Top 5 best multi family markets

Multi-Family and Apartment Investing
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Top 5 best multi family markets

Patrick Flanagan
Property Manager · Prineville, OR · Member since 2016 · 261 posts · 166 votes

In your opinion what are your top 5 real estate markets to purchase multi family (2-4 unit) homes.

I really like

Knoxville

Minneapolis

Birmingham

Phoenix

Kansas City, Mo

St. Louis

San Antonio(don’t like the property taxes) 

(There’s 7 of mine)

Let me know what your top markets are and if you’re investing in those areas

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Jeffrey Donis
Investor · Durham, NC · Member since 2020 · 1k+ posts · 691 votes
5y

the Triangle NC market is hot right now! Lots of businesses moving here and it's been developing rapidly over the past few years.

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  • Patrick Flanagan
    OP
    Property Manager · Prineville, OR · Member since 2016 · 261 posts · 166 votes
    5y

    @Sarah Waterman

    Agree thanks for your comments

    0Reply
  • Patrick Flanagan
    OP
    Property Manager · Prineville, OR · Member since 2016 · 261 posts · 166 votes
    5y

    @Ken Gee

    Ken great info!

    I’m going to send you a message

    0Reply
  • Tucker Cummings
    Investor · Raleigh, NC · Member since 2019 · 433 posts · 743 votes
    5y

    @Patrick Flanagan

    All of my investments are in one city, Fayetteville, NC. It's fantastic for cash flow. But I'm looking for additional markets to start spreading out to, which is why I asked what kind of data you might have. I'll definitely do some more research on these markets, I appreciate the post and response!

    2Reply
  • Patrick Flanagan
    OP
    Property Manager · Prineville, OR · Member since 2016 · 261 posts · 166 votes
    5y

    @Tucker Cummings

    Oh awesome, I’m in the same boat. Let’s connect!

    0Reply
  • Stephen SchmittBusiness Member
    Real Estate Agent · Liverpool, NY · Member since 2019 · 111 posts · 72 votes
    5y

    @Hai Loc not necessarily, I would say I have one in a c+, one c and one c-.

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    1Reply
  • Jackson Malcolm
    Property Manager · Chattanooga, TN · Member since 2020 · 18 posts · 18 votes
    5y
    Originally posted by @Joshua McMillion:

    @Patrick Flanagan

    What are your thoughts on Chattanooga? 

    Sincerely,

    Josh 

    Hey Josh, if you have any questions about investing in the Chattanooga market I'd be happy to assist. Feel free to shoot me a PM!

    2Reply
  • Andrew SyriosPro Member
    Moderator
    Residential Real Estate Investor · Kansas City, MO · Member since 2014 · 10k+ posts · 5k+ votes
    5y
    Originally posted by @Stanley Kutsovsky:

    @Andrew Syrios

    Do you feel these markets are overpriced?

     I feel like real estate in general is overpriced, although I'm hesitant about making any predictions as I've been anticipating a correction since 2018. KC and the like are no more overpriced (and probably less so) than most other markets.

    Podcast Guest on Show #121
    1Reply
  • Charles Dobens
    Duxbury, MA · Member since 2011 · 84 posts · 67 votes
    5y

    It's interesting that Kansas City keeps coming up on people's radar. I have several clients who are having great success in KC. When I help them evaluate the deals, the numbers always look good. I did a podcast a while back with Steve Worcester who ultimately owned 3,000 units in KC starting from nothing. He sold out to his brothers and started a multifamily service-related business called Simplifyy that any MF owner/operator should check out. 

    1Reply
  • Patrick Flanagan
    OP
    Property Manager · Prineville, OR · Member since 2016 · 261 posts · 166 votes
    5y

    @Charles Dobens

    Great info! What is your podcast called?

    0Reply
  • Link Moser
    Real Estate Agent · Loudon, NH · Member since 2011 · 15 posts · 7 votes
    5y
    I'm New Hampshire and want to find my first investment property. I agree with the idea of sticking close to home but not sure what criteria to look for as I search. It seems like NH (New England in general) is not the greatest market to be in. Our property taxes are some of the highest in the country but like others have said, I'm hesitant to cut my teeth on something too far away, at least with the first out of the gate. Single family or multi?
    1Reply
  • Dillon Cook
    Realtor · Greater Tampa Bay · Member since 2014 · 219 posts · 130 votes
    5y

    @Patrick Flanagan

    You're going to get a different answer to this question from every agent!

