FAQ
Frequently asked questions
Quick answers to the questions sellers ask most: who Kallpa is, what we buy, how the process works, what seller financing means, and what we do with non-paying tenants and deferred maintenance.
About Kallpa
About Kallpa
- Who is Kallpa Properties?
- Kallpa Properties is a direct buyer of multifamily real estate (5 to 50 units) in Washington, Texas, and Kansas. We acquire properties with our own capital and seller financing, hold long-term, and operate the assets ourselves. We are not a wholesaler or fund.
- What kind of properties do you buy?
- B/C class multifamily, built after the 1960s, in stable workforce-housing submarkets. We look for limited deferred maintenance and a real value-add component: below-market rents, operational inefficiencies, or cosmetic upgrades we can fix.
- Where do you buy?
- Washington (5 to 50 units, focus on Pierce, South King, Snohomish, Thurston, and Skagit counties), Texas (20 to 50 units, focus on Austin, San Antonio, Houston, Dallas, and Fort Worth), and Kansas (5 to 50 units, focus on Wichita, the Kansas City metro, Topeka, and surrounding cities).
- Do you pay cash or use financing?
- Both. We close on cash deals when speed and certainty matter most, and we structure seller-financed deals when the seller wants payments over time, lower tax exposure, or a higher headline price.
- How quickly can you close?
- We can close in as little as 14 days on a clean cash deal with cooperative title. Seller-financed deals typically close in 30 to 45 days. We do not need a 60-to-90-day broker timeline.
Process
The selling process
- How does selling to Kallpa work?
- You contact Jose by phone or email. He asks for the basics: address, unit count, rents, and timeline. If it's a fit, we tour or get photos and a rent roll. We send a written offer within a few business days. If you accept, we sign a purchase agreement, do a short due diligence, and close at title.
- Do I need a broker to sell to you?
- No. We work directly with owners. If you already have a broker, we'll work through them; if you don't, you'll save the broker fee, which on a 5% commission is meaningful on a multifamily transaction.
- Will I have to disturb my tenants during the sale?
- Less than you would in a broker listing. We don't run open houses, we don't show the property to twelve buyers in a weekend, and we time inspections around tenant schedules. We are buying the building, not staging it.
Financing
Seller financing
- What does seller financing actually mean?
- You act as the bank. Instead of getting a lump-sum payout at close, you receive a down payment plus monthly payments over a fixed term (often 5 to 10 years) at an agreed interest rate. The property serves as the collateral. You can foreclose if we default, exactly like a bank can.
- Why would I want to seller-finance my property?
- Three common reasons. First, you spread the capital-gains tax over years instead of taking it all in one year. Second, you earn interest on what would otherwise be cash sitting in a brokerage. Third, you often get a higher headline price in exchange for the financing.
- What if I have a mortgage on the property?
- We can still structure the deal. Common approaches include subject-to (the existing loan stays in place and we take title subject to it), wraps (you carry a note that wraps your existing loan), or full payoff at close with you carrying a smaller second-position note. We walk through each option and the trade-offs.
Tenants & condition
Tenants and condition
- Will you buy a building with non-paying tenants?
- Yes. We underwrite the asset and the workout, not the rent roll alone. Buildings with delinquent tenants in markets like Tacoma, Wichita, and Houston are sellable, just to a narrower set of buyers. We are one of those buyers.
- What about deferred maintenance?
- We expect some. We are buying value-add, which by definition means there's work to do. What we avoid is structural problems we can't price (foundation, roof, sewer mainlines) without a clear path to fix.
- Do you buy occupied properties?
- Almost always. Vacant buildings are rare in our markets and usually mean a deeper problem. Occupied is normal.
Tell Jose about your property
Two minutes. No broker. He'll read it himself and reply within a business day.