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.
@Keng Ng You'll need to contact a commercial broker in Houston to help you evaluate the cap rates and the condition and performance of the property.
@Keng Ng I can help you out with that. PM me if you would like to connect.Thanks.
@Jeff Richardson what is a good cap rates for southwest houston?
Why do not you check the tax payment history? Get in touch with a real estate agent that allows you to obtain that information. @Keng Ng
@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.
@Camilo Rey yes I did, but they tax rate is very low. is that possible? that's why evaluating the apt property is not as straight forward as SFH.
@Jeff Richardson thanks Jeff. you are right about the property might not be going on to the market. He person who told me said that the owner might and not put it on the market, and he is helping him to sell it off market.