Which area is best for Cashflow+ MF?

[Mitch Hankins]

Hi All,

This is my first post so forgive me if I’m breaking any etiquette. 

I just finished reading how to invest in real estate along with a dozen or so other books and although my strategy is clear I’m having difficulty making it work. 

My goal: use my VA loan to find a cashflow positive 4-plex with 0 down (OPM).

I started my search locally, in San Diego and have learned since I won’t find what I’m looking for here. I’m comfortable moving out of state so I’ve visited and expanded my search to Tampa but even there I’m having trouble finding positive cash flow. 

What parts of the country would be good to look at? My strategy is to hopefully refinance after a year and move on to the next deal (buy and hold). 

Thank you,

Mitch

[Marc Rice]

@Mitch Hankins

Have you talked to any local agents or brokers in your market who are also investors and may have access to off market deals? I would caution moving far away just for cash flow when you can usually always find something in your back yard if you dig deep enough. I know San Diego is very tough though with the lack of multi family available.

I would say Columbus, Ohio but if you’re a so cal guy it could be a bit of a acclimation although I do know people who have moved from Cali to househack in Columbus and now have bought 10+ rentals in the past 6 months.

It really comes down to your lifestyle desires and what you’re willing to sacrifice.