ACQUIRE
- Purchase Underperforming Apartment Communities
- Mom and Pop Characteristics
- Class B and C buildings
- 20-50 units
- Deferred maintenance
- Value-Add opportunity
REPOSITION
- Bring in professional management team
- Stabilize the property
- Fill vacancies
- Implement RUBS
- Change fee structure
- Raise remaining rents
EXIT PLAN
- Hold long term – increasing cashflow, principle pay down and appreciation
- Refinance – roll proceeds into the next
- Sell – cash out or roll proceeds into next property