Newbie from Dallas, TX

[Raylor G.]

Hello BP,

My name is Raylor and I'm from Dallas TX. Currently, I'm living and working overseas as a government contractor (physical security) looking to get started in real estate investing. I would like to invest in the Central Texas area, mainly Killeen, in multi-family properties. If you have any advice or expertise, please leave a comment. Thank You.

[Brian Adams]

Hello @Raylor G.!

I'm an agent in the Killeen area that tries to work with investors when I can, and own a fourplex myself on the SW side of town, close to the new Wal Mart and Texas A&M Central Texas campus.

What has you interested in Killeen especially?  

Multi-families in the area do seem to be trending up.  A lot of Austin investors are getting priced out of that hot market and looking more in our area for buy and holds.  Fourplexes specifically imploded during the Recession, even while the area as a whole was mostly unaffected, because so many fourplex owners were out-of-state investors from CA and FL and had to sell in a fire sale, and several were foreclosures.  Prices started rebounding in 2010, though they haven't reached the 2007 levels yet. Now there are almost no foreclosures whatsoever in the multi-family market, and for the most part it seems like owners are hanging onto what they've got.

I have an investor spreadsheet I share. The tab that might be interesting to you is the "Income Approach" tab, that shows average cap rates and GRMs for SFH and multi-families in our area.

https://docs.google.com/spreadsheets/d/1NJhUwMD3M6...

Let me know how else I can help!