Login | Join Our FREE VIP Investor Group

REALTY411Guide.com

Serving the Real Estate Industry Since 2007

real estate investor

Poplar Homes Expands to Arizona with Acquisition of Venture REI’s SFR Property Management Business

By

Acquisition adds more than 150 homes to Poplar’s growing management portfolio, marks company’s entry into Arizona

CUPERTINO, Calif., — Poplar Homes, the tech-enabled property management company changing the way independent single-family rental investors and multifamily owners manage their rental properties, today announced it has acquired Venture REI’s single-family for rent property management portfolio. The acquisition marks Poplar’s entry into Arizona and adds 152 homes in Scottsdale to the company’s property management portfolio as part of its national expansion.

Venture REI’s short-term rental and investment client property management portfolios were not part of the transaction, and these properties will continue to be managed by Venture REI. Terms of the transaction were not disclosed.

ADVERTISEMENT

Over the past two years, Poplar has significantly expanded its doors under management through 16 strategic acquisitions. “We’re thrilled to be entering the Phoenix market, which is home to some of the largest single-family for rent operators in the country. The combination of Poplar’s model, which leverages technology with experienced on-the-ground property management teams, and Venture’s local expertise levels the playing field for the mom-and-pop investors competing with large institutional investors,” Poplar Co-Founder and CEO Greg Toschi said. “The slowing rental market is a great opportunity to demonstrate the power of Poplar’s model. In addition to having the data and operating leverage needed to properly price and market properties, our clients have the assurance of Poplar’s rent guarantee and eviction protection as well as the benefit of unique renter offerings that allow them to differentiate their properties in a competitive market.”

The acquisition is the latest in a series for Poplar, which serves individual property owners who control two-thirds of the $85 billion single-family rental market, owners of small multifamily properties and individuals looking for a better way to rent while pursuing their dream of homeownership.

Over the past two years, the company has significantly expanded both its doors under management and geographic presence through 16 strategic acquisitions. Poplar currently has 15,000 rental properties under management in 25 markets across 17 states and plans to expand to 20 new markets and reach 30,000 doors in 2023.

ADVERTISEMENT

“We grew our single-family rental portfolio organically and it was important that we provide our clients with a provider that offered a best-in-class experience,” said Venture REI Founder Dan Noma Jr. “Poplar shares our commitment to offering unmatched service. This, combined with its tech-forward industry-leading platform, offered the best fit for our team and our clients.”

Lindsay Shoenfeld joins from Venture REI to serve as Poplar’s property manager in Arizona. Poplar combines its proprietary tech-enabled property management platform with the expertise of local property management teams to provide individual property investors with access to the tools and services typically only available to large institutional investors. In addition to being able to track the performance of their investment properties in real time, Poplar clients have the benefit of their properties being managed by local property management professionals as well as guaranteed rent and eviction protection.

For renters, Poplar provides the ability to tour, get approved and rent properties online. They also have access to Poplar’s troubleshooting platform, which resolves two-thirds of maintenance issues remotely as well as local property management teams. In keeping with the company’s mission to partner with customers through every step of their real estate journey, Poplar’s StreetCred program is designed to help renters achieve their homeownership goals.

Learn live and in real-time with Realty411. Be sure to register for our next virtual and in-person events. For all the details, please visit Realty411Expo.com or our Eventbrite landing page, CLICK HERE.

Madison Ventures+ Launches Investment Platform to Invest In Affordable Manufactured Housing Communities

By

M2 Communities will focus on improving existing manufactured housing communities in high-net migration locations across the Southern United States.

WEST PALM BEACH, Fla., May 30, 2023 — Madison Ventures+ (“MV+”), a private/venture equity boutique that combines capital investment with hands-on collaboration, announced today the launch of M2 Communities (“M2C”), a new MV+ investment platform designed to help combat the affordable housing crisis in key high-growth markets, while capitalizing on the investment potential of Manufactured Housing Communities (“MHC”), the most stable real estate asset class. M2C will focus its acquisition efforts in high-net migration markets in the Southeastern quadrant of the United States.

