Good areas to buy 40-50 (or more) units multifamily under $2M

[Abiy Tedla]

Hi, do you have any recommendations for good cashflow areas where it's possible to find multifamily properties (40-50 units) under $2M?  Please DM or reply to the post.  I'm keeping my options open as an out of town investor.  Thanks in advance! 

[Kevin Romines]

Typically, that many units in that price range means the property has somewhat substantial deferred maintenance. That can be great if you can come in and add value by doing the rehab that is needed and then work to bring the rents up to market. But its a long play, it doesn't happen over night. 

Also the question becomes, why did the property not get the maintenance or upgrades that were needed. There has to be a cause. If it was just purely owner related versus the local area, then that could be a good buy. If it was due to the area, that could be a long up hill slog. 

The person that solves the problems in life is the person with the vision and fortitude to see it and make it happen. 

If you have any questions regarding financing options, let me know, I can work up some options for you.