Investment Info:
Large multi-family (5+ units) commercial investment investment.
Purchase price: $4,900,000
Cash invested: $2,100,000
We purchase a 104 unit apartment complex with other investors by syndication (pooling investors). The majority of investors were repeat participants and involved people in multiple states.
We hired experienced local management company with a great team that's been successful at improving the tenant profile and increasing the income.
With this purchase we've maintained a solid relationship with the broker that's shared pocket listings and given us info on properties before coming to market.
What made you interested in investing in this type of deal?
We like multifamily and large apartment complexes because of the cashflow and economies of scale by having more units under less roofs. In one transaction we increased our portfolio by over 100 units; this would take years buying single family homes.
How did you find this deal and how did you negotiate it?
Created a relationship with the broker that gave him the confidence that we were the right buyers. We negotiated a good price after previous buyer failed to perform.
How did you finance this deal?
Agency debt (Freddie Mac) SBL with 4.2% rate; 75% LTV
How did you add value to the deal?
Our value-add plan is to upgrade the interiors at $4k-$7k per unit. This helped increase rents beyond our original projects to and additional $213/unit ($682 to $895/mo). At the same time we did exterior improvements to the driveways, siding and pool that's improved curb appeal.
What was the outcome?
Increased rents have improved cashflow to $13k/month. Improved net-operating-income has Increased value of the property. Better tenant profile and improved rent receivables.
Lessons learned? Challenges?
We had to train the onsite manager on our methods for tenant qualifications in beginning. After auditing tenant files for people that were evicted, we discovered she needed to improve her tenant qualification skills.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Doug Solether at CREFCOA was a great loan broker to work with.
Investment Info:
Large multi-family (5+ units) commercial investment investment.
Purchase price: $4,900,000
Cash invested: $2,100,000
We purchase a 104 unit apartment complex with other investors by syndication (pooling investors). The majority of investors were repeat participants and involved people in multiple states. Some investors came from a 1031 exchange on a 77 unit apartment complex we sold in the Mid-West.
Our value-add plan is to upgrade the interiors as vacant units become available at $4k-$7k per door (depending on unit size and budget considerations). This has helped increase rents beyond our original projects to $213/unit. At the same time we also did exterior improvements to the driveways, siding and pool that's improved curb appeal.
We hired an experienced local management company with a great team that's been successful at improving the tenant profile and increasing the income.
With this purchase we've maintained a solid relationship with the broker that's shared pocket listings and given us info on properties before coming to market.
What made you interested in investing in this type of deal?
The cashflow and economies of scale by having more units under less roofs.
How did you find this deal and how did you negotiate it?
Created relationship with broker and negotiated a good price after previous buyer failed to perform.
How did you finance this deal?
Agency debt (Freddie Mac) SBL with 4.2% rate; 75% LTV
How did you add value to the deal?
Upgraded interior and exterior and raised rents to market rate. Reduced expenses for trash and landscape by getting competitive bids.
What was the outcome?
Increased rents have improved cashflow to $13k/month. Improved net-operating-income has Increased value of the property. Better tenant profile and improved rent receivables.
Lessons learned? Challenges?
We had to train onsite manager on our methods for tenant qualifications.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Doug Solether at CREFCOA was a great loan broker to work with.
Notes are Like Play Doh!
presented by Andy Teasley
Learn many of the ways to structure and modify real estate notes to accomplish your financials goals!
OCLearn how to use real estate notes whether for cash now or future wealth.
Andy Teasley is a “Serial Entrepreneur” having built many small to medium sized businesses in the last 40 years. Along the way he always had interest in real estate investing as the best way to build long lasting wealth. He’s invested in many areas of real estate and at the peak of the past buying frenzy had an interest in over 50 doors. He has flipped dozens of mobile homes to create discounted notes and is currently focused on his “Single space mobile home parks” and on flipping mobile homes.
The following topics will be covered:
------------------------------------------------------
About the Meeting...
August 2nd, 2022 - Tuesday
6:30 - 7:00 pm: Login early for NETWORKING
7:00 - 9:00 pm: Presentation
Join Zoom Meeting:
https://us02web.zoom.us/j/81445428138?pwd=SWxrd2w3SG85aWY1b2dWQlVuZFNLQT09
Meeting ID: 814 4542 8138
Passcode: occlub
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+16699009128,,81445428138#,,,,*866742# US (San Jose)
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Meeting ID: 814 4542 8138
Passcode: 866742
Find your local number: https://us02web.zoom.us/u/k5kEdqJ3z
As usual there will be no sales pitch of any kind. We pride on the FIBI philosophy: "Bare Bones Real Estate without the hype and without the BS"
https://www.facebook.com/OrangeCountyInvestmentClub/
https://www.youtube.com/channel/UCyvlzcw3xBT5BMRitPXDgE
Here are our Sponsors:
Affiliate Link:
https://trial.propstreampro.com/ocic/
Tell Your Friends About O.C. Investment Club!
