Hello everyone this is Juan Carlos Gastelum. I am a real investor in Texas. We recently visited a 61 unit property in Alamo, Texas. It is a garden style, 2 story, 61 unit complex. It was built in the early 2000s and the asking price is $6,250,000. We think it is overpriced, so we will underwrite this property and look at the financials. So far we’ve got the rent roll which shows rents slightly under market, and occupancy is at 93%. We’ll see how the numbers turn out and then we’ll make an offer. Please tell us about how you feel about investing in multifamily properties in secondary markets. We’ll let you know how this turns out. That’s it for now, take care. Best wishes on your real estate journey, and God bless!
Menu
