Houston Multifamily Investing Woes

[Deo Sanders]

90% of Houston Texas multifamily units (inside the loop) have significant deferred maintenance with higher prices. While I can afford the prices, the cost of no cash flow, high property taxes, obvious maintenance and COVID producing a more favorable renter policy vs landlord gives me great pause. However I’m anxious to get my first MF under my belt.

If you’ve invested in similar situations, how did you break through. What was your approach.

[Jonathan Greene]

If you just listed all the negatives, why are you intent on pushing into that? There's way too much advice pushing multi-family as the best viable opportunity in the investing game for a new investor via a house hack, but because of all of this advice and the house hack fever, all of the markets are saturated with multi buyes pushing prices up over what these are worth and making them, as you said, cash flowless. So why not think about other strategies. Condo flips (quicker, less risk, but less profit) or one-year holds. Small house rentals, 2 bedroom ones. When you see a black hole and you call it a black hole and know you don't want to go into the black hole, why are you still getting your spacesuit on?