I’m looking to purchase a multifamily property in washington state, All the deals that i’ve looked through have negative cashflow even if putting 50k downpayment of my own money. Are there better places to invest 50k in very hot market?
I think you need to realize that multi family properties do not appreciate as much as single family homes. With that said, why do you need to invest in a hot market for a multi family home if you are only interested in cashflowing?
I more intersted in getting cashflow from a rental property. Rents from single family homes don’t even cover half of the mortgage payment. At least there will be something left from 4-plexes. Flipping houses it’s not an option for me at this time. So far i see good opportunity in investing new constructions, but to me will not last long enough, since there are about 100 new home projects in king county.
right now texas seems to be a very hot place alot of west coast and east coast investor money is going. if you listen to Racy Lucia on the radio he strongly touts the next place to invest in is Texas. Property is much cheaper, more stable, and people are moving into the major cities by the drove. You can cash flow in texas from the day you take possession if you have the right deal. you cant cash flow many times on the west coast and east coast because the units are so expensive that the mortgages are too high for the rents in the area. in texas you can cash flow. Multi-family is hot and when projects pop up they dont last very long.
jpellis is just advertising his website. he posted the same message on 3 threads.
however, i would say TX is a place a lot of costal investors are putting money into. Austin, San Antonio and the Dallas-Fort Worth area are the big metros that people being able to cashflow.
I don’t know much about the Houston market.
I would love to invest somewhere in very hot markets, but i just don’t have any connections and don’t really like the idea investing with blind eyes, Currently i’m looking for a good deals in NE florida, prefferably palmcoast area.
very hot markets are also the riskiest. some of the hot markets in Florida 2 years ago are now in negatives according to national publications. high appreciations vs cash flow. hi appreciations for flips but higher risk in florida vs. lower appreciation and cash flow in tx