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Updated about 10 years ago,
Should I invest in first Multi 1.5 hours drive from home?
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.