Tag - investors

How to Insure a Real Estate IRA Property

How to Insure a Real Estate IRA Property

Charlotte, NC/September 17, 2017 (PRWEB) (StlRealEstate.News) –Owning a real estate property within a Real Estate IRA is not only a great way to build wealth, but it can be a tremendous boon to an investor’s retirement nest egg. Jim Hitt of American IRA recently took to the American IRA blog to explain how investors can further protect this nest egg by insuring their Real Estate IRA property in the proper manner.

According to Jim Hitt, investors should consider insuring their Real Estate IRA property as they would their own home—the difference is in the way an investor might go about it. Like any property, an investor wants some assurance that they’ll have what they need for long-term protection, which in turn boosts the feeling of financial security.

But Jim Hitt also explains that there are certain rules and regulations that Real Estate IRA investors will need to comply with to avoid taxes and penalties.

“First,” said Jim Hitt in the blog, “you should not be using a standard HO-3 homeowner’s insurance policy. You don’t live in the home yourself (IRA rules prohibit you from doing so), and you’re probably renting it out. So the insurance policy you need is a landlord’s insurance policy, not a straight homeowner’s insurance policy.”

This demonstrate a critical difference between holding property in an IRA and not in a general way—investors have to separate themselves from the IRA to a large degree.

Jim Hitt also made the point that the insurance policy should not personally benefit the investor as the beneficiary—the account itself should be the beneficiary of the insurance policy.

Insurance premiums, too, will be separated from investors’ usual finances and will be paid by the IRA itself. Jim Hitt explains that a Self-Directed IRA administration firm like American IRA can be contacted to figure out how to make the logistics of such a transaction take place.

“With this article, I wanted to show people what it’s like to protect yourself with a Real Estate IRA,” said Jim Hitt. “Many people don’t know just how separate you have to be from the real estate within your retirement account. But if you do it right and work with a reputable Self-Directed IRA administration firm, the paperwork becomes much easier to handle.”

About:

American IRA, LLC was established in 2004 by James C. Hitt in Asheville, NC.

The mission of American IRA is to provide the highest level of customer service in the self-directed retirement industry. Mr. Hitt and his team have grown the company to over $250 million in assets under administration by educating the public that their self-directed IRA account can invest in a variety of assets such as real estate, private lending, limited liability companies, precious metals and much more.

As a self-directed IRA administrator they are a neutral third party. They do not make any recommendations to any person or entity associated with investments of any type (including financial representatives, investment promoters or companies, or employees, agents or representatives associated with these firms). They are not responsible for and are not bound by any statements, representations, warranties or agreements made by any such person or entity and do not provide any recommendation on the quality profitability or reputability of any investment, individual or company. The term “they” refers to American IRA, located in Asheville, NC.

Pharma Property Group Signs Up $35,000,000 in Exclusive Drugstore Business

Pharma Property Group Signs Up $35,000,000 in Exclusive Drugstore Business

SAN DIEGO/ Sept. 14, 2017 (StlRealEstate.News) — Over the course of the last ten days, PPG has signed up roughly $35,000,000 in drugstore exclusive listings and drugstore exclusive buyer representation agreements.

“When we market drugstores to the public for sale our firm has a stellar reputation for having exclusive listings signed allowing investors and brokers to know that we have full control of our investment offerings and that our clients are serious sellers,” stated Jason Pongsrikul, Managing Principal of Pharma Property Group.

“The $35,000,000 in new business that we signed up last week was $25,000,000 in exclusive drugstore listings and $10,000,000 in exclusive buy side arrangements for an upcoming 1031 exchange.  About $17,000,000 of the $25,000,000 of sale side product we signed up will also be performing 1031 trades later in the year and into early 2018,” continued Mr. Pongsrikul.

“We are proud to say that this business is all from repeat clients with whom we have done multiple transactions over the years.  PPG values the trust that our clients have in our brokers and we are excited to complete these upcoming transactions and place our clients in superior drugstore investment positions,” concluded Mr. Pongsrikul.

Pharma Property Group is a specialized national commercial real estate brokerage firm providing investment services for drugstore landlords who own Walgreens, CVS and Rite Aid properties throughout the nation.

