All Forum Posts by: Michael Dang

If you are interested in targeting class D areas then I suggest a good property management company to do the heavy work.  Sharpstown has a ways to go but overall it's trending up slowly.  

If you carefully tenant screen and strictly stick to certain qualifying criteria you can find good tenants.  However, that comes with experience.  But be prepared for the worse.

@Mark Allen Hopefully, this gold mine is still producing. If the offer is still good then, could I get a copy?

Congratulations to 13!  Long Live BP!

Awesome that your excited about investing. While you're driving or walking your dogs, listen to some mf podcasts.   Here's a few I listen to. Old Capital Michael Blank Kevin Bupp Sometimes if you can't find a group, maybe you can form a Meetup in your area that's specific for your goals. Plus, it's a great method to network and gain more knowledge with other local investors. Never know where it may lead.

My suggestion is to focus on a certain market and mf subclass in Texas.  That will help the BP community possibly answer your question.  Just like Tennessee, TX is a big state.

If you want the whole enchilada then contact with of the big players.  CBRE, Marcus & Millichap, Transwestern, etc.

Give Evan Howell a call.  They work with small multi-family.

http://evanhowell.com/

The hourly rate is not out of line for a solid attorney. 

Originally posted by @Steve Olson:

Does anyone have a really great photographer they like?  Specifically one that does great worth with overhead drone shots?  Need footage taken for a project in North West Houston...

 I know it's kind of late but contact Strata.  They are new so they have promo package prices at the moment.  They do good work.

https://stratacd.com/

I agree to factor in a property mgmt fee of 8-10% per unit.  Repairs # are low.  Are you factoring or adding capital for improvements to try and increase the rent and thus increasing the value of the property?  Are the rents under market?  Couple things to consider in your analysis.

Truly think about your risk tolerance level and personality.  Do you trust people and have you formulated a method that works for you on how to build trust?  How much time are you willing to dedicate?  Do you have a detailed business plan?  Do you have contingency plans in case the investment isn't working to right the ship or exit?

To support Michael Le's comment, building a strong TEAM is important.

Real Estate agent, Lawyer, Mortgage Broker, Property Mgmt Company, CPA, etc.