ASSIGNMENT:

This was a father, mother & son that were referred to us from a long time realtor friend. The clients were in a 1031 exchange and were new to the multifamily real estate market and it took some time for them getting into a property that met their expectations. It can be just as rewarding when working with first time investors versus your savvy investor. Great family.

CHALLENGE:

We had several challenges from the property being located in a non-core market, small loan amount, and the investors didn't live in the market area ,which caused  some concerns on how the property was going to be managed.

SOLUTION:

A strength to the transaction was the Low Leverage which helped when identifying a lender that would lend in this non- core market area and for a small loan.  We were successful in satisfying the management concerns with the borrowers hiring a property management company that was experienced in the market. It was a lot of work for such a small deal but it was great to be able help out this family that was referred to us.