How long has USREEB been in business?
USREEB has been in business since 2014. Our CEO, Sean Tarpenning, is the visionary owner of USREEB. He started this company in Kansas City, MO. We have grown with the market appreciation and in 2017, we opened the Dayton and Cincinnati markets.
What markets do you operate in and can you tell me more about them?
Kansas City – we are buying in all suburbs. Raytown, Independence, South KC, Grandview are A-B grade areas. The inner city of Kansas City is mostly C grade. What is interesting about KC is that the A grade backs right up to the C grade. Ultimately the C grade is very block by block as well.
- Attractions/Employment: Cerner, Honeywell, Sprint, Ford Motors, Hallmark, Sprint. UMKC University, Rockhurst University, Royals/Chiefs
- Metro Population: 2,159,159
Dayton – we are buying in A and B grade areas. There are very tiny pockets of C grade areas in Dayton overall. The tenant demand is very high in Dayton. As you go out of the city and into the suburbs of Beavercreek, Kettering, Oakwood, Huber Heights, Riverside – taxes do get higher. Dayton is a historical area and very, very clean. I believe this is why the taxes are a bit higher. Lots of revitalization going on and we see potential for long term appreciation and long term tenant cash flow.
- Attractions/Employment: Premier Health, CareSource (medical), Wright-Patterson Air Force Base, Honda of America-Anna, University of Dayton, Wright State University
- Metro Population: 799,232
Cincinnati – we are buying in A and B grade areas. Lower taxes than Dayton and a bit higher population. High tenant demand as well and higher rents. The city is well developed, a few years ahead of Dayton in terms of revitalization and population growth. Lots of multi family unit opportunities.
- Attractions/Employment: Kroger, Proctor and Gamble, Cincinnati Bengals/Reds,
- Metro population: 2,137,406
Can you explain your grading system – A, B, C?
USREEB uses the A, B, C grading system. An A grade property is typically 1970’s or newer, mostly owner-occupied area, nicer finishes – granite counters and stainless steel appliances. Many times A grade properties have the most built in equity, but offer lower returns. B grade is typically a mix of tenant-occupied and owner-occupied area, 1950’s and standard finishes. C grade is typically tenant-occupied area and older homes. C grade is often seen as riskier. C grade offers the highest returns.
What is addressed in the rehabs and do you offer any warranties?
USREEB addresses all cosmetics and major mechanicals. If the HVAC, HWT or appliance is over 10 years old, we replace it. For a 30 year composite roof, we’d like at least 10 years of life left on the roof as well. On any property, we will provide you with a scope of work of what is being replaced in the property. Our finishes are modern, clean and MOVE IN READY! We offer a 90 day maintenance warranty after any purchase.
Do you have Property Management?
Our sister company, Only Choice Property Management, was designed to service our customers. We keep our costs low and pass the savings onto the owners. We have dedicated property managers, accountants, leasing agents, maintenance coordinators, and maintenance technicians to manage your passive investment. We use the system called PropertyWare where you will have your own login, portal, access to tenant leases, etc.
What are the Property Management expenses?
Our current fee structure is 8% of the collected rent. We do not charge a sign on fee to bring over a property that you purchased with USREEB. Other properties that you bring over is a $500 sign on fee. We do not charge for the first tenant to be placed at your property. Tenant renewal charge is $100 to the owner. The charge for a new tenant is one months rent.
How many doors do you currently manage?
Between all 3 markets, we manage over 1,100 doors.
How do I reserve a property?
- Take a look at our inventory list. Check out the “available” properties.
- If you like a property and would like information, we can provide a scope of work/details/lease info for any property
- If you’d like to move forward with reserving the property, we will sign a contract. We do not require any earnest money down and your contract would be contingent to your own third party home inspection. We will use our preferred title company, your lender of choice and we will typically close within 30 days. We also have an in house lender.
- After the closing, our in house property management team will reach out to you to get you set up in their system
Can you provide references?
Absolutely, we can provide references upon request.
Can I tour any of the markets?
We invite all of our clients to either market for a tour of the properties and meet and greet with our teams!
Can you provide lender references?
Yes, we can provide references upon request.