5C PROPERTIES LLC

BUYING CRITERIA:

• 3+ Bedrooms, 1+ Baths, 1100 sq ft +, (if property year built is 1950-1959 1.5 baths is required)
• 1950 or newer

Property Locations:

• South Carolina – Charleston, Columbia, Greenville, Spartanburg
• Georgia – Augusta
• North Carolina- Charlotte, Greensboro, Winston-Salem, High Point
• Alabama – Birmingham, Huntsville
• Ohio – Cincinatti, Columbus, Cleveland, Dayton
• Indiana – Indianapolis
• Kansas & Missouri – Kansas City
• Buying Criteria:MFH
  Seeking MFH at least 60 - 100 units.
  1. Value-add component: typically 85%-90% occupancy / discount based on condition or motivated seller.
  2. Price: $1,500,000 – $9,000,000, per unit cost under $55K.
  3. Location: secondary and tertiary markets across
  4. Class: D/C/B Property in a B/A neighborhood
  
  Minimal deal standards
  i) 1.5-2% rent to value ratio - 50k per unit price must rent for $750-1000 per month
  ii) $100 per month "low hanging fruit" to bump rents up via adding utility bill back to the tenant or low rents
  iii) DSCR needs to be at a min 1.25 to qualify for agency financing

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