All Forum Posts by: Matthew Schroeder

This is a great thread!  I lived in Hawaii about 25 years ago & lived both in Hawaii Kai & near Diamond Head (Pualei Circle), and I am, as well, considering some leasehold properties, however I must say that I am going in with "both eyes wide open".  I have seen some pretty good prices, but I assume that either the remaining lease term is short, or perhaps there is significant deferred maintenance which may require a special assessment in the future. 

One building which is in a good location (Waikiki), reasonable prices & has a lot of listings is 1860 Ala Moana Blvd (Wailana Condos Waikiki).  Given there a so many listings, I am suspicious / skeptical.  HOAs are relatively high.  Below is one unit in the building, but there are many others.  

1860 Ala Moana Blvd, Waikiki(#1105)
https://www.zillow.com/homedet...

Anyone have any local insight into this building, or, similar situations?

Mahalo!

@Dean West  You've already gotten some good recommendations, but if I were you, I might also ask the question, "why is it zoned commercial?".  Are the properties on either/both sides also zoned commercial (or are they zoned residential?), and what are the uses of the neighboring properties (are they also residential)?  Sometimes (not always), there is hidden value in zoning (zoning arbitrage).

Glancing at their website, a lot of red flags.

(1)  For a company (ostensibly) operating in Indianapolis, why don't they list an Indianapolis telephone number?  Only a toll-free number and a Columbus, OH number.

(2)  Who is behind this venture?  What is his/her name?  I see pictures of some people, but I didn't see one mention of who they are & what their experience is.

(3)  What is the address of this company?  Is it in Indianapolis, or other?

(4)  Take any of their sold properties, and then plot them on a crime heat map.  You will very quickly see the quality of those locations.

Aurora, the (often-forgotten) next door neighbor to Denver, getting respect on the national stage!  According to new data compiled by the real estate firm Apartment List, rents have risen more in Aurora than in any other large city in the country since 2014! 

Aurora Rental Hikes Top List of National Increases
https://www.sentinelcolorado.com/1gridbiz/nowhere-but-up-aurora-rental-hikes-top-list-of-national-increases/

Denver’s apartment market got off to a strong start this year, as tenants absorbed all the units that hit the market and then some, pushing up rents and driving down vacancies.  Developers delivered a robust 3,959 new units in the first quarter and tenants absorbed an “impressive” 5,552 net units, according to the Denver Metro Apartment Vacancy and Rent from the University of Denver and the Apartment Association of Metro Denver.

https://www.denverpost.com/2019/04/27/metro-denver-apartment-rents-rise/

Hi All,

Anyone in Cannes (or surrounding areas) and would like to catch up for a coffee to discuss real estate?  I will be in Cannes for a conference from April 1-5 and then will remain in the Cote D'Azur for a few more days to review real estate opportunities. @Sofia Liebon

Best,

Matthew

For those who like rankings & numbers, a new ranking on Best Places to Live by U.S. News & World Report.  

Austin #1.  Denver #2.  Colorado Springs #3.

Interestingly, Indianapolis up 17 spots, although still outside of Top 30 (#38).

U.S. News & World Report:  Best Places to Live (Ranking)

https://realestate.usnews.com/places/rankings/best-places-to-live

Indianapolis Climbs 17 Spots (Indy Star)

https://www.indystar.com/story/news/2019/04/09/indianapolis-climbs-17-spots-2019-u-s-news-best-places-live-list/3402055002/

For the Indianapolis marketing do not rely on Zillow estimates - they can be extremely inaccurate (+/- 30%) for a variety of reasons.  If you rely on the Zillow number for your valuation, it is a very easy way to lose a lot of money.  You need to obtain real (actual) sales comparables, and even with that, you need to do in-depth comparison as to how those comparables are similar/different to the property you are considering.  Good luck.

@Denis F.  Thank you very much for the excellent input!  Yes, we are being open minded to the many nuances & complexities of renovations and complexities of doing business in France.  Thankfully, my business partner is doing a pretty major rehab of a villa in Mougins right now, so he is getting excellent, on-the-ground experience.  They also did a pretty major renovation of a small condo in Antibes.  A few years ago, we also briefly reviewed a potential investment of a 3 unit property in Cap D'Ail, but the level of rehab which was required was quite extensive, so we passed.

I appreciate your comments & let's keep up the dialogue.  I will likely be in Cannes in early May, and plan on looking at various properties.

Best,

Matthew

@Account Closed  @Sofia Liebon @Denis F. @Account Closed

All,

This is an excellent thread - thanks for all the insight!  My close friend & business partner currently lives in Monaco and already owns small residential properties in both Antibes and Mougins, as well as operates a co-working space in Monaco, and we are exploring a range of investment opportunities across the Cote D'Azur.   We both have backgrounds in real estate.

Does anyone have thoughts and/or insights into multi-family residential, mixed use (e.g. residential/office) and/or small office market in say Cannes or other regional cities.  We would be looking at buying tired/neglected & under-appreciated assets, do some renovations & reposition them (e.g. value-add strategy).  We are also reviewing the vacation rental market, but that is much more straightforward.

Any insights are greatly appreciated.  I will likely be in Cannes in early May & my business partner is in Cannes/Mougins almost weekly, so would be great to connect with like minded individuals.

Best,

Matthew