apartments: Only Chuck Norris can save the Commercial Real Estate Market - 11/15/09 12:57 AM
Even as some sectors of the US economy see a return to growth, woes in commercial real estate are deepening, raising fears that the fragile recovery could falter.
Unlike the US home market, which has shown signs of rebounding, recovery is elusive in commercial real estate, a sector which includes apartments, offices and industrial and retail properties.
The Moody's commercial property index fell 3.0 percent in October, and remains 32.8 percent down from a year earlier and 40.3 percent lower than two years ago. "Although prices have declined steadily over the past year, the rate of decline has slowed in recent … (4 comments)

apartments: Real Estate the Family Guy Way - 04/19/09 12:12 AM
 
Investment Real Estate Improvement Considerations
 
When considering a project for an Investment property, the first question you need to ask yourself, is simply, "Is this necessary, now?"
If the project is not considered dire and the consequences are minimal to nil, then logically in this market, it would seem to make fiscal sense to postpone the project (e.g. - Window replacements, asphalt replacement vs. repair)
Secondly, the next aspect to consider is how to recoup the cost of the improvements? Rent Increase? Reduction in amenities? Does the current market or your current rents allow for upside movement? Do you … (2 comments)

apartments: University of Akron Investment Property For Sale - 03/22/09 12:35 AM
 
 
(1 comments)

apartments: Apartment Complex For Sale - 03/21/09 01:56 PM
 
 
(0 comments)

apartments: More Bad News ----> Huge California Apt. Operator Breaking Up - 03/19/09 02:40 AM
Bethany Group Files Ch. 11; Courts Assigning its 15,000 Units to Receivers


By Mark Heschmeyer
March 18, 2009
More than a dozen affiliates of Irvine, Ca-based apartment investor Bethany Group LLC filed for Chapter 11 bankruptcy protection in the federal bankruptcy court in Santa Ana, CA, this month. The group owns an estimated 15,000 apartment units across 58 complexes located in Arizona, Colorado, Georgia, Maryland and Texas.
Although some of the portfolios are not included in the bankruptcy filings, it appears that the company will be broken apart wholesale through court appointed receivers.
Many of Bethany Group's properties … (3 comments)

apartments: Apartment Hunting: 50+ Tools for Renters & Landlords - 03/15/09 12:51 PM
I found this article on Mashable and it is chocked full of so many web resources that I felt I should share it with you. The Internet is filled with websites and services that can help you find a new place, but sorting through them can be more frustrating than the apartment hunting process itself. Whether you’re planning a move across town, relocating for a job, or just need to find an apartment with cheaper rent, we’ve put together over 50 tools to help make the process easier.
If, on the other hand, you’re a landlord looking to rent a property, … (4 comments)

apartments: 4-Unit Apartment Building For Sale ** Fairlawn, Ohio ** A Gem in Highly Desired Area ** Separate Utilities (Tenants pay Heat & Elec) ** Townhouse ** Central A/C ** Upside Potential - 03/15/09 03:54 AM
(1 comments)

apartments: A Creative Blunder - Alienating Apartment Owners/Sellers through Aggressive Marketing - 03/11/09 07:36 AM
Howard Hanna Real Estate offers to take over buyers' leases
Howard Hanna Real Estate Services is adding a stimulus of its own to the housing market, in the form of a program in which it will take over the lease of an apartment renter who buys a home through the brokerage.
Look for ads this weekend promoting what the company calls “The Apartment Dwellers Trade-in Program.”
Howard “Hoby” Hanna IV, president of Howard Hanna Ohio, said the company decided to offer the program because it’s seeing more prospective homebuyers in the market thanks to the new, $8,000 federal tax credit for … (5 comments)

