REOPro - Real Estate Default Professionals

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Ok REO - PRO's, check this out!

Our clients have a HUGE appetite.

Yep, you read that right. 100 deals per month.

Two buyers have cold called me in the last 14 days. These buyers gave us some specific criteria: Combined market capitalization of almost $1bln.

The street finds out again that I am interested in doing business with institutional buyers again and my phone starts blowing up!

Here are some notes I made of their acquisition criteria.

Both want off market (aka pre-list) REO's, short sales, inherited property, probate etc distressed SFR's.

• $75k-250k all in price
• For the first client, minimal to no rehab. About 10k total rehab or below. 1980 or newer only.
• 10-14% gross. (annual gross rents divided by acquisition price)

Second client:

• $100k-300k all in price

• 1980 or newer.

• Will look at rehab projects of 50% or less of market value. Example - if ARV of 200k, then no more than 100k in rehab.

• Want good school zones

Geographic footprint
• Atlanta*
• Austin
• Birmingham
• Charlotte*
• Chicago
• Cleveland
• Columbia
• Dallas*
• Greenville
• Houston
• Huntsville
• Indianapolis
• Jacksonville*
• Memphis
• Orlando*
• Raleigh
• San Antonio
• Tampa*

Cities with * indicate second client also wants properties there.

First client

Multifamily apartment buildings $1-5mm
• Class A-C
• Cap rate 4-7%

Here is the way it works, we want distressed properties that we can put under contract that matches EXACTLY what the criteria says.
Send a bunch of garbage and watch the possibility leave before your eyes. Send EXACTLY what the criteria says and buy yourself two new BMW's for Christmas.

Send a non compete so as to protect ACP's position and include us on the purchase agreement so as to joint venture. Otherwise, we will pass.

ACP will joint venture with brokers/agents. Your name can also be on the contract and we will split profits equally. If required, I will review any joint venture agreement you have and execute when the terms state as such.

Now, let's go do 200 deals before Christmas!

R. Glynn Williford

American Capital Partners

731-574-18OO ofc

731-616-5OOO cell

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Comment by R. Glynn Williford on October 12, 2016 at 7:25am

Yes they can be.

Comment by Calvin on October 11, 2016 at 10:56pm

Should these contracts be set up as wholesale deals?

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