When you Follow us on Facebook and subscribe to our YouTube Channel and give us 5-Star Reviews, you help us bring you great guests to share their experience and knowledge with you.
Real Estate Development & Hiring Contractors
Presented by Leo Clark
Leo Clark is the CEO and Founder of CREST Investment Group Inc. a Real Estate Development Company focused on buying "Infill Lots" & building new homes.
Leo will talk about Real Estate Development and Establishing Good Work Practices when Hiring Contractors. Leo’s vast experience with real estate development has taught him the importance of hiring the right contractor and how to manage the contractor and development projects effectively. Leo will talk about his development projects, experience and cover the following:
· Best Practices for Hiring Contractors
· Essential Contracts to Use when Hiring Contractors
· Development Case Studies
Most communities have significant vacant land within city limits, which, for various reasons, has been passed over in the normal course of urbanization. Leo Specializes in these type of “Infill” Development projects. Check out their social media link below:
https://www.facebook.com/CRESTINVESTMENTGROUP/
-----------------------------------------------------------------------------------------
June 7th, 2022 - Tuesday
6:30 - 7:00 pm: Login early for NETWORKING
7:00 - 9:00 pm: Presentation
Join Zoom Meeting:
Link: https://us02web.zoom.us/j/81862823241?pwd=XUOZ5XzPl8SH4rTJLNtgADLKM7LSRH.1
Meeting ID: 818 6282 3241
Passcode: occlub
One tap mobile
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Dial by your location
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+1 646 558 8656 US (New York)
Meeting ID: 818 6282 3241
Passcode: 931721
Find your local number: https://us02web.zoom.us/u/kdg4YhlNSx
As usual there will be no sales pitch of any kind. We pride on the FIBI philosophy: "Bare Bones Real Estate without the hype and without the BS"
OCFIBI Social Media accounts:
OCFIBI Social Media accounts:
https://www.facebook.com/OrangeCountyInvestmentClub/
https://www.youtube.com/channel/UCyvlzcw3xBT5BMRitPXDgE
Here are our Sponsors:
Affiliate Link:
https://trial.propstreampro.com/ocic/
Tell Your Friends About O.C. Investment Club!
When you Follow us on Facebook and subscribe to our YouTube Channel and give us 5-Star Reviews, you help us bring you great guests to share their experience and knowledge with you.
Real Estate Development & Hiring Contractors
Presented by Leo Clark
Leo Clark is the CEO and Founder of CREST Investment Group Inc. a Real Estate Development Company focused on buying "Infill Lots" & building new homes.
Leo will talk about Real Estate Development and Establishing Good Work Practices when Hiring Contractors. Leo’s vast experience with real estate development has taught him the importance of hiring the right contractor and how to manage the contractor and development projects effectively. Leo will talk about his development projects, experience and cover the following:
· Best Practices for Hiring Contractors
· Essential Contracts to Use when Hiring Contractors
· Development Case Studies
Most communities have significant vacant land within city limits, which, for various reasons, has been passed over in the normal course of urbanization. Leo Specializes in these type of “Infill” Development projects. Check out their social media link below:
https://www.facebook.com/CRESTINVESTMENTGROUP/
-----------------------------------------------------------------------------------------
June 7th, 2022 - Tuesday
6:30 - 7:00 pm: Login early for NETWORKING
7:00 - 9:00 pm: Presentation
Join Zoom Meeting:
Link: https://us02web.zoom.us/j/81862823241?pwd=XUOZ5XzPl8SH4rTJLNtgADLKM7LSRH.1
Meeting ID: 818 6282 3241
Passcode: occlub
One tap mobile
+16699009128,,81862823241#,,,,*931721# US (San Jose)
+13462487799,,81862823241#,,,,*931721# US (Houston)
Dial by your location
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+1 346 248 7799 US (Houston)
+1 253 215 8782 US (Tacoma)
+1 301 715 8592 US (Washington DC)
+1 312 626 6799 US (Chicago)
+1 646 558 8656 US (New York)
Meeting ID: 818 6282 3241
Passcode: 931721
Find your local number: https://us02web.zoom.us/u/kdg4YhlNSx
As usual, there will be no sales pitch of any kind. We pride on the FIBI philosophy: "Bare Bones Real Estate without the hype and without the BS"
OCFIBI Social Media accounts:
https://www.facebook.com/OrangeCountyInvestmentClub/
https://www.youtube.com/channel/UCyvlzcw3xBT5BMRitPXDgE
Here are our Event Sponsors:
https://trial.propstreampro.com/ocic/
How ADU’s Are Changing California Real Estate
Jerry Goble is a real estate executive specializing in the construction of ADU's (Accessory Dwelling Units). Some people call them a "granny flat", but they are essentially a self-contained housing unit. ADU's have become a popular way to increase the value of your real estate and generate extra income for your real estate. New laws in California have made it easier for property owners to build these housing units to help with the affordable housing crisis.
