It was built in 1965, 4 2bed/1bath & 2 1bed/1bath.

So here are the numbers....Property sale price is $11M (50 unit built in 2017, 98% occupied, rents on par with market)Rental income totals $860K (rents plus all fees and garage rentals)Expenses total $240KAble to secure a 75% LTV mortgage at 4.85% (30 yr amortized, 7 year then balloon) coming to $522KThis leaves $100K for the year. 

Understood....reach out to me if you want to meet while your in town.

I'll be an out of town landlord so I want to make the transition smooth.How did you deal with transitioning the rent collection?

That being said, we are starting to see some increased CDOM/DOM for the higher-end development deals here in the affluent areas of town, because the numbers don't work.  

There were roughly 350-400 that came up between Friendswood, League City and a few of the surrounding towns (All of which have pretty strong markets). 

I am considering a new town home as a starting point and would love any advice around that as well (if it's a bad idea / gotchas around that).Regards,Soup Nikk

It was a stepping stone process and along the way, I built up more private money investors, more sub contractors, more GC’s, and more suppliers with better discounts.Look more RE into building the business and less into how much labor your husband does on the jobsite with his own hands.

Can anyone recommend towns in Dallas good for multifamily investing?

It looks to me that is a good deal (330K in one of the best zones in town).