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Updated almost 6 years ago on . Most recent reply
![Thomas Wang's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/891156/1641749823-avatar-thomaswangllc.jpg?twic=v1/output=image/crop=874x874@150x0/cover=128x128&v=2)
Where to look for Multi Family Rental Real Estate?
I have few single family rentals in Colorado and now thinking about getting into multi family rentals. I have access to about $100k HELOC + $25k cash to get this project going? My goal is to hold and generate passive income (cash flow). Colorado real estate is getting expensive. I appreciate any advice on possible places out of states where I can start looking into and network. Thanks
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If you're looking for 2-4 unit, residential properties, I'd focus on OK, MO, TX, FL. Do research on the RE brokers and agents who do the highest volume in the cities you want to be in. Call them up and interview them. Also ask about quality property management. You'll need that for out of state investing. For 5+ units, well, I'd say skip everything from 5-100 units if you're out of state, unless you can do the deal yourself and find a good deal and a good management team. Go into a syndication with a seasoned sponsor team. Don't just look at multifamily which is getting very pricey, even in these states mentioned above. Look at other asset classes and experienced partners in those spaces. It's a trust business. Don't hesitate to get on a plane to meet a business partner, sponsor or whomever you're intending to do business with.