If you are a seller (principal owner), a lender with foreclosed property, a lender with a non-performing note (NPN) secured by real commercial property, a syndicator, or a licensed real estate broker, or an attorney, or an accountant, a property manager, or other credentialed professional specializing in commercial income properties (mostly apartment buildings), then I want to know about your deals! I can buy distressed or performing income properties from $50,000 to $50,000,000+. I can buy on terms or all private cash, and I can close quickly after successful due diligence.
Please do not try to justify an asking price with comparable cap rates, because they are meaningless! My offer will reflect the cost and structure of currently available financing according to what the property can afford to pay in its current condition and performance, and relative to our required profit and cash flow margins. If you’re uncomfortable with this, then don’t bother us because we are not a charity nor a greater fool. We are in this business to earn profit and that means we don’t pay retail prices or future pro-forma valuations. Be realistic in your expectations.
I currently prefer distressed residential income properties (apartment buildings) in the USA desert southwest, excluding California. We are actively looking in Las Vegas NV, Phoenix AZ, Tucson AZ, north and west parts of Texas, larger cities in Oklahoma, and Colorado. We will consider other areas when we can see a clear path for our exit strategy, either resale or refinance with cost effective long-term debt. So, be prepared to make your case with verifiable market data.
We will not buy in war zones, blighted areas, serious flood zones, expansive or contaminated soil zones, rent control or encumbered by affordable housing (regulations, contracts, leases, deed restrictions, etc.). We will not buy properties that may be potentially designated as “historical”. We will not buy Marijuana properties. We will not consider a “portfolio” of properties, unless the properties are contiguous, adjacent, and can be feasibly assembled into a single parcel. We prefer to process one property at a time, without contingent contracts on other properties.
Just download my investment criteria and let me know through e-mail whenever you have a property that seems to fit. Please don’t waste my time or your time with deals that you don’t own or don’t have under a legally binding contract [something like a purchase contract, option contract, broker listing agreement, or fiduciary representation contract (like an attorney-client contract or a limited power of attorney agreement)]. If you are simply trying to insert yourself into a deal for which you have no legal credentials, then forget it. The more often you send crap to me, the more likely I’ll put you on a blacklist and ignore you.
I will not sign a buyer’s real estate broker general exclusive right to buy agreement. If you are the first to bring to my attention a property that fits my criteria, then I will sign a single-transaction buyer’s real estate broker exclusive right to buy agreement for that specific property.
Click here to download my investment criteria, which changes from time to time.
If you have a specific scenario in mind, then contact me on my support page by clicking here. Or click on a choice below: