Looking for Small-Med Apartments in Houston or Dallas

[Shane Thomas]

Hey all!

I'm looking for small to medium sized apartments (5-30 units) in the Greater Houston and DFW markets. I am looking for properties that meet the following criteria:

• Property Class: Class C to B-
• Year Built: 1970 or newer (free standing, no HOAs)
• Cap Rate: 8-11%
• Cash on Cash Return (Year 1): 12-15%
• IRR: 20%+ (on a 5 year hold)
• Price per unit: $25-50K (depending on condition and location)

I have more detailed criteria that I use to under-write deals that I can share if your interested (PM me). 

I'm also interested in partnering with experienced investors on larger deals that meet the above criteria. I'm more interested in a smaller partnership (2-5 partners) than a large syndication.

I'm always interested in meeting like minded people as well.

Please send me a PM to discuss further.