Ticker Tape likes multifamily when we can add value to a property, including through a cash-out refinance that lets us redeploy capital. Tom got into the space through a law-practice client, a property manager who had been pushed out of a partnership and then built her own acquisition group. This will be the fourth deal we’ve done with her.
She also runs a property management business for other owners. Her biggest client became Fannie Mae, which calls her in when a borrower defaults and a complex has been run into the ground. That gives her a look at failed deals, and a chance to pick the ones worth buying. The deal underway in this short is in Lufkin, Texas: a property in foreclosure, at 51% occupancy in a market where the average is much higher.
Key points
- Ticker Tape invests in multifamily where there’s a clear way to add value, not just a hope that the market rises.
- A longtime operating partner also manages properties for other owners, including Fannie Mae after a default.
- That work surfaces failed deals we can evaluate for a purchase.
- The current example is a foreclosed complex in Lufkin, Texas, at 51% occupancy.
Accredited investors: learn about current opportunities at tickertapeinvestments.com.