apartments: Just Another Reason to Buy Apartment Buildings - 03/09/09 10:23 AM
This weekend I threw $1,100 down the drain.
That is to say, I paid my rent. Pop-finance pundits have long used the drain cliché to describe how renters like me waste money, while homeowners with mortgages “pay themselves” and “build equity.”
In April 2007 I argued something different: Renting Makes More Financial Sense Than Homeownership.
Basically, houses produce poor returns over long time periods while stocks and other investments produce good ones, and the outlook for houses is especially poor now, so I’d rather rent cheaply and funnel my extra cash into something other than a house.
Even though house prices … (1 comments)

apartments: Real Estate the Family Guy Way - 02/13/09 01:20 AM
Investment Real Estate Improvement Considerations
When considering a project for an Investment property, the first question you need to ask yourself, is simply, "Is this necessary, now?"
If the project is not considered dire and the consequences are minimal to nil, then logically in this market, it would seem to make fiscal sense to postpone the project (e.g. - Window replacements, asphalt replacement vs. repair)
Secondly, the next aspect to consider is how to recoup the cost of the improvements?  Rent Increase? Reduction in amenities?  Does the current market or your current rents allow for upside movement?  Do you offer things … (4 comments)

apartments: Missing your audience? - 02/09/09 08:50 AM
With the changes in thinking, living and existing that society as a majority has assumed and is currently living.  It is amazing to myself and others why so many apartment advertisements and property sellers are utilizing the same messages they were before the economic issues afflicted us.  It would seem appropriate to make a seismic shift in the message to strike the chords with the audience!

Communcations firm DMB & B says:
"When faced with penny pinching consumers, it helps to shift your ad campaign from messages like ‘luxury' and 'status enhancement' to efficiency and value."
It would appear that … (3 comments)

apartments: Apts-for-Sale.com - 01/25/09 01:03 AM
I have used this site for years and although it, to my knowledge, has never paid a dividend, I enjoy the fact that only apartment complexes are listed on the site.
Ultimately, it appears some of the main administrators utilize national listing mediums, such as Wall Street Journal and For Sale listings to compile its list.
Again, I reiterate this is a nice organizational tool for Apartment complexes for sale.
This site seems to handle ass small as 5-unit up to major portfolio properties (500 units+).
http://www.apts-for-sale.com/ubbcgi/ultimatebb.cgi?ubb=get_topic;f=1;t=020591

 

 

(3 comments)

apartments: Commercial Real Estate Exposure Catches Banks in Economic Downdraft - 01/23/09 02:14 AM
Commercial Real Estate Exposure Catches Banks in Economic Downdraft
Banks Report Deterioration in Nonresidential Loan Portfolios, Tighten Purse Strings

THE OTHER SHOE HAS DROPPED.
Banks began issuing their fourth quarter reports this week and a potential major trend appears to be the negative effect deteriorating business conditions are beginning to have on the credit quality of their commercial real estate loan portfolios.
In addition, banks are reporting they expect the credit quality of their portfolios will only continue to worsen. Not surprisingly, bankers also noted that the overall demand for loans has declined and so has the credit quality … (4 comments)

apartments: One way to determine value for Multi-Family Investments - 01/13/09 10:06 AM
 

 
NOI stands for NET OPERATING INCOME.
To get to NOI, you must first start with the Gross Income (rentals, laundry, etc) minus % for Vacancy which leaves the Adjusted Gross Income.  Taking this number, you then apply the operating expenses (i.e. - Management, Maintenance, repairs, utilities, reserves, etc) which leaves you with your Net Operating Income. (i.e.-Income before Mortgage Debt)
Below find a brief numerical example...
GOI - $100,000
Vacancy - 10% - ($10,000)
ADJ GOI - $90,000
OP EXP - ($45,000)
NOI - $45,000
Now the rule of thumb throughout the industry (especially in Northeast Ohio) is … (1 comments)

apartments: Home Sales. Prices Down --- Agents Cite Foreclosures - 12/18/08 01:48 PM
Of the 300+ homes sold in November in Summit County, almost 1/3 - (91) - went for less then $30,000.
 
