What to except in the 30K - 60K price range

[David Rutledge]

Good evening,

I am an investor from CA. I bought a duplex in Indy last summer and I am very happy with the returns so I am looking to add another multi family to my portfolio.

I have about 30K saved up so I am looking in the 30K - 60K area. Can someone tell me what kind of multi familys I can except to be available in that price range? I am looking for close to a turn key type property and I am not interested in any rehab etc...

Also, I can buy a property for all cash at about 40K or under or can use financing for a property anything above 40K. I would rather just buy this property all cash but I am wondering if there is much difference in what I will be getting for that difference in price?

Any advice or insight would be great.

David

[Carlos Altamirano]

Hello

@David Rutledge 

Congrats on your duplex in Indy! My very first buy and hold property was a duplex too in Indy, which I still have. the best answer to your question is what is your ultimate goal? Personally, I would leverage as much as I can, specially in a great cash flowing market like Indy. I would save up a little more. I am looking at a 14 unit not too far from Indy for $320k. You can also try BRRRR strategy, and get all your money back in less than a year, so you can do it again. (get familiar with BRRRR if you haven't already). Or maybe you can participate in a syndication, and own part of a much larger complex, say 100 units or something. I have 68 units in escrow in St. Louis that we are syndicating. Their are lots of options! Good luck!

-Carlos