All Forum Posts by: Paul Gomez

 Still investing in Boerne? Would love to meet investors from back home!

There's other options for option B too, like mobile home parks and conversions. 5% seems low, unless you had a ton of LP equity. If you are ever looking for a JV opportunity in Dallas, I am always looking for private money partners to close smaller deals where we could keep more of the equity and not rely on a big syndication.

Apart from finding an investor friendly realtor, what are you looking to achieve? Are you trying to buy and hold as a rental? Will you live in one of the units? 

The help you need will change depending on your situation, but luckily small multifamily isn't overly complex. I wouldn't lose all hope if you can't find a mentor. There are a ton of good resources on this forum.

That's awesome. Cash flow like this doesn't exist anywhere in Texas unless you get those sweet, sweet off market deals from brokers. This is a major win!

What is your goal here in this market? I am in Dallas as well and I know it can be very competitive. I'd be interested to learn what your goals are and share my personal advice. Everyone's situation is different, just happy to help a fellow investor. Let me know!

To get $10000 per month in cash flow, I’ll make some assumptions

Multiply $10k by 1.25 DSCR to get your monthly net income

= $12,500

Multiply times 12 to get annual net cash flow = $150k NOI

For information’s sake, assume 50% expense ratio, so multiply $150k x 2 to get an EGI of $300k

Assume a Class B in those Texas metros, assume a 5.5% cap, so divide you NOI/Cap Rate to get a value of $2.7M

Assume $100k per unit, so you’re looking at around a 27-30 unit property. Don’t forget about 5% cost to close in addition to the purchase price.

Assume leverage of about 65% on a $2.9M purchase price, you’d need to invest around $1M just to get that cash flow.

There's too many levers out there to get to that number. You need to know the NOI, expenses, how much you can increase income, your leverage and the rate. The commercial side of multifamily can be very convoluted.

Hello BPers. I am an aspiring MF investor based in Dallas, TX. I spent the better part of last year in a mastermind with other operators and syndicators learning the ins/outs of underwriting, networking, and broker relationships. This year I've ventured more into the capital side of the business as well to gain some of those investor relation skills. I am an electrical engineer by day and I am always on the hunt for like-minded individuals who are looking to buy in major TX metros (minus Austin) and in some Midwest markets. I can help with the underwriting and I'm fairly confident I can raise money for deals as well. I typically look for properties in the 8-50 unit range. Happy to connect with you if interested, message me. Let's get a deal done this year! 

Hugo, please connect with my brother. I am a native San Antonian and currently reside in DFW. I have been in a couple of mentorships not as big as the ones you mentioned. I know what you mean though in terms of everyone charging for mentorship. At the end of the day, you have to pay to play especially if you're a rookie. An investment in yourself plus hard work/commitment will set you up for future success. San Antonio is one of the markets I look at, so we could potentially look for deals together as I happen to have a similar buy-box. (8-50 units) I will do my best to share what I've learned so far if you want or need.

 Hey Ilyas, let's connect man. I am here in DFW and would like to know what sort of multi you are looking for, small or large. I also have connections with other operators who actively syndicate if you are looking for a larger asset. Happy to walk you through some of those things. 

Chen, good luck on your search brother. I am only popping in here to say that the mastermind I am in has been a wonderful resource and method of networking with operators and capital raisers. Please reach out if it's something you think you'd be open to. It's not some big gure group, it's a small group for down-to-earth people just trying to help spread knowledge.