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Updated about 10 years ago,

User Stats

34
Posts
1
Votes
Charles Mangum
  • Aguila, AZ
1
Votes |
34
Posts

Should I invest in first Multi 1.5 hours drive from home?

Charles Mangum
  • Aguila, AZ
Posted

I currently have 7 rental houses and I am looking to make my next investment purchase a multifamily. I toured a 24 unit about 1.5 hours drive from my house.  It is in a small town (population 7,600) but numbers at first appear to be very good and I believe it would be a pretty straightforward transition from c to a b property.  Ideally I'd like to buy 50+ unit multifamily to get the economies of scale of an onsite manager, but again this one seems to work numbers wise and meets all my return objectives.  I have a full time job and 3 kids so of course time is a factor.  I think this might  be a good stepping stone to the bigger properties and raising money.  Thanks for your insight.

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