Best place to start investing -multifamily.

Best place to start investing -multifamily.

Eagle, ID · Member since 2019 · 9 posts · 5 votes

I’m starting to invest and doing it at a distance in multifamily. I’m trying to narrow down where to start building a team and analyze deals.

I’m think of outside of Denver, outside Indianapolis and Ohio -outside of Columbus/cinnci.

If you were a starting out and doing it at a distance, where would you start and why?

I know I’ll get questions based on experience, how much money do I have etc- ready to answer as I have many options.

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Nathan GesnerBusiness Member
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Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
6y

Denver seems like a terrible place to start. That market has been sky-rocketing for years and I think it's starting to cool off, which is a bad time to jump in.

I would look at smaller markets within 30 minutes of a major market that is still on the upswing.

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  • Eagle, ID · Member since 2019 · 9 posts · 5 votes
    6y

    Thank you everyone. Super helpful and zoning in on what I need. Appreciate you all!

  • Rental Property Investor · Conway, AR · Member since 2017 · 63 posts · 32 votes
    6y

    @Hadar Orkibi

    I have 1 in Little Rock and 6 in Conway. SFH and 2 duplexes. Looking to scale that in 2020 as opportunity presents itself.

    Did you have a specific question about the area?

  • Hadar OrkibiPro Member
    Rental Property Investor · USA / NZ · Member since 2016 · 1k+ posts · 812 votes
    6y

    @Cory Cox no questions about the area thanks, I know the area well.

    Always looking to buy multifamily in the Little Rock metro area. 

  • Zul BudhwaniPro Member
    Investor · Grapevine, TX · Member since 2016 · 78 posts · 39 votes
    6y

    Little Rock metro area is an excellent buy and hold area.

  • Real Estate Agent · Oklahoma City, OK · Member since 2019 · 956 posts · 600 votes
    6y

    @Joe Moffett I'd say OKC all day for buy and hold, but multifamily is tough to come by. I've had my hands in around 200 deals this year, but only around 10 were multi. That said, they're here but you have to move fast! 

  • Rental Property Investor · Baltimore, MD · Member since 2016 · 253 posts · 178 votes
    6y

    @Joe Moffett Like much of the prior posts mentioned...If you are going to invest in areas outside of your backyard, its important that you have boots on the ground that are experienced in that market. Most likely you lender is going to require that as well if agency lending is part of your capital stack

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