Looking for my first MF rental property.

[Travion Clark]

Hey yall me and my wife will be moving to the Fort Worth area in early November. I make a decent income having a podcast and i have "good" credit score. I've been looking on realtor.com and running the numbers and I have yet to find a deal that produces a positive cashflow or a decent ROI. Any advice for finding a decent turnkey deal? Id love to knock it out of the park on my first try but I know that unrealistic so i at least want to get my feet wet with a deal that works. Also do yall recommend a FHA loan or a conventional loan?

[Joe Funari]

@Travion Clark I have lived in Ft. Worth for +12 years and own many rentals in the city. I also have helped other investors buy and sell investment properties for several years. The market is very competitive for multifamily investments here. Your getting outbid on many occasions by REIT's and other seasoned investors that are both offering cash. But I would recommend you get qualified for a convention loan versus FHA. It has been my experience an FHA offer get accepted on a multifamily with so much competition. But I recommend you reach out to @Andrew Postell to discuss lending options for you. He is a fellow investor and great lender that can discuss all the options with you. Especially, occupancy requirements if your going to live in a multifamily. Which creates another challenge of finding a multifamily listing that has one of the units vacant at time of purchase in order for you to occupy. I would strongly recommend you work with a Realtor in your search for a property. I would even suggest looking in to Single Family Residences (SFR) too. You can always move out once you acquire a multifamily. To put it in perspective I just looked in MLS for all available multifamily listings in the city of Ft. Worth. There are only 19 active listings ranging from $250K to $1.7M list price. So not a whole lot of inventory. Thus, the agent you select should know the market, preferably a fellow investor too, and have A LOT of patience in helping you run sold/rent comps and putting out a lot of offers for you. But don't get discouraged. You will need patience too. You will eventually acquire an investment property.