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Updated over 2 years ago on . Most recent reply

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Aloha! New to REI. I have a few location ideas?

Posted

Hey there -- I'm new to REI. I'm learning about out of state investing. I'm currently going through roofstock academy and am enjoying the course. It's pretty high level on a lot of things, but I'm enjoying the process of analyzing deals.

I've decided for my first property, being potentially 5k+ miles away, I don't want to just use roofstock. I'm interested in working with a realtor that's also an investor in the local areas and have them find me off-market deals.  I'm definitely interested in turnkey -- As I just don't have the experience or passion involved with rehab -- that being said, from a strategy perspective, I do love the idea of growing a wide portfolio of cash cows in the midwest. 

I'm specifically interested in multi-family 2-4 unit rentals and my long term goal is to own 5+ unit apartment buildings. (like 24+ unit buildings) 

What I would love to know from experienced investors is which region you would target first? 

I've contacted investment realtors in the following areas to get insight into markets but would love any recommendations and experience you all may have. 

Here's where I'm looking to buy: 

Max Home Value: $250k 
Property Type: Multi-family (four plex preferred) 

Milwaukee
Detroit
Clevland
Memphis
St. Louis
Kansas City
Pittsburg 

From what I'm learning about and reading about, from a cash flow perspective, these are great investmentment areas. Do you have rental properties in these locations? Which do you feel is the strongest? 

What website or resources do you use to evaluate a good market in a specific territory? For example, how can I pick between Milwaukee and Clevland? What resources can I find online to help me decide on the better market to invest in? 


Also -- If anyone does buy homes on Roofstock, please get in touch with me. It seems really appealing, but not knowing anything about the specific location of the unit is terrifying vs. I feel like communicating with a realtor in the area will hopefully have my best interest at heart. 

If there's any newbie investor discord chats, slack groups, or fb groups -- please send them my way. Looking to get really involved with the community. 

Jonathan

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