I'm looking to invest in a multifamily in houston and I was wondering for those who have this type of property in their portfolio what areas did they invest in and why?
The multifamilies within my price range 300-400k are located in slum areas and the ones that are in better neighborhoods don't tend to cash flow.
I feel like from the multifamily choices I have found the choice is either to be a slum lord and cash flow big or no cash flow and bet on capital gain.
We all know houston prices are going through the roof so the way I see it is that its a matter of time until the property prices shoot up especially downtown houston.
I may be more conservative than some investors, but I never count on appreciation, even in a rising market. If it happens to appreciate, great, but if it doesn't cash flow, I can't afford it. It's what I call a black hole -- it will suck money out of you on a constant basis!