Multi family Property Search Question (Texas)

3 Replies

Looking to purchase my first multi family and I've analyzed 50 properties and maybe found 4 cash flowing ones in Austin. At this point I'm ready to just purchase a single family when the recession.

Any tips for how to go about locking down a cash flowing multi family in Texas? (San Antonio, Austin, or Houston)

@Joseph Gaffney if your crystal ball tells you when the market is going to change please update us! That's just the reality in most US markets currently. You have to find an opportunity or make aggressive offers, there aren't good deals just listed ready to be cherry picked. Start making offers and you'll get one! I picked up a great one in east Austin last winter.

If you go fishing where everyone else is fishing, you might catch one or two, but thats it. In other words, dont use MLS like everyone else. Right now too many fishing in the same area.

Do your own marketing. Find the motivated sellers. When you can figure that out, you will have plenty of deals. YOU have to figure out what kind of marketing that you want to do.

In Austin look at fourplexes on the east side. There are still plenty out there that cashflow, although they're gradually getting rarer.