I will be submitting an additional article regarding cap rates and GRM( Gross Rent Multipliers). These are often the first things investors look at when considering an investment in commercial property. Part of the problem is that many brokers and agents are not sure how to compute these numbers and often post Cap rates and GRM's that are incorrect. Be sure to do your homework and determine on your own what the correct numbers are. As an example, my company is about to close escrow on a 5 unit building. It was listed as a 3 cap. In reality, once you factored in everything: market rents due to the 2 vacanies, rent increase, etc, the building was a 7 cap. I will take that anyday of the week. Plus I paid undermarket because the building was advertised as a "3" cap. Just do your homework. There are plenty of deals out there to choose from. Be picky and find the right one!
Thanks for reading.
Justin Paperny
www.justinpaperny.com
818-424-2220
Monday, June 11, 2007
Justin Paperny/Sam Pompeo and Interest Rates
Interest rates. Please be on the lookout for my next article regarding this issue. With little economic news on the horizon and stock market continuing to roll, it is unlikely that rates will pull back any time soon. I will be posting my article soon with news you will not want to miss!Thanks,Justin Paperny
Monday, May 21, 2007
NoHo- North Hollywood
Jeff,
Thanks for your call. There are 5 units in this building. 4 units in front with a house in the back. Hope this helps.
Thanks,
Justin P
Thanks for your call. There are 5 units in this building. 4 units in front with a house in the back. Hope this helps.
Thanks,
Justin P
Casa Luna Apartments announces successful reposition
Casa Luna Apartments, Justin Paperny and Sam Pompeo are proud to announce the successful reposition of “Casa Luna” located at 14639 Calvert Street in Van Nuys, CA. Justin Paperny and Sam Pompeo specialize in the acquisitions, improvements, rehabilitation, and operations of multi-residential properties throughout Southern California and in particular the San Fernando Valley.
Casa Luna Apartments, LLC was originally purchased in mid 2005. Justin and Sam as the general partners felt there was significant upside for their investors in investing in an area that was continuing to improve, as a result of the millions being spent in new construction in the surrounding area, along with the convenience of the new bus system located just a couple of blocks from the property.
Prior to acquisition 14639 Calvert St. was a ten unit apartment building that had been boarded, barred and fenced up for several years. The renovation plan, which took nearly two years to complete, was to completely remodel the building and make it a viable and create affordabel housing option for families in the Van Nuys community. It is with great pride that Casa Luna Apartments was able to achieve their primary objective of providing affordable housing for the local community, while also benefiting and creating profits for investors of Casa Luna Apartments, LLC.
Please contact Justin Paperny at 818-424-2220 or Samuel Pompeo at 818-601-1801 for additional information about this project or for information about their upcoming project in the up and coming NoHo Arts District in North Hollywood, CA. You can also visit their websites at www.justinpaperny.com or www.sam.pompeo.com
Casa Luna Apartments, Justin Paperny and Sam Pompeo are proud to announce the successful reposition of “Casa Luna” located at 14639 Calvert Street in Van Nuys, CA. Justin Paperny and Sam Pompeo specialize in the acquisitions, improvements, rehabilitation, and operations of multi-residential properties throughout Southern California and in particular the San Fernando Valley.
Casa Luna Apartments, LLC was originally purchased in mid 2005. Justin and Sam as the general partners felt there was significant upside for their investors in investing in an area that was continuing to improve, as a result of the millions being spent in new construction in the surrounding area, along with the convenience of the new bus system located just a couple of blocks from the property.
Prior to acquisition 14639 Calvert St. was a ten unit apartment building that had been boarded, barred and fenced up for several years. The renovation plan, which took nearly two years to complete, was to completely remodel the building and make it a viable and create affordabel housing option for families in the Van Nuys community. It is with great pride that Casa Luna Apartments was able to achieve their primary objective of providing affordable housing for the local community, while also benefiting and creating profits for investors of Casa Luna Apartments, LLC.
Please contact Justin Paperny at 818-424-2220 or Samuel Pompeo at 818-601-1801 for additional information about this project or for information about their upcoming project in the up and coming NoHo Arts District in North Hollywood, CA. You can also visit their websites at www.justinpaperny.com or www.sam.pompeo.com
Justin Paperny and Casa Luna
Casa Luna Apartments announces successful reposition
Casa Luna Apartments, Justin Paperny and Sam Pompeo are proud to announce the successful reposition of “Casa Luna” located at 14639 Calvert Street in Van Nuys, CA. Justin Paperny and Sam Pompeo specialize in the acquisitions, improvements, rehabilitation, and operations of multi-residential properties throughout Southern California and in particular the San Fernando Valley.
Casa Luna Apartments, LLC was originally purchased in mid 2005. Justin and Sam as the general partners felt there was significant upside for their investors in investing in an area that was continuing to improve, as a result of the millions being spent in new construction in the surrounding area, along with the convenience of the new bus system located just a couple of blocks from the property.
Prior to acquisition 14639 Calvert St. was a ten unit apartment building that had been boarded, barred and fenced up for several years. The renovation plan, which took nearly two years to complete, was to completely remodel the building and make it a viable and create affordabel housing option for families in the Van Nuys community. It is with great pride that Casa Luna Apartments was able to achieve their primary objective of providing affordable housing for the local community, while also benefiting and creating profits for investors of Casa Luna Apartments, LLC.
