Mid Month Update November 15, 2014

 

As 2014 begins to wind down we are starting to see a shift in the deal flow mix at Altus.  Up until recently we primarily reviewed smaller deals (<$2M) and now we find ourselves looking at fewer, but much larger deals ($2M+).  This is exciting for several reasons;  1)  Altus is being viewed by its network as a true player for these types of opportunities and 2) this allows us to focus our energies on larger, more profitable deals and gives us with more time to network with and develop our investor base so that we are meeting your needs.  

Now on to a summary of what we’ve been up to.

Education:

  • Forrest and I were in Phoenix last week for a 3 day workshop on private money.  The event not only covered strategies for owner/creative financing, hard money, lenders, private money and sponsors but discussed entity structures and marketing as well.  It was a great opportunity to network, share our expertise, and learn from others in the industry. 

Funds:

Altus Hybrid Growth Fund

  • The strong rental market continues to benefit our rental portfolio which remains at 100% occupancy.  Our monthly property drive bys are validating that our property managers are doing a great job keeping tenants motivated to show pride of “ownership”.
  • We began work on the single family home on Palm Avenue in Healdsburg 3 weeks ago and are making steady progress.  The flip market remains tight but we are reviewing opportunities daily to see if they meet our criteria.

Altus Multi Tenant Income Fund

  • We currently have two complexes in Sacramento in contract – one with (6) units and one with (46) units.  The (46) unit complex is located in an up and coming area with multiple retail centers being built and new businesses moving into the neighborhood.  The complex has an existing, solid, long term tenant base. Capital improvements may include a new roof, replacement windows and improved curb appeal which will allow us to increase rents and increase property value.  We are working through our due diligence to verify the performance of these properties before determining if we will move forward.
  • We are also in discussions on three complexes in Tulsa and one in Las Vegas, although we don’t have agreements in place as of yet.

Opportunity Knocks:

Sonoma/Napa County:

  • Graton, CA – This is a single lot with 3 homes currently on it.  We have completed work to get the homes re-connected to an existing well and are working on a potential lot split to optimize resale value.
  • Sonoma, CA – After a short rent back period, the seller moved out of the property earlier this week and we had a crew on site the following day to begin major renovations, expected to total more than $300,000.  We will be doing an addition to the master bedroom to create a large master suite, converting an outbuilding into a pool house and opening up the kitchen/family room areas to create an amazing space for entertaining.
  • Napa, CA – We are still waiting for the lucky buyer to come along for this great 4/2 home on Spencer St. in historic Napa.  Take a look at this beautiful property here:

http://www.zillow.com/homedetails/1950-Spencer-St-Napa-CA-94559/2112923693_zpid/

Sacramento Area:

  • Carmichael, CA  - We currently have 4 condo units available on Stella Lane, either individually or in a discounted, bulk package.  Please contact our office at (707) 932-5887 if you have any interest.  This is a great 1031 Exchange opportunity!
  • Loomis, CA – This 2,600 sqft. custom 4 br/4 ba home sits on 10 acres, complete with 9 stall barn, riding arena and 3 car garage.  See the luxury country setting here:

http://www.zillow.com/homedetails/6577-Laird-Rd-Loomis-CA-95650/17667693_zpid/

If you do not currently receive our Opportunity Knocks emails with specific investment opportunities or if you have any interest in discussing any of the above opportunities in greater detail, please reply to this email or call our office at (707) 932-5887.  We will gladly add you to our distribution list and/or schedule an appointment to discuss your investing needs further.