Their client mix is 85% multi-family housing/apartments, 10% single family homes (multi-unit), and 5% commercial, made up of property investors focused on multifamily living.
The organization has developed a reputable presence, by serving Milwaukee & Kenosha, Wisconsin.
The well-developed management team includes a controller, two senior vice presidents, and a superintendent. There are also 3 property managers, 3 in 1 maintenance, and 1 office administrator.
The owner oversees his leadership team and will do some site sourcing, as he still finds that enjoyable. His staff handles the day-to-day operations. As a show of good faith and vested interest in the ongoing success of the company, the owner has offered to roll equity for up to 25% and provide a 4-5-year transition period.
The acquisition includes about $450K in assets, which are company vehicles, deposits, and AR. A 15+ year established property management firm where the owner is seeking a strategic minded buyer with business acumen. Priced at $3,100,000, a 10% down payment will return $366,402 in the first year after debt payments.
A 118% return on investment! Two banks have already preapproved this loan for a qualified buyer with only 10% down and 65% from a lender. The upcoming growth, coupled with a 35% profit margin, makes this streamlined property management business a great opportunity
