SR-1
Source
On- and off-market
Private real estate · Columbus · Dayton · Cincinnati
Ohio apartments, engineered from acquisition to exit.
JR Capital is a vertically integrated real estate investment firm. We source, renovate, build and manage every asset with our own teams, and we invest our own capital alongside our partners.
Focus
Value-add, mid-size multifamily
Also
Build-to-rent and ground-up communities
Markets
Columbus, Dayton and Cincinnati only
Goal
A leading Ohio multifamily owner-operator
Model
Acquisitions, construction and management in-house
One operator, every stage
Investor capital in.
Investor capital in.
Distributions out.
Founded by a chemical engineer and an electronics engineer who built a high-volume Ohio operating business before launching JR Capital. Every stage below is performed in-house, and operating data feeds straight back into underwriting.
UW-2
Underwrite
In-place income
AQ-3
Acquire
At a discount
CN-4
Renovate / Build
Our own crews
PM-5
Lease & manage
Affiliated manager
IR-6
Report
Quarterly, on time
In-house
Acquisitions, construction and management under one roof
Discount-first
We buy below our estimate of stabilized value
Ohio-only
Columbus, Dayton and Cincinnati, where our teams work every day
Aligned
Our own capital invested alongside our partners
Offerings are made only to verified accredited investors through formal offering documents.
Join the investor list →01
Why us
Good mid-size apartments are under-owned, under-managed and hard for investors to reach.
We built JR Capital to close four gaps we see every day in Ohio real estate.
The gap
The middle of the market is overlooked
Mid-size apartment communities are too large for most local owners and too small for institutional funds. Many are held for decades and run below their potential.
Our answer
We specialize in exactly this size
It is the segment where a focused, hands-on operator has the biggest advantage and the least competition.
The gap
Renovations drift over budget
Sponsors who rely on outside contractors and fee managers lose control of cost, schedule and accountability.
Our answer
We build and manage it ourselves
Our own crews price and complete the work, and our affiliated manager runs the property, so the business plan stays on track.
The gap
Older housing needs reinvestment
Many Ohio apartment communities need new interiors, systems and better management, while working households need quality rentals they can afford.
Our answer
We renovate to a durable standard
Upgraded homes and responsive management attract and keep good residents, which supports steady income for investors.
The gap
Investors lack time and access
Busy professionals want real estate in their portfolio but don’t have the deal flow, local team or hours to buy and run apartments.
Our answer
Passive ownership, institutional reporting
Investors own a share of professionally run communities and receive quarterly reporting, distributions and K-1s without managing anything.
02
Value creation
We create value at the purchase, in the build and through operations.
We don’t wait for the market to lift prices. Each stage of our process adds value we control, and the result is a stronger, higher-income property.
Buy right
Value captured on day one
We target purchases below our estimate of stabilized value, often from long-term owners, so investors start with built-in equity and a margin of safety.
Renovate
Forced appreciation, at our cost
Our crews upgrade units and systems at builder’s cost and on our schedule. Renovated homes earn higher rents, and higher income raises property value.
Operate
Income that compounds
Tighter leasing, collections, expense control and preventive maintenance lift net operating income year after year.
Capitalize
Returning capital
Once a property is stabilized, a refinance or sale can return investor capital, with conservative debt protecting the downside along the way.
For investors
Cash flow, appreciation we create rather than wait for, and the tax benefits of direct real estate ownership.
For residents
Renovated, safe homes and a manager who answers the phone and fixes things quickly.
For neighborhoods
Fresh capital in existing Ohio communities, improving housing without displacing the people who live there.
03
Growth plan
A clear growth plan, built one community at a time.
We are building a repeatable acquisition program in the three markets we already operate in, growing at a pace our teams can execute well.
Goal 01
Focused
Mid-size communities in the three Ohio metros we already know, nowhere else
Goal 02
Steady
A consistent pace of acquisitions, with every deal passing the same underwriting rules
Goal 03
Scaled
Building a substantial Ohio multifamily portfolio, one well-run community at a time
“Growth never overrides discipline. If a deal doesn’t meet our standards, we pass, whatever our pace.”
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Approach
We underwrite like engineers: margins of safety first, upside second.
Every deal has to survive conservative assumptions before we look at what could go right. These four rules decide whether we buy.
Rule 01
Buy at a discount
We target purchase prices meaningfully below our estimate of stabilized value. The discount is our first line of protection if anything goes wrong.
Rule 02
Underwrite what is real
We price deals on in-place income, not the seller’s pro forma, and test them against both market and stabilized cap rates.
Rule 03
Price capex with our own crews
Our construction team scopes and prices the renovation before we make an offer, so the budget comes from the people who will do the work.
