Tag Archives: I-4 corridor

Ep. 164 Brian Alford: Your Multifamily Market Outlook for the I-4 Corridor

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Florida’s I-4 corridor has long been a hot-spot for investors. As a main commercial artery connecting the state’s east and west coasts, the area has served as fertile ground for investors of several asset classes. Now, thanks to explosive job and population growth in several metro areas, the I-4 corridor’s multifamily market has been booming.

I-4 Corridor Multifamily Market Outlook

  • The I-4 corridor’s major metro areas are experiencing intense growth
    • Tampa & Orlando
      • Lakeland, Lake Mary/Sanford (Sub-markets)
    • $1.24-$1.26/sf across all asset classes (30% increase in pre-recession rates)
  • Rental demand outpacing construction and inventory
    • Vacancies compressing
    • Markets primed for B + C-class rental drivers
  • Institutional investor activity increasing

5-Year Forecast

  • Expect to stop start seeing decrease in new home starts
  • Rental demand not likely to drop-off
  • Metro area growth metrics should slow, but due to sustained market demand will maintain an equilibrium state

About Our Guest

multifamily marketThis episode, we are honored to have Brian Alford join us to discuss this multifamily market outlook for the I-4 corridor. As a Market Economist for CoStar, Brian specializes in providing on-the-ground analysis for the Central Florida region, including the I-4 corridor’s major metro areas and sub-markets.

Brian brings with him nearly 15 years of experience as a financial analyst having worked with commercial real estate through a variety of asset classes.

If you are interested in getting a more detailed outlook on the I-4 corridor’s multifamily market, or you have additional questions regarding the Central Florida region, fell free to reach out to Brian directly. Additionally, you can find much of Brian’s published content online or by visiting costar.com.

 

 

Ep. 155 Rick Melero: Flexible Investment Strategies Can Help You Keep Ahead of the Real Estate Cycle

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You don’t need to be an expert to know that the current real estate market cycle is winding down. As popular asset classes and sub-markets become more competitive, you may be finding your current investment strategies are not earning the returns you’d like. As we continue to feel the effects of a contracting market, you may be wondering what you can do as an investor to increase your earnings and ensure a successful strategy that can adapt with a changing cycle.

The good news is that real estate is a robust and varied industry. There’s more than one way you can earn money through real estate investing and there are creative, flexible investment strategies that you can develop to keep a strong portfolio even through market downturns.

Our guest this week discusses the power of flexible investment strategies as well and offers up a market overview for Florida’s I-4 corridor. We learn that, with an open mind and a will to adapt, there are still tons of opportunities open to investors!

You don’t want to miss this episode on building flexible investment strategies to keep you ahead of the real estate cycle!

About Our Guest:

real estate investment strategiesRick Melero is the Co-Founder and Principal of HIS Capital Group, a comprehensive real estate investment and lending group. Rick has assisted in the acquisition and restructuring of over $500 million in assets internationally.

Rick has worn many hats as a real estate investor. Early on, he realized there was a lot more to real estate investing than just wholesaling and single-family flips. Since then he’s gained experience across a variety of asset types and developed a unique insight into developing successful strategies.

 

Ep. 133 Greg Ruthven: The I-4 Corridor is a Hot Market for Industrial Investors!

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Florida’s I-4 corridor has long been a focus of industrial investors and developers. Connecting Tampa, Orlando and the east coast, the I-4 corridor serves as major transit artery. With recent arrivals of big names, like Amazon and Walmart committing to massive industrial developments, interest in the market has only been growing among industrial investors.

central florida industrial investorsGreg Ruthven is one man who knows what makes the I-4 corridor such a prime market for industrial development.

The Ruthvens, a family-owned and operated business started by Greg’s father, are one of the largest developers and owners of industrial real estate in and around the I-4 corridor. They currently hold 85 warehouse and industrial properties, totaling over 3 million square feet.

This episode, Greg tells us why he loves Central Florida and why the area is such a hot market for industrial investors.

Industrial Investors Love the I-4 Corridor

  • I-4 is major transit artery
  • Central Florida has a lot of available open land to accommodate large developments
  • 10 million people live within 100 miles of Lakeland, FL

Florida Industrial Market is on the Rise

  • Shift towards E-commerce is driving logistics and distribution demand
  • Major companies are consuming warehouse and distribution space
    • Amazon
    • Walmart
    • Major companies drive industrial demand, attracting smaller companies

About The Ruthvens

The Ruthvens have been building and leasing warehouse and industrial space in Central Florida since 1957. Based in Lakeland, the Ruthvens have deep roots in the community and specialize in a commitment to individual warehouse space needs. They build, lease and sell industrial space ranging anywhere from 1,000-150,000 SF.

To learn more about The Ruthvens and their services, visit their website.

“If you need warehouse space, you call the Ruthvens” – (863) 686-3173

 

 

 

Ep. 111 Todd Hutcheson: Getting Into Real Estate with Limited Cash

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getting into real estate with limited cashWould-be investors always want to know ways of getting into real estate with limited cash. Regular people interested in real estate investing may be put off by the idea that real estate investing relies on huge cash reserves or access to capital. They may wonder how they are able to become an investor on a limited budget.

Enter Todd Hutcheson

A native Floridian, Todd has been an active investor in Florida real estate since 2001. His firm, ibuyhomes.com, is a nationally ranked wholesaling platform connecting buyers and sellers close on deals all over central Florida. Todd lends his wealth of experience to several investor resources, like real estate investors associations (REIAs). He is a current board member and president-elect of the Central Florida REIA.

He is helping people discover that getting into real estate with limited cash is doable through strategic marketing, networking and continuing education.

Getting Into Real Estate with Limited Cash

Wholesaling Done Different

  • Marketing-based strategy
  • Find motivated seller, put houses under contract, assign contract to investor
  • Get paid on assignment
  • Close in 8-10 from signed contract
  • 100% cash-buyers

Investor Advantage

  • Wholesaling helps investors find unlisted properties
  • Some investors don’t have marketing prowess and need help finding deals

Minimizing Risks with Wholesaling

  • Reliable tool of cash-buyers to lessen risks
  • Investors with proven track record of deals more likely to close

Marketing & Finding Deals

  • 60% of leads through ibuyhomes.com
  • 30% of leads from new investors
  • 10% of leads from selective direct-mailings

Central Florida Recap

  • Hot market
  • Lower-middle class neighborhoods seeing high price indexes
    • Pine Hills & Deltona
    • $120-130k for SFRs, $850-1050 for rents
  • Buy-and-hold investors may see tightening, wholesalers not affected as much
  • Out-of-state and foreign investors wanting to buy
  • I-4 corridor is key barometer for state markets

Other FL Markets

  • Cape Coral
  • Gainesville – strong multifamily development rise

Resources and Tips

Contact

Want to know more about getting into real estate with limited cash? Email Todd: todd@ibuyhomes.com

Visit www.ibuyhomes.com or call (407) 617-4289 for any other questions

Central Florida investors, visit CFRI‘s website for events and news.

 

Ep. 99 Phillip Smith and Jason Schaller: What You Need to Know About Multifamily Design and Amenities

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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.

multifamily design and amenitiesPhillip 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.

multifamily design and amenitiesJason 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.

 

Ep. 57 Albert Berriz – McKinley Bullish on I-4 Corridor for Multi-Family

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00f4451Florida real estate investors should be familiar with the name McKinley. With over 55 million square feet of commercial and residential real estate in 34 states, McKinley, Inc. is 37th largest real estate investment and management firm in the nation.

Albert Berriz, CEO, Co-owner & Co-Managing Member of McKinley talks with us this week about the firm’s special interest in Florida. The Interstate 4 Corridor, connecting Tampa, Lakeland, Orlando and Daytona Beach is favorite of McKinley for it’s unique position as a major economic engine for Florida. The firm owns and manages 55 multi-family communities along the I-4 corridor. Albert discusses the firm’s attraction to the corridor as a region of of immense population growth.

  • I-4 Corridor
    • Tampa/St. Petersburg, Lakeland, Orlando, Daytona Beach
    • 3/5 of Florida Residents centralized around I-4
    • 6.5 million residents (6th largest population concentration by geographic area in U.S.)
  • Economic Growth
    • 1.3 times over growth rate of South Florida
    • Panama Canal to introduce Port of Tampa to new markets
    • All Aboard Florida rail project to provide high-speed transit between Orlando and South Florida
      • Tourism/Entertainment
        • Theme Parks in Orlando and Tampa
        • Coastal attractions

For any investor seeking to improve their success in the real estate market, Albert believes that a mentor is an invaluable resource for investors. The expertise and understanding of a seasoned investor can provide knowledge and guidance to make actionable investment decisions.

Albert cites Colin Powell as a distinct influence on his development as a leader. Despite his focus in military and politics as opposed to business, Gen. Powell established himself as a true leader in his field and exhibits the qualities of leadership that can be applied to any individual.

Check out Colin Powell’s literature on leadership on Amazon

To find out more about Mckinley’s properties in Florida visit their website