Multi-Family investor looking to invest in the Dallas Metro area

[Adnan Shawkat]

Hi All:

I am a Multi-Family apartment investor.  I have a few projects in the Portland Area but am looking to expand into the Texas (DWF) market.  Would love feedback from experienced multi-family investors that have invested in the Dallas Metro area and could provide us with some guidance. 

Thanks.

-Adnan Shawkat

[David Thompson]

Hi Adnan,

Not sure what guidance you are looking for but we find Dallas an attractive market for MF primarily due to the strong economics of the area.  Like any city, there are submarkets that are doing very well and some not so.  We specifically like the north side of Dallas along the I-635 loop.  The market is highly competitive but the job / population fundamentals have been strong and look to remain so.  You want to be looking for value add deals.  If you are looking for smaller properties, I'd definitely get plugged into some of the local investment clubs and take some trips here meeting the investors, property managers, brokers that know the area well and can provide further guidance.  This is especially true for active money.

For larger projects and passive money, I'd look at some sponsors that are very active in the area, have deep experiences on where to buy, what to look for and how to add smart value.  They should be conservative in their underwriting and have a strong track record of performance.  I especially like this latter play for out of state investors looking to learn and earn, w/a longer term plan of staying w/this program or venturing into their own deals as they learn from more experienced players.