investment: Property Tax Relief Advocates!
- 11/13/09 10:08 AM
The last couple of years have taken a huge toll on investment properties. With vacancy rates climbing and weakening Cap Rates, some properties have lost 30% or more of their value. Regrettably, property taxes on commercial properties have not been adjusted to reflect this new value. As such, already strapped owners are paying an even higher percentage of the revenues to property taxes. The rule I have always given my teams is don't present me with a problem...unless you also have a solution. Having identified a problem...here's a great solution: Prime Property Tax Negotiation, LLC. Prime PTN was formed to … (0 comments)
investment: My client wants to write you an offer today!!!
- 10/03/09 08:30 AM
My intent with this site is to create an area where readers can learn about multifamily real estate and the market in general. Rarely do I commercialize the site with information about a specific opportunity. I depart from that with this post as there is an investor who urgently needs your and my help. He has an exchange ID date rapidly approaching. I've also included some of our other investors who are ready to buy and looking for projects. Help me out!!My partner Robert Poe and I am working with several clients whose needs range from "Highly Urgent" down to … (0 comments)
investment: Demystifying NOI, Cap Rate, and NOI Multiplier
- 08/18/09 04:00 AM
My friend Doug Foley, CCIM was kind enough to permit me to co-host a portion of the Northwest Real Estate Investor's Association (NWREIA) August Multifamily Focus Group on August 18th. I thought that a review of the basics might be a good start...so I included a brief overview of NOI, CAP Rate, and NOI, CAP, and NOI Multiplier. While these are offered in the context of a multifamily discussion, they are basics that apply to all investment properties. What is NOI?: Net Operating income What does it measure?: Measures the revenue generating capacity from operations. When is it important?: Two times: … (1 comments)
investment: Getting Ready To Sell Your Apartment Property
- 07/06/09 08:32 AM
While we focus on NOI and Cap Rates when buying apartment investment properties...we still pay close attention to curb appeal...that's part of what attracts potential tenants. With that in mind, when preparing to sell a multifamily property we want the grounds to look the best they can without breaking the maintenance budget. If you can't afford to do everything, do everything you can. PHASE ONE: Before listing a multifamily property take a walk around it with a different focus. Try to looking at it as you would a plane when you board. The psychology of safety is that when things look … (0 comments)
investment: Are You Ready To Sell?
- 04/23/09 08:45 AM
I need your help. I've to talked to property owners, brokers, title companies...but nobody seems to know of any properties for sale that fully meet the needs of one of my clients. He has no 1031 or 1033 Exchange deadlines to worry about...but he does have cash sufficient to purchase 60 to 80 quality units in the Portland area. Wilsonville doesn't hit his sweet spot...nor does Gresham or much East of I-205. Vancouver is possible...West and Southwest PDX would be winners. He's willing to pay a fair price for quality. He takes real pride in ownership: fixer-uppers are not his thing. This is … (0 comments)
investment: Another Reason To Be Bullish On Portland's Multifamily Market
- 04/15/09 03:54 AM
One of the metrics to look at when picking an area for a long term investment is the affordability index. And by that I don't mean looking soley at how much the median income is in an area...I mean: Average Rent/Median Household Income = Affordability Index. (What portion of your pay goes to rent?) It's great that some investment counselors track Median Household Income (MHI), but without the context of average rent for that area we really don't have a way to evaluate areas that have long-term rent expansion capability. An obvious example is New York City. Clearly the MHI is higher … (0 comments)
This isn't even my listing...but I'm making good on my commitment to find great deals for my investors. This NE duplex is a great value: for under $165k you get two residences for less than the normal price for one. My faithful readers know that I eschew residential multifamily in favor of commercial multifamily due to the usual lack of cashflow. On most plexes you have to put huge downs just to keep from having an alligator to feed monthly. As such, many entry level investor's feel their sole option is to live in one side and rent out … (0 comments)
investment: David Moore To Offer CCIM Keynote Address
- 03/26/09 05:25 PM
Mr. David Moore, CCIM will be the featured speaker at the Portland CCIM's monthly luncheon on April 1st at the MAC Club. He and brother/partner Tom founded Equity Advantage Incorporated in 1991. Since then EAI has become the heavyweight of 1031 Exchange Accomodators. They have leveraged their thorough knowledge of contract law, taxation, and investment analysis with a customer centric focus to earn a reputation for getting the tough deals done. MULTI-TALENTED: While I always learn new aspects of exchanges from listening to David, my hope is that his presentation will focus on his new firm's services. For years the public was led to believe that Wall … (0 comments)
investment: Demystifying moving from Residential Multifamily To Commercial Multifamily (Part 2)
- 01/06/09 08:55 AM
There are a growing number of reasons why investors are moving from residential investments to commercial investments when they can. Single Family Residences (SFRs), duplexes, triplexes and quads are maintenance, management and hassle intensive per unit of profit. SFRs and residential multifamily (less than 5 units) rarely pencil out. They sometimes make fine "buy and hold" properties, but rarely cash flow well. Today's sophisticated investors know that if they combine a number of small investment properties they can afford a commercial multifamily asset. (They may even be able to take advantage of Cost Segmentation for accelerated depreciation...impossible for smaller investments.)While by definition … (0 comments)
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Rick M. Bean
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