Where would you buy Multifamily prop for long-term

[Ron Singh]

What city would you prefer to buy multifamiy ?

-goal is long term

-city with potential of future growth in jobs / population

-low cash flow is fine for now, but would depend on it after paying off

-would state with no income tax better for tax purposes ?

-Prefer states with landlord friendly law

-less crime, quality tenants

-prefer options of str in few units if possible, so vacation states might be good too. (nice to have)

-prefer more on cash flow inrease (vs appreciation ) or both.

What places do you suggest ? and why (bonus)

[Trevor Richardson]

Outside of the obvious answers, everyone suggests Ohio… I would look out West. The markets are on sale out here. It’s a good time to pick up inventory before it reverses. 

I’ll shamelessly plug Reno. It actually matches everything you described above. No state income tax, landlord friendly, we are a vacation hub. Why Reno? We are the first city outside the most populated state, 3 hours away from Silicon Valley which is about to have a renaissance from AI. The Bay is per capita the wealthiest place on the planet. Guess what gets fed all that excess people and money? The first stop in the next state, Reno.

Not enough? Tesla is about to build the semi truck factory onto the gigafactory here in Reno. Which for a market still under 700,000 people is going to create an enormous need for housing. There are good deals today here, we are about to have a housing crisis again and anyone picking up multifamily here is going to look smart in 2 years. In reality we don’t even need more jobs, because we constantly have migration from the wealthiest state and area in the country.