Michael Franks has formulated the following criteria used in identifying multifamily properties for acquisition, management and resale. These criteria, and the acquisitions which they produce, re-enforce the Michael Franks contrarian philosophy of buying undervalued properties.

  1. Multifamily residential apartments
  2. Units – 100 +
  3. $25,000 - $50,000 per door
  4. Emerging and Stable Markets
  5. Undervalued (10% to 20% under Apraissed value)
  6. 60% or more 2 Bedroom units
  7. Long Time Ownership
  8. Age – preferably properties constructed between 1970 - 1990
  9. Utilities – individually metered
  10. Roofs – pitched construction
  11. Minimum Occupancy – 80% However, Michael Franks will consider lower occupancy on properties which require renovation if the properties are well located and present value enhancement opportunities.