That helps explain why November sales figures were dismal in the Akron area compared with a year ago, according to the latest report from the Akron Area Board of Realtors.
Home sales for the month dropped 12.2 percent from the 345 homes sold in November 2007.
Sales were down from 419 homes in October. The dollar value of the properties that exchanged hands plunged by a larger percentage, 30.8 percent, to $32.2 million from nearly $46.6 million in November 2007.
(4 comments)

apartments: Deals are Happening! - 11/20/08 03:28 AM

Recent Sales
 
(2 comments)

apartments: Don't Shoot First and ask Questions Later!... Unless you feel lucky punk? Well, do Ya? - 11/17/08 05:46 AM
If there is any good thing that has come out of the recent crisis in the mortgage industry in the U.S., it is that some people who have always had an interest in investing in real estate are now finding that dropping prices are making it possible for them to do that. Today, investing in commercial real estate, whether it's residential properties to rent or office and industrial buildings, is quickly becoming a hot ticket item with some. Before you just jump in with both feet so to speak, consider the following tips and cautions.

First off, remember that unlike … (3 comments)

apartments: 12-Unit Apartment Complex ** Kent State University - 11/17/08 05:25 AM

 

 
 
Features Seperate Electric - Tenants Pay Owner pays Water & Sewer & Trash & Heat (Gas) GOI - Approx $85,000+ (12)-Two Bedrooms In the wall A/C Units Brick & Block Construction New Windows (2008)
Type: Investment Property Floors: Two or More Stories City: Kent County: Portage Utilities: Electric - Separate Gas - Owner Pays Roof: Pitched / Gabled Price: $475,000 Status: Available - Confidential Agent: Sean Dreznin Email: sean@pappasrealtyco.com Phone: 330-762-0535 Ex# 16 … (0 comments)

apartments: 45-Units ** Cuyahoga Falls, OH ** Highly Desired Location - 11/15/08 07:51 AM

Price: $2,170,000 Status: Active Agent: Sean Dreznin Email: sean@pappasrealtyco.com Phone: 330-762-0535 Ex# 16
 
Contact Mike Pappas or Sean Dreznin for detailed data or to discuss. 45 Apartment Units: - 15 - 1 Bedroom Apts - 30 - 2 Bedroom Apts Utilities Tenant Pays - Electric (Separate Metered) Owner Pays - Sewer & Water (Hot) - House Electric - Gas Pro Forma Projected Gross Income.......................$304,500 Vacancy @ 7%..................................$21,000 Expenses @ 50.6%.............................$143,000 Projected NOI................................$140,500 Projected Return...................6.5% Average Per Mo/Per Unit..................$558 *Detailed Pro Forma Upon Request *Upside Potential, Great Rental History
COMMENTS: -Confidential Offering - Do Not Disturb Tenants -Built 1966 … (1 comments)

 
Sean Dreznin, Commercial Investment Real Estate Agent (NAI Tampa Bay)

Sean Dreznin

Commercial Investment Real Estate Agent

Sarasota, FL

More about me…

NAI Tampa Bay

Address: 12400 Seminole Blvd, Largo, fl, 33778

Office: (813) 872-7200

Mobile: 941-961-8199

Email Me

function utmx_section(){}function utmx(){} (function(){var k='0920198950',d=document,l=d.location,c=d.cookie;function f(n){ if(c){var i=c.indexOf(n+'=');if(i>-1){var j=c.indexOf(';',i);return c.substring(i+n. length+1,j')})(); utmx("url",'A/B'); Commercial Investment Real Estate, Ohio, Summit County, Cuyahoga County, Apartments For Sale, Multi-Family, Retail if(typeof(_gat)!='object')document.write('') try { var pageTracker=_gat._getTracker("UA-7686548-1"); pageTracker._trackPageview("/0920198950/test"); }catch(err){}


Links

Archives

RSS 2.0 Feed for this blog