New to investing - interested in multi-family rentals

3 Replies

Hi everyone,

I've finally saved up to make a down payment on an investment property. (I'm an accidental landlord already!). I'm interested in multi-family buy and hold strategy for now. Something that is professionally managed but still leaves some positive cash-flow. How are you guys finding deals to invest in? Where do you go to start your search? In NJ, these deals seem to be virtually non-existent. So, I'm open to investing almost anywhere in the country. So far I looked at Philadelphia, Dallas, Raleigh (mostly on loopnet). What do you recommend in terms of long-distance, hands-off type of investing? Is this even doable or am I sounding crazy? 

Thanks!

Hey @Praful S. ,

Philadelphia seems like a good option for you with you living in NJ. Philly offers a lot of good cash-flowing opportunities and it would still only be at most 2 hours away from you to visit on weekends if needed. In order to successfully invest from out of state I recommend aligning yourself with a good team (real estate agent, property manager, contractor if needed, etc). 

I too am looking to invest in Philadelphia. It looks like I may be moving to Philly and I am interested in getting some cashflow going while starting my new job. I would like to start putting together a team here if even JV with someone.

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