{"id":304,"date":"2024-09-09T16:03:13","date_gmt":"2024-09-09T16:03:13","guid":{"rendered":"https:\/\/incomepropertybuyer.net\/?page_id=304"},"modified":"2025-03-26T14:53:46","modified_gmt":"2025-03-26T18:53:46","slug":"guidelines","status":"publish","type":"page","link":"https:\/\/professionalmoneybroker.com\/propertybuyer\/guidelines\/","title":{"rendered":"Guidelines"},"content":{"rendered":"\n<h2>\n\t\t<bold>Our Acquisition Guidelines And Processes<\/bold>\n\t<\/h2>\n\t<strong>Please review our submission guidelines<br \/>\nprior to submitting any properties.<\/strong>\n\t\t\t\tType Of Properties We Desire\n\t\t\t\t<p><b>Apartments, Senior<\/b><strong>\u00a0Housing, Student Housing, and Assisted Living Facilities.<\/strong><\/p>\nTYPE: Garden Style AND High Rise,<br \/>AGE: \u00a0Built 2000 Or later. Older properties must have been 100% renovated.<br \/>UNITS MIX: 80 TO 550 UNITS\u00a0<br \/>CLASS: Prefer <strong>CLASS A OR B<\/strong>.\u00a0No Class C properties.<br \/>OCCUPANCY: 80% occupied or higher.\n<p><strong>Retail Properties:<\/strong>\u00a0Single Tenant Retail &#8211; At least 10 Years Remaining On Lease<br \/>Retail Properties:\u00a0Multi-Tenant Retail: Must have national anchors occupying at least 60% of leasable space. 80% Occupancy Required.<br \/>No Strip Centers\u00a0<\/p>\n<p><strong>Office Properties (least desired)<\/strong><br \/>TYPE:| Medical Parks| Business Parks|<br \/>AGE: 20 Years Old Or Less<br \/>CLASS: Class A and B ONLY<br \/>OCCUPANCY: 80% Occupancy Required<\/p>\n<strong>Hospitality Properties (least desired)<\/strong><br \/>TYPE: National Flags\u00a0<br \/>AGE: 20 Years Young<br \/>CLASS: 5 Star Rating\n\t\t\t\tTypes Of Properties We Do Not Purchase\n\t\t\t\t<h4 data-css=\"tve-u-18c90cf696b\">No Raw Land<br \/>No Single-Family Homes<br \/>No Mobile Homes,\u00a0<br \/>No Gas Stations,\u00a0<br \/>No Food Service Properties<br \/>No Industrial Properties<br \/>No Warehouses\u00a0except\u00a0National Brands Operational facilities.<\/h4>\n\t\t\t\tLocations We Invest In\n\t\t\t\t<h2 data-css=\"tve-u-18c90cf696d\"><strong>US Locations ONLY.<\/strong><\/h2>\nPrefer SE United States: \n<ul>\n<li data-css=\"tve-u-18c90cf696d\">Texas<\/li>\n<li data-css=\"tve-u-18c90cf696d\"> Arkansas<\/li>\n<li data-css=\"tve-u-18c90cf696d\">Mississippi<\/li>\n<li data-css=\"tve-u-18c90cf696d\">Tennessee,<\/li>\n<li data-css=\"tve-u-18c90cf696d\">Alabama,<\/li>\n<li data-css=\"tve-u-18c90cf696d\"> Georgia<\/li>\n<li data-css=\"tve-u-18c90cf696d\"> Florida<\/li>\n<li data-css=\"tve-u-18c90cf696d\"> North Carolina<\/li>\n<li data-css=\"tve-u-18c90cf696d\">South Carolina<\/li>\n<li data-css=\"tve-u-18c90cf696d\">Virginia<\/li>\n<li data-css=\"tve-u-18c90cf696d\">Pennsylvania<\/li>\n<li data-css=\"tve-u-18c90cf696d\">New Jersey<\/li>\n<\/ul>\n<h4 data-css=\"tve-u-18c90cf6972\">Coastal States: Inland properties only.<br \/><strong>Excluding Alaska and Hawaii.<\/strong><\/h4>\n<h4 data-css=\"tve-u-18c90cf6972\">\u00a0<\/h4>\n\t\t\t\t<center>Property Requirements<\/center>\n\t\t\t\t<h4 data-css=\"tve-u-18c90cf6976\">Here are our general property investing requirements.<\/h4>\n1. All properties must be operational and at least 80%<br \/>\u00a0 \u00a0 \u00a0occupied.\n2. Must Be a <strong>Class A or B<\/strong> property.\n3. We do not purchase undervalued properties in need of renovations. <strong>We are not rehabbers.<\/strong>\n\t\t\t\tRequired Documents\n\t\t\t\t<p><strong>Required Documentation<\/strong><br \/><\/p>\nA. 2 Years Income And Expense Statements\u00a0<br \/><br \/>B. Year To Date Income and Expense Statement<br \/><br \/>C.\u00a0<em>Current Rent Roll\u00a0<\/em>and Occupancy: 80% min.<br \/><br \/>D. Exterior Photos and Interior Photos If Possible\u00a0<br \/><br \/>E. Current Leases on Retail Properties and Net<br \/>\u00a0 \u00a0Lease Properties<br \/><br \/>F. As much historical financial data as possible.<br \/><br \/>G: Sellers Motivation: Why Is the Property Being<br \/>\u00a0 \u00a0 Sold!\nH. How Long has the property been on the market.\n\t\t\t\tSubmission Process\n\t\t\t\t<h4 data-css=\"tve-u-18c90cf697c\">A. Register Your Company<br \/>B. Submit Your Property<\/h4>\n<h4 data-css=\"tve-u-18c90cf697f\"><strong><em>Do Not\u00a0<\/em><\/strong>Submit properties directly.\u00a0<br \/><strong>You must register first.<\/strong><\/h4>\n<h4 data-css=\"tve-u-18c90cf6980\">Give us 48 hours to respond to your submission.<\/h4>\n\t\t\t\tOur Processing Procedure- What To Expect\n<h3 id=\"t-1703408132679\"><strong>Step 1: Document Verification &#8211; 24-48 Hours<\/strong><\/h3>\n<p>We verify that all the required documents are present. Next we review the documents.<\/p>\n<p><strong>NOTE:<\/strong> If the requested documents are not present, we will not request the information. The property will be withdrawn from consideration.<\/p>\n<p>If all the documentation are present, we begin our analysis process and determine if it meets our investment requirements.