Multi family investment in Texas

[Alexander Parada]

Hello Guys ,

Looking to acquire a multi Fam property in the Houston / Dallas / San Antonio area. I currently have several sfr props in Texas so would like to stay in the same growing state.

I live in Los Angeles looking for a product 3M-4M value add apartment. If anyone knows of a great broker to connect me with that would be awesome! I have looked at some deals on Loop Net, however want to connect with a seasoned veteran who can assure me I’m picking up a good deal while assisting with the purchase.

I appreciate any input and thanks in advance! I’m also open to TN,

Looking for a Cash Flow prop I know Texas has high prop taxes but something needs to be out there.

[Cody L.]

I'd strongly suggest looking at loopnet and, even if you don't see a deal that works, reach out to some of the brokers that are listing deals that somewhat match what you want.  Brokers will never send their 'fresh' stuff to someone unless they know they're an active buyer in that market.  But you can at least get on their blast list to see stuff before it hits loopnet.  

When you see something that might be a fit (and assuming you know what you're capable of taking down and can bid aggressively on), go after it hard.  When you get it, make sure you mention to other brokers in the area that you're an actual buyer and you just closed on xyz.

[Michael Dang]

It's going to take a lot of time and effort in building relationships with the multifamily brokers.  Be persistent and build your team in those sub-markets.

[Nancy Le]

Hi everyone,

I'm new to BP and interested and just thought I'd say "Hi" in this forum since Texas is the market I'm looking into as well. 

@Alexander Parada: were you able to close in the markets you mentioned? 

@other veterans: I'm also looking for multi-family (duplex to quart-plex) in the same markets (Houston/Dallas/San Antonio/Austin), I would very appreciate any pointers/introduction to good brokers in the area. Also for a discussion, from your experience, which one out of the four would you focus on first? 

Looking forward to hearing back from you all!

Thanks,

Nancy

[Brendon Brooks]

@Christian Barthelemy

Hi Christian, I'm with an active multifamily investing group looking for 18-50 units (value add plays) in the Houston metro area and I would love added on your deal list. Thank you.

[Mike Desrosiers]

We have two properties under contract in Texas. One is a 60 unit b class property in Ft Worth TX. 80's build, townhouse style property in a nice old money neighborhood of town and close to a medical school. It cash flows with minimal upgrades. The second property is an 88 unit property is in Galveston Texas a couple blocks from the beach and walking distance to everything. Both have good projected returns.

[Hadley Fisher]

Hope everyone is well I live in south Florida too

I am actively looking in Texas for 100 units and above . I like class B , value added, affordable housing etc I would enjoy connecting with others on here.

I am looking at a some deals in Texas

San Antonio

Denton area

I like Fort Worth and Dallas too.

I am open to others areas as well

HMF

[Rick Pozos]

Hey @Hadley Fisher the 100+ market is kinda crowded with lots of money looking to park money. Returns have been lowered quite a bit, at least in San Antonio. I have some friends who have purchased some smaller (30-100u) properties in smaller markets that have done pretty good. More risk, more return and a little more hassle for the syndicator.

[Hadley Fisher]

@Rick Pozos

Thank you for your response and I agree with you . There are allot of folks with allot of money chasing deals and I am in the same boat . Luxury problems lol

I am not a doing Syndication .

HMF

[Tamiel Kenney]

Hi Alexander, John Krebbs with The Multifamily Group is a Broker who specializes n these smaller Apartment Communities in TEXAS and surrounding states.  He would be a good source for you.

@Alexander Parada