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Evan Torrens
  • Valley Cottage, NY
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We put up 70% you put up 30% and we split the net 50-50

Evan Torrens
  • Valley Cottage, NY
Posted Mar 17 2018, 17:07

Hey potential investors and partners!

 I'm Evan "Thor" Torrens and I'm with Prosperity Group Holdings. 

I'm currently seeking serious investors and potential partners. 

Who We Are

Prosperity Group Holdings (PGH) is a premier real estate private equity group focusing on the high growth Philadelphia markets. 

With more than 150 properties to date in the Fishtown, Northern Liberties, Kensington, and Port Richmond areas; Managing Partner Adam Mocio has helped investors experience consistent above market returns in the Philadelphia area since 1999. 

Throughout his 40 year track-record he has positioned himself in the right buying markets which included Manhattan in the 1970’s and 1980’s followed by Brooklyn in the 80’s and 90’s. 

Focused on key fundamentals, his team has been very successful in finding below market deals in these specific Philadelphia neighborhoods and through his buy-hold strategy has been able to see 2.5 x returns on average. In several circumstances, returns have been north of 4x.

PGH and its management team believe within a buy and hold strategy, investing in multi-family and mixed use properties within developing areas such as the riverwards neighborhoods. We use key relationships through each of our team members we have in place for commercial financing which provides investors with the ability to put up less capital while retaining larger percentages of the equity than if they were all cash deals.

Taking an investor friendly approach, we look for properties that will provide positive cash flow. More specifically, we seek properties which provide a capitalization rate above 8% which includes a preferred rate of return and prorated split on monthly net cash flow. PGH takes the liberty of managing each process from acquisition to day-to-day management to help control costs, and maintain tenants within each property.

The AirBnb Effect

Adapting to a short-term rental approach in the beginning of 2017, we were able to capitalize on our strategy even further. In many cases, we are able to do 1.5X and greater for each of the properties under our portfolio. To those unfamiliar with the concept, Airbnb is a loop hole in the hotel / hospitality industry that allows you to rent out your home much like a hotel is without all the red tape.

The Strategy

PGH’s unique buy-hold strategy has allowed them to produce significant investor returns. The strategy begins with the purchase of an undervalued property. PGH then takes on the design, management, and execution of renovation work, driving up property value significantly from day one. 

Following the completion of the necessary renovation work, residential units are converted to Airbnb properties, where returns have doubled and, in some instances, tripled when compared to long term renters. 

PGH takes on the management and turnover of the Airbnb properties, as well as the property and tenant management associated with any commercial space in each property under their umbrella. Partner Ryan Kim, with his vast execution experience in the real estate space, heads up all property management functions.

      Why Philly?

If you are wondering why we invest in Philadelphia, the answer lies within the growth multiples over the last few years. There have been four major reasons why Philadelphia neighborhoods such as Fishtown, Northern Liberties, and Port Richmond have seen growth of 2.5 to 5x over the last eight years: 

 Migration of millennials to city from Suburb and surrounding cities 

 Multi-million dollar development projects like the Woods project
 Waterfront development covering 6.2 miles of the Delaware River

 Opening of Coffee shops in otherwise undervalued neighborhoods

The yuppie movement correlates directly to real estate appreciation, and where there are coffee shops, you can find young professionals that will slowly move into the area driving up real estate values. 

Documented in a recent article in “Money”, the Starbuck’s Effect proves this correlation. 

In Philadelphia, its not just Starbucks but the introduction of any affluential coffee shop. 

Once a shop is opened there is a carry on effect by other upscale shops, restaurants and bars like there has been in the Northern Liberties and Fishtown neighborhoods. 

Port Richmond and Kensington are just starting to experience this same effect. 

More specifically, between 1990 and 2000, just 1.5 percent of the city’s poor neighborhoods were gentrifying. Since 2000, 28.7 percent of those neighborhoods are gentrifying. Do the math: it’s an 1,813 percent increase.

   The Waterfront

Poised to be fully developed by 2022, the development of more than 6.2 miles of waterfront property have been one of the many reasons why this area continues to experience rapid growth. Large developments such as the waterfront and other multi-million projects have continued to pave the way for some of the largest growth figures in the United States.

The City of Philadelphia plans to invest $550 million to Improve the Delaware River waterfront to drive up tourism, river related activities and overall lifestyle across the surrounding neighborhoods. In turn, the City expects more than $1 billion in increased spending. Infrastructural changes like new roads, and walkways have already been under development for the last six months with more development to follow.

Why You Should Consider Investing With Us

 Management on site for all renovations to ensure projects are completed with precision through a team of 30+ professionals 

 Relationships in place with local politicians for the last ten years providing us with access to the best local contractors and properties at below market pricing 

 Through this combination, renovations are being done under projected budgets and helping us attain rents at or above the local market. 

Simply, it’s the advantage of having a qualified and proven team in place that is overseeing each aspect of any acquisition so that you can make investments and collect your payouts while continuing to live your life.

Investment Opportunities

Prosperity Group Holdings has a number of open investment opportunities. I have two deals on the table right now that I would love to have someone from Bigger Pockets join me on! For more information, and to discuss investment terms, please contact:

Evan Torrens  

845-821-0029

[email protected]

Offering