The market decides most of your outcome before you pick a property. A great operator in a market where rents cannot cover the expense stack still loses.
This page is the framework we use when investors ask "where should I be buying?" — and where our own deal flow is concentrated.
The whole cash-flow thesis. Coastal prices rarely support day-one cash flow; low-basis markets can.
Where the authority's payment standard sits close to or above market rent, voucher tenancy is attractive to owners. Where it lags badly, it is not.
Two line items that quietly kill deals. Some low-price markets carry high effective tax rates or hard-to-insure housing stock.
If you cannot hire a competent manager and a reliable contractor in that ZIP, the return is theoretical.
Who buys this property from you in five years — another investor, or nobody? That answer belongs in your entry price.
Our deepest affordable-housing and Section 8 market. Low entry prices against rents, strong voucher demand, and rental stock — three-bed houses, up-and-down duplexes, small multifamily — that fits buy-and-hold. Block-by-block variation is the risk to manage.
Carly's home market: San Diego, Los Angeles, Orange County and the Inland Empire. This is fixer, value-add and multifamily territory rather than day-one cash flow.
Properties come through from markets across the country. If you are open to any market with strong numbers, say so on the form and we will send what fits.
Look up the administering housing authority and its current payment standards by bedroom count, then compare those to market rents on the streets you would actually buy. Pull tax rates from the county, get an insurance quote on a sample address, and call two property managers to ask what they charge and what they refuse to work on.
Then narrow to submarkets. "Cleveland" is not a decision; a set of ZIP codes and property types is. Bring that list to us and the matching gets far more accurate.
Generally markets where purchase prices are low relative to achievable rent and where payment standards keep pace with market rent — much of the Midwest and parts of the Southeast. Cleveland and Northeast Ohio are where our own volume is heaviest. There is no universally best market; taxes, insurance and management depth decide whether the gross rent survives to the bottom line.
Many of our buyers do, because their home market cannot produce the numbers. It works when you have a property manager and a contractor in place before closing and you underwrite with real expenses instead of rules of thumb.
Nationwide. Cleveland, Ohio is a primary market for Section 8, affordable housing and cash-flowing rentals; Southern California is a primary market for fixers, value-add and multifamily; and opportunities come from markets across the United States.
Yes, and you should. Narrow criteria produce better matches than "anything cash-flowing."