All Forum Posts by: Michael Dang

There are brokers that do have good relationships with all the agency lenders and can help you navigate the waters.  Their experience and guidance can help you make a sound decision.  I have a couple recommendations if you like but they based in TX.

Ethan's recommendation is good.  Quest Trust and Jet Lending has a number of meetup they organize themselves and are informative.

I have a slightly different opinion, broker's do more than just post to LoopNet.  Often times, they don't post on LoopNet but as Cody mentioned, broker's do send to their buyer's list and market the property off or on-market depending on their experience and seller's feedback\wishes.  Broker's spend time analyzing the deal, create offering memorandums & proformas, justify a BPO, and etc.  I'll send you a message and can offer a few referrals based on your criteria.

Ways to find multifamily brokers is to look at loopnet and crexi websites for those markets to obtain the broker contact info.

Subscribe to some of the brokerage firms lists such as Marcus & Millichap, Newmark Knight, Colliers, CBRE, and others.

Mortgage brokers and local bankers also know a lot of brokers as well they can refer to some.

Here's a free resource to analyze different submarket bu unemployment, income, rent, etc.  Department of Numbers

Don't forget to look at the school rating and crime trends and statistics over the last 5-10 years.

@Benjamin Carver - Spend a solid week in Houston and visit the different areas in Houston.  I think there are solid deals in other submarkets that you maybe overlooking.  Plus spend some time on collecting and looking at data.  Crime rates, median HH income, median HH value, schools, walkability score, flood maps, demographics, population growth rate, and etc.

I prefer and this is my personal opinion Wordpress.  Lots of templates to choose from and support.

Just getting started, keep it simple.  a simple one page website is sufficient until you grow and inexpensive. Keep in mind you will need to purchase a domain and simple webhosting.  Which isn't that much.

Houston-area apartment rents continue to fall amid COVID-19 in May

"Houston-area apartments saw another month of declining average rents in May, a month that is usually in the midst of an annual upswing in the industry, driven by an exodus of renters."   

Link to full article
Source: Houston Community Impact newsletter

@Gaurav K. The loan terms seems to be normal but there is some information not provided to say for sure. As for the deal there isn't enough information to tell if it's a good deal.