Dallas-Fort Worth Real Estate Investor Club

Seeking 150+ MF

  • 01 Mar 2016 11:16 AM
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    Message # 3853455
    Kathy Stewart


    Additional criteria includes built in 1984 or newer, value add, Class B. Financing flexibility and off market add interest.
  • 02 Mar 2016 2:15 AM
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    Reply # 3854738 on 3853455
    Dwayne Modisette

      I do not have a property that fits those criteria, but I am interested in finding out more about your experiences in multifamily, specifically apartments, as that is the direction I am looking to myself. I am also considering commercial strip centers, but will probably purchase apartments first since I have been studying those longer. Will this be your first complex, or do you own others? Are there any specifics you can give about what to look for in a multifamily deal other than the numbers?


    Thanks,

    Dwayne
  • 03 Mar 2016 2:13 PM
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    Reply # 3859373 on 3853455
    Kathy Stewart


    Initially I determine estimated sales price with NOI/CR. I use gross rents and 60% for expenses to determine NOI. Specific questions include:

    Why is seller selling/what year purchased?

    What are current area comps f/rent and closed sales?

    When were the following last replaced-roof, HVAC, flooring, appliances?

    What upgrades have been done/when?

    What owner financing is available?

    These should all be verified by owner-provided financials.
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