TAKE A LOOK AROUND

When Alpha Omega assumed management of a 396-unit asset, occupancy had typically hovered at or below 77%, due mostly to poor management.

The challenge was not only overcoming the property being in receivership on the brink of foreclosure, Alpha Omega had to implement a turnaround plan while staying within the existing expense budget.

The Alpha Omega management team prepared a detailed business plan that focused on what could be controlled, including general property upkeep, resident screening and satisfaction, and make-ready quality.

With the on-site staff on board, resident retention began to increase, 100 down units were put back online within 90 days, and there were no deferred maintenance items remaining.

Annual income increased from $1.7 million to $3.9 million.

Alpha Omega Management learned the importance of treating residents with respect and exceeding their expectations a 774-unit asset located in the worst neighborhood in Dallas, the haunt of gangs and drug dealers. 

No one would manage it. But, rather than shutting it down, Alpha Omega decided to take it on.

So Alpha Omega rallied to take care of the people, eventually increasing occupancy from 70% to 96% while decreasing crime by 73% and completing an exterior renovation.

Alpha Omega Management has been doing business the same way with every partnership— increasing the value of properties while improving the quality of life for its residents.

Annual Income increased from $5.2 million to $7.4 million.

The success of Alpha Omega has enabled us to pay it forward in many ways. On a number of assets ownership has been able to refinance in record time with 100% return on the initial investment-- 1217 units in one of the most densely populated neighborhoods in DFW, income was drastically below market standards and outstanding debt seemed unsurmountable. 

Within 16 months rents were increased 52% and all debts were paid.

Annual income increased from $9.9 million to $12.6 million.

Within record time this ownership group was able to take that return and purchase another success managed by Alpha Omega where full renovation and upgrades were performed allowing for another refinance

opportunity and another 100% return.

Annual income increased from $2.5 million to $3.6 million.

Taking under performing or underdeveloped assets is an arduous task, nonetheless Alpha Omega does not shy away from the challenge—147 new construction asset that had previously been abandoned for four years

with only 12 units being habitable.

Within a year the buildings that were not mere frames had been completed, unit availability went from 12 to 147 allowing occupancy to grow from 8% to 96%. Annual income increased from $1.7 million to $3.6 million.

As model representation for ownership to lenders, ownership was able to successfully secure financing for phase two.