Is there anyone located in Mass who invest in OOS Apartments (10-40 units)?

[Nicholas D.]

Hello,

I am a real estate investor located to Southeast MA, I own and manage a small portfolio of 23 units and am looking to expand and scale out of state as the returns and market have been quite difficult in my area: due to CAP Rates, specific building class I am looking to invest in, and rising interest rates/minimal inventory, as well as it would be nicer to be diversified and in a more landlord friendly state. I have been consuming as much education/reading regarding out of state investing as I can as well as literature regarding buying larger buildings (not quite the syndication level) although I have been reading that material as well to digest. I am looking to connect with local (to myself) investors who have made the leap out of state.

[Nicholas D.]

@Sharon Porter What specific part of TX? I have family in Houston, Dallas, and the Valley, I was networking with brokers in San Antonio, but the Taxes seem to be quite high as well in that State, although much favorable laws/regs on the landlord side. I have been narrowing down some markets and trying to explore/research more and network. I've looked into Columbus, Memphis, San Antonio, and Indianapolis so far. I am in the same boat of either 1031 exchange or refi some of my small multi's to purchase a larger complex.

@Eric Gerakos In theory that's the plan. The 23 doors are only spread over 4 properties. I have over 1 million in equity....doing nothing, in just three alone. I am looking at 1031 possibly or just fixed refi/or use my heloc for the time being on a value add for a building 10-40 units (market dependent on price). These properties are already pretty maxed out, I would much rather deploy the equity so I can work on the appreciation and getting the most out of a new larger building then still have the same four properties 20 years down the road. Hence the idea of a couple more properties, however, with much more units than I currently have per building.