Looking for a commercial multifamily broker

[Jack Sevey]

My investing partner and I have recently decided to move into the greater Phoenix area. We are looking for small multifamily properties 5-50 units, C to B class, under $5 million with some value add potential but no major rehabs or repositions.  We'd like 12%-15% cash on cash return. My search lately has brought me 15 or so properties. The better ones seem to be around 8%-12% cash on cash. The worst one I saw was just below 6%.

I'd like to speak to a local broker regarding the feasibility of our criteria in the Phoenix market. We'd like to invest in the Phoenix metro simply due to the ease of proximity. Going to see a property after work is an easy thing to do for me. 

Thanks for help. You guys are awesome!

[Cara Lonsdale]

Originally posted by @Jack Sevey:

My investing partner and I have recently decided to move into the greater Phoenix area. We are looking for small multifamily properties 5-50 units, C to B class, under $5 million with some value add potential but no major rehabs or repositions.  We'd like 12%-15% cash on cash return. My search lately has brought me 15 or so properties. The better ones seem to be around 8%-12% cash on cash. The worst one I saw was just below 6%.

I'd like to speak to a local broker regarding the feasibility of our criteria in the Phoenix market. We'd like to invest in the Phoenix metro simply due to the ease of proximity. Going to see a property after work is an easy thing to do for me. 

Thanks for help. You guys are awesome!

 Jack, were you able to make a connection that provided what you were looking for?  If not, I am happy to help.  I can send you properties to consider as well as offer analyzing tools to evaluate different projects you are considering.  Many commercial brokers in AZ don't know how to present numbers.  They deal solely on proforma numbers, and usually short change expenses.  So, it is really important to have a good analyzer to break these deals down to see what you really have.

I can also assist with commercial financing if you need it.  So, I am happy to help, or answer any questions that you may have if you are still in the hunt.