All Forum Posts by: Natalie Wells

@Greg Scott thanks for the response. This is helpful. What stabilized proforma cap rate do they expect to get to?

We are continuing our research and looking at multi-family deals in TX as thus far all our multi-family syndication deals have been in Seattle. I know there are a ton of Dallas investors and agents on bigger pockets, so hoping to get some great insight. I would like to get input as to CAP rate. If someone has a class B to C apartment building- stabilized property with market rents in place. Not a value add.
What CAP rate have you seen on properties sold? 7-15units range, desirable areas in Dallas. I know this is a really wide range but are just looking for insight and a general idea. THANK YOU!

Best,

Natalie

Plus One Sydications

@Stephen Stokes my point was as long as there is enough value added potential to bring it up to a 6 Cap or better on proforma then there is an opportunity. I do see your point though as well.

@Jacob Pereira thank you so much for your insight on the area. We really liked that specific area but we are also open to others.  We would love an introduction to a commercial broker! Thank you!

@JordanMoorhead thanks for the info. I've heard great things about San Antonio as well. We are checking out more areas of Austin as we do our research. These cap rates seem to be very similar to Seattle in many ways, which doesn't scare us but not ideal obviously! Do you have any specific further north areas you in Austin?

We currently buy multi-family in the Seattle area and are finishing up a project we will be selling this summer. We are looking to 1031 into ideally a 8-12 unit value-add type property in Austin before the end of the year. We typically buy older buildings that need a face lift and also love properties that we can not only transform but also add bedrooms to the units. Our last trip (and first trip there) we really liked the Hyde Park area and close surrounding areas. We are looking to connect with any commercial brokers and wholesalers that focus on smaller multi-family and also gain any insight from those that might own multi-family in the area or surrounding areas, what you have seen in pricing, rents, goods/ bads of areas, any insight at all. Also recommendations on property management/ contractors, etc we would gladly take too! We have never taking the plunge of an out of state investment but excited to do so and start the journey. THANKS!

Hi All!! Would love to get some insight/ feedback/ recommendation/ suggestions on our situation of a recent purchase of a fourplex in the greater Seattle area (also any lender recommendations). We have a fourplex purchased through private money loan (short-term 60days) and we need to refinance it into a regular loan. Our partner is having issues with qualifying for a loan (through any credit unions which is normally our path for financing) given current debt with other properties. So how difficult is it to qualify for a loan purchasing an investment property? (here is a little more insight on our financials).

My husband and I are both W2 employees (5 years+). Income is around $200k, possibly a little more, with a raising coming shortly. Credit is 750+. We own a primary residence in another state with a debt of $250k.  Our other debt includes student loans/ car loans about $100k. We have about $100k in stocks/ 401k. We have not purchased any investment property previously under us. This fourplex/ townhouse style consists of 3 units rented and one vacant and will need a full rehab, with very low current rents. Currently valued just under $1.1mil. The proforma rents will put it at an income a little over $8k/monthly after rehab and a value of around $1.6mil. Current loan debt is $860k and we are hoping re-finance it. 

Anyone who understands the financing with qualifying for investment property, I would welcome insight to us for qualifying for this, I don't know if we are completely shooting for the stars here and if it's even be possible with our income/debt. I would gladly take any recommendations of anyone to speak with for lenders!!

I will take any thoughts and suggestions!!

Thank you all!!

Best,

Natalie

@Kyle Mccaw and @Andrew Postell thank you for the help! @Andrew Postell I will send you a PM and will definitely look more into the forums as we are learning and navigating through the TX market! Thanks again!

@craigyarnell thank you! We have just been here a few months but loving it so far! We are open to both depending on the number, but more likely a value-add type project (light rehabbing- replacing cabinets, carpet, paint, fixtures, that type of thing). 

We have only previously been involved with investing in the Seattle area. We have recently moved to TX and looking to purchase our first 4plex here in the Dallas/ Fort Worth area. Would love to get some great recommendations on lenders/ Credit Unions for those who are currently investing in TX. We typically have built great relationships with Credit Unions in WA. Thanks!