- We presently are buying mainly in Texas, but recently have closed on acquisitions in CA, AZ and IA.
- $2-25 million. Larger or smaller deals are considered on a case by case basis.
- We are flexible. The dollar amount is more important than the number of units. Ideally, the deal would be 90+ units. We prefer a package (2 or more) of properties owned by the same Seller. We will consider smaller deals in markets where we already own properties.
- “A”, “B” or “C” properties
- We prefer to pay off the existing debt unless it is a special situation or particularly good deal, in which case we will consider assuming the loan.
- We Are Principals and Do Not Receive Commissions
- Strong preference is given to package deals (2 or more properties) owned by the same Seller.
- Minor rehab, repositioning, or expansion deals are ok
- We often buy deals nobody else will consider.
If you are a broker, please do not let the fee get in the way of your showing (or not showing) a deal to us, especially a good deal! We are happy to pay a fee to you if you are (a) unable to work it out with the owner or cooperating broker or (b) if the fee being offered is too small. Having been an apartment broker myself for many years, I understand your motivation and hard work and am happy to pay a fee to you for a deal when the situation dictates.
Sometimes the best way to find out whether or not a particular deal would be of interest is to email or fax a summary. Please feel free to contact Bryan Kastleman to discuss any of this.