Andy Moore

Coto de Caza, CA (USA)
Role(s):
Founder/Owner/Principal

Cashequi Properties, LLC

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Location: Coto de Caza
Industry: Real Estate
Year Founded: 2008
Number Employees: 1-10 people
Description: We acquire and rehab single family residences in distressed markets, primarily located in the Midwest. The renovated homes will be held/managed as cashflow positive rentals until financial and residential markets stabilize and home sales prices return to historic levels. All of our homes are located in desireable communities of towns and small cities that promote (through tax incentives and other initiatives) diverse economies. We do not purchase homes in cities heavily tilted toward one failing industry (e.g. Detroit). Nor do we purchase homes located in "tough" inner-city rental markets. The vast majority of the populace in areas we target are proud owners of their homes and this reflects in the community. We believe real estate markets will recover first and strongest in these areas. We will not purchase a home unless we believe our out of pocket costs (purchase price and closing costs plus costs to rehab and market the home for rent) will be less than 60% of the after-rehab value (ARV) of the home (as established by independent appraisers). Also, we will not purchase and rehab a home unless we believe the Gross Rent Multiplier (GRM) for such home will be LESS THAN 5 YEARS. For example, the total cost (acquisition and rehab) for a typical home will be less than $30K, but it conservatively will appraise for more than $50K ($30K < 0.60 (ARV)) and rent for more than $500 per month (GRM < 5 Yrs). We seek growth capital that can be structured as debt or equity or a hybrid of both. Our rehabbed rental properties will generate sufficient net cash flows to service debt, if that is the investor's preference. However, we believe we can generate substantially larger returns for equity investors wishing to share in our ability to create instant equity by acquiring and rehabbing properties for substantially less than their after-rehab values. Thank you for your consideration.