Seeking on the ground Real estate partner

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Seeking on the ground Real estate partner

Bharat K.
New to Real Estate · Fremont, CA · Member since 2018 · 5 posts · 1 vote

I am part of multifamily investors group based in San Francisco Bay Area, California. We currently own 1 apartment building and several single family homes in Kansas City. We also own multifamily (apartments) in other states.

We are seeking a real estate and acquisition partner in Kansas City to help us buy Apartments buildings (50+ to 200 units) in South Kansas City, Independence, Grandview and Rayton areas.

- Identify properties and connect with owners for possible sale

- Meet with brokers in Kansas City and identify suitable properties

- Connect with Property managers in Kansas City and find if they are aware of any suitable properties

You will be paid % of acquisition fee after acquisition of the property and also % of asset management fee for asset management.  Alternatively, equity could be considered.  

Please share your real estate experience along with local knowledge in your email. Also articulate on how you will be able to connect with brokers and owners and identify owners.

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  • Logan Freeman
    Specialist · Kansas City, MO · Member since 2018 · 331 posts · 148 votes
    7y

    @Bharat K. I would be curious to hear where your current asset is located, what the entry point was for price, what you did to add value to the building etc..There is a lot of competition for multifamily assets in Kansas City and you will need to connect with people that have pocket listings. Also, we have a team here with boots on the ground that are locating assets, renovating, leasing and managing. Make sure whomever you decide to work with has clear expectations on what you are looking for. Hope this helps and I will shoot you a DM as well. 

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  • Luther Wilson IIIPro Member
    Real Estate Broker · Kansas City, MO · Member since 2017 · 535 posts · 292 votes
    7y

    Hey, @Bharat K., thanks for reaching out to the network here. I'd be happy to connect with you and perhaps assist you in finding what you're seeking in KC. Right now I'm working with a buyer and were were able to get 62 units under contract for $2.7 Mill and we're set to close before the month is up. These I would consider C/D class units and the buyer is cool with a 7% CAP rate... Not sure what you're seeking as far as cap rate and property type but if you're aggressive enough and realistic enough then you'll find some unique opportunities. It's taken us about 5 months to get to this point but I believe there are still deals here and if you look enough you can find them. We have a group here that has be deploying some stellar marketing to attract motivated sellers and we might just be able to couple you with some of the leads that we're finding. Send me a PM or email and let me know if you want to discuss this further on a phone call or such.

    - Luther

    [email protected]

    913.475.5755 

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