all of this info! Not to hack this post but does anyone have any suggestions for more cities on the East Coast? Pennsylvania, New Jersey area specifically?
    0Reply
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