Multi family investment

[Olu Oguntoyinbo]

Hi! Im looking to invest in a multi family property with the NYC/NJ area. This would be my first investment property. With everything so expensive within the east coast how can work cash flow positively? Especially with high interest rates

[Sam Kahl]

My experience in Baltimore is that while we have plenty of multifamily listings, there aren't many priced really well upfront and most require work. Still, you may try evaluating a different east coast market and seeing if you're liking more of what you see down here compared to NYC/Newark. It takes patience to get a good multi (and decisiveness to act when the right one strikes). The interest rates will hurt you equally no matter the geographic market. I've had investors that come to me originally looking for multis in Baltimore end up switching to SFRs because there's a bit more to choose from, and a decent SFR is better than waiting a year for the right multi.