<\/p>\n<p>If it does, the property is forwarded to our underwriters for a closer analysis.<\/p>\n<p>If underwriting approves the property, it is then sent to our acquisition team.<\/p>\n<p>The acquisition team will then prepare and submit and offer on the property to the submitting party.\u00a0<\/p>\n<p><strong>Step 2: Issuance Of LOI<\/strong>&#8211; 24-48 Hours<\/p>\n<p>The LOI will be issued to the submitting party. It will specify the terms and conditions of the purchase and will contain the framework for the purchase contract. It&#8217;s important that the submitting party has access to the Seller or authorized party because:<\/p>\n<p>1.Our initial offers are always a Full Price Offer. <br \/>A signature will be required upon acceptance.<br \/>2. We require a conference call with all partied to review and to discuss the LOI for clarity purposes.<br \/>3. Any objections or modifications must be in writing.<br \/>4. Our offers are typically valid from 3-5 days.<\/p>\n<p>NOTE: You must be able to arrange this initial conference call with the Agent and the Seller. <em>If you aren&#8217;t able to do this then you shouldn&#8217;t submit a property to us.<\/em><\/p>\n<p><strong>Step 3:\u00a0Acceptance Of LOI<\/strong><\/p>\n<p>If the LOI is rejected, we request that the rejection be in writing on page 5 of our LOI.<br \/>Verbal rejections are discouraged.\u00a0<\/p>\n<p><strong>Step 4: Execution Of Contract and Earnest<\/strong><\/p>\n<p>Once all the terms of the LOI have been worked out and agreed to, we will execute a contingent free contract. Earnest monies will be help by our Attorney or a local title company. <\/p>\n<p>We do not deposit earnest monies into Agent&#8217;s escrow accounts.<\/p>\n\t\t\t\t<center>Agent Conflict Avoidance Policy <\/center>\n\t\t\t\t<p>We have had 3 experiences and conflicts that have arisen when we purchase a property 2 agents submit the same property.<\/p>\n<p>Both situations we withdraw our offer to limit our liability exposure and any litigation.<\/p>\n<p><strong>Our &#8220;Agent Conflict Resolution Policy<\/strong><\/p>\n<p>Once we receive your submission, we will check to see if it has been submitter already.<\/p>\n<p>This search is done by the information you provided during the registration process. We will check your name, your company&#8217;s and the property address.\u00a0<\/p>\n<p>If your property has been previously submitted, we will notify you of that fact and provide you with the name of the submitting party.<\/p>\n<p> If you have an exclusive listing and your property has been previously submitted by someone else, illegally. Simply send us your documentation. <\/p>\n<p>Upon receipt and review of your documentation, we will request the same information from the other party. The party with the valid information will be the party we work with.<\/p>\n<p>In the event that both parties have valid documentation, we will work with the party that submitted the property first! <br \/>We will adhere to &#8220;FIFO&#8221; Rules.\u00a0<\/p>\n\t\t\t<a href=\"https:\/\/professionalmoneybroker.com\/propertybuyer\/broker-registration\/\" target=\"_self\" rel=\"noopener\">\n\t\t\t\t\t\tAgents Register Here\n\t\t\t\t\t<\/a>\n\t\t\t<a href=\"\" target=\"_self\" rel=\"noopener\">\n\t\t\t\t\t\t\tOwners Register Here\n\t\t\t\t\t<\/a>\n\n","protected":false},"excerpt":{"rendered":"<p>Our Acquisition Guidelines And Processes Please review our submission guidelines prior to submitting any properties. Type Of Properties We Desire Apartments, Senior\u00a0Housing, Student Housing, and Assisted Living Facilities. TYPE: Garden Style AND High Rise,AGE: \u00a0Built 2000 Or later. Older properties must have been 100% renovated.UNITS MIX: 80 TO 550 UNITS\u00a0CLASS: Prefer CLASS A OR B.\u00a0No&hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-304","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/professionalmoneybroker.com\/propertybuyer\/wp-json\/wp\/v2\/pages\/304","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/professionalmoneybroker.com\/propertybuyer\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/professionalmoneybroker.com\/propertybuyer\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/professionalmoneybroker.com\/propertybuyer\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/professionalmoneybroker.com\/propertybuyer\/wp-json\/wp\/v2\/comments?post=304"}],"version-history":[{"count":5,"href":"https:\/\/professionalmoneybroker.com\/propertybuyer\/wp-json\/wp\/v2\/pages\/304\/revisions"}],"predecessor-version":[{"id":310,"href":"https:\/\/professionalmoneybroker.com\/propertybuyer\/wp-json\/wp\/v2\/pages\/304\/revisions\/310"}],"wp:attachment":[{"href":"https:\/\/professionalmoneybroker.com\/propertybuyer\/wp-json\/wp\/v2\/media?parent=304"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}