We have a singular focus on acquiring sub-institutional multifamily and won't stray out of this buy box. Beautiful apartment building with a restaurant space on the ground floor? - it's a no go for us.
Why?
We've taken many reps in developing small to mid-size multifamily properties and have built a process around this strategy.
We know the ins and outs of the rental market we're in, permitting processes/timelines, the appropriate contractors to use for certain scopes of work, and the landmines that exist within the location/asset class (will write about this at a later date).
Anything outside of what we know well and are good at is ultimately a risk we're not willing to take.
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