All Forum Posts by: Hayden Harrington

@Deo Sanders have you looked outside of the loop? It’s pretty hit or miss inside the loop but you can definitely find deals. We are in best and final on a deal in Spring and are looking at a few others on the north side of Houston at the moment.

@Gerardo Escutia

Hard money is very common on multifamily deals, especially as you go bigger. Currently during the pandemic some markets are seeing deals trade without it, but in hot markets it has been consistent. We’ve seen $1M hard day one in Austin recently, even with everything going on. 1-2% is typical but some groups use even more to ensure they win the deal.

@Chris Salerno

Hope you are doing well, Chris! We are focused on the major Texas metros and some secondary Texas markets as well.

Taylor,

Appreciate the warm welcome! 

We've seen all time high collections in B & C class properties. On the acquisition side, we are currently shifting our focus to newer product, because sellers are not giving any sort of discount on C deals and we think there is elevated risk for those properties moving forward. On the flip side, new construction deals have construction loans that they need to get out of and often have multiple projects going on at once. That creates a lot more motivation to make a deal happen. Hard money is hit or miss and largely market dependent right now too, so we are looking for a blue ocean instead of places like Austin that is a bloodbath right now! 

I drive my plain Jeep Wrangler to properties and to the surrounding comps to secret shop them. I never want something that will draw a lot of attention. A lot of times, the current property management isn't aware of a potential sale taking place (especially deals that aren't being toured), so you need to be aware of that and respect the current employees. Nobody wants the rude awakening that they may be out of a job soon if there is a switch in management after a sale. 

Hey everyone!

My name is Hayden Harrington and I am a DFW based multifamily syndicator and partner at Momentum Multifamily. My business partner (Dustin Miles) and I are actively submitting offers on 100+ unit complexes around the state of Texas. Our primary focus are the major metros, but we are exploring some select secondary markets as well.

Due to extremely compressed cap rates & excess competition, we are shying away from Austin and looking for opportunities in other markets at the moment. Dallas & Houston are the primary focus with an eye on opportunities in San Antonio as well.

Would love to connect with other real estate professionals and those looking to get started investing in Texas multifamily assets! Looking forward to connecting and excited to be a part of this awesome community!

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Thank you,

Hayden Harrington