Multi-Family Real Estate Investing in Texas

[Quinn Rogers]

I have just finalized the contract to begin development on a new apartment complex in Southern Texas. It is located in the growing city of McAllen near the coast and is comprised of 288 units. I am partnered with World Development Company, an approved HUD builder, who has built the same building in a different location with incredible success. I would love to hear outside input on this specific market, and the suggested cap rate for buildings in this area of Texas, because I am currently investigating other properties in the area.

[Soumya Brijesh]

@Quinn Rogers I recently moved to Port Isabel. Which is 1.5 hrs from McAllen.

I’m still new here but McAllen from what I heard is a booming market . Specially being one of the bigger cities I rio grand valley.

I’m curious what kind of return is the builder offering you ?