All Forum Posts by: John B.

Say you had 100-150k to invest right now (as a downpayment) in multifamily (2-4 unit) or even more..where would you invest? Or would you even? Taking into account positive cash flow, maybe slight appreciation, landlord friendly state etc. Say you had some free time and can travel but not ready for a full on rehab just yet due to no experience. Would you just wait to see what happens with the market and if rates go down? Any info appreciated.

0 Votes

Quote from @Bruce Lynn:

@John B. Ohio seems like a great place, but I think often you might get a completely different property to cash flow in Ohio vs Texas. What I've seen in Ohio seems older, not as well built, and from what I hear tenants seem to be a bit rougher on the property. First look ROI seems good, but not sure about appreciation and turnover costs over the long run.

Economy in Ohio seems to be about as good as anywhere though....good things seem to be happening in Cleveland, Dayton, Columbus....maybe other locations too. The few times I've been there I always thought of it as the rust belt, but has been a few years and they seem to be drawing in some good business. Cleveland clinic one of the top hospitals in the nation, but area right around it seems pretty tough for the most part.

Good luck and best wishes.

Thats true, although I wouldn't want to live there myself, seems like 70% of people on here suggested OH as a state as the best place for ROI in this market.

0 Votes

Los Angeles County, California

Wow! Ive been having trouble finding a Dallas area investment (my potential future residence) that isn't negative COC with 25% down for multifamily. Seeing all these people comment about Ohio has got me considering. Maybe ill have to look in the midwest!

0 Votes

Los Angeles County, California

Quote from @Bruce Lynn:

Cash flow is often a function of how much you finance and perhaps the interest rate you can get...so right now in DFW area I would expect in many cases you will need 30-35% down and 65-70% leverage to cash flow.

We don't have a lot of 2-3-4plex available and what there is seems to generate good demand.

To give you an idea of what I see...new build duplex $425,000 rents about $3200/month $1600/unit in further out burbs.

That seems to be the case with most places outside of the midwest as of lately.

1 Vote

Dallas, Texas

Is it possible to cash flow in this area for Duplex,tri,quadplex? Ill be there next month to check out properties. Im looking to move here in the next year or less so I wanted to supplement my income before moving.

2 Votes

Dallas, Texas

Quote from @Joe S.:

Quote from @Leroy K. Williams:

Have you considered Detroit MI?

It may seem counterintuitive because some think of Detroit from a decade or two ago however we are a City on the move. Detroit was recently named one of the top 10 places to travel. That's pretty significant. Where else can you find a City emerging into greatness where you can still buy SFH for $30k, renovate for $35K and easily collect $1,200-$1,300 a month in rent?

This isn't theoretical but a real thing happening in the Motor City. I can prove it.

Detroit Named Top 10 Place to Travel in 2023 by Travel Lemming | VisitDetroit.co

Who’s going to oversee the rehabs for out of state investors?

I have that same question, its hard enough to buy something almost turn key out of state.

1 Vote

Quote from @Brock Mogensen:

I love it. There is no need to start small if you have the capital and knowledge to go bigger sooner.

Would you say getting 8 units is harder/just as hard as 4 and under? I know they use DSCR vs Income and have costlier inspections, higher rates, management etc.

1 Vote

Sounds like you are doing well, whats your main source of lead gen?

3 Votes

Id say triplex or fourplex with FHA and house hack.

3 Votes

Salt Lake City, Utah

@Paul Welden maybe I should go the route of the homestyle loan.

0 Votes

Fort Lauderdale, Florida

All Forum Posts by: John B.

John B. has started 12 posts and replied 54 times.

Post: 100k+ to Invest, what would you do personally?

Post: Out of state investor

Post: Out of state investor

Post: Actively looking for Cash Flowing Multifamily in DFW area

Post: Actively looking for Cash Flowing Multifamily in DFW area

Post: Markets with great cash flow

Post: Is starting with a 12-unit building unadvisable?

Post: Is there anyone/groups here doing over 100k a month profit?

Post: 17 years old, I have about 28,000 cash on hand, What do I do?

Post: 203k Loan rehab for live in equity