hey guys…the time has come to start looking into passive income. i’d like to move funds from my wholesaling system (almost on auto-pilot) into rental property.
i like the idea of having a rental complex of at least 40 units. i’m beginning my research to see what areas of the country would make most sense to invest in and i’d like to hear some feedback from those active in this area of REI.
from my initial research i think an ideal area would have the following attributes:
-cheap property prices
-high/competitive rent rates
-landlord friendly state (in case of evictions)
any feedback or additions would be appreciated.
Happy Easter. While most of our units are sfhs, we have a couple small multi family buildings. I’d say your desired attributes are a good place to start. In general, red states are going to be more LL friendly and IMO a better place for that kind of business. While I don’t mind dealing with low income rentals in the sfh arena, I wouldn’t do that in multifamily. I’ve yet to see a low income apartment complex that wasn’t riddled with drugs and violence. Some of our tenants come to our sfh rentals to escape that environment. I would stay with at least working class people if I was buying a complex.
thanks for the reply justin. have you researched any markets that seem appealing to you?