Having no luck finding Multi Family Deals that would cash flow

[Aaron Hall]

Hi all,

I am new to multi family investing, only having just recently went into a MFR deal with a business partner to make a very, very, measly positive cash flow per month on a duplex. With that being said, is anyone willing to throw a bone as to some locations where there are still a decent amount of MFR that would cash flow well? As I stated I am new to this so I'm not surprised I'm having such a difficult time, but essentially no matter where I'm checking (online listings only, admittedly) across the US, numbers are barely even showing positive cash flow as I'm analyzing listings of MFR. This goes for Duplexes, Tri, and 4-plex!

Am I just trying to purchase at the wrong time since prices are still on the rise? Thank you ahead of time for any responses.

[Damon Pendleton]

Aaron, I agree prices are high, sellers/brokers can be ridiculous on the prices, and some buyers are overpaying for properties, so it makes it all okay. Every buyer is not purchasing for the same reason so some might "overpay" and it still make sense for their situation but not yours (or mine). You can't really worry, or even compete, with buyers that don't require a decent return. But you are still doing the right thing. Continue to analyze with the caveat that an asking price is just an "asking price". We all see pro formas with numbers somebody pulled out their arse and those arse-numbers are used to support their inflated asking price. Your analysis will show at what price the property makes sense. It's fine to write an LOI based on the real math that make sense. Find that number that makes sense, go after that number, and if you don't get it, cool, next.