500k-600K Triplex or Quad Multi Family Property

4 Replies

All - I am a first time investor looking to invest in a triplex or 4 plex out of CA. I have been researching areas outside CA and would appreciate good rental/cash flow areas that you can recommend outside state. Hoping to use prop management since its outside state and I am looking for a decent cash flow with less maintenance. Truly appreciate any feedback into specific areas and states I could target.

My list - 

1) Chicago 60614,60618

2) Columbus , Ohio

3) Tucson , Arizona

4) Memphis ,Tennessee

5) Tampa, St Petersburg

6) Dallas , Texas

Thanks - Madhu

Originally posted by @Madhu Kolli :

All - I am a first time investor looking to invest in a triplex or 4 plex out of CA. I have been researching areas outside CA and would appreciate good rental/cash flow areas that you can recommend outside state. Hoping to use prop management since its outside state and I am looking for a decent cash flow with less maintenance. Truly appreciate any feedback into specific areas and states I could target.

My list - 

1) Chicago 60614,60618

2) Columbus , Ohio

3) Tucson , Arizona

4) Memphis ,Tennessee

5) Tampa, St Petersburg

6) Dallas , Texas

Thanks - Madhu

 I think that is a solid list. The only change I would make is to switch #1 with #2.

It does not matter where you start as long as you develop your Core 4. The core 4 is David Greene’s strategy for long-distance and made up of a realtor, contractor, property manager, and lender. Once you have this team in place, you should be able to confidently invest in any market.

As for picking a specific market - I would go after one with an increasing job and population growth. I invest and work in Columbus, Ohio.

Hi @Madhu Kolli Im an investor/agent in the Tampa area. We can definitely make that happen no problem at all in this area. Tampa and FL are great as a year round sunny place and we dont have state tax. On top of our very diverse economy and our winning of both the superbowl and stanley cup, theres no better place to invest. Since I invrst myself i do have connections for your core 4 as others have mentioned. Send me a message and we can talk more if you think Tampa is a good fit

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