What We Do

Bonvolo Real Estate Investments acquires and manages multi-family and commercial properties. We also partner with others in their own real estate deals. Our strategies focus on recurring income, appreciation, tax benefits, security, strong markets, conservative underwriting, and business plan execution, all while emphasizing a high quality home living experience for residents.

For our actively owned and managed properties, we run the entire real estate selection, acquisition, and management process while collaborating with many selected subcontractors.

Debt or Equity Investing

  • Debt investing: Regular monthly payments at pre-set interest rates. More dependable and consistent.
  • Equity investing: Direct acquisition or partner investment in a property to share in its variable income stream plus longer term value growth. Fluctuates depending on performance, with higher upside potential.

Primary Model: Long Term Cash Flow

  • After initial property remodel and lease-up phase, then we hold for long term cash flow.
  • Generally hold for at least 5 years, then either cash-out refinance to reimburse original funds or continue direct cash flow investment depending on current financing & sales markets plus our initial business plan.

Secondary Model: Re-position / Add Value and Re-sell

  • Improve property conditions, lease-up, and market for sale.
  • Get money back sooner to reinvest elsewhere.

Passive Investing through Syndications and DSTs

  • We also invest funds into other people’s deals to create passive income streams through diversification across markets and property types.
  • We evaluate each deal as if we were direct purchasing it ourselves (market, property, business plan).
  • We also evaluate the sponsor’s team, track record, and ability to perform across varied market conditions.

Market Selection

After studying, networking, and contacting real estate brokers, property managers, city staff, Chambers of Commerce, and many other economic advisors, we have been able to target specific markets that are in the path of progress. This has allowed Bonvolo to focus on areas of growth both locally and across the country. The company continues to seek expert consultation to make substantial investments.

We focus on either very steady and dependable markets, new growth markets, or correcting markets that are coming back from previous cycle down turns. There are many parameters used to identify these markets from historic growth patterns as well as future projections that are weighed in the ultimate decision process. The demographic variables are just one component in this complex evaluation process.

An essential ingredient in our success is having high quality management teams for multifamily / commercial properties in selected markets. We partner with those companies that possess special training, operational & marketing expertise, and knowledge of their market’s local needs and dynamics. We take a unique approach by understanding how to manage and influence the management teams, finances, and marketing for long term investments. We work with teams who are well educated and experienced in leasing, maintenance, and coordination of onsite and regional portfolios.

We are dedicated to real estate investing for the protection and enhancement of investment capital. Our expertise in multifamily, office, and retail – combined with the hands-on approach of our management teams – drives the performance, success, and strong foundation needed for our investments.

We are open to many markets, both in Washington state and selected metros in many other states. We strategically investigate key markets that have an increased likelihood of both near and long term higher return on investment. We also tactically respond to high return opportunities in other markets that come to us through our increasing network of connections and which meet even more stringent criteria. Current direct acquisition priorities are being placed in several Washington state markets and several out of state markets which demonstrate an exceptional balance between higher returns, stability, and growth. We invest in other people’s deals around the country.

General Property Criteria

Multi-family

  • No matter where in the economic cycle, people need a place to live
  • Location:
    • Well-located with stable tenant base or increasing base from path-of-progress
    • Stable – or preferably increasing – local economic drivers, companies, job growth
    • Good marketing visibility
    • Solid local property management team available
    • Ability for future investor buyers to finance (i.e., lenders are receptive to area)
    • Prefer average market rents to be lower cost than average PITI mortgages for single family home ownership
    • Occupancy levels high for well-run apartment complexes in 2 mile radius
    • Low level of vacant overall complexes in area that could be re-positioned by others as future competition
    • Low level of new construction permits in 3 mile radius
  • Number of units: Prefer 20+, though property fundamentals are more important than specific number of units
  • Age: Can be flexible on property age depending on condition and infrastructure, though preferably 1980+
  • Pitched roofs, sub-metered primary utilities, good plumbing and electrical infrastructure
  • Minimum occupancy:
    • Cash flow: 80+% occupancy
    • Re-position: Any occupancy depending on price point, post-acquisition projects, and conservative reserves in place

 

Office & Retail

  • Selective, sometimes contrarian value-add purchases
  • Location:
    • Well-located with stable area of quality commercial tenants or increasing base from path-of-progress, or consider options where zoning has restricted future commercial development and property has a “grandfathered in” advantage
    • Stable – or preferably increasing – local economic drivers, companies, job growth
    • High visibility and accessibility
    • High traffic count
    • Flexibility for current and future tenants / uses
    • Cost and complexity of Tenant Improvements (TIs) factored in for both current and future business tenants
    • Compatible with other local commercial properties
      • Synergistic where people go for similar services (medical, nightlife, etc.)
      • Or different but needed uses (grocery, government services, etc.)
  • Age: Can be flexible on property age depending on condition and infrastructure, though preferably 1980+
  • Pitched roofs, sub-metered primary utilities, good plumbing and electrical infrastructure
  • Minimum occupancy:
    • Cash flow: 75+% occupancy with good demand / options for any current vacancies
    • Re-position: Any occupancy depending on price point, post-acquisition projects, and conservative reserves in place