 |
GEOGRAPHIC AREAS DESIRED
- Areas in the United States where the overall economy has been soft for at least the last 2 years and shows signs of recovery
- Areas with strong markets and show measurable reasons for continued growth for at least 5 years
|
PROPERTY TYPES WANTED
- Multifamily properties only with a minimum of 100 units
- Prefer 15 years old or less but older properties in better areas that have some “value added” opportunity will be considered
- Pitched roofs preferred
- Some amenities
- ‘B”, “C” and “D” properties in “A”, “B” and “C” areas
- Major and/or minor rehab is desired but will look at “stable and well maintained” properties
- Properties with a history of “water leaks” are less desirable but will be looked at if opportunity warrants it
- May consider being an “equity partner” but the opportunity must support the venture
|
FINANCING
- We will pay cash, assume financing or obtain new financing depending on the opportunity
|
PROPERTY FINANCIALS
- A cap rate of at least 8% on current and verified actuals is a minimum but “rehab-needed” properties will be looked at based on the opportunity
- We will close quickly after review and approval of all financial, market and property data requested
|
We are experienced investors and operators and will rely on experienced and local Property Managers. We will act as principals in some cases but as broker in most. Please provide any matching opportunities to K. Wayne Rice, CCIM at the address shown below.
K. Wayne Rice, CCIM
President
K. Wayne Rice & Associates, Inc.
3160 Crow Canyon Place, Suite 235
San Ramon, CA 94583
Office: (925) 355-3298
FAX: (925) 355-3299
Email: wayne@kwrice.com
|
