Considering a Multi-Family Investment

[Chris Noles]

Hi!

I made my first investment in a vacation rental in Myrtle Beach last year.  I am wanting to acquire another property, but before I decide to pursue another vacation rental, I want to see what opportunities are out there with cashflowing multifamily homes.  

My budget is for a turnkey multifamily for $120K or less which will cashflow well. Tenants could be in place but not a requirement. I would love to do a BRRR or FLIP, but my wife and I are new parents and that would be too time-consuming. Cashflow is our main focus, so the property does not have to be in an area that appreciates all that much. We live in NorthWest Georgia, and our target area would be a good market that is within 7 hours driving distance since we plan to self manage. I have been reading many posts about the midwest market being best for low cost of entry. Places like Ohio, Indiana and Wisconsin, but in those areas only Cincinnati seems within a reasonable driving distance.

For the SouthEast, I am hearing that Macon, GA and Gastonia, NC might be good markets, but I haven't seen anything much on the market compared to what I am seeing in the Midwest.

I am open to feedback, and I am open to agent referrals who might be able to help me understand any of these markets.

Thanks!