SOURCE: Pharma Property Group

Visual Analysis Shows Coastal Risk Consulting’s New Flood Risk Model Matched Actual Flooding From Irma

Visual Analysis Shows Coastal Risk Consulting's New Flood Risk Model Matched Actual Flooding From Irma

PLANTATION, Fla./ Sept. 14, 2017 (StlRealEstate.News) — Coastal Risk Consulting LLC, the only online source for comprehensive flood risk assessments for property owners, today released its side-by-side analysis of flooding at the J.W. Marriott Hotel on Brickell Avenue in Miami, showing Coastal Risk’s projection of the hotel’s storm surge risk matched real-time images of Hurricane Irma’s actual impact.

“Knowing a property’s flood risk is the first step to safeguarding it,” said Albert Slap, President of Coastal Risk. “Becoming more resilient to increased flooding from torrential rainfall, major storms and extreme tides is critical for homeowners as well as businesses, commercial real estate investors, and local governments.

The next challenge for the owners of properties damaged by Hurricanes Harvey and Irma is whether and how to rebuild to become more flood resistant in the face of severe weather to come.”

“The future of flood mapping is here,” Mr. Slap added. Available online for any coastal U.S. location at www.floodscores.com, the Company’s Coastal Risk Rapid Assessment™ graphically demonstrates current and future flood risk from tidal flooding, storm surges, heavy rainfall and groundwater inundation. Coastal Risk’s proprietary technology assesses a property’s flood risk down to 1- square meter by downscaling datasets from NOAA, FEMA, USGS, USDA, the US Army Corps of Engineers and other sources and by applying high-resolution property elevation data.

Property owners need better flood risk education and communication tools to make better decisions about protecting themselves, their families and their businesses,” Mr. Slap said. “In every coastal state in the U.S., homeowners, realtors, developers and investors, insurers and mortgage lenders, and commercial and municipal facilities turn to Coastal Risk to help them get climate ready and storm safe.”

In light of the extreme suffering caused by Hurricanes Harvey and Irma, Coastal Risk will donate ten percent of revenues from sales of its FIRST Score® and Coastal Risk Rapid Assessment™ products to the Red Cross for the remainder of 2017 to assist in recovery efforts in Texas and Florida.

SOURCE: Coastal Risk Consulting LLC

Design-Forward Real Estate Developer dasMOD Announces Fast, Record-Setting Sale of Newest Residential Property

Design-Forward Real Estate Developer dasMOD Announces Fast, Record-Setting Sale of Newest Residential Property

ENCINITAS, Calif./ Sept. 11, 2017 (StlRealEstate.News) — The most recent project from real estate development firm dasMOD (http://www.dasmod.com/) found an enthusiastic buyer in just three days, thanks to the firm’s understated, modern approach to renovation and interior design. And, this sale represents the third time in a row that a dasMOD property has set price records for its neighborhood.

“We believe it is possible to create value where previously there was none,” says dasMOD Co-Founder Erik Gilmer who, together with fellow Co-Founder Sven Simon, has built a firm that has quickly established a strong foothold in Southern California. “Therefore, we always challenge the highest and best use of all properties from the get-go.”

dasMOD’s founders discovered their latest residential project at 2222 Via Tiempo in Encinitas’s Cardiff-by-the-Sea neighborhood. The unassuming one-story ranch home now features an open floor plan, expansive windows to let in generous natural light, disappearing walls, and understated but evocative design elements. Just the right amount of color provides an accent to the neutral design palette. The overall design philosophy blurs the line between indoor and outdoor, and makes the space warm and welcoming.

In celebration of the completed project, dasMOD staged a pre-market preview party at the residence. Attending the festivities was a host of influencers and innovators in real estate, architecture and interior design. The preview party was an unqualified success — as demonstrated by the sale of the home within just three days for $930 per square foot, which far exceeded comparable properties in the area.

Part of dasMOD’s great success lies in its knack for identifying and closing the best possible deals, owing to the firm’s extensive network of realtors, investors, wholesalers, builders and other professionals. Once a property becomes part of the portfolio, the firm collaborates with leading architects and designers to re-imagine the space. The result is value creation that other firms simply can’t match. Each property entails an individual investment plan; dasMOD sometimes holds properties for their passive income value or tax benefits. In the case of 2222 Via Tiempo, the strategy called for bringing the property to market.

