2009 has been an interesting year for our market.  We have seen one of the tougher years for multifamily brokerage in many years.  DFW has been better than most major markets, but it has still been slower than we have seen in recent years if not ever.  Most brokerage companies have closed fewer deals than in previous years. 
 
MBP Capital has not seen the same slow down.  Because we represent buyers, our close clients have kept us very busy.  The recent hope for "great deals" has forced us to look at our clients with more scrutiny due to the fact that most deals have been sold either all cash, through creative financing vehicles or, if a lender is needed, for a new loan or assumption, the lending criteria has tighten.  This tightening of underwriting criteria has taken 20% down loans to up to 40% down (in some cases), and the borrower must have multifamily experience and ample cash capabilities and proof of funds.  Although the interest rates have remained low, loans are much more difficult to obtain, but they are certainly available to those that can meet the higher standards.
 
MBP Capital is on the leading edge of Buyer Representation.  We track every deal in DFW and other Texas markets.  We have a solid relationship with banks, owners and brokers.  Therefore, we always know a great deal about the market and what's available. 
 
We expect 2010 to be an incredible year for buying multifamily.  With the price adjustment that was accomplished in 2008 and 2009 as well as a large amount of CMBS loans coming due in 2010, 2011 and 2012, we expect a large influx of very good deals to come on the market.  These deals will come from several directions including REO's and foreclosures and much more motivated sellers than ever before.  We consider the next year to bring some of the best buys that we have seen.
 
Therefore, we are poised to jump on all deals that come on the market.  We analyze them, visit them, underwrite them, and then we let our clients know whether a deal is worth further pursuit. 
 
Currently we are focused on foreclosure deals, accelerated notes causing greater motivation, and we feel that we will come up with some great buys.
 
We only work with a small number of clients.  Basically we have found that 5 to 10 is all we can handle at a time.  Once we team up with you, we focus on your criteria and get out there and find you the deals that work well.
 
We are interested in knowing whether you are interested in letting us focus on your multifamily hopes in DFW?  If so, please respond to this email and include your updated criteria as well as anything you can tell us about you, your group, your experience, your cash availability for a deal, and anything that will help us understand your goals and capabilities.
 
We currently know about 225 multifamily properties for sale in the DFW market.  Of those 225, we feel that there are 70 worth further review and possible pursuit.  Of those 70, we know about 40 REO or future foreclosures.  We have knowledge of 13 multifamily foreclosure deals that are happening this December.
 
If you would like us to focus on helping you, please let us know as soon as possible.  We will only work with 10 or less real buyers with the capability to close, either all cash or with a strong story and experience.  If we commit to you, we promise to work hard on your behalf and bring you the best opportunities we can find.