I’d like to get your opinion of your local real estate investment market. I’m specifically interested in Multi-Family rental property but would love to hear about other investments as well.
I want to generate Cashflow. I’m not trying to do anything fancy. I simply want to buy multi-family homes with 10-20% down and receive a decent return on my investment. My local market (Atlanta) is becoming extremely difficult to generate a positive cashflow without more than 20% down or significant investment in rehab.
Rehabbing them will get you the best value and return on investment. Why not rehab a few for you to hold and make some decent money in a market you know?
I’ve been eyeballing charlotte(well moving in april actually), take a look at the Charlotte Observer real estate section sometime, They have it separated into the different MLS areas for both the “For Sale” and “For Rent”. You can see pretty quickly that there could be some oppurtunity there, but don’t be one of those guys paying too much and ruining the deals for others.
Have you looked at San Antonio? The market here has been good the last few years. I have one rental property, a 4br, my mortgage is $774 and I charge $900 for rent. I could probably rent it out for $1000.