Do we have any apartment investors (100+ units) from El Paso, TX?
I have an opportunity to invest in an El Paso deal and I wonder if there are any special risks I should consider. The sponsor is good but he is not local - that's one specific risk I know of.
What are the cap rates there for C class properties?
What areas are considered high quality (within C space) by locals and what areas they avoid?
Hey Nick if you'd like I have a contact for a realtor in El Paso who has lived there the majority of his life. He should be familiar with all the areas. Just send me a message and I can give his contact info to you. I'm actually looking to partner up with him in very small 4 unit deals, I'll be interested as well if buying large multi families there are a good idea.
From what I know the El Paso economy has not been doing well and is heavily resided by the military.
Hi Michael, does that realtor specialize in large apartments (100+ units)? I need someone with this particular expertise. Thanks
He does manage I believe a 20-30 unit apartment complex there and knows the area quite well if that helps. He also owns a large commercial building in which he runs his ballroom business for Weddings, Quinceanera's and so forth.