Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Multi-Family and Apartment Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 3 years ago,

Account Closed
  • Houston, TX
4
Votes |
6
Posts

ISO Houston Multifamily Property

Account Closed
  • Houston, TX
Posted

Hi BP community! My name is Trevor and I'm a new real estate investor in Houston, TX. I'm in search of a 4+ unit small apartment in several of Houston's inner-loop neighborhoods with a price up to $1M. I'm primarily focusing on the Heights and Montrose (as I live in the area), but also interested in Timbergrove/Lazbrook, Museum District, Medical Center and Eado. These neighborhoods all have strong demand with Houston's population growth and close proximity to downtown/cultural centers. 

I have an agent assisting with properties on the MLS and am also doing my own direct mail after driving for dollars. Particularly with the Heights and Montrose, there are not many properties on the MLS and the few that are listed are vastly overpriced. In these neighborhoods, my opinion is that any deal is likely going to be found off-market. There are a number of C class properties in these B class neighborhoods, which is what I'm looking for. The high property taxes in these neighborhoods make cash flow a challenge, particularly when factoring in any sort of financing. Therefore, I'm finding that 4+ units is around the minimum needed to spread out the taxes to a somewhat more reasonable level on a per unit basis. Having said that, I believe these neighborhoods will have strong rental demand for decades to come.

If there are any folks out there investing in these neighborhoods, I'd love to connect with you. Also, if you know of any available deals I'd be glad to hear about them. 

Loading replies...