Hey All,

I am looking to purchase a multi-family in 2021 and I live in NJ so everything is very pricey up here. So I want to start looking on a national level. Which states do you think I’ll get the most bang for my buck ? I want as many units as I can get for $1,000,000 MAX. Look forward to the discussion :)

Nicole,

If your talking about a commercial multi-family 5+ units I would say stick with NJ. Unless you are paying 50%-100% cash the lender will want you to have landlord seasoning. Along with majority require that the property be within your geographical area to reduce the manageability risk. Some allow for a management company to supersede that requirement but again usually with a higher DP. If your looking for a 2-4 unit than it really doesn't matter where you but aside from rent schedule and rental market demand.

Have you been pre-approved by a bank/lender yet to see what your options are as far as terms.  

I invest in Kansas City and Oklahoma City and so far they have been good to me.

Most Midwest markets are awesome. KC is growing crazy but good returns too. Happy to chat 

Carolinas are still good for investment in certain parts. If you mean $1,000,000 in capital vs $1,000,000 levered that'll make a big difference in terms of what you look for. I would caution against going for purely the most units you can get, that could be a recipe for buying something blighted in a less desirable part of town.

Originally posted by @Jonathan Barr :

I invest in Kansas City and Oklahoma City and so far they have been good to me.

 What size multifamily are you buying?

@Joe S.

50+ units to hundred plus.