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Updated over 1 year ago on . Most recent reply

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23
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Mike Boss
15
Votes |
23
Posts

Looking to buy 2-4 unit properties in different markets

Mike Boss
Posted

I’m looking to buy 2-4 unit out of state rental properties in the $150k range. My goal is to cash flow around $600/m from every property I buy. I currently own a duplex that cash flows $650. 

For a duplex I would prefer 3 bed on each side with rents of $900-$950 on each minimum. Price $150k and below. 

For triplex and 4 plex I would like it to be under $200k with a goal of hitting $150k price range. Gross rents need to be $2200 or more. 

I prefer realtors who own rental properties or have many clients that are investors. I plan to talk different strategies. I normally put 25% down with a DSCR loan. However, I'm thinking about doing brrrrs. My goal is to one day own 10 properties cash flowing $600/m each.

Some markets im interested in are Midwest. Ohio (Cincinnati, Dayton, Columbus, Cleveland). Indiana (Indianapolis), Pennsylvania (Scranton and Western PA)

Florida (Jacksonville, Orlando, Panama City, outside of Miami). 
Texas (Dallas, Wichita Falls). 

I prefer the Midwest and am liking Ohio. Plan to invest by the end of the summer. 

Most Popular Reply

User Stats

498
Posts
687
Votes
Anthony L Amos Jr
  • Real Estate Agent
  • Columbus, OH
687
Votes |
498
Posts
Anthony L Amos Jr
  • Real Estate Agent
  • Columbus, OH
Replied
Quote from @Mike Boss:

I’m looking to buy 2-4 unit out of state rental properties in the $150k range. My goal is to cash flow around $600/m from every property I buy. I currently own a duplex that cash flows $650. 

For a duplex I would prefer 3 bed on each side with rents of $900-$950 on each minimum. Price $150k and below. 

For triplex and 4 plex I would like it to be under $200k with a goal of hitting $150k price range. Gross rents need to be $2200 or more. 

I prefer realtors who own rental properties or have many clients that are investors. I plan to talk different strategies. I normally put 25% down with a DSCR loan. However, I'm thinking about doing brrrrs. My goal is to one day own 10 properties cash flowing $600/m each.

Some markets im interested in are Midwest. Ohio (Cincinnati, Dayton, Columbus, Cleveland). Indiana (Indianapolis), Pennsylvania (Scranton and Western PA)

Florida (Jacksonville, Orlando, Panama City, outside of Miami). 
Texas (Dallas, Wichita Falls). 

I prefer the Midwest and am liking Ohio. Plan to invest by the end of the summer. 


 Ohio has some great affordable markets to invest in! Getting a duplex for 150k with rents around 1500-1800 is very possible in Toledo, Cleveland, and Dayton. Columbus would be more expensive, more in the 300k+ range for a nice 3BR duplex. 

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