I represent an all cash buyer seeking property for immediate acquisition. This particular client is NOT seeking owners to carry financing, wraps, master lease options, etc. They are a cold cash closing buyer.
• Where: Nationally
• Property Type: Multifamily, Garden or Low Rise
• Class: A, B, or C
• Occupancy: Must be at least 50% occupied
• Age: Must be 1965 or newer
• Metering: Must be individual electric meters or established RUBBs
• Unit Mix: Good mix preferred (i.e. frowns on all one bedroom deals)
• Pricing: $1,000,000 and up.
• Units: Must have at least 80 units
• Other: Prefers value added properties or properties that need to be repositioned. Mismanagement, high vacancy, deferred maintenance, minor to moderate rehab, high expense ratio, below market rents, etc. all ok. Bankruptcy, REO, Foreclosures, etc. all ok. THEY LIKE PORTFOLIO DEALS but will do individual property purchases also.
What we need to evaluate the deal in order to reply to you with interest?
• Current BPO or Appraisal
• YTD Income and Expense Report
• Most Recent Rent Roll
• Sales Package