“Despite the country’s need for more affordable housing, and MHC’s status as the most affordable form of non-government subsidized housing, manufactured housing has been somewhat ignored by many sophisticated real estate investors,” said Bryan Gordon, Chairman and CEO of MV+ and M2C. “In fact, there have only been about 10 new manufactured housing communities built in the past two decades, and far more than that have gone dark due to redevelopment. The reality is, there is great opportunity in manufactured housing communities, and this is precisely the type of housing investment needed today.”

ADVERTISEMENT

Manufactured housing is a home unit constructed entirely off-site at factories prior to being moved to a piece of property. The cost of construction per square foot is considerably less for manufactured housing than for traditional homes constructed onsite. Over the years, the housing option has often been derided, but advancements in technology and building materials mean today’s manufactured housing bears little resemblance to the “mobile homes” of the past.

“As an investment, MHCs have always been and remain one of the most stable, recession-resistant real estate asset classes. Basically, this real estate class has not lost any money even in past recessions,” Gordon said. “We believe that now is the absolute perfect time to reinvigorate manufactured housing communities due to a combination of factors.”

Economic challenges, a worsening housing crisis and improved building quality are combining to create the best market in decades for manufactured housing communities. Private MHCs are projected to be the top-performing real estate asset class over the next five years, according to Green Street Advisors. With a U.S. housing shortfall of more than 5.8 million homes and rental costs skyrocketing, MHCs are becoming an increasingly popular option. M2C will focus its investments in states experiencing a high number of “transplants,” with initial emphasis on Florida, Georgia, Tennessee, Alabama, North Carolina, South Carolina, Virginia, Texas and Oklahoma.

“Many people think that the affordable housing crisis only affects large urban areas, but it is truly a need everywhere,” Gordon said. “There are rapidly growing populations in these states and each is grappling with how to accommodate the influx of new residents.”

ADVERTISEMENT

San Diego-based Muskoka Capital Partners is partnering with MV+ on the new investment platform and its founder, T.K. Frantz, will serve as President and Chief Investment Officer for M2C. Focused exclusively on recession-resistant property types, Muskoka Capital Partners is embedded in the analysis of long-term demographic trends. Its leadership team has a combined 66 years of real estate and capital markets experience focused primarily on multifamily, self storage, industrial and manufactured housing community property types – the top four performing commercial real estate property types over the past 25 years.

“I cannot think of a better time than now to help renew the promise of manufactured housing communities,” Frantz said. “The affordability these communities offer, combined with the advancements in building technology and materials make them incredibly attractive. By concentrating M2C’s efforts on those areas with a high migration rate, we will be able to impact communities where it is most needed.”

Learn live and in real-time with Realty411. Be sure to register for our next virtual and in-person events. For all the details, please visit Realty411Expo.com or our Eventbrite landing page, CLICK HERE.

The Millennia Companies® Closes on $32.5 Million in Financing for the Rehabilitation of Linden Terrace in Harrisburg

By

The substantial rehabilitation will preserve 124 units of affordable housing for seniors and persons with disabilities in Harrisburg, Pennsylvania.

Cleveland, June 01, 2023 — The Millennia Companies® (Millennia) has closed on $32.5 million in financing for the acquisition and renovation of 124 units of affordable housing for seniors and persons with disabilities at Linden Terrace in Harrisburg, Pennsylvania.

The rehabilitation includes a comprehensive renovation of the 11-story, mid-rise apartment complex. Upon completion, residents will enjoy renovated one-bedroom apartments and amenities such as a community center, art activity space, library, computer lab, and fitness room.

