My business partner and I are looking to buy an apartment complex with at least 100 units.
We are trying to find a larger Apartment Complex (or more than 1 complex) that would be considered low C class but that can be remodeled to a mid or upper B class.
High side: Total purchase price can be based off of the number of units and the condition of the property.
Low side: Must have at least 100+/- units to work on our business model...a higher number of units would be better. Overall condition is not important as long as infrastructure is in good shape and can be remodeled. Location is important to us.
Preferably college towns...and not one pony towns (only one business or manufacturer that supports entire community).
Midwest and parts of the South. It is all about the cash flow...if it can cash flow correctly after rehabbed, that is what we look at.
We will pay close attention to crime and drug activity in the area as well as other redevelopment in the area.
If you know of something...send me a text or email!! You can also see what we have been doing at www.waynejamesinvestments.com
Referral fees will cheerfully be paid if we are allowed!!
Thanks Mike McCann!!