Our Ideal Property (Our Buy-box)
Having laser focus on what we're looking for helps us determine what makes a good deal, and, what makes a not so good deal. The attributes of a property that is a good fit for us and conversely what our team is good for can be wrapped up into the concept of a "buy box." A buy box is the collection of criteria that must be met before you can make even a preliminary go/no-go decision on property. For us, an early evaluation of a property against this criteria give us a quick way to answer the ultimate question: "Should we invest our time in evaluating this property in more detail." This article talks about our buy-box criteria.
Do you have a property that matches? Reach out to us with the details so we can see if we agree and if so figure out the details as to how we move forward.
Buy-Box
| Attribute | Value | Comments |
|---|---|---|
| Location |
Portland Metro area, OR |
We're open to other areas, in fact, we currently own properties in other areas. But right now our core acquisition focus is Portland. |
| Vintage | 1980's or newer | Older properties can be really fun, but they come with a lot of risk that we're not well situated for right now |
| Property Class | B- or C | If you don't know what property class is, schedule a call with us and let's talk about it! We're happy to discuss. |
| Neighborhood Class | A-C+ | Locations that are both outside the path of progress, ad, completely undesirable will not help us meet our business goals |
| Roof | Pitched | Flat roofs add significant risk |
| Size | 20-50 doors | |
| Asset Class |
Multi-family Residential/Apartments, RV Parks |
Properties with strong value add potential, deferred maintenance, or high-turnover are not scary to us. |
| Financials |
7% Cash on Cash Return over the life of the deal AAR of 20% over the life of deals |
Knowing that we can give returns to our investors is key to securing their trust |
