Company overview:
Verelta Properties has been investing in residential properties for the past 9 years, and is now transitioning to the multifamily world. Currently, we own properties in Mahoning County, Ohio, and Jackson, Mississippi.
Markets:
- Columbus, OH
- San Antonion, TX
Criteria:
- Size: 20-40 units, preferably from mom and pop owners
- Class: C+ and B class properties
- Condition: Some deferred maintenance and light renovation okay
- Value add: Must have upside potential from operations
- Cashflow: Must cashflow at acquisition using actual reported financials
- Deal size: $1.5MM – $4MM