For Brokers

Submit a multifamily deal to Kallpa

Kallpa is a long-term multifamily buyer in Washington, Texas, and Kansas. If you represent a listing or have a pocket deal in our buy-box, send it. We pay full commission, return LOIs in 2 to 3 business days, and we don't retrade. Repeat-broker relationships are the goal.

Buy-box

Our buy-box

We buy B/C class multifamily in workforce-housing submarkets, built after the 1960s, with a real value-add component (below-market rents, operational upside, or condition upgrades).

State	Unit range	Notes
Washington	5 to 50	Home market. Tacoma, north Sound, broader Puget Sound.
Texas	20 to 50	Stable, growing submarkets.
Kansas	5 to 50	Wichita and surrounding.

We are not the right buyer for:

D-class assets in declining neighborhoods
Fully-stabilized turnkey properties at market cap rates (institutional buyers will pay more)
Properties outside WA, TX, KS (honest answer beats wasted weeks)
Deals where the seller needs a buyer willing to misrepresent underwriting

How we work

How we work with brokers

Full commission, paid at close.

Whatever's on the listing agreement. We don't negotiate the commission down as part of the purchase price, and we don't ask for commission-haircut games.

LOI in 2 to 3 business days.

Send a complete OM (T-12, rent roll, address, asking price or guidance) and you'll have a written LOI back within 2 to 3 business days. If we pass, we tell you why, fast.

Honest underwriting, no retrades.

We recast seller financials with realistic vacancy, market-rate insurance, capex reserves, and management costs before we make our offer. The number we put in the LOI is the number we close at, unless DD turns up something the OM didn't disclose. We do not retrade for leverage.

Proof of funds, real LLC on the contract.

Available on request, under NDA if needed. Our buyer entity is a real Kallpa LLC, not "and/or assigns." Every deal closes in a Kallpa entity. We have never assigned a contract.

Direct line to the decision-maker.

When you email or call about a deal, you're working with Jose. No analyst layer, no acquisitions associate who has to "run it up the chain." If we're a fit, you'll know within a day. If we're not, you'll know within an hour.

What we need

What we need to underwrite

Send these and we can move:

Address, unit count, year built
Trailing 12 P&L
Current rent roll with lease end dates
Any known deferred maintenance or near-term capex
Asking price or guidance range

If you only have a teaser, send the teaser. We'll tell you whether to invest the time on a full package.

Long-term relationships

Repeat broker relationships

Most of our broker volume comes from brokers we've closed at least one deal with. We are easy to work with on documentation, due diligence, and lender coordination. We close on time. One deal usually turns into a long-term relationship.

If you're new to working with us, the first deal is the proof. Send a fit-the-box property and you'll see the LOI turnaround, the underwriting, and the close behavior firsthand. That's the only way trust gets built.

Submit a deal

Send a complete OM (T-12, rent roll, address, asking price or guidance) and you'll have a written LOI back within 2 to 3 business days. We pay full commission, paid at close.