Real Estate Agent · San Antonio, TX · Member since 2018 · 37 posts · 10 votes
This question is mostly for the Central Texas region, primarily San Antonio. My bread and butter has always been single-family and small multis but I figure this would be a prime time to start considering acquiring apartments specifically in the 4-20 unit size at a good deal. Anyone actively doing this? Curious to hear from all avenues, lenders, agents, investors, etc.
I was thinking of looking around the Downtown San Antonio region. Really liking the Tobin Hill, Alta Vista, Mahncke Park areas.
In my business we moved from distressed assets to more stabilized properties with value add opportunity. Think of it as moving from C class to B class. We just found that the pricing on distressed assets had gotten too high to justify the risk. However, I'm certain there are still folks going for those opportunities. It's just critical to buy at the right price with plenty of reserves, particularly when you know there's going to be a lot of capex.
In my business we moved from distressed assets to more stabilized properties with value add opportunity. Think of it as moving from C class to B class. We just found that the pricing on distressed assets had gotten too high to justify the risk. However, I'm certain there are still folks going for those opportunities. It's just critical to buy at the right price with plenty of reserves, particularly when you know there's going to be a lot of capex.
In my business we moved from distressed assets to more stabilized properties with value add opportunity. Think of it as moving from C class to B class. We just found that the pricing on distressed assets had gotten too high to justify the risk. However, I'm certain there are still folks going for those opportunities. It's just critical to buy at the right price with plenty of reserves, particularly when you know there's going to be a lot of capex.
Thanks Taylor! Is your strategy change mostly due to the pricing factor or is there another reason for it? I suppose a lot more investors went into these types of distressed properties over the past couple years.
This question is mostly for the Central Texas region, primarily San Antonio. My bread and butter has always been single-family and small multis but I figure this would be a prime time to start considering acquiring apartments specifically in the 4-20 unit size at a good deal. Anyone actively doing this? Curious to hear from all avenues, lenders, agents, investors, etc.
I was thinking of looking around the Downtown San Antonio region. Really liking the Tobin Hill, Alta Vista, Mahncke Park areas.
I would say we are still buying Distressed MFH alot of brokers are trying to sell them at a price that makes it hard to justify the price. it all comes down to the price like everything but i would say for most of us yes we are buying
This question is mostly for the Central Texas region, primarily San Antonio. My bread and butter has always been single-family and small multis but I figure this would be a prime time to start considering acquiring apartments specifically in the 4-20 unit size at a good deal. Anyone actively doing this? Curious to hear from all avenues, lenders, agents, investors, etc.
I was thinking of looking around the Downtown San Antonio region. Really liking the Tobin Hill, Alta Vista, Mahncke Park areas.
I would say we are still buying Distressed MFH alot of brokers are trying to sell them at a price that makes it hard to justify the price. it all comes down to the price like everything but i would say for most of us yes we are buying
For sure, I do realize they were asking crazy prices and people we're still buying. Fortunately things have changed in these past few months. I'm getting close on a couple deals so I'll give be reaching out to you guys!
Alejandro, I have put together some plans for an 8 plex with 4 units as 3/2 and 4 units as 1/1, the plan is to build these as investments for other RE investors so they don't have to keep hunting down deals. We create the deals for them. Keep the asset for 5 years and build several more just like it, controlling costs and reducing expenses along the way. Once we have 80 or so units built, we package it and sell it to a bigger REI firm that buys these types if assets. I have another building type that is 2/2 and 1/1 in the same building. I am working on an all 1/1 building for student housing in cities that are low on that type of housing. Im looking for investors ready to get out of hunting down the few assets out there. Looking to connect with investors ready to create their own investment vehicles.