My intent with this site is to create an area where readers can learn about multifamily real estate and the market in general. Rarely do I commercialize the site with information about a specific opportunity. I depart from that with this post as there is an investor who urgently needs your and my help. He has an exchange ID date rapidly approaching. I’ve also included some of our other investors who are ready to buy and looking for projects.
Help me out!!
My partner Robert Poe and I am working with several clients whose needs range from “Highly Urgent” down to “I’d look at a deal.” I expect to write deals for Client 1 this weekend or early next week.
STATUS: HIGHLY URGENT!: Client 1. A family whose ID date is rapidly approaching for $1.26 M. Will buy up to $2.5M
• Definition of hot cash! 1031 Exchanger…Ready to make offers this week.
• Cash flow takes precedence over long term appreciation
• Would take on new debt…but prefers LTVs ≤ 55%
• Prefers low involvement properties
• Will not participate in TICs
• Likes NNN…but wants strong tenants
• Might do multifamily as a last resort
• No lots or land
• Oregon or Washington
STATUS: URGENT!: Client 2. An experienced commercial investor looking to buy an $350K to $1M Asset
• Soon to upgrade to Highly urgent…this 1031 Exchanger focuses on Cash flow
• Would take on new debt…up to 65% LTV
• Likes NNN…but will do extensive investigation of tenants
• Hates single use properties such as Oil Can Henry’s, Church’s Chicken, etc
• Tighter geographical restrictions than Client 1: Likes greater PDX area…hates Salem
• Might consider M/F
STATUS: SOON TO BE URGENT: Client 3. $150K Savvy investor closing in near future on the first leg of a 1031 Exchange
• Open to a wide range of opportunities
STATUS: I’D LIKE TO GET THIS DONE: Client 4. All cash out of region buyer looking to purchase $1 to $1.5M properties
• Not 1031 money…but will close on a property this year.
• No debt
• Out of state…and area Mailbox money properties…or low involvement scenarios.
• Environmentally aware
• Conservative…low risk opportunities
• Great potential for repeat business
STATUS: I’D LIKE TO DO A DEAL: Client 5. Savvy business man…new to commercial investment
• $500K cash
• Running a business takes most of his time: Mailbox money properties…or low involvement scenarios preferred.
• Up to 60% LTV Debt?
STATUS: I’M OPEN TO A DEAL: Client 6. Privacy centric anonymous VIP with cash resources exceeding $1M
- Open to a broad range of “hands off” investments. Skilled advisors will assist him in evaluating projects
Please send me your solutions! (Bonus points for properties that aren’t on Loopnet…as my clients already have professional grade subscriptions to that.) If you can help with any of these needs please contact Rick Bean immediately at rick@rosecitycre.com or 503.577.1034.
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