ADVERTISEMENT

The construction scope encompasses new windows and doors, roofing, entryways, painting, building enhancements, and landscaping. Additionally, the interior units will receive significant upgrades, including new cabinetry, plumbing, electrical, drywall, and tile work, resulting in new kitchens and bathrooms, among other upgrades.

Millennia anticipates that construction will begin within the next several months and take 15 months to complete. Crews will renovate vacant units first and relocate households onsite as the construction is completed in phases. Residents pay 30 percent of their income toward rent, and rent will remain affordable well into the future as it is subsidized for at least 20 years by a renewed federal Project-Based Section 8 contract.

ADVERTISEMENT

The following partners provided financing and resources for this transaction: RedStone (lender), Hunt Capital Partners (Equity Syndicator), Pennsylvania Housing Financing Agency (Bond and Tax Credit Issuer), the United States Department of Housing and Urban Development Philadelphia office, and the City of Harrisburg.

Also engaged in this project are Cleveland Construction, Inc. (General Contractor), Dimit (Architect), Millennia Housing Development, Ltd. (developer), and Millennia Housing Management, Ltd. (manager).

“Millennia is proud to facilitate the transformation of the Linden Terrace apartment community,” says Frank T. Sinito, chief executive officer,at Millennia. “With the support of housing and finance partners, we are preserving much-needed affordable housing opportunities for residents of Harrisburg.”

Learn more:

The Millennia Companies® (Millennia), headquartered in Cleveland, Ohio, is a high-performance business enterprise with a strong sense of mission. Millennia’s portfolio includes more than 280 multifamily housing communities in 26 states. The leading development and property management firm has facilitated over 110 substantial rehabilitations, transforming communities, and preserving much-needed affordable housing opportunities for families. Learn more at www.themillenniacompanies.com.

Learn live and in real-time with Realty411. Be sure to register for our next virtual and in-person events. For all the details, please visit Realty411Expo.com or our Eventbrite landing page, CLICK HERE.

New Data Reveals the Most and Least Affordable US States for Renters

By

  • West Virginia has seen the smallest increase in rent prices over the past three years 
  • Colorado cities have seen the biggest increase in rent prices over the past three years.  
  • Iowa has seen the second smallest increase in rents prices 

Research reveals that West Virginia has seen the smallest increase in rent prices over the past three years. Colorado is the state where major metropolitan areas are the most expensive for renters as of 2023.  

Moving Companies Experts MovingFeedback analysed data from Zillow.com to reveal the US states whose major metropolitan statistical areas (MSA) have seen the lowest/highest increase in average rent prices over the past three years.   

ADVERTISEMENT

West Virginia has seen the lowest percentage rise in rent prices since 2020 of only 12%. In the first three months of 2020, the average rent price in WV was $950.54, compared to an average of $1,066.29 across January, February and March in 2023. This is a 4.5 times smaller decrease than the state with the largest increase, Colorado.   

Coming in second is Iowa with a 15% increase in rent prices in just three years. Renters in MSAs were paying on average $947.54 between January and March 2020 and are now paying $1,085.55; a $138.01 increase.  

Hawaii ranks as the state who’s major MSAs had the third smallest increase in average prices for renters. In the first three months of 2020, rent prices were $2,283.08. The state has seen a $367.05 increase in price, to an average of $2,650.13 between January and March 2023.  

In fourth position is Wyoming where renters have experienced an average 16.45% increase in prices. An increase of $173.26 can be seen in this state over the past three years.   

Louisiana places as having the fifth largest increase in rent, going from $1,108.43 in early 2020, to $1,226.59 in 2023; a 17% increase over the three-year period.   

In sixth position is North Dakota where the major MSAs’ average rent price has increased from $1,087.38 to $1,296.56, coming in just below Louisiana with a 17.67% increase.   

Coming in seventh is Minnesota with a 17.89% increase in rent prices over the past three years. Renters are now paying $1,151.26 compared to $1,357.17 in 2020.  

ADVERTISEMENT

Kansas is the state with the eighth highest increase in rent prices of 19.54%.  