Rule 04
Borrow conservatively
Moderate leverage, fixed or capped rates, and stress tests on interest rate and debt coverage. If a deal only works with aggressive rent growth, we walk away.
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Platform
One team from the first site visit to the final distribution.
Most sponsors hire out construction and management. We own those functions, which means fewer hand-offs, tighter cost control and one accountable team.
01
Acquisitions & underwriting
Deal sourcing through broker and direct-to-owner channels, underwriting, negotiation and due diligence.
02
Construction
In-house crews handle unit renovations, capital projects and ground-up builds on our schedule and budget.
03
Property management
JR Elite Rentals, our affiliated manager, runs leasing, collections and maintenance with the same reporting standards.
04
Asset management & reporting
Monthly budget-versus-actual reviews, quarterly investor letters and an online investor portal.
What vertical integration changes
| Typical sponsor | JR Capital |
|---|---|
| Renovation bids from third-party contractors | Priced and built by our own crews |
| Fee manager with many other clients | Affiliated manager focused on our assets |
| Schedule depends on outside availability | Crews scheduled around our business plan |
| Several firms share responsibility | One team accountable end to end |
Affiliate fees
Affiliate fees for construction and management are disclosed in each offering and benchmarked against third-party bids.
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Strategies
Where we invest.
We stay in asset types where our construction and management teams give us a real edge.
Core strategy
Value-add multifamily
Class B and C apartment communities with dated interiors, below-market rents or under-managed operations.
- Mid-size communities
- Interior and exterior renovations
- Operational improvements to grow income
Development
Build-to-rent & ground-up
New rental communities and townhomes where building it ourselves creates a cost advantage over buying finished product.
- Land entitled and planned in-house
- Built by our own construction team
- Leased and managed on completion
Income
Single-family rentals
Renovated single-family homes managed in groups, so they run with the discipline of a small apartment community.
- Central Ohio neighborhoods
- Renovated to a consistent standard
- Steady, diversified rental income
How you can invest
Single-asset offerings
Vehicle A
Invest in one property at a time. Review each business plan and choose the deals that fit you.
Diversified funds
Vehicle B
One commitment spread across several assets, markets and strategies, deployed by our team.
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Markets
Three metros we know street by street.
We only invest where our crews, managers and relationships already work every day.
Columbus
HQ · Central Ohio
Ohio’s capital and largest city, with state government, The Ohio State University and a growing technology and advanced-manufacturing base. Our headquarters and largest operating team.
Dayton
Southwest Ohio
Anchored by Wright-Patterson Air Force Base, major health systems and the University of Dayton, with lower entry prices than larger Midwest metros.
Cincinnati
Southwest Ohio
Home to Fortune 500 headquarters, the University of Cincinnati and a large healthcare cluster, with deep, diverse rental demand.
08
Standards
The commitments we make to every investor.
Institutional habits from day one, written down so you can hold us to them.
We invest alongside you
The sponsor invests its own capital in every offering, so our results move with yours.
Simple terms
A preferred return, a clear split and no layers of hurdles you need a spreadsheet to follow.
Fees in plain view
Every fee, including affiliate fees, is disclosed up front and benchmarked against the market.
Quarterly letters
Performance, occupancy and business-plan progress, good news and bad, within about a month of quarter end.
K-1s by March 15
Books closed monthly so tax documents arrive on time for your filing.
Your data, secured
Subscriptions, documents and distributions handled through a secure investor portal, never by email.
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How it works
From first conversation to first distribution.
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Leadership
Two engineers who build what they buy.
Raj Gumma
Co-Founder · Chief Investment Officer
Raj leads acquisitions, underwriting and capital strategy. A chemical engineer by training, he spent his early career at the corporate level in the oil and gas industry before turning to real estate.
He has led acquisitions across Columbus, Dayton and Cincinnati, from renovation and new construction to multifamily.
Jhansi Gumma
Co-Founder · Chief Executive Officer
Jhansi runs the company’s operations, including the in-house construction team that renovates and builds for every project and the property management function.
She holds a bachelor’s degree in Electronics and Communication Engineering and brings an engineer’s control of budgets and schedules to every job site.
Supported by a full-time team across acquisitions, construction, leasing and finance, and by outside securities counsel, tax advisors and lenders.
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Invest with us
Get first access to new offerings.
Join our investor list for our quarterly Ohio market letter and early notice when new opportunities open to qualified investors.
- Existing investors
- Investor portal
- raj.gumma@rrgp.io
- Office
- 2945 Donnylane Blvd, Columbus, OH 43235
Investor list