First Time Out of State Investor & Multi Family Units

[Carlo Ramos]

I just finished school and currently have a stable job with a bit of money saved up. First time investing in real estate, and chose Cleveland since my budget fits perfectly. Currently negotiating with a seller for 2 multi family properties for $200k, all units occupied, generating around $4k gross rents. Thoughts on this deal? 

[Alfath Ahmed]

Quote from @Carlo Ramos:

I just finished school and currently have a stable job with a bit of money saved up. First time investing in real estate, and chose Cleveland since my budget fits perfectly. Currently negotiating with a seller for 2 multi family properties for $200k, all units occupied, generating around $4k gross rents. Thoughts on this deal? 

 Are you based in the Cleveland market? I broker deals in both cities and can tell you that if you want to build true wealth. I would invest in the C+/B- areas of Columbus like Hilltop, Linden, and Whitehall. Properties here appreciated around 32% last year. 

You want to ride the wave with the out-of-state investors. Those deals can be bought for under $200k and it will cashflow.