Tag Archives: multi-family

Ep. 203 Rod Khleif: Staying Positive about Multi-Family Real Estate during the COVID Crisis

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Staying Positive about Multi-Family Real Estate during the COVID Crisis

Today we talk with Rod Khleif — real estate and multi-family investor in Sarasota, FL — about how he is coping during this COVID crisis. Although Rod admits that a lot of business aren’t going to make it through this pandemic, he takes the position that “along with serious pain, there will be serious opportunity” and that investors should focus on moving forward and not get caught up in the fear and hype.

Key Discussion Points
[01:03] Opening remarks by Eric Odum
[04:14] About our guest: Rod Khleif
[05:12] Tell us how you’re faring in multi-family and what the outlook is for the future
[12:12] What’s your situation with managing your tenants during this COVID crisis?
[24:31] How should investors be positioning themselves for the future?
[29:06] Are you worried about not having a COVID vaccine for another 18 months?
[34:23] How is this recession different than the last recession?
[40:04] Closing remarks by Eric Odum

About our Guest

Rod_Khleif_imageRod Khleif is a multiple business owner and philanthropist who is passionate about real estate business and giving back. As one of the country’s top business real estate and peak performance luminaries, Rod has owned over 2,000 homes and apartment buildings, and has built over 24 business in his 40 year business career – several of which have been worth tens of millions of dollars. Rod also founded the Tiny Hands foundation which has benefited more than 75,000 community children in need.

 

Website: multifamilyvirtualbootcamp.com

 

Ep. 95 Bijan Gorji: Making Money with Residential Condos

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investing in residential condosWho is this man and why is he smiling?

This man is Bijan Gorji, a real estate investor based in Sarasota, FL. Bijan is a special kind of investor though. Bijan invests solely in one asset class–one often overlooked by other real estate investors–residential condos.

Bijan believes that residential condos as an investment asset class have been an unfairly neglected market for too long. Where others see problems, Bijan sees potential… and it is paying off well for him. Since moving to Sarasota from California in 2012, Bijan and his wife have acquired a portfolio of over 35 residential condos with plans to continue investing in more residential condos. This episode, Bijan will discuss why he settled on residential condos as his chosen asset class and why it should appeal to investors from a financial standpoint along with providing a brief overview of Sarasota’s real estate investment market.

  • Pros of Investing in Residential Condos
    • Easy property-management compared with single-family
      • Low upkeep costs
      • Ability to self manage properties
    • Tenant profile allows fluid leasing
      • 1-2 bedroom units to working professionals or grad students; no families
      • Tenant turnaround quicker
    • Buy-and-hold investment w/ monthly cashflow
    • Hands-on investing allows oversight over all facets of investment
  • Investing Tips
    • Check HOA regulations for condo before investing
    • Find properties within driving distance if self-managing
    • Finding tenants is biggest issue with residential condos: list on Craigslist, Zillow, Hotpads, etc.
  • Sarasota Market
    • Huge amounts of construction (Multi-family and Single-family)
    • Rents steadily increasing across all sub-markets
  • Inspiration

If you think you have an investment deal or if you have more questions about how to make money investing in residential condos, contact Bijan directly by email at bgorji@gorjillc.com

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

 

 

Ep. 43 Steve Berges: Tips on Selecting A Property Manager

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ServeAttachment.ashxSingle-family investors looking to transition to multi-family investing? It is important to remember that multi-family investing has different rules and procedures than single-family. It is crucial to have an understanding of the dynamics of multi-family markets. While a working knowledge of multi-family markets is vital, even seasoned investors cannot oversee all aspects of property management.

Steve Berges, author of Complete Guide to Buying and
Selling Apartment Buildings has some tips on transitioning into multi-family markets and, most importantly, on selecting an effective and responsive property manager for your asset. With over $100,000,000 in multi-family transactions under his belt, Steve has the experience and know-how to achieve success in multi-family investing.

  • Value-Play/Value-Add System
    • Property undervalued for certain reasons relative to current market
    • Low-risk investment
    • In/out investment, not long term
  • Multi-Family is More Economical Than Single-Family
    • Multi-family flips still generate occupancy cash-flows
      • 70-80% occupancy compared with the usual 0% of single-family flips
      • Multi-family property should be breaking even, with proper research
    • Lower frequency of transactions per year than single-family
  • Multi-Family Markets are Competitive
    • Recognizing competitive market is important
    • Understanding the dynamics asset values and what drives the value is key
  • 3rd Party Property Managers
    • 50+ units should use property managers
    • more cost-effective to “manage managers” than to assume all responsibilities
    • On-site managers are especially important
  • Be a Strategic Manager/Owner
    • Use good judgment selecting property managers
      • Some may seem professional but may be ineffective
    • Develop close working relationship w/ property managers, but do not over-manage
    • Look for property management firms that specialize in multi-family assets
    • Be patient, do not rush investments

A devoted family man, Steve works with only a small group of partners a year, but he welcomes any investors to contact him with questions, to share interests or even propose investment opportunities!

You can visit his website at www.steveberges.com for even more information and updates!

Check out related content and past shows on our website!