|
Massachusetts, Rhode Island, New Hampshire, Connecticut
C-Level Enterprises purchases multi-unit apartment buildings with 16 to 150 units in the New England area. C-Level's business plan is to purchase and hold at least $20 million in property over the next few years averaging two to three transactions per year. C-Level's strategy is to purchase properties too small for REITs and too large for many typical individual investors, where there is not as much competition with a buy and hold strategy while improving the property over time from cash flow.
Target Investment Criteria & Desirable Apartment Property Features:
- Massachusetts, RI, CT, or NH locations, within 1.5 hours of Milford, Massachusetts preferred.
- Properties in more suburban areas, as opposed to downtown Boston.
- From 14 to 150 residential units and $700,000 to $4 million purchase price.
- Minimum down payments with flexible sellers willing to do some seller financing with a second. C-Level Enterprises can assume ANY mortgage by setting up a trust.
- Professionally managed property with clear and well documented 3 year operating history . (ACTUAL and DOCUMENTED financial history, NOT projected income levels).
- Good capitalization rates preferably over 10% and target cash-on-cash over 20%
(not less than 2% over actual or realistic borrowing rate).
- Attractive pricing and/or financing terms including 7-10X NOI for buildings in good condition
- A small percentage of 1 bedroom units and studios, unless low vacancy rate can be shown
over 2-3 years.
- Ability to improve or develop the property to add value a plus
Obviously every property will not have all these features, so we have tried to prioritize them in the order of importance. Brokers bringing properties will be protected when they are the first to bring that property to our attention within the most recent 4 months within the limits of any other agreements that may have been made previously. C-Level reserves the right to use a buyer's broker in all transactions with fee to be paid by seller.
If you have property meeting this criteria please email me at:
Bob@CLevelEnterprises.com
Ideally include a setup sheet with all income and expense details.
Brokers Protected And Finder Fee For Others.
7% to 8% investment notes, fully backed by these apartment building purchases,
are now available to qualified investors: Click Here For Terms
BACKGROUND: Mr. Norton got his real estate license in 1990 and his family has always been involved in real estate investment and sales. He purchased his first property in 1987 and developed one of the first "next generation" MLS systems in the early 1990s which allowed virtual property tours using high resolution pictures at HomeView. This venture achieved penetration of brokerage listings of over 72% in less than 18 months and was sold to a private investor group after being grown to $156 million in revenue. Mr. Norton has been involved in commercial real estate and leasing of many properties since 1989.
C-Level seeks properties in smaller cities and suburban areas which can be purchased at attractive prices and have either superior increased in value, with improved management and possibly some additional investment, or superior cash-flow. All properties will be professionally managed, but Mr. Norton will apply his considerable creativity, business and management skills to improve the property's value over time with annual plans to upgrade the property, rental rates and return on investment.
Although C-Level's own funds are primarily used, Mr. Norton will use leverage and can draw upon his network to bring other investment dollars to transactions that are larger and particularly attractive through a partnerships. An investment fund with a guaranteed yield for 5 to 10 years that is fully secured by second mortgages will be developed in 2004 to increase the number and size of transactions C-Level Enterprises can do. |
