Proper planning is as critical as proper execution. PROPERTY2HOME, with over 10 years of multifamily experience and over $1B executed in multifamily transactions, understands this. We begin every project with a strategic process designed to maximize the value of the property. It is a process that begins before we even set sight on an acquisition and continues throughout our long-term investment in the asset. Most importantly, every step along the way is overseen and evaluated by a diverse leadership team. This assures every aspect of the business has an equal voice throughout our ownership of the investment.
Less than 4% of the properties we screen become PROPERTY2HOME-owned assets. But, once the decision is made to acquire a property, there are critical steps to close on it. We prepare and deliver a business plan, finalize debt terms, form an entity and finalize our underwriting. We meet with our investor partners to help them understand the project. We have a series of meetings to develop our value added scope for the property, which includes meetings with our vendor partners to obtain bids to assemble our renovation budget and re-shopping the rental sub-market to verify and update assumptions. Prior to closing, we’re making property staffing decisions and preparing for takeover of the property.
PROPERTY2HOME has fine-tuned its integration process over dozens of acquisitions and our ability to leverage that expertise affords us a significant advantage when it comes to a smooth transition of ownership. In the integration stage, PROPERTY2HOME is screening staff and laying the foundation for our process improvements. The renovation plan is being finalized and our accounting system is being incorporated. Leasing materials as well as the resident payment portal are being readied.
Our goal is that residents, prospects, and the on-site team can feel the difference that we bring to the table right from the beginning of our ownership.