Welcome On In! You’re Now On Our Preferred Multi Family Investment Buyer List!
You’re now on our Preferred Multi Family Investment Buyer list and whenever we have new properties available we’ll shoot you an email. Now please fill out the General Multi Family Criteria BUYERS Form BELOW.
This will allow us to focus in on the specific property you want based on more detailed criteria. This detailed criteria is placed in our proprietary software to select the specific property you have chosen through this criteria.
Select the criteria that best fits your ideal property. For example if your criteria is a fairly new building with little or no work that have good tenants with high rents and up to date amenities, then make selections based on that criteria . If you are a value minded investor who looks for Value Play that requires upgrades to units, infrastructure and utilities then select those aspects that are older, need repair or do not offer the same criteria as a newer property, such as overgrown Landscaping that needs maintenance, new asphalt paving, new roof because roof is older than 15 years, etc.
We end up posting many of our properties here on this website on our Property page… but also, many of our best deals don’t make it to this website because they get sold to our Preferred Buyers List before we have a chance to list them on this website.
When you get an email from us before to open it and look at the available properties fast and contact us if you’re interested in a property right away. Our properties tend to go fast.
If you want to chat with someone on our team about your specific investment profile, feel free to call us at: (307) 231-4190
We look forward to working with you! Be on the lookout for our next Property Alert Email!
Here is an overview of Multi Family Classifications to help educate guide you in your selection. The Educated Customer is our best customer!
Classes of Multifamily properties
- Class A Multifamily
- Generally, garden product built within the last 10 years
- Properties with a physical age greater than 10 years but have been substantially renovated
- High-rise product in select Central Business District may be over 20 years old
- Commands rents within the range of Class “A” rents in the submarket
- Well merchandised with landscaping, attractive rental office and/or club building
- High-end exterior and interior amenities as dictated by other Class “A” products in the market
- High quality construction with highest quality materials
- Class B Multifamily
- Generally, product built within the last 20 years
- Exterior and interior amenity package is dated and less than what is offered by properties in the high end of the market
- Good quality construction with little deferred maintenance
- Commands rents within the range of Class “B” rents in the submarket
- Class C Multifamily
- Generally, product built within the last 30 years
- Limited, dated exterior and interior amenity package
- Improvements show some age and deferred maintenance
- Commands rents below Class “B” rents in submarket
- Majority of appliances are “original”
- Class D Multifamily
- Generally, product over 30 years old, worn properties, operationally more transient, situated in fringe or mediocre locations
- Shorter remaining economic lives for the system components
- No amenity package offered
- Marginal construction quality and condition
- Lower side of the market unit rent range, coupled with intensive use of the property (turnover and density of use) combine to constrain budget for operations
What You Need to Know
- Class A assets — and Class B assets located in major markets — typically command more interest from lenders. Life companies, pensions, REITs, agency lenders and conduits aggressively pursue Class A assets. As a result, you can expect:
- More financing options
- Lower rates
- Longer fixed rate terms and amortizations
- Higher leverage (up to 80% with options for mezzanine debt or equity)
- Asset is primary source of collateral with no personal guarantees (non-recourse)
- Lower debt service coverage requirements (as low as 1.15:1)
- Depending on the market, CAP rates in the 4%-6% range
- Class B and C assets lose some interest from institutional investors and borrowers typically obtain financing from banks, agency lenders and specific purpose REITs. As a result, you can expect:
- Fewer financing options
- Slightly higher rates
- Fixed rate with balloon terms or 5 year resets
- 75% leverage with no option for secondary debt
- Non-recourse for assets located in major markets
- Recourse for assets located in secondary and tertiary markets
- Depending on the market, CAP rates in the 6%-8% range
- Class C and D assets tend to be financed by local banks with little to no interest from secondary market lenders. As a result, you can expect:
- Limited financing options
- Rates 100-200 bps higher than higher quality assets
- Shorter fixed or floating rate terms
- 65% (75% for strong sponsors in major markets) leverage with no option for secondary debt
- Personal recourse
- Depending on the market, CAP rates north of 8%