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Updated over 2 years ago on . Most recent reply
Cashflowing SMF properties!
As an out of state investor living in NY; where are the cash flowing markets to focus on during these unprecedented times???
Currently have a SF rental under section 8 in AL and a triplex in MI fully occupied!
Time to buy more of my time back through REI!
Looking to grow my relationship with skilled agents/realtors/brokers/lenders/PM,s etc
Always looking to connect and build with like minded individuals!
Most Popular Reply
I have cash flowing properties in the Ames, Iowa area. I personally really love it as it is one of the last cash flowing area's that the population is not experiencing population decline. My Realtor there also has 100+ doors that he owns and a couple hundred doors that he manages, so he helped me buy the property and now manages it. I also have been very happy with the tenant pool there. I was also able to secure a really hot DSCR loan below convention investment rates because we told his bank he would be managing it.
In Colorado, I am under contract for an airbnb in a mountain town called Drake, that after we meet the residency year to get a 5% down primary residence loan, we are projecting 100%+ CoC returns. With 20% down, it is not too hard to find 20%+ CoC returns in many Colorado STR markets.
I am also underwriting deals for future airbnb's that I am looking for capital partners on. While my preference is to do straight debt, which they can support over 10% guaranteed, I am also open to equity partners.
If you want me to get you in contact with my guy in Iowa, help you find a property here in CO, or hop in on a deal with me please send me a DM!
I would really encourage everyone who is looking for cashflow to watch population changes by decide in cities they invest. You can find this in Wikipedia under almost any city's page that is greater than 50k in population. I was really shocked to see some of the markets that I had felt like were great were actually shrinking, and shrinking really fast. You do not want to run out of people to rent your properties!