Real Estate Investor

[Aaron Villa]

Hello,

I’m a new real estate investor looking into multifamily investing. I’m willing to  invest roughly $300k. I currently reside in Las Vegas but don’t really see much multifamily buildings around (most of them are very old and beat up). This made me think of investing somewhere else. I would like to ask for your advice. I know it’s hard to invest in a different state especially for beginners but I also don’t mind hiring a property manager. If you have that much capital, what would you do? Invest it in one small apartment or buy two fourplexes? And where would be the best place to invest especially with people moving around (factoring unemployment rates etc.). Doing some research i found out that Austin, TX and North Carolina are one of the best places to invest in. But i want to hear your thoughts

[Benjamin Aaker]

I agree with @Gary Mazzarella, those old beat up apartments are perfect for doing some repairs and bringing them up. Find a bunch of those and check their rents to compare with the market rents in the area. If you see one of these with much lower rents, then you have an opportunity. 300K can get you a down payment on a nice multifamily building and get you started in the market. I also recommend staying at home to start out, especially if you will be doing repairs. You need to keep an eye on all the work.