WE BUY HOUSES, APARTMENT BUILDINGS & HOTELS
Looking to sell a property?
To learn more about our purchase criteria for commercial and residential deals, please see the details below. If your property fits our criteria, feel free to send us the details of your deal to john@CleareToClose.com
with the information requested below
Suburban Purchasing Criteria
Target Type of Homes
3+ Bedroom, Basement, and/or Garage
Brick or Frame
Target Rental $800+
Cities of Interest in Southeast Michigan
Ann Arbor, Allen Park, Berkley, Bloomfield, Bloomfield Hills, Centerline, Clinton Township, Dearborn, Dearborn Heights, Eastpointe, Ecorse, Fraser, Farmington, Farmington Hills, Ferndale, Garden City, Harper Woods, Hamtramck, Huntington Woods, Inkster, Lincoln Park, Livonia, Northville, Novi, Oak Park, Redford, Romulus, Romeo, Roseville, Royal Oak, St. Claire Shores, Southfield, Southgate, Sterling Heights, Taylor, Wayne, Warren, Westland, West Bloomfield, Wyandotte, Ypsilanti and other cities surrounding Southeast Michigan
We can close on any property that meets the above criteria in 15 days or less
We purchase homes from $5,000 to $200,000 with renovation work needed
We are looking to purchase 20+ homes per month via REO, private sale, bulk package, short sale, notes, etc.
Apartment complexes/strip malls (renovations needed acceptable) in Metro Detroit surrounding areas
Purchase price must be under market value
Apartment Purchasing Criteria
Asset classes currently investing in:
Commercial - Office & Warehouse Space
Mixed Use, including high rise
Would consider hotels/hospitals and resorts. Limited and full service.
Must be OFF Market!
Population should be greater than 100,000 residents in the complex city and bordering cities
Area should be stabilized with an outlook for an upward trend for growth over the next 10 years
Seeking (30-500 units)
Targeting 15+ acquisitions per year
Area must have a high rental demand
We will consider A, B or C+ area
Vacant apartment buildings have consideration, prefer underperforming/under market rents and differed maintenance to bring the rents up. Value-add opportunities
Occupied buildings minimum 10% Cash on Cash Return
Area must be supported by more than one major employer
Nothing less than 30 units in our backyard (Tri-County, specifically Eastpointe, Clinton Twp, Roseville, Warren, Shelby Twp, St Clair Shores). Must be 60+ units if property is outside of market but drivable within an hour of Southfield 80+ units out of state or over an hour from Southfield.
Please provide the information below for these properties:
Area Rent Rate
Financials (leases, rent rolls/ledgers, rent receipts)