What Is The Criteria?
Criteria:
- Target Market: Tucson
- Transaction size: $2-5 mill
- Apartment size 10-50 units
- Unit mix: Majority 2 bedrooms
- Apartment class: B/C
- Occupancy: 85% +
- Cash on Cash 7%
- Debt Coverage ratio 1.5x
- Hold time: 2 year refinance and then hold for 8 years and then sell (10 year total).