“Dream it, build it, repeat,” is how Simon summarizes his firm’s fundamental vision. “Our goal is to add value through design. We create extraordinary spaces that people want to call home.”

dasMOD has every intention of capitalizing on today’s success and continuing to set price records, while injecting a uniquely modern design aesthetic into each of its projects. Right now, the firm has several residential real estate projects in various stages of development in San Diego County, concentrated in the desirable north coastal area. These properties are expected to reach the market — and sell quickly — between now and spring 2018.

About dasMOD

dasMOD is a boutique, bold, innovative, design-forward real estate development firm. dasMOD acquires land as well as distressed and income-producing residential, multi-family, hospitality, and mixed-use properties that are well-located in local, niche markets primarily in San Diego County. Its two principals, Erik Gilmer and Sven Simon, have tremendous experience in various aspects of real estate and finance and have built a proven track record. The principals have also earned a great reputation among the top industry professionals in San Diego county.

dasMOD’s team is extremely design-oriented and collaborates with exceptional architects and interior designers to explore the possibilities, envision the future, acknowledge the need for progress, and balance extraordinary design with technical expertise and construction management for exceptional execution.

SOURCE: dasMOD

The First Phase of Schon Properties’ Dh3.2 bn iSuites Development is Sold Out

The First Phase of Schon Properties' Dh3.2 bn iSuites Development is Sold Out

DUBAI, UA/ September 10, 2017 (StlRealEstate.News)–Developer Schon Properties highlights the continued strength of the Dubai Hospitality sector

hon Properties, a major developer of quality properties in Dubai, announced that it has sold out i3 – the first phase of its mega hospitality project, iSuites at Dubai Investment Park, close to Dubai South, and the Dubai Expo site.

i3 is a complex of three mid-rise buildings, offering 292 high-end fully furnished hotel apartments with a total built-up area of over 220,000 square feet – that have been snapped up by international investors further expanding Schon’s reach and Dubai’s appeal beyond the legacy source markets of the Middle East and Indian subcontinent. Today both sub-Saharan Africa and the Far East are established and growing source markets with close to 30% of total sales from these regions.

Dubai is an increasingly attractive tourist destination, supported by continued investment in the tourism infrastructure, and hosting of large scale global events. The growth in visitor numbers is driving further investment in hotel accommodation expansion. The number of visitors is expected to grow from 15 million in 2016 to 25 million in 2020.

“Dubai is today a global tourist destination, with infrastructure and attractions that are second to none. With the relentless ambition it’s known for, under the guidance of our wise rulers, and associated growth potential, the savvy investor is seeking to participate in this success story,” Danial Schon, President of Schon Properties, said.

iSuites exceptional location, adjacent to the Dubai EXPO 2020, a short drive to the Al Maktoum Airport transportation hub as well as Dubai Parks & Resorts attractions, and served by a station on the planned Dubai metro extension has attracted many international hotel operators looking to establish a presence for their brands. Investing in a hotel apartment managed by the top international operators has been an added benefit to investors seeking superior returns.

The entire complex includes 21 mid-rise buildings – each having 8 floors not including basement floors – around a manmade swimmable lagoon, the first of its kind in Dubai and a retail promenade offering visitors a plethora of shopping, entertainment and dining options.

“Although individual investment in hotel apartments by retail investors is a novel phenomenon, we are pleased to say that we have sold out i3 – the first phase of iSuites, within a short period of time,” Noorul Asif, Chief Operating Officer of Schon Properties.

Long known for its ultra-luxury developments, Dubai recognises that the next leg of growth is going to come from the affordable segment as it appeals to wider audiences, offers more choice at multiple price points to its visitors and thus structurally protect the sector against cyclical fluctuations at home and abroad.

“Positioning iSuites at 4 stars, addresses a gap in the market today. Tourists, especially families are looking for properties in convenient locations, with superior amenities at affordable prices. iSuites delivers and investors recognise that. With i3 sold out, investors are actively registering ahead of our next launch,” Asif said.

About Schon Properties
Schon Properties, one of the top private real estate developers in the UAE, has an 8 million square feet development portfolio valued at Dh7 billion. A vertically integrated company with over 400 staff, Schon has successfully delivered over 1.6 million square feet of developments to more than 3,000 customers (till October 2016). Schon was the first company in Dubai to launch affordable housing targeting mid-market buyers, and the first company to introduce a post-handover payment plan.

