Buying
Criteria
Whether you’re coming to Avoca Property as a passive investor, buyer, seller, or real estate broker/agent, you’ll want to know how we run our business and the properties we buy, owner/operate, and invest in. It’s important to us to show transparency, integrity, and accountability as part of our core values. A key principle of our business is following strict purchasing criteria. Here’s your opportunity to look “under the hood” at our criteria.
What
We Buy
Our primary aim in buying properties is Class B real estate. These Class B properties are typically found in neighborhoods with growing desirability, stable employers, middle incomes, and well-regarded school systems. We look for value-add properties. We work with sellers and brokers who have off-market properties and want a quick, discreet sale with confidence that buyers can close
Properties
Do you own apartments or multi-family? Have a property for sale? Or a client who’s selling? We’re buying them!
Markets
We look for value-add commercial apartment buildings as well as residential multi-family in specific sub- markets in:
- Idaho
- Colorado
- Nevada
- Utah
- Tennessee
Property
Criteria
We look at properties from 2-500 units. Properties with less than 40 units will generally only be considered in areas where we have a sizeable presence. Overall, we look for cash-flowing apartments and rentals. Our goal is to buy, stabilize, increase rents, refi, and pay off with lenders and investors quickly—typically within 18-30 months or less!
Why?
By purchasing with a bridge loan or Fannie Mae/Freddie Mac permanent loan, we are better able to keep our investors’ preferred returns at 8-10% until refinancing. That way, depending upon the structure of the deal, we can either (i) provide a premium to our investors upon refi, or (ii) provide equity in the deal, leading to financial security and freedom for our passive investors with a growing return on investment each year.
Want to know more? Schedule a call now!