Finding Value in Residential Multi-Family

[Stephen Stokes]

Interested to hear where most folks that are buying long term multi-family residential are finding value right now. I am looking for a 2-4 unit with conventional financing to add to my portfolio. Seems to be difficult to find IRR in the teens in any decent areas. I have been searching through traditional agent site. Looking to learn from others that have more holdings than me (2 properties currently). Thanks

[Andrew Campbell]

@Stephen Stokes  We own 72-units between Austin and San Antonio in our personal portfolio--most of that 2-4 unit buildings, and have had the same long-term goal.  Everything we've purchased in the last 2 years has been in San Antonio because we haven't seen anything in Austin that will cash flow. 

We primarily buy South Austin (78745, 78744, and 78704) but have had more success in San Antonio. Good luck!