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Updated about 9 years ago,

User Stats

10
Posts
1
Votes
Jason Nelson
Pro Member
  • Real Estate Professional
  • New York City, NY
1
Votes |
10
Posts

NYC member interested in investing out of state

Jason Nelson
Pro Member
  • Real Estate Professional
  • New York City, NY
Posted

Hi All,

I'm new to this forum and would just like to get some member opinions on 2 out of state (for me) properties. 

The first one is a 30 unit apartment complex in Illinois for $650,000. The NOI is $75,174 Cap Rate %11.80. Listing says 97% occupancy and they recently finished renovations.

The other property is in Marietta, GA. It's a Triplex for $250,000 with a NOI of $24,552. 100% occupied and the owner agrees to pay management, yard expenses, and maintenance for a year up to 5k.

Either way I obviously would need a management company, but does anyone have any recommendations on which would be less of a headache? From internet searches both seem to be in a "safe" part of their respective cities. Of course I will eventually talk to some people that actually live in the areas. I would also need to find a partner on either one of these deals. Unfortunately, properties here in the NYC area just don't offer the same type of return. 

  • Jason Nelson
  • Loading replies...