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.
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.