Schon’s Vision 2020 focuses on sustainable income models via hospitality investments next to Expo 2020, shifting focus from sales to retaining assets for sustainable income.

About iSuites
iSuites is a 21 building project (2B+G+8), comprising 2,550 luxurious hotel apartments, 52 restaurants and cafes, and 125,000 square feet shopping mall called the Laguna Centrale Mall. The project aims to serve the shortage of 4-star hotel rooms close to the Expo 2020, Al Maktoum Airport, and Dubai Parks and Resorts. iSuites’ total constructible area is upwards of 2.6 million square feet.

SOURCE: Schon Properties

 

Rentec Direct Offers Tips for Renters and Landlords During Natural Diasters

Rentec Direct Offers Tips for Renters and Landlords During Natural Diasters

Grants Pass, OR/ September 9, 2017 (PRWEB) (StlRealEstate.News) –Rentec Direct, the leading property management software solution for real estate professionals, has tapped into its expertise to offer advice for renters and landlords in areas of natural disaster. If property is damaged during a natural disaster, such as Hurricane Harvey-related flooding, damage will affect both displaced renters and the owners who need to repair or rebuild their properties. Rentec Direct, which works with more than 13,000 property managers and over 100,000 renters nationwide, has published resources to help provide some guidelines and tips for those affected.

Nathan Miller, president and founder of Rentec said, “Thousands have been displaced by flooding in Texas alone, with more being affected by Hurricane Irma and fires along the western half of the United States. While each state has different laws, there are guidelines available that can help advise renters on their rights and landlords on their responsibilities.”

For example, in a recent article to help educate victims of the Texas flooding, Rentec reminds landlords that they are required to provide livable housing under the legal doctrine called “implied warranty of habitability.” In addition, Texas law requires that tenants continue paying rent, even if the property is damaged. Many other laws are outlined in the article to help victims navigate during this difficult time.

With hurricane and tropical storm season underway, it is also important for both landlords and renters to ensure that they have taken proper measures to remain safe. Simple procedures such as opening lines of communication, backing up files, creating an emergency preparedness kit and preparing a property before a storm hits can make a big difference. More can be found here: https://www.rentecdirect.com/blog/hurricane/

Renters, investors, landlords, and property managers in affected areas are advised to seek licensed legal assistance in their area for more advice on their state’s rental laws.

About Rentec Direct
Rentec Direct offers industry leading property management software and tenant screening solutions for real estate professionals. Features include online rent payments, tenant and owner portals, the industry’s largest vacancy listing syndication network, full property, tenant, and owner accounting, 1099-MISC reporting, QuickBooks Sync and more.

Think Realty Acquires Community Buying Group

Think Realty Acquires Community Buying Group

KANSAS CITY, Mo./September 4, 2017 (PRWEB) (StlRealEstate.News) —Think Realty, the industry leader in residential real estate investor education and resources, has acquired Community Buying Group (CBG) for an undisclosed amount. The purchase allows Think Realty to continue growing the benefits it offers to its membership base. CBG affiliates and members will transition to Think Realty in early September. New national building material retailers, suppliers and discounts are planned for introduction to Think Realty members post-integration. CBG president, Ben Rao, will stay on in an executive capacity within Think Realty.

CBG was founded in 2012 and reaches 60,000 investors through more than 350 real estate investor associations and organizations. It connects real estate investors to significant savings at Sherwin-Williams Paints, Sunbelt Rentals and more than 20 other national retailers. Its members were responsible for $100 million in supplier spending in 2016.

“It’s important for real estate investors to keep costs in check, and the benefits we provide help do just that,” said Eddie Wilson, President of Think Realty and Affinity Worldwide. “It’s one more way we can add value for Think Realty members.”

“This acquisition will give us more resources to better serve members. It’s great being involved with a forward-thinking company like Think Realty,” said Rao. “We have three new retail and supplier partners under contract focused on savings for building materials, so stay tuned for these exciting announcements regarding new benefits that are ready to be rolled out.”

Think Realty is a central education and information resource for new investors and seasoned professionals, providing members with valuable tools that help them to optimize their competitive advantage, succeed in the industry, achieve wealth-building goals and live a life of purpose. Think Realty is part of Affinity Worldwide. More information about Think Realty can be found at http://www.thinkrealty.com and http://www.affinityworldwide.com.

