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?
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.
This post has been removed.
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing