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Apartment investing is undergoing a profound transformation in regards to multifamily design and amenities. The age of the shoe-box apartment is over. Changing climates in construction, social trends, economic growth and consumer demand have forced apartment investors and developers to re-examine what apartments could and should provide tenants. Apartment investors, whether they are refurbishing existing buildings or developing new complexes, are taking a drastically different approach to multifamily design and amenity provisions. This episode, we are fortunate to have two guests lending their insight and experience to the changing perceptions of what tenants want out of an apartment space.

Phillip Smith is CEO of Framework Group, LLC, a multifamily development and construction group based out of Tampa, FL. Phillip oversees acquisition, design and development of multifamily communities. Currently, Framework Group has projects under construction in Tampa, Orlando and Sarasota, with projects under contract in Jacksonville. Framework Group’s goal is to provide multifamily communities with location and amenities that highlight and promote the urban lifestyle. By pushing the envelope of what makes a sensible investment to what meets with consumer demands, Framework Group has become a major figure in and development, offering full-service, high end apartments in Tampa and along the I-4 Corridor.

Jason Schaller is Managing Director of Property Management for McKinley. McKinley owns and operates a $4.6 billion real estate portfolio, 35,398 apt. units and 21 million SF of shopping centers and office centers around the country. The Michigan-based firm has a special interest in Florida’s I-4 Corridor with much of their Florida portfolio focused on it. Jason currently oversees Mckinley’s line of boutique apartment projects in Tampa, Mckinley | Hyde Park. Jason brings over 20 years of design and construction experience to multifamily design, refurbishing older and historic buildings and adapting them to suit the growing urban lifestyle.

Amenities

• Reinforce and promote urban lifestyle
  • bike-share programs
  • Canoe, kayak, bike storage
  • Outdoor kitchens
  • Functioning communal spaces
  • Technological integration
• Health and Wellness Focus
  • Hot/cold plunge pools and resistance pools vs. traditional pools
  • High-end exercise equipment
  • Classes, training courses: yoga, exercise, massages
• Pet amenities
  • Green spaces
  • Grooming

Multifamily Design and Development

• High-end finishing/fixtures
  • Quartz counter-tops
  • Rain-style shower-heads
  • Upgraded moldings
  • Wine glass racks
  • Kitchen storage
  • Stainless steel appliances
• Individual feel
  • Corridor entrances
  • Lighted unit numbers
• Space
  • High ceilings
  • Larger rooms
• Décor
  • Natural finishes
  • Authentic colors and textures

If you are a building owner in the Tampa area and you think it might make a great addition to the McKinley | Hyde Park portfolio, visit the Principal to Principal contact page on their website. To find out more about becoming a resident at a McKinley | Hyde Park project, visit the Apartments page on their website for more information.

Framework Group, LLC provides general contracting services and selective development consulting in addition to project development and construction. To find out more about current and upcoming projects along with services offered, visit their website.

The post Ep. 99 Phillip Smith and Jason Schaller: What You Need to Know About Multifamily Design and Amenities appeared first on Real Estate Investing in Florida.

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Listeners of the show will remember Jillian Bandes who, in episode 74, discussed what real estate investors should consider about building structure when looking at commercial multifamily investing. The project manager for Bandes Construction covered 6 hot topics on building structure and maintenance that investors should be aware of with commercial multifamily properties.

In this episode, we discuss Jillian’s first investment property….a single family home with an ajacent rental apartment.  She discusses razing the property, dealing with the local code and building officials and her plans on whether to rent the units or live in one and rent the remainder.  The property was purchased through a foreclosure and we cover the online methods now employed by Pinellas County.  Not only is this project about a potential home and investment, but Jillian is  passionate about blazing the trail for urban renewal and redevelopment in St Petersburg’s core and her unit is in the heart of a rapidly changing area.

• Residential property permitting and zoning regulations differ from commercial properties
• Property location
  • Choose property in an area you are familiar with
  • Walk surrounding neighborhood
• If investment property, define target rental market
• Due-diligence
  • If foreclosure property, know state of title (liens)
  • What is the property zoned for? Is property up to code? Accessory buildings permitted?
• Work with local and municipal officials
• St. Petersburg, Florida
  • Undergoing immense urban growth period
  • Investors need accessibility to invest in properties with potential for redevelopment/renewal
  • South St. Pete offers development opportunity and reasonable prices w/ proximity to cultural amenities

Jillian extends a big thank you to Carlyn Neuman of Tampa’s 360 Realty for helping to navigate online foreclosure bidding as well as to Katrina Trump of Bank of Tampa, for assisting with securing financing.

The post Ep. 96 Jillian Bandes: Making a Complex First Invest in Small Multifamily appeared first on Real Estate Investing in Florida.

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Florida was hit hard following the real estate crash in the mid 2000s. As the market began to return, real estate investors saw the foreclosure market as a well-spring of opportunity and many took advantage of the asset class. However, as real estate markets have rebounded, foreclosure markets have begun to dry up. Investors have found it increasingly difficult to find successful strategies for bidding on foreclosures.

Our guest this show has been buying and selling foreclosure properties since the late 1990s. Focusing solely on Broward and Palm Beach counties, Eric Nathanson has developed successful strategies for bidding on foreclosures and has earned a leading reputation in South Florida’s foreclosure real estate markets. Eric is co-founder of Bidologist.com, a third-party turnkey investment company offering investors bidding on foreclosures a single source for investment solutions. This episode, Eric discusses the current trend in South Florida’s foreclosure markets as well as strategies for investors bidding on foreclosures.

• Broward and Palm Beach Foreclosure Markets
  • Majority of real estate markets returning to pre-crash point
  • Large foreign investment/flight capital base
    • China, Brazil, Venezuela, Russia
  • FC supply thinning
    • Investors no longer able to cherry-pick from select areas
    • Must cast wider net to suit investment goals
    • Online bidding
      • Easier for investors to gather info on properties
      • Bidding pool expanded internationally
      • Bank has option to hide bid, making bidding more selective
    • Likelihood of future foreclosure markets slim
      • Financing regulations much stricter
      • Cash-laden market
  • Possible market for investors who can afford to purchase condos with rental restrictions and wait them out
  • 5% down required for bidding on foreclosures
• Bidologist.com
  • Turn-key investment solutions for investors bidding on foreclosures
  • Personal relationship with clients
    • Strategies suit individual investor goals
    • Fees based on volume, property value, etc.
  • Handles due diligence
    • Preliminary and full title searches, property inspections

For any further questions regarding strategies for bidding on foreclosures, contact Eric by phone: 954-735-4000 or by email: info@bidologist.com

To find out more about the services offered by Bidologist.com, visit their website!

The post Ep. 83 Eric Nathanson: Winning Strategies for Bidding on Foreclosures in Broward & Palm Beach appeared first on Real Estate Investing in Florida.