Need guidance in regards to investing in MFP- Texas

[Steven Lee]

Hello!

I am a first-time investor looking to purchase a first multi-family property in Texas. I've been searching in Austin and surrounding areas but it is super hard to get a positive cap investment... So I am looking at positive cap rate locations such as college station or Killeen and need some guidance (and if there are great deals, will also need a realtor). FYI I already have a pre-qual in place. 

Some things I am looking for: 

- $350-400K price range

- Positive Cap rate (haven't defined a % yet but maybe 3-4% would be a good start- the higher, the better) 

- Multifamily property (du/tri/four) 

- Property management company to manage

- Military vs. college students

Thanks!

[Bryan Noth]

@Steven Lee you can find positive cap rates as-is on quads in Austin that are rent ready.  If the numbers you are crunching are coming out at negative cap rates I would ask you to give a sample of your analysis calculations and some of us here in the Austin MSA market can help provide insight if you are on track.  

That said, if you are targeting sub $400k multifamily for college or military client base bias then Killeen, College Station, and San Antonio are solid options to consider.