All Forum Posts by: Sanjoy V.

I am looking for referrals or suggestions for any active and good multifamily real estate agents Or brokers in Texas. Any experience, recommendations how to find someone good? Hard to find the 50-100 multifamily deals and someone who does it, LoopNet is not very useful. Not sure if there is other places I should be looking at?

Needing advice on apartment...

I am looking at a 50unit apartment which is at a low cap rate of 4.5%, 6 million. Initial cash flow probably tight, but has upside potential with local community college huge expansion underway. This will bring traffic and community. Its close to desirable area downtown, but not in downtown.

Property itself is built in 1960s and has upside potential with renovating it both interior and exterior. The tenant mix isn't great when I drove by, low income and section 8. Worry about crime and limitations in increasing value.

Question is, if it is easy to renovate with tenants there already and increase the rents, by few hundred, which can drive out old residents and turn around the apartment and reputation.

Its probably looks like class C/D apartment in decent neighborhood, but just this block itself is out of place and kind of has run down look; even if I upgrade the apartments which may be 10-15k a door, plus some exterior upgrade, it still won't change so much the neighboring property which has some open parking lot and is trashy and some art store which is trashy.

Not sure where I'll go with this without experience, but just really wanting to invest because I see this has so much potential with being close to downtown and in middle of huge college expansion. But I am worried about my lack of experience and the tenant mix and the capital investment with these buildings which could have major problems, plumbing/cooling/structure/roof.

Thanks for your replies in advance.

Hello BP,

I know in general, most recommend using LLC when buying property to some way to limit your liability from the property.

1. Any disadvantage of LLC over owning individually?

2. Do you get less preference from lenders in terms of terms and APRs when using LLC vs individual borrowing?

3. I am assuming there is a tax benefit to own under LLC vs

Hello BP,

I am new to real estate investing, and I live in Austin, TX.  Learning my way around here, from finding right lenders to finding the right property in Dallas/Austin/San Antonio market.

It has been hard to find Multifamily listings, there are some on Loopnet, but I feel like I am missing out on other sources? 

Good number of them are probably sold outside the market listing websites etc? 

Showcase.com may have some, but costar that hosts, needs subscription.

Looking for help in how to find Multifamily listings >30 Units in this market? other resources?

Thanks!