    Tampa rents and property values are increasing alarmingly fast with a craze of out of state investors and home buyers.

    Get a slice of Florida appreciation. Won't cash flow like the Midwest, but you'll more than make up the difference when you sell in 5-10 years.

    1Reply
  • Patrick MaddenPro Member
    Rental Property Investor · Brooklyn, NY · Member since 2020 · 1 post · 1 vote
    5y

    @Alice Moore I used joe pierce on a couple houses but I'm not sure if he's still an agent. He was easing into more investing and less selling last I talked to him. Sean Corcoran is a property manager but he listed one of my rentals earlier this year

    1Reply
  • Ken Kirunda
    Rental Property Investor · cambridge, MA · Member since 2016 · 16 posts · 5 votes
    5y

    @Patrick Flanagan

    Those are nice markets.

    I like Atlanta, Lakeland, Orlando, new castle , and Houston

    3Reply
  • Patrick Flanagan
    OP
    Property Manager · Prineville, OR · Member since 2016 · 261 posts · 166 votes
    5y

    @Patrick Madden

    Thanks for the information Pat!

    0Reply
  • Patrick Flanagan
    OP
    Property Manager · Prineville, OR · Member since 2016 · 261 posts · 166 votes
    5y

    @Ken Kirunda

    Thanks for responding Ken,

    I like your list! I wish Texas wasn’t so high in property taxes

    0Reply
  • Patrick Flanagan
    OP
    Property Manager · Prineville, OR · Member since 2016 · 261 posts · 166 votes
    5y

    @Dillon Cook

    I totally agree!

    But I mean how can you argue the awesome Florida weather too! Haha

    I’d love to learn more about investing out there

    1Reply
  • Jackson Babcock
    Investor · Charleston, SC · Member since 2021 · 120 posts · 108 votes
    5y

    We like the Carolina's.  There are multiple hot MSA's in North and South Carolina.   

    1Reply
  • Mike Lorence
    Rental Property Investor · Boca Raton, FL · Member since 2019 · 70 posts · 42 votes
    5y

    I picked up my entire life and moved to Florida so that we can invest locally in Florida multifamily.  I believe in the market that much.  We considered Dallas, Phoenix, etc but it's possible that they won't have the long run population and job growth that will match the I-4 corridor in central FL.  Best areas in Florida for job and population growth AND value add workforce housing investing are: Tampa, Orlando, Lakeland, Ocala, Gainesville, Tallahassee, and Gainesville.  I'm not saying Florida is the best.  But it was good enough for me to bet the farm on it.  Should I do a podcast on this thread to go deeper on it?

    5Reply
  • Clay Lehman
    Member since 2018 · 107 posts · 92 votes
    5y

    I would listen to the podcast. Those are definitely strong markets.  Happy to connect to provide boots on the ground input from an Ocala investor, realtor and property manager.  Also, I admire your commitment.  Welcome to Florida!!

    3Reply
  • Wale LawalBusiness Member
    Real Estate Broker · Houston | Dallas | Austin, TX · Member since 2018 · 5k+ posts · 2k+ votes
    5y

    @Patrick Flanagan Every market has its Ups and Downs.

    You may want to consider Houston, Texas in your research to see if it check your investment criteria.

    Goodluck 

    [email protected]832-776-9582Podcast Guest on Show #469
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    2Reply
  • Forrest Faulconer
    Real Estate Agent · Oklahoma City, OK · Member since 2020 · 471 posts · 462 votes
    5y

    I agree with @Sarah Waterman, anywhere you can find something at a decent price in this market.

    1Reply
  • Patrick Flanagan
    OP
    Property Manager · Prineville, OR · Member since 2016 · 261 posts · 166 votes
    5y

    @Jackson Babcock

    Thank you and thank you for responding!

    0Reply
  • Patrick Flanagan
    OP
    Property Manager · Prineville, OR · Member since 2016 · 261 posts · 166 votes
    5y

    @Mike Lorence

    Yes please!!

    0Reply
  • Patrick Flanagan
    OP
    Property Manager · Prineville, OR · Member since 2016 · 261 posts · 166 votes
    5y

    @Clay Lehman

    Great thank you Clay!

    0Reply
  • Patrick Flanagan
    OP
    Property Manager · Prineville, OR · Member since 2016 · 261 posts · 166 votes
    5y

    @Wale Lawal

    Do you think property taxes are low enough to make sense??

    Thank you for responding

    0Reply
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