Rental Property Investor · Member since 2019 · 32 posts · 2 votes
I am currently only investing in California specifically in Los Angeles since I’m not familiar with anything outside of this area and I’m looking into four Plex and higher in great communities in any state. any recommendations or if anybody owns anything in specific cities that would recommend it, that would be awesome information thank you.
Specialist · Cleveland, OH · Member since 2018 · 232 posts · 348 votes
7y
@Jerry Akop what kind of investments are you looking for? Cash flow, appreciation, hybrid? How much risk are you willing to take on as well? How far from home are you comfortable investing in?
These are the questions I would be answering first. Once I have a better idea of what my goals are, I would begin searching for a location that fits the criteria.
For example, if you are looking for cash flow and are comfortable with moderate risk and fine with a long distance investment, then I would look at places like Cleveland, Indianapolis, Cincinnati, etc...
Turn key provider · San Jose, CA · Member since 2010 · 4k+ posts · 3k+ votes
7y
@Jerry Akop I recommend putting Indianapolis and Kansas City high on your radar. Not only are they good cash flow markets but they have strong economic and demographic trends. Feel free to reach out if you want some insight on either market.
Real Estate Agent · Tampa, FL · Member since 2019 · 38 posts · 8 votes
7y
Hi Jerry, I moved from New York to Florida and I have been discussing with friends there about their home buying experience. What I pay in taxes here for my home in Tampa is about two-thirds less than my friends in New York (15k-20k per year). I have to say, that I am glad to be living in Florida. Great weather, great food, lots of tourist, and a growing population makes Tampa a great place to live.
What are taxes like in California for residential homes?
Anyone specific i can get in contact to help me find properties?
What kinds of properties are you looking for? MLS? Off market? Going to be hard pressed to find someone to bring you the best deals unless you have a track record that is provable.
Rental Property Investor · Indianapolis, IN · Member since 2017 · 96 posts · 140 votes
7y
@Nick Giulioni brings up a good point about what you are looking for @Jerry Akop. There are opportunities to be had in Indianapolis both on and off the MLS. Just as Nick mentioned though, most wholesalers and some brokers will want to know that you are serious about closing on a property before spending much time with you.
I have worked with multiple "new" investors and helping them get their foot into the market. From what I have experienced I would suggest a few things:
- Come willing to actively participate
- Be ready to learn
- Be patient
Far too often I run into folks that want to peruse zillow on a day to day basis to then forward them to their broker or property manager asking whether or not it is a good deal. I would suggest getting with a local broker, pm, etc who has some properties and can help you navigate the market a little better more efficiently. Illustrate to your local contact that you are engaged by providing feedback on what it is that you are being presented with. Hope this helps!
Anyone specific i can get in contact to help me find properties?
Jerry,
I'm a full time investor in Indiana and I live in California. Indy has been good to me for the last several years. If you'd like to talk about it I'd be happy to share. DM me and we can talk.
I am currently only investing in California specifically in Los Angeles since I’m not familiar with anything outside of this area and I’m looking into four Plex and higher in great communities in any state. any recommendations or if anybody owns anything in specific cities that would recommend it, that would be awesome information thank you.
Hi Jerry,
I also live in Los Angeles, and I do ground-up developments full time. Have you heard of MultifamilyMasters? It's a great meetup for investors looking to invest in multifamily nationally. I look at deals in Phoenix and I host the DTLA meetup. Hope to connect with you in person sometime!
Multifamily Syndicator · Houston, TX · Member since 2016 · 1k+ posts · 2k+ votes
7y
@Jerry Akop Hey Jerry, I'd say if you are looking for 4plexes that aren't management intensive, you can also look at some Class A areas in Baltimore, MD.
Try zips such as 21231 and 21224. For 21201 and 21202 it can get pretty interesting.
Personally, I also like some cities in TX. The key here is to build a team in whatever city you pick eventually.