I have a Multifamily Buyer, are you ready to sell?

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 a knowledgeable investor who puts little stock into overly optimistic proformas.  The challenge for me is to deliver value to him he can’t find elsewhere by himself.  Off-market deals, pocket listings are more likely to get consideration than something on Loop-Net or (more…)

Things are looking up!

 Associated Estates is a self administered, self managed Real Estate Investment Trust that owns 13,192 multifamily units in 52 communities in 9 states.  Their CEO, Jefferey Friedman, was interviewed by Keat Foong, the Executive Editor of Multi Housing News. 

New Renters Will Outstrip the Supply of Apartments

The number of new renters will exceed the supply of apartments by as much as two times, according to the president and CEO of Associated Estates Realty Corp. Jeffrey Friedman.

In an interview with MHN, Friedman argued that demographic patterns in this and next decade dictate that there will be strong demand for apartments that will outstrip supply. 

Friedman explained that the homeownership rate is about 65 percent currently, and that the total number of households in the US is about 120 million. “If 35 percent of the population rents, we are talking about 40 million households that are renters,” he said.

According to the census bureau, there will be 15 million new households over the next 10 years, translating to about 1.5 million new households per year. If only 30 percent of these households rent, says Friedman, this will mean there will be 450,000 new rental households per year in the next 10 years. 

However, apartment starts have been hovering at around only 200,000 units from the supply standpoint. “We know there is no overbuilding,” says Friedman. If this pattern holds, “In fact, there will be half as many new apartments built as new renters coming into the market,” he says. (more…)

It used to be that the stock market was the only game in town for 401-k’s, IRA’s, and Roth Plans.

Now, with the Direct Checkbook Controlled IRA you can move in and out of investments with ease, including my favorite: real estate.   This is huge.  It permits investors to play a far more direct and active role in their financial destiny.  You need to use specialists to set up the account and to recieve some background on the requirements, rights and risks.   When you’re playing pennies and nickles poker and the jackpot hits $5, it’s OK to play fast and loose.  When its your retirement at stake, lower your risks and always go with the pros. 

Enter IRA Advantage

IRA Advantage, is the new sister company of the highly regarded 1031 Exchange Accomodator, Equity Advantage.  IRA-A  sets up accounts that help investors reach their goals through direct checkbook control investment IRA’s.  Investments are made through an LLC.  I’ll describe the process in greater depth in a post next week.  If you can’t wait…call IRA Advantage now:  503.619.0223, and say the folks at Rose City Commercial Real Estate sent you!

Let Rick Bean and Rose City Commercial Real Estate be your advantage.  Contact us at 503.577.1034 or rick@rosecitycre.com.

Note:  This site is primarily dedicated to commercial real estate, with a focus on the multifamily component.  We believe that good service should be standard, but great services and products need to be acknowledged.  We reserve the right to promote unaffiliated individuals and companies that in our opinion, demonstrate excellence on an ongoing basis.  We neither solicit nor accept compensation for doing this.