All Forum Posts by: Bill Vaughan

IT really depends
how handy are you(my wife and I are not, thankfully we found a great property manager that saved us a TON on repairs)
what is your financial situation?(do you have a steady job, cash in the bank)
what is your risk tolerance? Are you willing to sweat nights if you leverage more than you can afford?

Personnally we started with SFM one house at a time we bought one got it rehabbed got it leased then bought another, Since we are comfortable with our management company we just bought 2 more. One of the benefits of a string property manager in a big city is that you can look and buy in multiple areas without worrying about whether you can manage them all. We now have 4 properties in 4 cities and none are within 30 miles of home.

Also, you might want to consider getting a real estate license. I did and think it was money well worth spending.

Anybody know anygood multifamily agents in DFW?

I thought I gave enough info 40 plus units 350-400 square feet 550
the rest very small 550-600 2 bedrooms I believe 650

Grand Prairie

I am looking at a 50 something unit complex here in DFW that is in a stable blue collar area. The units are all small (350 square feet) and all bills paid. It is apprximately 65% leased and the average security deposit appears to be a half months rent. Do you think this complex would be easy to lease and keep leased? The asking price is around 700. Any comments on valuation would be appreciated as well.Supposedly the property is cashflowing but May's expenses showed a loss.

You probably have asbestos exposure considering its age.My family bought a 12 unit deal that lost it's certificate of occupancy and we ended up gutting itafter finding out from the property manager that there was asbestos

I would ask your local multi-line insurance agent. They will shop it with multiple carriers. You can also call your local apartment association(probably state level) and I would guess they would have the names of some brokers that specialize in apartments

I would contact at least one multi line independent insurance agent that is local(not a State Farm that only does State Farm insurance)