Investment Strategy
Buy Distressed. Renovate. Build Equity.
Hyman Equity Group acquires undervalued real estate across the U.S. and internationally, executes targeted capital improvements, and holds for long-term compounding — turning distressed assets into institutional-quality income producers.
Our Approach
The Investment Thesis
Distressed, underloved real estate exists in every market — domestic and international. We buy it below replacement cost, renovate it to institutional standards, and hold it long enough for the equity and income to compound. That cycle — acquire distressed, add value, build equity — is the engine of everything we do, regardless of geography.
Acquire Distressed Assets
We target properties that are undervalued, mismanaged, or in need of capital — anywhere in the world — acquiring them at a discount to replacement cost and unlocking equity through renovation and repositioning.
Renovate & Reposition
Every acquisition goes through a targeted capital improvement program — upgrading units, systems, and curb appeal to attract quality tenants, qualify for government programs, and maximize stabilized NOI.
Government-Backed Income
Where eligible, we layer in government-pay housing programs after renovation — Section 8, VAWA housing, foster care contracts, supportive housing, and PBRA — converting repositioned assets into predictable, government-guaranteed income streams.
Hold for Long-Term Equity
We are not flippers. Once stabilized, we hold — letting compounding rents, forced equity from renovation, and long-term appreciation work together for our investors over decades, not years.
What We Own
Asset Classes
Four distinct categories, each selected for its structural demand, income stability, and alignment with our operational expertise.
0
Unit Target
Multifamily Commercial
Large-scale apartment communities of 50+ units across domestic and international markets, typically operating under government housing programs. These assets generate predictable income through long-term HAP contracts and Project-Based Rental Assistance agreements.
- 50+ unit communities
- HUD & Section 8 eligible
- Long-term HAP contracts
- Institutional management
8–12% Cash-on-Cash
Target Return
10–20 Years
Hold Period
LIHTC
Primary Program
Government-Funded Housing
Properties financed and operated under LIHTC, HOME Investment Partnerships, and Community Development Block Grant programs. These assets combine tax credit equity, below-market debt, and government-backed occupancy to deliver risk-adjusted returns.
- LIHTC tax credit structures
- HOME & CDBG financing
- Affordability covenants
- State-supported compliance
10–15% IRR
Target Return
15–30 Years
Hold Period
SFR
& Small Multifamily
Residential Rentals
Market-rate single-family and small multifamily residential properties in high-demand rental submarkets across the U.S. and internationally. These assets provide portfolio diversification, strong cash flow, and appreciation potential.
- Market-rate positioning
- High-demand submarkets
- Value-add opportunities
- Strong rent growth markets
7–10% Cash-on-Cash
Target Return
5–15 Years
Hold Period
Ground-Up
Development
Storage Units
Ground-up and value-add self-storage development in growing markets. Storage is one of the highest-margin real estate categories with low operating costs, minimal tenant relations complexity, and strong demand fundamentals across diverse geographies.
- Ground-up development
- Climate-controlled units
- Digital management platform
- Low operating cost structure
12–18% IRR
Target Return
7–15 Years
Hold Period
Program Expertise
Government-Paid Rent Programs
We specialize in housing programs where the government pays the majority — or all — of the tenant's rent directly to the landlord.
These programs eliminate collection risk, stabilize cash flow across economic cycles, and create a mission-aligned portfolio that serves vulnerable populations. Our expertise spans the full spectrum of government-pay housing programs — from federal voucher programs to state-administered contracts for special needs populations — and we pursue these programs wherever they exist, domestically and internationally.
Section 8 / HCV
Housing Choice Voucher Program
The largest federal rental assistance program. The government pays the difference between 30% of the tenant's income and the fair market rent — directly to the landlord. HAP contracts eliminate collection risk and provide reliable, government-guaranteed monthly income.
VAWA Housing
Violence Against Women Act — Battered Women's Housing
Federal and state-funded housing programs for survivors of domestic violence, sexual assault, and stalking. Government agencies and nonprofits contract directly with landlords to provide safe, stable housing — with rent paid in full by the contracting agency.
Foster Care / Wards of State
State-Contracted Housing for Wards of the State
State DHHS and county agencies contract with private landlords to house youth aging out of foster care, wards of the state, and individuals transitioning from state custody. The government pays rent directly, providing stable, mission-driven income with minimal collection risk.
Supportive Housing
Permanent Supportive Housing — Mental Health & Disability
State and county mental health authorities contract with landlords to house individuals with serious mental illness, developmental disabilities, and other special needs. Rent is paid directly by the contracting agency under long-term master lease or per-unit agreements.
PBRA
Project-Based Rental Assistance
HUD-administered rental assistance attached to specific units. Long-term PBRA contracts (20+ years) guarantee government rent payments regardless of tenant income changes — the most predictable income stream in affordable housing.
Rapid Rehousing
Emergency & Rapid Rehousing Programs
HUD Continuum of Care and government-funded rapid rehousing programs place homeless individuals and families into private rental housing, with government agencies paying rent subsidies directly to landlords during the stabilization period.
Deal Standards
Acquisition Criteria
What we look for — and what we walk away from.
Must Have
- Distressed or undervalued asset with clear renovation upside
- Domestic or international market with identifiable demand fundamentals
- Clear path to government program eligibility or existing program in place
- Minimum 8% stabilized cash-on-cash return after renovation at underwritten occupancy
- Identifiable forced equity through capital improvements and repositioning
- Experienced local property management available or in place
We Walk Away From
- Markets with no identifiable path to stabilized government-pay or market-rate income
- Assets requiring speculative rent growth to pencil
- Properties with unresolvable environmental or title issues
- Sellers unwilling to provide adequate due diligence access
- Assets with deferred capital needs exceeding our repositioning budget
Where We're Going
Growth Roadmap
We are building toward a $250M+ global real estate portfolio — starting with our first acquisitions now and expanding our renovation capacity, government housing program relationships, and geographic reach over the next decade.
Foundation
Close our first acquisitions — distressed multifamily and government-funded housing assets domestically. Execute renovation programs, stabilize occupancy, and establish HUD, lender, and government agency relationships.
Diversification
Expand into residential rentals and launch our storage platform. Begin evaluating international acquisition opportunities. Recycle equity from stabilized Phase I assets. Grow AUM to $25M+.
Scale
Execute first international acquisitions. Expand storage platform across multiple markets. Grow government-funded housing portfolio through LIHTC and HUD disposition acquisitions. Target $100M+ AUM.
Institutional
Achieve $250M+ AUM across a diversified global portfolio. Establish institutional capital partnerships. Expand team and operational infrastructure to support portfolio at scale.