Does anyone here own or invest in larger multifamily properties?

I've been giving some serious thought and research to trying to invest in/buy an apartment complex deal at some point in the future. I'm picturing something with 20+ units so that you can really scale your cash flow with bumps in rent.

Looked at several duplex deals and when running the numbers, the returns just really don't get me up in the morning for the headache of being a landlord.

Obviously having the capital for a down payment is one of the key factors, as well as having to compete with the 'big boys' in the commercial space.

Ideally I think a $3-4MM deal with anywhere from 2-4 partners is a realistic target(for me). It obviously has to be the right property with a solid NOI, cap rate, occupancy etc...

Anyone have any experience or interest in apartment real estate? Where do I start? Where are the best markets for apartments? I'm in Houston.

Read "The Complete Guide to Buying and Selling Apartment Buildings" by Steve Burges. Also, start listening to some podcasts from Old Capital. I have started looking myself and one thing I have learned is that knowing the right people is super important. Call some brokers, meet some lenders, and go to some meet-ups. I've also learned that it is super competitive right now with "okay" returns. Good luck.

Shoot me a PM or email and I'll connect you with someone who syndicates deals like you are describing. He's in Houston also, but does MF deals in Texas and Louisiana.

Following. I've got a few SFH, and interested in getting into larger multi family

I'm not an investor but I work in multi-family and see/work with people or groups just like that, all the way from smaller one off deals to multiple thousands of units. Feel free to PM or email me at username at gmail and I'm happy to talk to you about the industry and make some introductions.

OP, I do acquisitions for a firm that buys and manages 200+ unit complexes. I'd be happy to meet up and give you the low down.

If you want to avoid the landlord headache, there's a lot of money to be made being an equity investor in multifamily.

I'm not an investor...yet. But my stepfather owns a 175 unit complex in Houston, and he severely limited himself by being a DIY landlord. You've already covered that thought, but figured I'd reinforce it for you.

One thing I fully believe in, as it pertains to apartments, is that a willingness to invest in a market outside of your local residence will greatly open opportunities. I've looked at a number of deals, just putting pen to paper type things, and Houston is very tough right now.

mazag08 said:

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OP, I do acquisitions for a firm that buys and manages 200+ unit complexes. I'd be happy to meet up and give you the low down.

If you want to avoid the landlord headache, there's a lot of money to be made being an equity investor in multifamily.

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What's typical capital requirements on the equity side? Would also appreciate being able to chat.

I posted about a networking event in Ft Worth we were asked to speak at.

Thread was zapped.

Don't know why though, we don't syndicate, and don't have a product to sell.

We currently have +~ 180 doors. Will be closing on 80 more this month.

We buy highly distressed assets that are being mismanaged and refi out at 50% or less on a 9 cap.

Due to the 20 year 6-6.5% loan that's the only way we can keep our DSCR at a comfortable level of rents were to soften, although that's unlikely at $800 a month and less rents.

My name is Corey Thompson. Feel free to look me up if you'd like more info.

mazag08 said:

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OP, I do acquisitions for a firm that buys and manages 200+ unit complexes. I'd be happy to meet up and give you the low down.

If you want to avoid the landlord headache, there's a lot of money to be made being an equity investor in multifamily.

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mazag, how are your equity deals structured? Holding company or individual property level?

What's the minimum investment and projected return?

If you prefer email discussion let me know and I'll post mine.

texrover91 said:

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mazag08 said:

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OP, I do acquisitions for a firm that buys and manages 200+ unit complexes. I'd be happy to meet up and give you the low down.

If you want to avoid the landlord headache, there's a lot of money to be made being an equity investor in multifamily.

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mazag, how are your equity deals structured? Holding company or individual property level?

What's the minimum investment and projected return?

If you prefer email discussion let me know and I'll post mine.

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These are the same questions I have.

Individual property. Minimum investment depends on the deal. Ill shoot y'all an email and I can discuss in more depth. I'm not here to advertise and don't want to step on toes.

itsyourboypookie said:

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I posted about a networking event in Ft Worth we were asked to speak at.

Thread was zapped.

Don't know why though, we don't syndicate, and don't have a product to sell.

We currently have +~ 180 doors. Will be closing on 80 more this month.

We buy highly distressed assets that are being mismanaged and refi out at 50% or less on a 9 cap.

Due to the 20 year 6-6.5% loan that's the only way we can keep our DSCR at a comfortable level of rents were to soften, although that's unlikely at $800 a month and less rents.

My name is Corey Thompson. Feel free to look me up if you'd like more info.

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NSFW

I'd love to hear more. Sbmachell@yahoo.com

mazag08 said:

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Individual property. Minimum investment depends on the deal. Ill shoot y'all an email and I can discuss in more depth. I'm not here to advertise and don't want to step on toes.

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jack black 01 at iCloud dot com

Thx!

Also interested

Username at gmail dot com

Would love to talk to you about what my company does and how I can help you out. Shoot me an email when you get a chance. Username at gmail. Thanks!

Would love to talk to you as well if you would be open to it. Username at gmail. Hope to hear from you!

If anyone is ever looking for some help with placing debt on your MF properties, I work in Agency lending and could help out.

PM Me.

Not to step on Snow's toes, but if anyone is looking for any other types of debt let me know. I work in the Houston's and we are doing a ton of debt fund, agency, life co and bank financing with our MF transactions. Username at gmail.

I am Listing a 30 unit apartment today in college station if anyone is interested. Built in 2009 all units are 2 bed 2 bath, granite, eating bar, spacious bedrooms. 90 parking spots.

If anyone is interested in more info email or call me Ryanderk@bhhscaliber.com / 979-268-3522

Bigderk21 said:

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I am Listing a 30 unit apartment today in college station if anyone is interested. Built in 2009 all units are 2 bed 2 bath, granite, eating bar, spacious bedrooms. 90 parking spots.

If anyone is interested in more info email or call me Ryanderk@bhhscaliber.com / 979-268-3522

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Just curious what the value and cap rate is on that deal?

CPD: I run my own private equity syndication business, and have been involved in 4000+ units of multifamily either as a syndicator or passive investor. I'm also a Senior Director with Old Capital. I'm based in Austin, but can assist with financing nationally depending on deal size. I'm pretty familiar with Houston, having equity in a few deals there (still have one east of downtown). Feel free to email me....my email is under "Team" on our website: boxwilson dot com (my last name is Box). Happy to chat sometime.

gig em 02 said:

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itsyourboypookie said:

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I posted about a networking event in Ft Worth we were asked to speak at.

Thread was zapped.

Don't know why though, we don't syndicate, and don't have a product to sell.

We currently have +~ 180 doors. Will be closing on 80 more this month.

We buy highly distressed assets that are being mismanaged and refi out at 50% or less on a 9 cap.

Due to the 20 year 6-6.5% loan that's the only way we can keep our DSCR at a comfortable level of rents were to soften, although that's unlikely at $800 a month and less rents.

My name is Corey Thompson. Feel free to look me up if you'd like more info.

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NSFW

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Damn ol son.

About to close on another 100 doors in the next few months.

86 next week

https://www.facebook.com/propelioapp/videos/1108054756033488/

itsyourboypookie said:

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https://www.facebook.com/propelioapp/videos/1108054756033488/

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LOL is that you?

Email me when you get a chance - email should be above - thx!

did anyone ever hear from mazag08?

Meant to reply to this when the thread was originally started, but I also work with a group that does multi-family syndications mainly in the Dallas area. I started out as a normal passive investor like a lot of you and have gotten more and more involved over the years. Feel free to PM me a phone or email and I'll be happy to discuss all things multi-family.