Hello All....I was wondering about the Texarkana region of Texas for investing in Multifamily property...I don't know the area and I was just wondering what the opinion is of the area....is it a dead zone or does it have potential for some future growth or at the least, a good place to invest for stable cash flow.I spoke with some brokers today and I got two very different viewpoints...one guy flat out said it sucks and my money would be better spent elsewhere and another painted a rosy picture with lots of business and transportation going on in the area...I would love to get the opinion from people here on BP as I value my fellow investors in the area with boots on the ground.I realize its not one of the hotter markets that is in the news all the time...I am looking for a good stable market that isn't dying and has potential for at least some future growth.....thanks for the helpJeff

North Minneapolis can look pretty tasty if you're only seeing the numbers, but crime rates there are (I think) the highest in the region.  

My goals are to first learn the methodologies that have proven to benefit investors in the two Sarpy and Douglas county regions and position myself to have more options in the future when opportunities to diversify my portfolio are discovered.I am looking forward to mingling with all of you both in-person and via the online community.

I'm focused west of the city but still feel like the fundamentals for cashflow are there and also for long term strength in the regional economy.Were you in a bidding war, did you feel like you had to overbid the asking price to secure the property?  

Does anyone have experience in buying a lot and installing a prefabricated home and selling the property in the Texas region? 

I understand that each property is very different and regionally labor rates and costs can vary, but just looking for general info on estimating. 

Are there active investors in this region?

Some banks will do commercial loans with shorter/no seasoning, best way to find out is to start making phone calls to local/regional banks.

My lender is a small regional bank (Spirit of Texas Bank) and instead of endorsing the check and allowing me to deposit into my own account, has set up a reserve account for the funds. 

I have spoken to a number of small and regional banks in the area including a credit union and they are all putting up 1 or 2 of the following walls:The home needs to be deeded in your personal name for 6 months in order to seasonYou need to show 6 months of monthly payments to your lender12 months seasoning in order for the LTV to be based upon appraised value instead of purchase priceSo now I feel like I may only have a few options while my 12% interest is accruing:Try to renegotiate more favorable terms with my private hard money lenderChange the deed into my personal name and suck it up for another 6 months.