Frequently Asked Questions
Have a few questions? Most people do. So, here’s a quick collection of some of the common questions we get… with our answers next to them. If you still have a question don’t hesitate to shoot us an email through our contact page (or give us a call).
Q: Are you actually BUYING my apartment or listing it on the MLS?
A: Great question. We’re not agents, and we don’t list properties. We buy Michigan apartments & multifamily properties that fit our buying criteria. We then hold the properties for long-term rentals. We’re not “flippers”.
Q: Do you pay fair prices for properties?
A: Because of the way we buy our properties, we actually are able to pay very fair prices. In fact, we usually offer full market value (sometimes above, depending on the terms) because we put a lot of value in flexibility over price.
Q: How do you determine the price to offer on my property?
A: Great question and we’re an open book… so I’m glad you asked. Our process is rather simple. It’s all based on the income producing potential of the property (and of course, past performance). Then we figure in any deferred maintenance that we’d have to put money into immediately to get the property up to good condition. If those numbers produce a reasonable return on our investment, we’re in! So, please expect to provide us with some information about your property initially so we can make the offer (rents, income statement, vacancy rate, etc.).
Q: Are there any fees or commissions to work with you?
A: There are NO fees or commissions to work with us. We’ll make you an offer, and if its a fit… we’ll buy your apartment building. No hassle. No fees. We’re long-term buy and hold investors and usually work directly with sellers… but we do occasionally buy properties through real estate agents as well.
Q: What if I have a property that’s larger than a four-plex? Are you still interested in buying it?
A: ABSOLUTELY!!! We’ll take a look at ANY apartment or multifamily property throughout Michigan even if it’s 400-units. If we can’t buy it on our own, we’ll bring in one of our Joint Venture partners to go in with us. These guys have bought 1,000’s of apartment units all over the country, and they’d LOVE to buy more!