Jerry's company – Modal, is a turnkey modular company that designs, manufactures, permits, and installs ADU's in conjunction with income properties, single-family homes, and multi-family properties.
Jerry will be discussing the following:
· What is an ADU?
· Current ADU Laws
· Passive Income Strategies
· Modular vs Stick-Build ADU's
Modal was created to make a difference. These homes are sustainable, adaptable, affordable, and modern. The spaces are designed uniquely, that are better for you and better for our planet. Built without compromising quality or functionality. This product perfectly embodies Modal’s goal as an organization: to do more with less.
Their modular construction and installation process was created to save you money and save our planet.
Check out their website: https://livemodal.com
------------------------------------------------------
About the Meeting...
February 1st, 2022 - Tuesday
6:30 - 7:00 pm: Login early for NETWORKING & Videos
7:00 - 9:00 pm: Presentation
Topic: OC Investment Club
Time: Feb 1, 2022 06:30 PM Pacific Time (US and Canada)
Join Zoom Meeting
https://us02web.zoom.us/j/81062671373?pwd=RExuK3Q3aHZJelFIUGo0SThReHEvZz09
Meeting ID: 810 6267 1373
Passcode: occlub
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Dial by your location
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+1 312 626 6799 US (Chicago)
+1 646 558 8656 US (New York)
+1 301 715 8592 US (Washington DC)
Meeting ID: 810 6267 1373
Passcode: 946033
Find your local number: https://us02web.zoom.us/u/kcnc6TJQMD
As usual there will be no sales pitch of any kind. We pride on the FIBI philosophy: "Bare Bones Real Estate without the hype and without the BS"
https://www.facebook.com/OrangeCountyInvestmentClub/
https://www.youtube.com/channel/UCyvlzcw3xBT5BMRitPXDgE
Here are our Sponsors:
Affiliate Link:
https://trial.propstreampro.com/ocic/
Tell Your Friends About O.C. Investment Club!
When you Follow us on Facebook and subscribe to our YouTube Channel and give us 5-Star Reviews, you help us bring you great guests to share their experience and knowledge with you.
Winning your Personal Battles & Learning the ABCs of Investing in Mobile Home Parks
Presented by El Zoro aka A Regular Joe
This is a must-attend meeting to kick off your year in high gear!
We are a direct result of our thoughts, beliefs, and actions.
The biggest battles we face are not related to the economy, nor market cycles or by not finding the right deal to invest in… the biggest battles are the ones you fight with yourself.
Do you ever think what is holding you back from doing what you want to do?
The most common trait is FEAR. Fear of failure, fear of success, fear of getting outside your comfort zone, fear of rejection, and fear of change.
Our speaker is a local OC Investor, an “Average Joe” who decided one day he did not like who he saw in the mirror and decided to make a change. He had to meet his biggest enemy to have an extremely difficult conversation about all the areas of his life, health, business, family and to establish a baseline before any progress can begin. Once he accepted where he was at that moment and with the help of his coach, they put together a 90-day winning game plan action-packed which led to amazingly gratifying results.
"Average Joe" began investing in 2002 flipping houses. During the meltdown, he decided to stop flipping houses and begin building monthly cash flow by owning and operating mobile home parks. Things were not easy at first, his first mobile home park was a major REO turnaround property purchased in 2008.
Join us and you will learn:
- Why Mobile Home Parks?
- Understanding your market
- Finding opportunities
- Due diligence
- Valuation
- Case studies
- Management & operational systems
- Creating steady cashflow month after month
The depth & breadth of his knowledge is ASTOUNDING!
Trust me, this will be a very educational evening!
------------------------------------------------------
He learned the business by working in the business firsthand. After multiple lessons learned he will share his journey in the asset class, the good, bad and the ugly.
