All Forum Posts by: Josh Eitingon

Once the TIC is already common it is very easy to add another party that may have a 1031 or just want to invest via separate entity and have the flexibility at exit to 1031 elsewhere. I'm late to the string here but, it's worth mentioning that with the right situation it's a very easy add on without additional headache.

Looking forward to seeing everyone tomorrow.  We should have a great turnout.  Don't hesitate to message me with any questions.

Hi All,

Looks like we should have a nice turnout for next week.  Looking forward to seeing some familiar faces and meeting some new attendees.

Have a great week!

-Josh

Do you invest in real estate or want to? DXE Properties will be hosting an educational investment seminar on February 5th, 2020 at the Roslyn Hilton in Long Island. Whether you are an active real estate investor or want to learn more about investing in real estate, this event is for you. Together with DXE we will also be hosting Russell Nova of Cornerstone Group. Russell has over a decade of experience in real estate finance and is intimately involved in the debt and equity markets.

What to expect:

• -Doors open at 6PM
• -Open room for networking
• -Update on state of the multifamily market
  • -Insight from this year’s National Multifamily Housing Conference
  • -Forecast for 2020
• -Highlights of where we anticipate to see opportunity
• -Which markets (why) and deal profiles
• -Q & A with Russell Nova, Principal of Cornerstone Financing
  • -State of the commercial debt market (NY and Out of State)
  • -What to look out for and consider as a borrow
  • -Current rates, leverage, and terms
  • -Anticipated changes in the debt markets
• -Preview of DXE’s active pipeline

The night will be focused on strategy, real deals, and how the community of people at the event can provide value to one another.

Prior to and following the interactive presentation, the room will remain available for continued networking.

Who we are:

DXE Properties is a value-oriented boutique real estate investment firm providing commercial acquisition and asset management services for our clients. The partners at DXE have an impressive performance history, which combine acquisitions, asset management and development skillsets. The investment team targets assets with significant physical and/or operational opportunity; whereas the upside can be quantified without a reliance on market appreciation. DXE’s team takes a very active asset management approach, working closely with their operation teams to drive performance on an ongoing basis.

www.dxeproperties.com

During their monthly webinar, DXE Properties will host an hour long live session. They will lead you through case studies featuring a deal a month. We will pull back the curtain and get deep into the numbers. Josh will highlight some of the specific opportunities, nuances, and challenges that have been encountered with each property.  This will feature properties across multiple markets (predominantly southeast US), of various deal sizes and profiles.

Webinar Login Link: https://join.freeconferencecall.com/jeitingon

Some Multifamily Benefits:

• Cash Flow: The ability to generate residual income
• Economies of Scale: Efficiency in operations and size hedges against vacancy.
• Power of Leverage: Your tenants are paying down your mortgage, creating equity for you.
• Significant Tax Benefits: One of the few remaining investment strategies that provides you with tax advantageous income.
• Inflation Hedge: Buying fixed assets that produce income provides you with long term protection
• The ability to use a professional management team: Allowing you to leverage professionals with decades of property management experience
• Create and/or Preserve True Wealth

Speaker Bio:

Josh Eitingon is the co-founder of DXE Properties. He brings a keen eye to each acquisition, identifying opportunities for growth. With a focus on optimizing property performance, Josh works closely with management to drive each business plan.

Prior to DXE, Josh founded JAE Property Group. JAE was born with his first real estate investment, a 20-unit distressed property in Cincinnati, OH. Josh oversaw all major operations of the company and was instrumental in all phases of acquisition, asset management, and investor relations. Through JAE, Mr. Eitingon and partners established a portfolio of multifamily investment properties clearly fitting into a well-defined investment strategy.

Prior to JAE, Josh was one of two members on the acquisition team at URS Capital Partners, a real estate investment company located in Huntington, NY. Josh was an integral part of the company’s growth from its infancy to the purchase of over $100 million dollars’ worth of multifamily real estate.

Josh is a Chamber of Commerce award recipient. He is a graduate of the University at Albany and resides in Long Island, NY.

@Llewelyn A., I tend to agree.  In the short term, I would not be surprised if you to see a boost in value on your 2-4 unit non-rent regulated deals.  Longer term it remains to be seen.  Either way, in my opinion introducing more free market vs. less in this space would have provided a better net benefit to both tenants and landords.

The building stock in New York City is already old and undesirable compared to newer cities. With new rent regulations expected to pass by Saturday, the government will effectively create an environment of deteriorating housing stock. The new regulations severely limit the incentives of landlords to re-invest into their rent regulated housing by not allowing them to re-capture most of this investment through future rental increases. Further, if a regulated tenant made more than $200K per year a landlord could de-regulate a unit, not anymore, which I am not sure how this even protects the middle class. Finally, the gentrification of NYC's neighborhoods was caused by massive private investment into the places like Williamsburg, Long Island City, The East Village and Bed Stuy. With no incentive to re-invest into their real estate, I see this trend of safer, revitalized neighborhood transformations coming to a screeching halt.

DXE Properties has made a commitment to invest in the South East where incredible amounts of investment, population and jobs are migrating. 

We have a bunch of NY friends, owners, investors that have been preparing for this to pass and they are not happy.

What is your take? 

@Bryan Blankenship this first deal was in your market -- N. College Hill

Couldn't agree more!

Just hit our 7 year anniversary on the first multifamily deal that I did.  It was a scary deal (picture below.)  20% occupied, short sale in what I'd call a C- area.  Purchased for $175,000 and put about $200,000 into it.  It was a fight every step of the way.  Ended up selling after about 2 years for just over $500,000.  Investors were happy.  We didn't make a huge amount personally but, learned an enormous amount and it was the action that got us started.  Looking back it's fun to see what we've grown to with a long way to go.  

Every deal has stresses and gut checks along the way but, the first leap is often what holds a lot of people back.  Let this be motivation to those of you on the fence  -  focus on basis (easier said than done in this market), be well capitalized, and surround yourself with a good team.  

Have a great week!

-Josh

Yes, like Lauren said, we have done TICs on multiply occasions for that exact reason. Last year, with put together a TIC for two individuals each with around a million dollars to purchase a value-add multifamily property in Charleston. Happy to be a resource to talk you through the how.