Houston fourplex for Out-Of-Town investor

5 Replies

Hello all,  I iive in San Diego and currently work full time so a rehab from afar is not something I am interested in. 

For this phase in my investing, I am interested in a turnkey fourplex to
buy in the near term in the Houston metro area. I have no issues getting on a plane to walk the area with knowledgeable professionals.

In anticipation of your questions:  I am looking to put $75K down.   Cap rate 5%.  I plan to hold the property for 10 years and reassess (likely 1031 to larger).  I am looking to scale quickly.  

 If there is someone in Houston, who is looking at properties in this range, perhaps we can partner and  seek a larger property- I am open to that.

My question for the group:  where do I start in terms of neighborhoods, PM referrals, agents, etc?  What else do I need to consider?

Thanks!

@Dan Raphael

Hi Dan, I am an investor, real estate broker and property manager in Houston. Your plan looks strong. I would be happy to help you in any way I can. I will send you a direct message and all my contact information is on my profile page.

I'd be curious to see if you can find a turnkey fourplex in a decent enough area of Houston to cash flow. I've never heard of residential MFRs there getting much on the cash flow front.

I live in Houston and I'm having a hard time finding any multi family homes for a good deal. Mostly everyone here does single family. I think this market is saturated so I'm having a hard time finding anything worth while.

Dan, 

There are some deals out there as we are funding a 4 plex or so a month.  Reach out to some quality wholesalers and other investors to see what you can turn up.  Reach to me directly if you want some names and numbers.  

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