 

Revestor Deepens Influence in San Diego Real Estate Market for Investors and AirBnB Hosts

Revestor Deepens Influence in San Diego Real Estate Market for Investors and AirBnB Hosts

San Diego, Calif./ (PRWEB)(StlRealEstate.News) August 31, 2017–Revestor is announcing its pivot to a locally-focused San Diego real estate search engine to better serve its customers with real-time data and insights. The focus, solely on San Diego, ensures that Revestor customers receive the most accurate, real-time real estate investment data possible, something not yet available at a national scale.

“Typically, nation-wide syndicated data is 24 to 72 hours old, so customers aren’t receiving the most accurate data,” says CEO and Founder of Revestor, Bill Lyons. “With Revestor’s focus on San Diego, the market will get the most relevant data in real-time.”

Lyons’ goal is to walk clients through the investment process from A-Z, which is why targeting San Diego allows Revestor to work synergistically with its sister companies to provide a full-service solution to local real estate agents and investors. Customers will have access to Revestor’s search platform, real estate representation with Lyons Realty, and financing with Griffin Funding. Previously, first-time investors were not being served after leaving the Revestor platform. Now, with the San Diego focus, customers will be guided through the entire process of acquiring the properties with Lyons Realty and Griffin Funding.

Users outside of San Diego will now have access to the newly-launched interactive investment calculator. The free calculator is now accessible for all real estate agents and investors regardless of geographic location, to run calculations on any property, rather than only the ones listed on Revestor.com. When using the interactive calculator outside of the San Diego market, it contains the same data points Revestor offers within San Diego, but rather than aggregating directly from listings, customers will now enter the listing’s information in order to calculate the key investment indicators.

Realtors and real estate agents looking to advertise and grow their businesses will continue to be served by Revestor’s ad platform, Home Point Media, which offers hyper-targeted digital farming campaigns by matching the physical addresses within the agent’s farm area to the IP address of potential listings.

In the future, Revestor plans to expand to more cities across the U.S., offering its full-service solution outside of San Diego. In the meantime, real estate agents and investors can use its interactive investment calculator for more efficient investment calculations. Revestor’s short-term goal is to ensure everything is working perfectly with better data before rolling it out nationwide. The company plans on gradually scaling to more cities, while maintaining its exceptional service to customers in San Diego.

About Revestor

Revestor is a real estate search engine that helps homebuyers, investors, and real estate professionals determine the best option for investment. The platform instantly aggregates critical data points that ensure sound investment with the click of a button. Users can search active listings now in San Diego for long-term and short-term rentals to automatically calculate cap rate, cash flow, cash-on-cash return, and return on investment with the ability to adjust the default settings to reflect personal investment criteria. Revestor helps answer the question “should I invest?” with ease. To see Revestor and its new investment calculator in action, visit http://www.revestor.com.

Fortress to Acquire Colony American Finance, LLC

Fortress to Acquire Colony American Finance, LLC

NEW YORK,/July 18, 2017 (StlRealEstate.News) — Colony American Finance, LLC (“CAF”) today announced that certain funds (“Fortress Funds”) managed by affiliates of Fortress Investment Group LLC (NYSE: FIG) have purchased the equity and substantially all of the assets of CAF. Terms of the transactions were not disclosed.

Simultaneously with the purchase, Fortress Funds will rebrand the CAF operating platform under the name CoreVest American Finance Lender LLC (“CoreVest”). CAF was launched in 2014 to address the unique financing needs of residential real estate investors and has successfully grown into the market leader, having closed over $2.8 billion in loans since its inception. The Fortress Funds will be joined by the current senior management team of CAF in launching CoreVest. The senior management team will remain with the company and retain their current titles.

Beth O’Brien, Chief Executive Officer of CAF who is now CEO of CoreVest, said, “We are excited to bring the same team and the same approach to the market under the CoreVest brand. Our customers will continue to work with our people and experience our high level of service, while also benefiting from the strategic capital brought by the Fortress Funds.”

“We see terrific synergies between CoreVest and Fortress,” added Christopher Hoeffel, Chief Financial Officer of CoreVest. “The new relationship with the Fortress Funds, given their experience in the specialty finance area, will allow us to expand our market leading position in the growing, yet underserved, single-family rental finance market.”

