All Forum Posts by: Frank Jevitzky

@Christi Hawkins I see value in it, the layout is like Zillow for commercial/MF. Unfortunately, it doesn't show data for properties sold so it's difficult to determine a more accurate cap rate without contacting a broker. All-in-all, I think it's a great way to pre-screen those properties and see if they're the right fit for you. There's a lot of really useful information for each property. 

Have you looked into www.loopnet.com? They have listings specifically for commercial/MF properties. I have been using Zillow to try and analyze the SF market. Have not utilized realtor.com, Trulia, or Redfin as much as I want to, it's just a lot of data to sift through to try to pinpoint accuracy between all the platforms. I personally plan to network with realtors in my area very soon.

@Khoa Ha That's great! It's sounds like you purchased at a great time and the value-add and appreciation over 2 years is impressive! And thanks so much for sharing your process and lessons learned!

@Bryant Tumbelekis Thanks Bryant! I look forward connecting with you in the future. If you decide to attend the Coachella Valley REIA, please be sure to let me know, I would be more than happy to meet and introduce myself!

@Emre Görü It's great to see some new investors in the area! I've seen a few rehabbed properties sold within the last few years in Palm Desert under business entities, so it appears that we may be at the start of a great opportunity!

@Shane Zuspan Thanks so much for your interest! I'm so sorry, but I am not at liberty to give that information as I don't want to create a potential conflict of interest or overstep my boundaries. I would be more than happy to try and answer any questions that may revolve around my area of expertise!

I would be interested to see if there's room for added value in finding an underperforming turnkey asset, reducing expenses, pushing rents, improving move-out damage collection, and collecting on other expenses incurred by residents such as utilities, waste-removal, pest control, etc. I may be wrong, but determing the value of an asset based on comparable recent sales would give a comparable cap rate, but couldn't the value of a multifamily asset be altered through increasing NOI? It wouldn't really be BRRRR, but another strategy nonethleless?

@Todd Tyler Thanks for reaching out! In my opinion, the Palm Springs market has great potential. Typically, this area attracts seasonal residents that move to the area at the end of fall and move out at the start of summer. However from my experience at the community I manage, this summer has been extremely busy and I've been told by several prospects that they can't find an apartment anywhere in Palm Desert (which is specifically where I live and work).

@Khoa Ha It's great to meet a successful investor! I just saw the article on the median property taxes that Bigger Pockets posted and I was surprised to see that Orange County is higher than Los Angeles! I will certainly add you to my buyer list and I look forward to connecting with you in the near future! Please don't hesitate to reach out to me if you ever have any questions.

@Jack Butala Thanks Jack, I really appreciate the welcoming!

@Jo-Ann Lapin Thank you Jo-Ann! I look forward to connecting in the future!

Hello all!

I'm a new investor operating out of the Palm Springs (Riverside County) area looking for investors and professionals to network with. My goal is to start with wholesaling and rehabbing with an interest in partnerships for buy & holds. Even if we can't benefit each other, I'll gladly see how my knowledge may benefit you.

A little bit about me... I've been in multifamily property management for almost 10 years in California. I currently manage a 58 unit apartment community and I was the leasing manager of a 752 unit property. Within my first year managing my community, I made major contributions that increased NOI by 21% and net income by 39% all while performing upgrades within the apartments. I'm very numbers-focused and I love challenges and finding solutions. I really love helping people. I've built great relationships with many of my residents, my owners, and my management company. My wife and I have the ultimate goal of achieving financial freedom and being able to give back to communities.

I'd love to network with others and see how we can create a mutually beneficial relationship. Please don't hesitate to reach out to me with any questions. I'll gladly do my best to answer California multifamily management questions as well. I look forward to meeting you all!