We are looking for good (10-200 units) Class-B or Class-C* multi-family properties in desirable locations, with attractive designs and untapped potential. We analyze each potential acquisition, evaluating its physical, financial and operational feasibility, as well as its community appeal. We are looking to actively capitalize on the properties positive attributes. Multi-family properties are classified as either A, B, C, or D. Class is determined by two things, Location and Condition. It is not set by the appraisers, nor is it formally defined. Determination of class adheres to the following:

Class A properties are newer, better located, with higher rents than the other classes. They offer more tenant amenities than the others. New Class A properties may be located in a Class B area with lower rents than better located Class A properties.

*Class B properties are Typically 10 to 20 years old, well-kept and located in the middle class part of town. They do not offer many tenant amenities.

*Class C properties are in low income to moderate income neighborhoods, or blue collar neighborhoods. They range in age from 30-40 years so they have usually been through at least one rehab. Rents are relatively low for the area.

Class D properties are in very bad, high crime neighborhoods, regardless of the amenities or age. The only way to turn a Class D property around is to turn the entire neighborhood around. Class D properties typically do not appreciate, and require intense management and heavy security.

Geographic Focus: Southeastern United States

Market Size: 100,000+ population

Market exhibiting job and population growth

Property in good condition, in good location, in low crime area

Deal Size: 10-200 units (will consider portfolios)

Minimum occupancy: 80%

Roof: pitched construction

Classification: B or C quality

Individually metered utilities

 

OUR STREAMLINED PROCESS  

When submitting a property please include the following information, along with your name and direct contact information. 

Basic property description

Color property photographs

Address and Location description

Current Rent Roll

Prior year actual operating statement

Current YTD operating statement

Current tax bill

Terms of current financing

The first step in the process is to simply get in touch with us and we'll discuss your property and possible options. If we can help you - great! If not, we are happy to point you in the right direction, even if it doesn't help our business. We always seek a win-win scenario in every situation. 

Next, we'll take a tour of the property and, if possible, meet with you. After receiving the initial property documents, we will give you an offer on your property based on the current performance. If you are comfortable with the offer, we can move forward with signing a "purchase and sale" agreement. 

Step 3: Due Diligence 

During the due diligence period we thoroughly review the physical, financial, and legal aspects of the property to get a complete picture. This process can take as little as 10-days and as many as 90-days depending on the size and complexity of the property.  

Once we complete our due diligence review and everything is acceptable, we will move to close on the property, transferring ownership over to our company and you are forever 100% free of the property! You will receive a cashier's check at closing from the attorney that you can do whatever you want with! Pay off bills, take a vacation, or plan for your retirement or children's college fund - it's all up to you!