How Do I Select Best Areas Any State To Buy 1st MF

[Edwin De leon]

What are your top things you'll do, you'll research, to determine the top areas in any state to buy my your 1st MF that will allow you to maximize your investment and ROI that will ensure your property will cover all total common expenses and unforeseen Capex expenses that can happen at any time ⏲️

[Paul Pratt]

@Edwin De leon

It depends on what you want to do. There are tons of factors I see depending on your goals.

1. Long Term tenants? Or STR (Airbnb) need to check local zoning as it varies in differnt parts of the same city.

2. Attractions? Does the area pull out of state tourists for events frequently, or is seeing a growth in population. For example, my area (Daytona Beach) makes most of it's money in less than half of the year (Daytona 500, Bike Week, Biketoberfest and Spring Break) This can have a huge impact on your business considering the rates for STR are much higher during these time frames due to lack of rentals.

3. Industry, where do the people in the area work? Major hospitals? AMAZON? That will factor in if the area is right for you and what you want to get out of your MF area search!