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Mon
18
Sep
The Editors's picture

10 Rules To Successful Multifamily Syndication Investing

10 Rules To Successful Multifamily Syndication Investing

This week blogger and veteran investor, Vinney Chopra, talks about multifamily syndication investing and his 10 rules to success.

By Vinney Chopra

If you want to know what you need to start investing in successful multifamily syndications, I can help.

My wealth of knowledge and success in real estate investing for more than 40 years can help with your education in multifamily syndication investing.

10 rules to successful multifamily syndication investing

I have completed more than 25 syndications.  Here is what I practice daily that has helped lead me to success as a multifamily syndicator today:

Fri
15
Sep
The Editors's picture

How Do Multifamily Renters And Single-Family Renters Differ?

how do multifamily renters and single-family renters differ?

Multifamily renters make less money, have fewer kids and are less likely to be married, according to new research from a real estate consulting firm.

The research into the single-family renter shows the key differences between those who rent apartments and those who rent single-family homes, according to Mikaela Sharp, Research Analyst, and Chris Porter, Chief Demographer, for John Burns Real Estate Consulting.

There are 28 million multifamily rental households in the U.S. and 16 million single-family renter households. Here is how they differ:

Tue
12
Sep
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Rent For Houses Is Rising Faster Than Apartment Rent

House rent rising faster than apartment rent

Monthly rent for houses is rising  faster than apartment rent due to the short supply of rental homes and Portland home rental rates lead U.S. metros areas, according to a new study.

Rental houses have been in high demand since the housing market crashed, but a lack of supply has made renting those homes more expensive, according to a new Zillow analysis, as the median monthly rent for single-family homes is rising faster than the median monthly rent for apartments.

While rents for both houses and apartments have slowed significantly over the past year, median rent for houses rose 1.3 percent annually to a monthly rent payment of $1,404, but median rent for apartments rose 0.5 percent, to a monthly rent payment of $1,551.

Tue
12
Sep
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Apartments.com To Acquire Multifamily Websites Of ForRent.com

CoStar Group to acquire multifamily websites of ForRent.com

The CoStar Group plans to acquire ForRent, a division of Dominion Enterprises, pursuant to a definitive agreement for $350 million in cash and $35 million in CoStar Group stock, according to a release.

ForRent's primary service is digital advertising through a network of four multifamily websites — which includes ForRent.com, AFTER55.com, CorporateHousing.com and ForRentUniversity.com. ForRent had approximately 17,000 properties advertised on its websites as of June 2017.

Through the first six months of 2017, these sites generated over 47 million visits and an average of 3.5 million unique monthly visitors. ForRent is headquartered in Norfolk, Virginia, and has 475 employees located in 38 offices around the United States.

Tue
12
Sep
The Editors's picture

3 Low-Cost Incentives To Gain Property Management Training Completion

3 low-cost incentives to increase training completion

This week we start a regular multifamily training tip of the week from the folks at Grace Hill to help landlords and property managers with online property management training information to help increase competency and reduce operational risk.

By Ellen Clark

We all know the value of training. For companies, it can reduce risk and increase the bottom line. For employees, it provides valuable job skills and opportunities for career advancement. For customers, good employee training improves their experience and overall satisfaction.

Mon
11
Sep
The Editors's picture

5 Keys To Investing In Emerging Multifamily Markets

Emerging multifamily markets by Vinney Chopra

This week blogger and veteran investor, Vinney Chopra, talks about how he identifies emerging multifamily markets for his real estate investing. 

By Vinney Chopra

I think it is critical to a multifamily investor to choose the “right” multifamily apartment complex to acquire.

One of the most critical aspects of this is to find the right emerging markets. I am diligent in my exploration of opportunities in markets where jobs and local economies are expanding. I will take six months to a year to do the research to determine an emerging market.

What is one key?

I follow the jobs.

What are emerging multifamily markets?

Emerging multifamily markets are metro population centers in the U.S., and around the world, where there is a strong demand for housing. And, properties are significantly increasing in value.

In these areas, more jobs are being created and where you have more jobs, you have more people.

Fri
08
Sep
The Editors's picture

Out Of State Investors Target Multifamily In Salt Lake City Area

out of state investors target multifamily housing in salt lake city area

A commercial real estate investment firm has announced the sale of Lionsgate, a 15-building, 400-unit multifamily complex in Murray, Utah, according to a release.

 The property sold for $67.25 million, which represents more than $168,000 per unit, according to the release from Marcus & Millichap.

“Out-of-state investors continue to target multifamily assets in Salt Lake City and some have refined their focus to include areas south of the city such as Murray where vacancy is lower and rent growth is above average,” Danny Shin, senior vice president investments in Marcus & Millichap’s Salt Lake City office, said in the release.

 Shin represented the seller, a local owner, and procured the buyer, a Seattle-based investor.

Thu
07
Sep
The Editors's picture

Dear Landlord Hank: I Have A Tenant Couple Who Fight On A Regular Basis – What Do I Do?

Dear Landlord Hank: I have a tenant couple who fight. what do I do?

What do you do with a tenant couple who fight on a regular basis in your rental and calls the police?  Each week veteran landlord and property manager Hank Rossi answers questions from other landlords and property managers around the country about their rentals.

Dear Landlord Hank,

Hello Hank, I have a tenant couple that fight on a regular basis and call the police.

I do not want the police in my park.  I feel it makes for a bad reputation. Can I evict them? And how?

Thanks in advance. Debbie

Hi Landlady Debbie,

I'm not an attorney so I can't give legal advice. I would look at your lease.

 In my lease, in the section "USE OF PREMISES: Tenant shall maintain the premises in a clean and sanitary condition and not disturb surrounding residents or the peaceful and quiet enjoyment of the premises or surrounding premises."

Wed
06
Sep
The Editors's picture

Multifamily Housing Industry Sees Continued Market Growth

Multifamily housing will continue to grow over the next 3 to 5 years according to a new survey

A significant majority of the multifamily housing industry believes the rental housing market will continue to grow, fueled by increasing demand and a growing population, according to a new survey commissioned by Freddie Mac.

 At the same time, however, a plurality of participants is less optimistic about the outlook for affordable housing as compared to just one year ago.

Commissioned by Freddie Mac in partnership with the real estate media and intelligence firm Hanley Wood, the survey gauged the attitudes of industry participants in sectors:

Tue
05
Sep
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Seattle, Portland Tops In Rental Application Approval Rates

Seattle, Portland tops in rental application approval rates

Rental application approval rates for apartment leases are over 90% in the millennial hubs of Seattle and Portland, according to rentcafe.com.

Seattle and Portland, along with San Diego, San Francisco, Los Angeles and Washington, D.C.  are very active and high-priced rental markets with thousands of new apartments to fill every year, being in the top 20 cities in the country with most apartment units completed in the last two years.

 

Seattle is No. 1 in rental application approval rates

Number one on the list, Seattle, is a popular city for millennials, with the highest share of Gen-Y rent applicants of all cities analyzed.

In Seattle, 93.7% of rental applications end up in a lease.

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