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TRACK RECORD

Thorn Street Portfolio – 14 home tract purchased in 2014.

  • Successfully negotiated and closed deal with an owner carried contract of $2.5m with a purchase price of $2.95m

  • Took revenues in 2015 from $13,000 to $21,185 in 2019

  • Tract of Homes Remains in Portfolio as a buy and hold investment and cashflows $5,000/m

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Twenty Unit LLC Partnership

  • Purchased 5 four-plexes over the course 4 years

  • Used 1m line of credit to purchase and then refinance all deals sequentially. 

  • Over 4 years $1.9m of cash invested.  Refinance of $1.57m capital returned.

  • Guaranteed Cash on Cash Return of 7% for our Partner.

  • Purchase price of plexes totaling $3,228,500

  • Current Portfolio Value - $3,875,000

  • If we sold today there would be a 650k gain with 300k payback of initial capitol for a 25% Average Rate of Return

  • Rent Revenue per month of $25,665

  • 11551 SW 64th

  • Purchase Price: 132k

  • Construction: 20k

  • Added Bathroom

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  • 7210 SW Brier:

  • Purchase Price: 100k

  • Construction: 105k

  • Finished Basement and added 900 sq ft

Uptown Properties

  • Currently Manages over 350 Units

  • Staff of 12 (and hiring)

  • Manage 2 apartment complexes above 60 units (both with onsite managers)

  • Manage owned portfolio of 80+ units

Uptown Construction

  • Performs maintenance and project work

  • 4 employees with a huge network of subs

  • Competitive rates of $55 / hr and 15% markup on subs

  • Completed over 20 projects on owned portfolio

  • Completed over 1000 work orders over the course of 7 years

Summary

  • Uptown Properties is an established property management company capable of producing quality results of management.

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  • Uptown Construction is an established contracting company that produces quality product available to rent at a great rate and in a timely manner.

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  • AJ and Chris Shepard have a proven track record with many owned investments and will be investing in this deal. 

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19731 SW 68th

Investment Opportunity Highlights:

7% Cash on Cash Return

Up to 19% IRR

10 Shares Available, $50,000/ea

THE OPPORTUNITY

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  • 19761 and 19701 SW 68th

  • 9 Plex – Mix of 2br/1.5ba, 3/2 and 4/2 units in Tualatin

  • Near Bridgeport Village East of I5

VALUE ADD

  • Find an asset underperforming and under value

  • Create a plan to have it operate under its highest and best use

  • Create value through improved management techniques and upgraded living conditions.

APARTMENT SYNDICATION INVESTMENT HIGHLIGHTS

  • Purchase price of 1.3 Million

  • Close to Portland Oregon

  • Initial Investment of $500,000

  • ~ 7% cash on cash return

  • 19% IRR

  • 190% ROI

  • 700k Net Sale Proceeds after 5 years

  • Cost Segregation to take majority of Deprecation up front

APARTMENT SYNDICATION PROPERTY DETAILS AND LOCATION

Property Specifics

  • 8 Units, 2 Buildings – All 2bd/1.5 ba units

  • Currently 4 units vacant (50% occupancy)

  • 852 sq ft ea

  • Townhome style with 2 beds upstairs and ½ bath down

  • Current rents are at 1100-1300

  • Projected New rents are 1300-1500

Property Benefits

  • Easy access to Hwy 26 and 217

  • Great School Districts

  • Very Close to Beaverton Downtown (Being revitalized and developed, 7 min)

  • Close to Downtown Portland (12 min)

Apartment Syndication Improvements and Value Add

Value Add Project $150,000 (100k from capital and 50k from operating costs over the course of 12-18 months):

Building 3 and 4

  • New Roof

  • New Landscaping throughout

  • Minor Mold remediation in 2 units

  • Paint Exterior

Upon Turnovers

Building 1 and 2

  • Update cabinets and kitchens

  • New Flooring

  • Update Windows

  • Update HVAC (Forced air electric furnaces)

  • Roof Repairs

  • New Landscaping throughout

  • Paint Exterior

Apartment Syndication Financial Projections Assumptions

  • Income Growth: 3%

  • Expense Growth: 2%

  • Vacancy: 5% and 25% first year

  • Expense per unit: $250/yr

  • Property Management 6%

  • Asset Management 1%

  • Cap Rate on Exit: 5.75%

Apartment Syndication The Opportunity

Yearly Income Projections

 Current, Stabilized and Years 1-5

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Projected Sale Proceeds after 5 years

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Cash On Cash Return Calculation

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Current Rents:

  • 19731 - $1440

  •   19733 - $1176

  •   19735 - $1649

  •   19737 - $1209

  •   19739 - $1209

  •   19755 - $1264

  •   19757 - $1264

  •   19759 - $1369

  •   19761 – $1264

Total: $11,844

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  • Management Fee at 6%

  • Asset Management Fee at 1%

  • Ongoing Landscaping at $200/mo

  • Vacancy at 5%

APARTMENT SYNDICATION EXISTING CONDITIONS

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  • 9 units in poor condition:

  • Replace all flooring

  • Replace all cabinets

  • Replace appliances

All very cosmetic repairs approximately 6-18 months of construction total upon move outs

FAQ

  • What are other comparable MFH in the general area?  What are their rents /sq ft?                 Can the rent bump 10-20% be absorbed by the market?  - Multiple   listings at 1200-1400 for 2x1 800 sq ft.  Rentals in the area are scarce.

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  • Is it in a high vacancy rate area? – Great area, very low vacancy.  In a complex of other 4 plexes and multi-unit properties there are little to no vacancies within 1 mile radius

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  • What is current Occupancy / what is economic Vacancy?  - Economic vacancy in Portland is around 3-4% which is very strong market for rentals.  New units in are coming online in the 0 and 1 bd market.  2 bd room market does not have a lot of new buildings. 

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  • Why is the current seller selling?  - Owner is performing a 1031 Exchange

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  • What is the asset management fee and how is it calculated – 1% of the income of the property (not including RUBS). 

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  • What type of model, Yeild play, Value add or Hybrid – This is a value add and Hybrid as the property as it comes up to market will provide a great yield

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  • How many people are going to be involved in the deal, how much cash is needed, what’s the minimum investment.  - 550k is required, Shepard’s have put up 50k and minimum of 50k.  Max of 8 investors. 

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