Our team leverages interactive technology to manage and oversee projects in multiple markets. Here's a glimpse of our internal system:
Oklahoma PortfolioWe negotiated the purchase of 10 SFR occupied units sourced through our local project manager in Oklahoma City. Although the seller bought the portfolio 5 years ago for $531,000, he needed cash in less than 30 days due to an immediate life event and therefore accepted our offer of $520,000. We plan to renovate these units to our standard finish out in the coming months upon tenant vacancy.
DebtIn an effort to maximize returns and reduce interest rate related risks, we successfully refinanced 65 stabilized properties at 55% Loan-To-Value, 6.65% interest rate, 7-year term, interest only for 7 years, and no prepayment penalties after year 6.
The below chart is a snapshot of the real estate market showing the change from peak home value in 2022 to December 2022. Please note the price resilience for MSAs with median priced homes under $400,000 (i.e. Houston, San Antonio, and Dallas). This data helps support the supply/demand imbalance that still exists for workforce housing.
