All Forum Posts by: John Bocelli

Quote from @Jesse L. Weaver:

Hi John,

Our team helps a lot of out of state investors acquire and operate small multis in Central PA. I'd love to chat sometime and see if we would be a good fit, feel free to reach out!

 Thank you Jesse, PA is one of the states I have been considering, perhaps we can setup some time for a call or zoom, I'm interested in hearing what you have in mind.

Quote from @Evan Polaski:

@John Bocelli, do you have any experience with owning rentals, even one single family rental?

Beyond the lending (if you go 5 units or more), the operations of small multi's is not much different than a single family, and even 10 units, where you aren't supporting full time on-site staff is not much different that a single family (although renovations may be more challenging for larger properties depending on local codes).

My advice is always to start local. A nice duplex at a good price will rent in nearly any market (although I have never lived or invested in super rural areas).  Unless there is a major cost constraint in your market, I would recommend starting local.  And while out-of-state might seem like you will make more money, and you might, there are a lot more risks when you can't lay your eyes on the property from time to time. And even then, if you decide that you will travel to the property twice a year, that is an added cost to the property, that will reduce your returns.

Thanks Evan, I've actually been doing this for a while and have recently sold off some of my portfolio in NY Metro area, I'm looking out of state as there seem to be better opportunities but I'm looking for advice on locations.

Quote from @Ryan Lesley:

Hey John,

Here is a great podcast put out by On The Market about great markets to invest in this year and their suggestions are really all over the US. 

The 8 Worst and BEST Housing Markets of 2023

hope you find it useful and best of luck 🤝🍀

 Thanks Ryan, this is helpful, I will check it out!

I would suggest going with the multi-family house hack approach, especially if you have a family. As others have mentioned, you can use 75% or so of the projected income to qualify on the small multi-family loan, the income may cover most if not all of your mortgage, and it will most likely provide better cash flow when you are ready to move on to your next property. SFR with room rentals could work but may be a big hassle now and may not provide much cash flow later if you rent it as a conforming unit once you are ready to move on.

Hi Everyone, I'm focused on finding small multi-family property's, ideally quads for now but would consider duplex/triplex and up to 10 units...................I'm interested in thoughts/guidance on locations.

Thanks in advance.

John

@Nick Giulioni Thank you Nick, I’d love to connect and discuss further.

@Mike D'Arrigo Thank you Mike

@Tyler Lingle thank you Tyler.

@Ed Brancheau thanks Ed that’s great advice, I hadn’t thought of using the search box but will check it out.

Hello Bigger Pockets network, I am looking to expand my portfolio and considering Greenwood Indiana for small multi family and single family deals, I was wondering if anyone could provide any information on the area that would help with my due diligence. Also looking for recommendations for property managers and contractors in the area as well as buyers agents.

Thanks in advance.