In ninth position is Wisconsin where renters are paying on average $935.81; a $1,133.63 increase compared to 2020.  

Massachusetts places tenth in the rankings with a rent percentage increase over the past three years of 21.48%. 

Colorado has been named the most expensive US state for renters in its major metropolitan areas. The state has seen the biggest increase in rent prices over the past three years of 54%. In the first three months of 2020, the average rent price in MSAs in the state was $2,439.56, compared to an average of $3,757.93 across January, February and March in 2023. This is a 4.5 times larger increase than the state with the smallest increase, West Virginia.   

Learn live and in real-time with Realty411. Be sure to register for our next virtual and in-person events. For all the details, please visit Realty411Expo.com or our Eventbrite landing page, CLICK HERE.

Uncover the Dirty Truth of Taxes in Your Retirement

By

Imagine getting into your retirement only realizing your partner, Uncle Sam, is taking 40%+ of what you thought you would have to spend after decades of hard work. The result? Less time with grandkids, less time to travel with your partner and more time with deep anxiety worrying about where your cash has gone.

However, in order to prevent your future self from living in retirement full of regret, you need to unlock the 2 money myths that will help you understand the devastating effect that taxes will have on your retirement without having to be an expert.

By the end of your time with Stephanie you will uncover what the 1% know about taxes, how you can accelerate your wealth and not live of life of scarcity in your retirement

Learning objectives:

  1. Discover the 3 steps to building a taxation plan that your future self will thank you for.
  2. Uncover the devastating truth about having all of your retirement “eggs” in a 401K basket.
  3. Uncover what the wealthy do to leverage bank money to generate tax-free income without taking market risk.

Stephanie Walter

www.erbewealth.com 

Stephanie Walter is a wealth strategist, capital raiser, syndicator, author and the CEO of Erbe Wealth. She recently retired and sold her insurance agency of 16 years by following the key principles she teaches professionals to use. She teaches professional people to “unlearn” what most of us have been wired to think about money and she re-educates people to learn the secrets of the wealthy investor that can be life transforming.

Over years of working with her investors, Stephanie discovered that the very wealthy view and use money differently than the rest of us; they actively have their money working for them — sometimes in several places at the same time! They also strategically look at tax mitigation on every investment. They use leverage to accelerate their wealth and give them tax free income upon retirement.

Stephanie realized these strategies can be used by anyone, not just the rich. Her passion is teaching people these concepts on attaining lasting wealth. Stephanie’s goal is to connect her select group of investors, “her tribe”, with investment opportunities that she’s found and researched to be extremely desirable. And at the end of the day, Stephanie is looking to help her investors reach their financial goals.

Unlock the Secrets of Smart Land Investing

By

Unlock the Secrets of Smart Land Investing

Dear Investors,

Are you looking for a low-risk, low-effort way to invest that can make your money work for you? Learn the secrets to investing in land and create more wealth with Marcella Silva, former Computer Scientist and now Land Baroness.

Register for Webinar on May 31st at 5pm Pacific, https://attendee.gotowebinar.com/register/2129615915598023263

Come explore the world of Land Banking and discover the benefits of investing in land with Marcella Silva. Marcella will share her award-winning insights on why land is the best-kept secret in real estate and how it can be used as a great hedge against inflation.

You’ll learn the laws that are causing the largest land rush in history and why the right land continually rises in value. Don’t miss this exclusive opportunity to position yourself for financial freedom through Land Banking.

Register now for Marcella Silva’s presentation: Today’s Dirt Is Tomorrow’s Gold.

Please register for Today’s Dirt Is Tomorrow’s Gold on May 31, 2023 5:00 PM PDT at:
https://attendee.gotowebinar.com/register/2129615915598023263

I’ll see YOU soon!

Sincerely,
Linda with Realty411

PS: This is your chance to unlock a new world of investing. Register now to secure your seat.