Best cities/states that are great to start investing Du/Tri/Quadplex MF???

Question

Hi everyone!I'm new to REI and I'm interested in buying small multifamily properties whether it be duplex, triplex, or quadriplex. Preferably tri/quadplex. I'm currently living in Williston, VT and I'd like to go about this virtually. Not much locally around me, or at least nothing I find worth investing in at the moment. I think Ohio would be a good start virtually. What are your go to places for MF properties? Thanks!

Remington Lyman · Answer

I am always down to talk about real estate investing in Columbus, Ohio. I started off with a duplex in 2017 and now have a solid portfolio of rentals. I invest in single families all the way to apartments and office buildings

Peter Dorinsky · Answer

Hey Kelvin, there is great opportunity in Ohio if you're looking for MFH's. If you're just starting out researching markets I'd suggest looking into Cleveland and Columbus. Cleveland is a great market if you're looking for cash-flow deals and the Columbus market is rapidly growing as a result of some of the largest players in the tech industry expanding and growing their business here. If you're looking for a market with great long-term appreciation potential, Columbus would be worth looking into.

Austin McClain · Answer

Ohio has been growing quickly, I live here and am excited about it. https://www.axios.com/2024/01/10/zillow-ranking-hottest-real...

I've seen good cash flow in Dayton and Cleveland and high expected appreciation in Columbus as the population increases

Min Zhang · Answer

Hey Kelvin. Columbus, Ohio is a great market to pick up rental properties because of the lower home prices and demand from renters. JPMorgan Chase, Nationwide, Honda, L Brands, Huntington, and Amazon are just a few of the many companies that have thousands of jobs in the city. Let me know how can I help!

Tim Bratz · Answer

Hey Kelvin,

I have properties primarily in NE Ohio (where I'm from) or in the Southeast (where I live now). The most important thing to understand is there are good deals everywhere, and there's a learning curve wherever you want to start. Ohio is great, as I've mentioned I have some stuff there. But be sure to dive in and do your research not only on the deal, but other aspects (primarily property management) so that you're not flying totally blind.

Kelvin Ng · Answer

Thank you all for the helpful info. I look forward to connecting and learning about the market in Ohio!

Michael Smythe · Answer

@Kelvin Ng check some of the great things happening in Detroit!

https://michiganchronicle.com/2024/01/03/major-developments-that-will-define-detroit-in-2024/

One of the biggest mistakes we see new investors make is not fully understanding the pros and cons of Class A, B, C & D properties.

This leads to their expectations not being met and even disasters!

Ricardo Hidalgo · Answer

Panama City has cash flowing opportunities for value add. I just saw some opportunities at 20-25% that would have about 600-800 a month in net cashflow after expenses sub 400k.

Best cities/states that are great to start investing Du/Tri/Quadplex MF???

Most Popular Reply