Just joined recently. I am based in San Jose CA., which is a very expensive market as you all know. Looking for a bit of investment advice as to which areas are good to buy 4plex or single family 2-3 bedroom house with some positive cash flow. Can put down a downpayment. Trying to find advice from people who have done it recently and how exp. has been. How to find a property manager since it is going to be out of state investment.
Investor · San Rafael · Member since 2020 · 376 posts · 274 votes
4y
Hey @Sanjay Sharma welcome to BiggerPockets and congratulations on doing the work and reaching out.
Have you narrowed it down to any out-of-state market? There are just so many out there with so many different variables and so many things to consider, things that are personal to you, etc. It is not as simple as “where’s a good market for a 4-plex?”. What are your investment goals? What are your return goals?
We exclusively do out-of-state investing, so I am happy to share our experience, knowledge, tools, tips, and tricks if you are interested in chatting more. do not hesitate to reach out, connect, and DM me.
As they like to say: live where you want, invest where it makes sense.
Hey @Sanjay Sharma welcome to BiggerPockets and congratulations on doing the work and reaching out.
Have you narrowed it down to any out-of-state market? There are just so many out there with so many different variables and so many things to consider, things that are personal to you, etc. It is not as simple as “where’s a good market for a 4-plex?”. What are your investment goals? What are your return goals?
We exclusively do out-of-state investing, so I am happy to share our experience, knowledge, tools, tips, and tricks if you are interested in chatting more. do not hesitate to reach out, connect, and DM me.
As they like to say: live where you want, invest where it makes sense.
Hi Nathan,
Thanks for your message. Yes, I understand that "4plex" is not a goal. I am looking to build eventually quality passive income, not an aggressive income strategy. Seems like you are also in the Bay Area, so as you know, this is not the area for investment in rental properties. Hence, looking for cities that are affordable to generate cash flow and have access to good quality of life in terms of access to jobs, schools, and infrastructure to attract good renters. Yes, we can chat. I will DM you.
Real Estate Coach · Venice Beach, CA · Member since 2012 · 6k+ posts · 3k+ votes
4y
What's your budget? And do you want a property that needs some work so you can add value, or do you want something turnkey/rent-ready? As far as 4plex or SFR which is better, really just depends on the area and the numbers.
This is a great forum with very knowledgeable members that will help to guide you in the right direction.
The site has quite a few tools that can be helpful for new members. For example, if you are looking to connect with other members near you, want to learn from people in a specific area you’d like to invest in, or have a desire to find people interested in certain topics, you could use the search feature here: https://www.biggerpockets.com/search/users
You can use scopeout.io to explore and narrow down some markets. Then connect with agents and property managers who can help you find deals that fit your needs.