Multi family opportunity in Houston! Seeking advice

[Shahin Momin]

Hi BP!

I have come across a 20+ unit multi family property near my house which is for sale. I love the area and there’s lots of development going on at the moment. The property is very old and currently has a 20% vacancy and way below market rents. They are selling the property for the land value only but for some reason I feel if it can be renovated, it’d be a steal due to the location.

Since I’ve never put together a deal of this size, I am looking for referrals for some commercial real estate brokers that can help me purchase this property and give me advice. I have signed up for events in the area starting this Saturday to network with investors and hopefully find individuals willing to partner with me through this deal. Any advice or leads will help. Thank you for your time!

Shahin

[Shahin Momin]

@Erica Castro I have used the calculator but like a typical newbie, I am speculating on rehab costs and i'm unaware of the average rent/sf in the area. This will be my first multifamily deal. I have invested in other larger commercial real estate projects but was never in charge of the rehab/construction. 

@Obi I. Thank you for the reference.

@Account Closed Lets meet for coffee in the downtown area early next week (Monday-Tuesday)?