If you ever asked yourself what is the direct relationship between Cape Coral and Berkeley, Berkeley to Houston, Houston to Cleveland, Cleveland to Jacksonville and back to Miami? Of course, our itinerary.
As time has gone on and our activity in Israel has expanded (this will be heard in the next and final post) - we have realized that we are becoming an entrepreneurial company for real estate / alternative investments.
To do this, we need to respond to different types of investors, for different periods and with different goals and objectives, and of course different sources of investment funding. Cape Coral is no longer enough for us…
Houston Texas
In running relationships, we found a serious entrepreneurial company working in Houston, Texas with a great and solid local contractor. They have already undertaken several projects and could attest to the nature of the works and results in the field. We decided to make a first deal together in which we only invested ourselves. Within 14 months the old house we bought turned into 4 amazing Town House houses (!) We made a nice profit and the conduct was very professional. We set off.
Houston is the largest city in the state of Texas and the fourth largest in the entire US. Greater "Houston" is estimated at 7.5 million and is expected to reach 8 million by the end of the decade. Mini Israel. This is an industrial city based on imports and exports (the largest port of transportation in the US " B), oil, gas and petrochemicals as well as medicine, as well as NASA Research Center and more. It is a growing and sought-after, powerful and powerful city - every visit we are surprised again.
Our operations are concentrated in 4 northern neighborhoods that are undergoing a generic - urban regeneration with population exchange. Decades of old homes (actually from the 20s) are bought by us, demolished, and on their land we build Town House. Town House is an alias for private houses, usually built on 2/3 floors per unit. The projects we build with groups of investors who are recruiting in the country (we are always first investors in buying land and only then raising), taking a construction loan there (and most recently in borrowing in Israel), issuing permits for 6 to 8 months and building dependent on the amount of units A total of about 15 months to 4 units and up to 30 months to 20 units - all including the permit period. Real yields entrepreneurial, ie, double-digit. Only the last two weeks (yes, Corona) sold two houses by 5% over list price Know Remote "(also sold online). Environment sale prices 320-350 thousand dollars apiece.
At present, we have 14 projects with a total of 120 housing units. Most of the apartments have been sold, slightly on sale and the rest at various stages of development.
Come here for example - this is how we recently sold two:
Berkeley, CA.
By the same token, we also reached San Francisco, and the city of Berkeley to be exact. It is not a big city and is recognized for its university (UCB - University of California, Berkeley). Our first two projects were demolishing old homes and building new ones, and the current project under construction is on the last vacant lot in town - we put it on hold after the heirs finally decided to separate forces and were in the right place and at the right time (and we did something about it, according to the saying Well-known Ray Crook, founder of McDonald's).
While this is also about entrepreneurship, the numbers are different. These are luxury homes - "urban villas" built of stone. The permit takes 8-12 months (relatively much…) and the construction itself to 3 units one and a half to two years. These homes are selling for $ 1.2-1.6 million.
Currently we have completed two projects with 5 houses and we are in the middle of the third project with three houses.
Remember, we're an investment house that caters to different types of investors with varying needs, and so far we've talked about entrepreneurship, but what about yielding assets? What about cash flow? or. To that end, we have partnered with other partners, reputable companies, history, reputation and roots.
Jacksonville, FL
Multi-Family - We purchased Multi-Family in an off-market deal that we quickly closed. All units are undergoing renovation and repopulation, the rent is paid to quarterly investors and within four years we will put the property up for sale. Raising the value we make while buying below market price ensures us a handsome profit on sale while enjoying current rent.
By the way of Corona - we hold an emergency fund with three months rent. In April we collected 88% of the rent (another apartment will pay next week). However, to be more cautious, the quarterly payment (January-March) we still postpone May, until we understand how much the crisis has affected and / or may further affect and hurt revenues, so as not to put the property in the pipeline .
Cleveland, Ohio
Office Buildings - These are the deals we do in Cleveland, Ohio. Offices is a trick and I have seven experience from office transactions I have managed in the field. The difference is that housing is a "necessity" but an office in a sense is "luxury." Debt holders will always prefer to get rid of an office before selling and leaving home. Therefore, we would prefer not to enter into transactions of commercial centers or commercial offices (not shops, restaurants, etc. that depend on visitors), but rather to stable offices (all with limited liability) and in selected areas. Our local partner is a serious player in Cleveland and well-connected to the market and so the deals are reviewed and selected in tweezers.
In this way - a combination of entrepreneurship in a number of different locations and ranges, and real estate yielding a dispersion between avenues and countries, we build investment mixes Adapted to any investor According to his abilities, desires, goals and goals, combined with his level of risk aversion or cash flow needs. Everything is Tailor made.
So, how did we get from an entrepreneurial company to an investment house, and who is it "we" at all - in the next and last post, tomorrow.
In pictures - a mix of some recent projects
Beautiful Maddad ????????????????
Thank you
Cannon!