-----------------------------------------------------------------------------------------------
About the Meeting...
January 4th, 2022 - Tuesday
6:30 - 7:00 pm: Login early for NETWORKING & Videos
7:00 - 9:00 pm: Presentation
Topic: OC Investment Club - by "Regular Joe" on Mobile Home Investing
Time: Jan 4, 2022 06:00 PM Pacific Time (US and Canada)
Join Zoom Meeting
https://us02web.zoom.us/j/86876486464?pwd=OUV5UVNHa0ZFTmpMTDlNRmRYM000QT09
Meeting ID: 868 7648 6464
Passcode: occlub
One tap mobile
+16699009128,,86876486464#,,,,*680412# US (San Jose)
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Dial by your location
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+1 312 626 6799 US (Chicago)
Meeting ID: 868 7648 6464
Passcode: 680412
Find your local num
ber: https://us02web.zoom.us/u/kcGXsHvS3j
As usual there will be no sales pitch of any kind. We pride on the FIBI philosophy: "Bare Bones Real Estate w
ithout the hype and without the BS"
https://www.facebook.com/OrangeCountyInvestmentClub/
https://www.youtube.com/channel/UCyvlzcw3xBT5BMRitPXDgEw
Here are our Sponsors:
Affiliate Link:
https://trial.propstreampro.com/ocic/
Tell Your Friends About O.C. Investment Club!
When you Follow us on Facebook and subscribe to our YouTube Channel and give us 5-Star Reviews, you help us bring you great guests to share their experience and knowledge with you.
5 Exit Strategies for Non-Performing Notes
Get a behind the scenes look at 5 Exit Strategies for Non Performing Notes from a Note Fund Manager, Andy Mirza.
Andy Mirza is Chief Operating Officer for Coastline Capital Fund Management, LLC, which creates and manages Funds that invest in residential Non-Performing Notes. Current Assets Under Management: $4 Million.
Andy has been buying notes from hedge funds since 2014 and went full time into the note business in 2017.
Before that, Andy purchased 25 condos at trustee sales from 2011 to 2013 and currently holds 19 of them as rentals.
Andy will be discussing:
See the roadmap to finding notes on your own.
Check out his website and social media links below:
www.coastlinecapitalfm.com
https://www.facebook.com/coastlinecapitalfm/
https://www.linkedin.com/in/andy-mirza-9312a198/
------------------------------------------------------
About the Meeting...
December 7, 2021 - Tuesday
6:30 - 7:00 pm: Login early for NETWORKING & Videos
7:00 - 9:00 pm: Presentation
Meeting ID: 868 2654 0286
Passcode: occlub
Join Zoom Meeting:
https://us02web.zoom.us/j/86826540286?pwd=MHgyYzc1dS84bVhaazBNVlNXNStNUT09
One tap mobile
+16699009128,,86826540286#,,,,*479254# US (San Jose)
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Dial by your location
+1 669 900 9128 US (San Jose)
+1 253 215 8782 US (Tacoma)
+1 346 248 7799 US (Houston)
+1 646 558 8656 US (New York)
+1 301 715 8592 US (Washington DC)
+1 312 626 6799 US (Chicago)
Meeting ID: 868 2654 0286
Passcode: 479254
Find your local number: https://us02web.zoom.us/u/kbtu... usual there will be no sales pitch of any kind. We pride on the FIBI philosophy: "Bare Bones Real Estate without the hype and without the BS"
OCFIBI Social Media accounts:
Here are our Sponsors:
Affiliate Link:
https://trial.propstreampro.com/ocic/
Tell Your Friends About O.C. Investment Club!
When you follow us on Facebook and subscribe to our YouTube Channel and give us 5-Star Reviews, you help us bring you great guests to share their experience and knowledge with you.Tell Your Friends About O.C. Investment Club!
When you Follow us on Facebook and subscribe to our YouTube Channel and give us 5-Star Reviews, you help us bring you great guests
Tell Your Friends About O.C. Investment Club!
When you Follow us on Facebook and subscribe to our YouTube Channel and give us 5-Star Reviews, you help us bring you great guests to share their experience and knowledge with you.
t
Tell Your Friends About O.C. Investment Club!
When you Follow us on Facebook and subscribe to our YouTube Channel and give us 5-Star Reviews, you help us bring you great guests to share their experience and knowledge with you.
o share their experience and knowledge with you.
How to adapt your Real Estate Business to COVID-19
Sepehr Bekam is the founder and CEO of Bekam Investment Group. He grew up in Orange County, California and started investing in real estate over a decade ago while working as an electrical engineer. “Sep” left his corporate job 6 years ago to focus on building his real estate company. He and his partners own a multi-million dollar portfolio of rental houses nationwide.