Ryan McBride, Chief Operating Officer of CoreVest, noted, “We believe our opportunity for growth is especially strong given the demographic tailwinds for housing in the U.S. This transaction will enable us to provide scalable debt capital and innovative financing products to our investor clients.”

Freeman and Co. and Latham & Watkins LLP advised affiliates of Colony NorthStar managed funds, Sidley Austin LLP advised the Fortress Funds and Dechert LLP advised the management team.

About CoreVest American Finance Lender LLC
CoreVest is a specialty finance company that provides a range of debt products to residential real estate investors. The company offers portfolio and single-asset term loans for stabilized rental properties as well as short-term credit lines for acquisitions. Founded in 2014 as Colony American Finance, the Company has financed over 20,000 properties and closed over $2.8 billion in loans. Its products are tailor-made for investors and it provides attractive rates, rapid timelines and closing certainty. The company works directly with borrowers as well as with brokers and correspondent partners. For more information, visit www.corevestfinance.com.

SOURCE: CoreVest American Finance Lender LLC

Dream Design Property Highlights 5 Reasons Why Most People Fail at Property Investment

Dream Design Property Highlights 5 Reasons Why Most People Fail at Property Investment

SYDNEY/ July 13, 2017 (StlRealEstate.News) — Zaki Ameer, real estate expert and Founder of Dream Design Property (DDP) says, “Although any asset is an achievement in itself, success to most property investors is really determined by their ability to continue purchasing real estate. Unfortunately, so many Americans save for their entire working lives to be able to afford an investment property, but very often once they achieve this, their progress remains stagnant because they aren’t sure of what to do next.”

There are currently over 28.1 million property investors in USA [1], and although this number may seem significant, statistics reveal that the majority struggle to maintain or grow their success after initially entering the housing market.

“Through building my own portfolio, and having helped DDP clients purchase over 1,000 properties, I’ve learned that continuing to succeed at property investment has absolutely nothing to do with luck. Instead, it is influenced largely by one’s mindset,” Mr. Ameer adds.

To highlight the importance of an investor’s mentality, Zaki shares the five most common attitudes that cause people to ultimately fail at property investment:

*Being selfish. When a person is investing such a large amount of money it’s natural for them to want it to be something that they consider ‘perfect.’ When it comes to real estate, however, rather than purchasing a property based on personal preferences, it’s crucial to prioritise the wants and needs of the target tenant. If an investor puts themselves first they not only decrease the pool of prospective tenants, but they also risk making emotionally-charged decisions.

*Impatience. When it comes to property investment, patience is definitely a virtue. Real estate is a long-term commitment, and a common example of an investor failing to reach their target financial outcome is when they lack patience and flip the property for a short-term gain. In order to increase capital growth, and guarantee rental advances, a property needs to be held for at least 7 years.

*Not taking responsibility. Often there are numerous parties involved in purchasing an investment property, and a common mistake among failed investors is to blame others for issues that occur. Although certain tasks may be managed by particular people, the responsibility of the property ultimately lies with the investor. If something goes wrong it is crucial to take accountability and work to rectify the situation rather than passing the blame.

*Hesitating. Countless investors experience ‘analysis-paralysis’ and overly scrutinise any potential purchase to ensure the property is perfect. Although it’s always important to make an informed decision, if an investor has done their due diligence and is comfortable with the return, it’s important to buy without too much hesitation to avoid missing out.

*Doing it alone. In order to cut costs, many investors attempt to find, purchase, and manage a property alone. Although this is possible, for most, it results in failure or having to spend more in the long-run to rectify problems that arise. To guarantee success it’s important to enlist the help of professionals who can ensure the entire process runs smoothly and with the investor’s best interests in mind.

Mr. Ameer adds, “Many people avoid investing in property out of fear of failing.  However with the American real estate prices historically doubling every 7 – 10 years, with the right mindset it can be extremely profitable.”
Dream Design Property (DDP) is a unique wealth creation mentoring program that is designed to help Australians gain financial freedom, offering each client an ongoing personalised service catering to their changing circumstances and needs. DDP has helped purchase over 1,000 properties for its clients.

SOURCE: Dream Design Property