Where are all the multi-family units?

Question

I'm looking to get started in multi-family, but it just seems like there are NO duplexes - 4plexes anywhere anymore. I'm in DFW, and I'm looking throughout the Metroplex (except in Dallas), but there just seems to be nothing anywhere. Suggestions?

Guy Azta · Answer

@Glenn Mayo - I'm not in your market, so my reply would be limited in scope. I'm also a multifamily investor (and new to BP btw), and things have changed. It is no longer easy to find decent cash flowing properties, at least based on my several years of experience. We are no longer in buyers market. It seems that properties sell at higher valuation and require more money. I'm assuming you were referring to that aspect. If you were simply talking about searching for properties for sale and not seeing any, you may want to make some contacts with realtors in your area, who will supply you with new listings, off market listings etc. As a California resident, I invest exclusively out of state, and have different sources in different markets I get listings from. I also use Loopnet, Zillow, Redfin and others. There's really no shortage of platforms.

There seem to be shortage of inventory now, and that could be factor of the time of the year. More properties may be up for sale as we get further into the year. Time will tell.

I looked into investing the your market a while back. I'm sure it's a great market. Was a bit overvalued to my taste and it's probably still the same. If you're comfortable looking outside your immediate area, there may be other Texas cities with more inventory, and based on what I've seen Oklahoma may be of interest. Lower property taxes for one, and there seem to be relatively good deals there. I just reviewed a brand new duplex for sale there. At least worth checking out

Hope this helps

Joseph Gozlan · Answer

@Glenn Mayo there are many duplexes and fourplexes on the MLS in DFW. I'm not sure why you can't find them (for example, there was a new 4plex that came on the market in Garland today).

I'd recommend you find a real estate agent that specializes in working with investors and they can set you up with an automatic search that will email you every property that comes up on the MLS daily.

If you wonder how to qualify the agent, just ask them how many properties they own. If the answer is zero, move on to the next agent!

Harrison Liu · Answer

sorry I have seen, not me posting it.

Harrison Liu · Answer

search DFW real estate investment on face book. I have multi-family deals posted.

Harrison Liu · Answer

search DFW

Glenn Mayo · Answer

I've just been looking on Craigslist and on various brokerage websites, like Keller Williams, Century 21, Sotheby's, etc.