Sep has become a recognized expert on successful low income housing investing and has been featured on the Real Estate Guys Radio Show, The Real Estate Espresso Podcast, and the IMN Single Family Rental Forum.
The secret recipe to low income housing is consistencies and running tightly-run systems. Through years of experience Sep brought systems into an industry that needed it and provides for abundant opportunity.
The end-result is using capitalism to impact neighborhoods by consistently making them cleaner, safer, and more desirable…while still keeping them affordable. Not only have they successfully improved hundreds of challenging,
slumlord rental units, but they have also transformed entire neighborhoods.
Sep will be discussing:
• How are wealthy investors & family offices preparing for the next market crash?
• Essential vs non-essential investing (COVID-19 Hierarchy of Needs)
• Should I sell or refinance my properties before the next crash?
• Why private property rights are more important than market appreciation.
• Value-add vs "Pharma-bro'" investing.
• How to adapt your real estate investing business to COVID-19.
Check out his website and social media links below:
bekaminvestmentgroup.com
facebook.com/sepehr.bekam
linkedin.com/in/sepehr-bekam-56327633
________________________________________
November 2, 2021 - Tuesday
6:30 - 7:00 pm: Login early for NETWORKING & Videos
7:00 - 9:00 pm: Presentation
Meeting ID: 856 3700 8972
Passcode: occlub
Rachy, see zoom info below:
Join Zoom Meeting:
https://us02web.zoom.us/j/85637008972?pwd=Qnc4RVNuUTd4a2FZMmwzWHRnVE9OQT09
One tap mobile
+16699009128,,85637008972#,,,,*693582# US (San Jose)
+12532158782,,85637008972#,,,,*693582# US (Tacoma)
Dial by your location
+1 669 900 9128 US (San Jose)
+1 253 215 8782 US (Tacoma)
+1 346 248 7799 US (Houston)
+1 646 558 8656 US (New York)
+1 301 715 8592 US (Washington DC)
+1 312 626 6799 US (Chicago)
Find your local number: https://us02web.zoom.us/u/kdosuAp59V
As usual there will be no sales pitch of any kind. We pride on the FIBI philosophy: "Bare Bones Real Estate without the hype and without the BS"
How to adapt your Real Estate Business to COVID-19
Sepehr Bekam is the founder and CEO of Bekam Investment Group. He grew up in Orange County, California and started investing in real estate over a decade ago while working as an electrical engineer. “Sep” left his corporate job 6 years ago to focus on building his real estate company. He and his partners own a multi-million dollar portfolio of rental houses nationwide.
Sep has become a recognized expert on successful low-income housing investing and has been featured on the Real Estate Guys Radio Show, The Real Estate Espresso Podcast, and the IMN Single Family Rental Forum.
The secret recipe to low-income housing is consistencies and running tightly-run systems. Through years of experience, Sep brought systems into an industry that needed it and provides for abundant opportunity.
The end result is using capitalism to impact neighborhoods by consistently making them cleaner, safer, and more desirable…while still keeping them affordable. Not only have they successfully improved hundreds of challenging, slumlord rental units, but they have also transformed entire neighborhoods.
Sep will be discussing:
Check out his website and social media links below:
bekaminvestmentgroup.com
facebook.com/sepehr.bekam
linkedin.com/in/sepehr-bekam-56327633
About the Meeting...
November 2, 2021 - Tuesday
6:30 - 7:00 pm: Login early for NETWORKING & Videos
7:00 - 9:00 pm: Presentation
Meeting ID: 856 3700 8972
Passcode: occlub
Rachy, see zoom info below:
Join Zoom Meeting
https://us02web.zoom.us/j/85637008972?pwd=Qnc4RVNuUTd4a2FZMmwzWHRnVE9OQT09
One tap mobile
+16699009128,,85637008972#,,,,*693582# US (San Jose)
+12532158782,,85637008972#,,,,*693582# US (Tacoma)
Dial by your location
+1 669 900 9128 US (San Jose)
+1 253 215 8782 US (Tacoma)
+1 346 248 7799 US (Houston)
+1 646 558 8656 US (New York)
+1 301 715 8592 US (Washington DC)
+1 312 626 6799 US (Chicago)
Find your local number: https://us02web.zoom.us/u/kdosuAp59V
As usual there will be no sales pitch of any kind. We pride on the FIBI philosophy: "Bare Bones Real Estate without the hype and without the BS"