Updated over 5 years ago on . Most recent reply
Multi-Unit Investment 2-4
Hello! My husband and I are looking to purchase our first investment property. We are not from IL but I am currently stationed here with the military. I wanted to know where good areas are to invest with a steady cash flow. We really want a 3-4 unit but if the price is right and the cash flow is right we would settle for a 2 unit. We have also considered getting something we can fix up on our own but is still livable. Any feedback or recommendations would greatly be appreciated. We have two small children so a safer neighborhood or an up and coming place would be ideal.
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#2 Managing Your Property Contributor
- Real Estate Agent
- Buffalo, NY
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#2 Managing Your Property Contributor
- Real Estate Agent
- Buffalo, NY
@Naomi Beach every area has a variety of places to invest. Low income areas can have higher returns but more risk. And great areas to invest can have a chance for appreciation, great rental demand, and great tenants but, lower returns and may not cover all of your expenses.
I would clarify what your investment goal and risk tolerance is. Most investors tend to want to be in the middle of an asset purchase and a high risk high cash on cash return. Although I know some that go 100% on each end of the spectrum.
After you decide what your goals are I would track down an investor friendly agent. You can also call local Property management companies to ask some of those questions. You can give your list of wants to an agent and he/she should be able to put some options in front of you, as well as help with line item calculations.
Good luck!!!
- Matthew Irish-Jones
