How to buy an Apt complex in Houston?

[Keng Ng]

Hi Houston Experts,

There's a potential apt complex in Houston area for sale, however, I have been searching online, and there's no historical data of the last sale and also comparable. I need some advise on how to do my research if the property is a good buy or not? 

Any help will be greatly appreciated.

Thanks

Keng

[Jeff Richardson]

@Keng Ng Cap rates are going to vary based on location, client base, age of the building and other specific information of a submarket. I would reach out to as many Commercial brokers as possible and just get their perspective of the market as a whole, the submarket you're looking at and especially the property you want to purchase. Many complexes never make it to the market and brokers sell them as pocket listings, if brokers don't know you're a buyer and can close, you won't ever hear about them.