Is 2% rule still applicable?

[David Miller]

Hello, I am new to real estate investing and this is my first post, so I apologize if I’m posting in the wrong location!

I have read a few books and done quite a bit of research, but still have a ton to learn! My plan is to purchase multi family units (smaller apartment or a couple townhomes). I have analyzed over 70 apartments and townhomes and have not found any that meet the 2% rule, in fact, most are not even close. Is anyone out there finding newer (20 years old or less) multi family units that meet this rule? I’ve done a lot of searching on Loopnet, google, Craigslist, local papers, etc. Any advice or direction would be appreciated!