Are investors still buying distressed apartments?

[Alejandro Mendoza]

This question is mostly for the Central Texas region, primarily San Antonio. My bread and butter has always been single-family and small multis but I figure this would be a prime time to start considering acquiring apartments specifically in the 4-20 unit size at a good deal. Anyone actively doing this? Curious to hear from all avenues, lenders, agents, investors, etc. 

I was thinking of looking around the Downtown San Antonio region. Really liking the Tobin Hill, Alta Vista, Mahncke Park areas.

[Taylor L.]

In my business we moved from distressed assets to more stabilized properties with value add opportunity. Think of it as moving from C class to B class. We just found that the pricing on distressed assets had gotten too high to justify the risk. However, I'm certain there are still folks going for those opportunities. It's just critical to buy at the right price with plenty of reserves, particularly when you know there's going to be a lot of capex.