Multi Family out of state from California

7 Replies

Whats up guys my name is Alex I build, flip and hold some single families in Houston, TX. Living in California is great to build and flip when times are certain and rolling. I have been pivoting towards multi family as This is my long term play.

Who is in the Los Angeles area that invest out of state on Multi family apartments? Lets connect and pick each others brains about multi fam investing. Im currently looking in Texas. Looking to acquire 14 + Units to get things moving along.

A bit about my self also I own a flooring and construction company in Los Angeles and Houston Texas. Been in the housing / construction industry my whole life.

Hi Alexander I used to flips in LA as well.   I now own a building in Kansas City and Oklahoma City.   Happy to connect to see if we could have any synergies.   

@Alexander Parada you've got a solid background to make this work in any market!  Well done on the steps you've taken to grow a business that is not constrained by the market you live in at the time.

as @Jonathan Barr alluded to above, markets like Kansas City, Oklahoma City, Tulsa, and to a degree Little Rock typically perform well, are considered "linear" markets instead of the cyclical beasts that LA, San Fran, NYC and many other markets are.  

Another thing I'll add . . . In markets in the "midwestish" and south that experienced building booms in the '70s you'll find many opportunities to renovate buildings, often in decent locations.  With markets that have historically lagged but as of late are experiencing high growth, there tend to me more new construction opportunities, which will allow you to attract a different tenant class usually.

OKC u later!

Thanks for the info Will. I'm not an investor from California but I am looking to buy multifamily properties in the midwest and south east area. 



Originally posted by @Will Fraser :

@Alexander Parada you've got a solid background to make this work in any market!  Well done on the steps you've taken to grow a business that is not constrained by the market you live in at the time.

as @Jonathan Barr alluded to above, markets like Kansas City, Oklahoma City, Tulsa, and to a degree Little Rock typically perform well, are considered "linear" markets instead of the cyclical beasts that LA, San Fran, NYC and many other markets are.  

Another thing I'll add . . . In markets in the "midwestish" and south that experienced building booms in the '70s you'll find many opportunities to renovate buildings, often in decent locations.  With markets that have historically lagged but as of late are experiencing high growth, there tend to me more new construction opportunities, which will allow you to attract a different tenant class usually.

OKC u later!

 

@Will Fraser I second what Will is saying. There are some smaller midwest markets that are really strong for sfr and smaller multi family units. For my long term strategies its been best return on my investment. I'm a very hands on investor though and those investment outside of their area the Midwest markets might not be ideal. I've found stretching outside of my immediate market which, would require outside property management, I've found quality pm's has been difficult to find.

@Alexander Parada Multi-family is a nice niche to attack. I'm not sure about in Texas or California but my guess is it's expensive there hence the reason for the out of state inquiry. It is definitely not too expensive in our market here in Kc especially compared to the states mentioned. My advice with any out of state investing is to make sure you have a good team on the ground. If you have a solid team, agent, property manager and G.C. for example then I think anyone can be successful. If you or @Abraham Kaplan ever have any questions about our market feel free to reach out anytime. I wish you all success with all your investment endeavors.

Happy to connect! We invest in CA, AZ, CO, TX, and moving into other markets as well.

Originally posted by @Alexander Parada :

Whats up guys my name is Alex I build, flip and hold some single families in Houston, TX. Living in California is great to build and flip when times are certain and rolling. I have been pivoting towards multi family as This is my long term play.

Who is in the Los Angeles area that invest out of state on Multi family apartments? Lets connect and pick each others brains about multi fam investing. Im currently looking in Texas. Looking to acquire 14 + Units to get things moving along.

A bit about my self also I own a flooring and construction company in Los Angeles and Houston Texas. Been in the housing / construction industry my whole life.

 

I'd echo everything that Will mentioned above. The only thing I'd add would be to say that once you get your markets narrowed down, pull the trigger on the team you like (more than the market). The team is who will carry you through the market shifts, contractor hiccups, tenant disasters, and stellar finds. 

I see so many people fall in love with a market and assume all teams are created equal. I cant stress the importance of avoiding that oversight!