Updated over 8 years ago on . Most recent reply
Houston Area RA Help
I am new to BP and investment properties. I am looking for recommendations on local Houston RAs who have experience in smaller multifamily investment properties. Does anyone have any recommendations?? Thanks!!
Most Popular Reply
@Brendon Morin There are good deals to be found in Houston for multifamily properties but there are some issues you need to be aware of. First, there are very few in each part of town. It can make comping very hard to find a good value on each one. The second issue is getting it appraised. Since there are so few good comps, it is difficult to know where an appraisal's number would be. I was once looking at a triplex that was being offered for 350k and I had a friend of mine, who is an appraiser, tell me his number would be close to 250k. This means I could only get financing on the 250k and I had other opportunities that made more since.