Please contact Justin Paperny at 818-424-2220 or Samuel Pompeo at 818-601-1801 for additional information about this project or for information about their upcoming project in the up and coming NoHo Arts District in North Hollywood, CA. You can also visit their websites at www.justinpaperny.com or www.sam.pompeo.com
Casa Luna Apartments, Justin Paperny and Sam Pompeo are proud to announce the successful reposition of “Casa Luna” located at 14639 Calvert Street in Van Nuys, CA. Justin Paperny and Sam Pompeo specialize in the acquisitions, improvements, rehabilitation, and operations of multi-residential properties throughout Southern California and in particular the San Fernando Valley.
Casa Luna Apartments, LLC was originally purchased in mid 2005. Justin and Sam as the general partners felt there was significant upside for their investors in investing in an area that was continuing to improve, as a result of the millions being spent in new construction in the surrounding area, along with the convenience of the new bus system located just a couple of blocks from the property.
Prior to acquisition 14639 Calvert St. was a ten unit apartment building that had been boarded, barred and fenced up for several years. The renovation plan, which took nearly two years to complete, was to completely remodel the building and make it a viable and create affordabel housing option for families in the Van Nuys community. It is with great pride that Casa Luna Apartments was able to achieve their primary objective of providing affordable housing for the local community, while also benefiting and creating profits for investors of Casa Luna Apartments, LLC.
Please contact Justin Paperny at 818-424-2220 or Samuel Pompeo at 818-601-1801 for additional information about this project or for information about their upcoming project in the up and coming NoHo Arts District in North Hollywood, CA. You can also visit their websites at www.justinpaperny.com or www.sam.pompeo.com
Justin Paperny's advise for selling your home
Justin PapernyEwing & Associates Sotheby’s International Realty (818) 657-4430justin.paperny@sothebysrealty.com
Estate Agent, Justin Paperny Offers Advice On Selling Your Home
Calabasas, CA (May 21, 2007), Buying and selling a home can be the most significant financial decision of a person’s life. This is true more than ever, as investors are overwhelmed with information regarding the current state of California’s real estate market. There is no doubt the market has changed, and sellers have been forced to adjust to this correction or deal with the real possibility of their home not selling.
As an Estate Agent, Justin Paperny is often called upon by family, friends and longtime clients to guide them in making wise decisions regarding the best way to sell their home in this ever changing real estate market.
Below Justin has identified and outlined seven mistakes that a seller DOES not want to make when selling their home. Of course, these are just a few examples, and Justin encourages you to speak to him or another qualified real estate agent or broker prior to selling your home. It is important to interview several experts prior to selling your home. Only select and hire the one that you believe is best aligned with your goals and objectives.
Mistake #1 -- Pricing Your Property Too High Every seller obviously wants to get the most money for his or her product. Ironically, the best way to do this is NOT to list your product at an excessively high price! A high listing price will causesome prospective buyers to lose interest before even seeing your property. Also, it may lead other buyers to expect more than what you have to offer. As a result, overpriced properties tend to take an unusually long time to sell, and they end up being sold at a lower price. Mistake #2 -- Mistaking Re-finance Appraisals for the Market Value Unfortunately, a re-finance appraisal may have been stated at an untruthfully high price. Often, lenders estimate the value of your property to be higher than it actually is in order to encourage re-financing. The market value of your home could actually be lower. Your best bet is to ask your REALTOR® for the most recent information regarding property sales in your community. This will give you an up-to-date and factually accurate estimate of your property value. Mistake #3 -- Forgetting to "Showcase Your Home" In spite of how frequently this mistake is addressed and how simple it is to avoid, its prevalence is still widespread. When attempting to sell your home to prospective buyers, do not forget to make your home look as pleasant as possible. Make necessary repairs. Clean. Make sure everything functions and looks presentable. A poorly kept home in need of repairs will surely lower the selling price of your property and will even turn away some buyers. Mistake #4 -- Trying to "Hard Sell" While Showing Buying a house is always an emotional and difficult decision. As a result, you should try to allow prospective buyers to comfortably examine your property. Don't try haggling or forcefully selling. Instead, be friendly and hospitable. A good idea would be to point out any subtle amenities and be receptive to questions. Mistake #5 -- Trying to Sell to "Looky-Loos" A prospective buyer who shows interest because of a "for sale" sign he saw may not really be interested in your property. Often buyers who do not come through a REALTOR® are a good 6-9 months away from buying, and they are more interested in seeing what is out there than in actually making a purchase. They may still have to sell their house, or may not be able to afford a house yet. They may still even be unsure as to whether or not they want to relocate. Your REALTOR® should be able to distinguish realistic potential buyers from mere lookers. REALTOR®s should usually find out a prospective buyer's savings, credit rating, and purchasing power in general. If your REALTOR® fails to find out this pertinent information, you should do some investigating and questioning on your own. This will help you avoid wasting valuable time marketing towards the wrong people. If you have to do this work yourself, consider finding a new REALTOR®. Mistake #6 -- Not Knowing Your Rights & ResponsibilitiesIt is extremely important that you are well-informed of the details in your real estate contract. Real estate contracts are legally binding documents, and they can often be complex and confusing. Not being aware of the terms in your contract could cost you thousands for repairs and inspections. Know what you are responsible for before signing the contract. Can the property be sold "as is"? How will deed restrictions and local zoning laws affect your transaction? Not knowing the answers to these kinds of questions could end up costing you a considerable amount of money. Mistake #7 -- Limiting the Marketing and Advertising of the Property Your REALTOR® should employ a wide variety of marketing techniques. Your REALTOR® should also be committed to selling your property; he or she should be available for every phone call from a prospective buyer. Most calls are received, and open houses are scheduled, during business hours, so make sure that your REALTOR® is working on selling your home during these hours. Chances are that you have a job, too, so you may not be able to get in touch with many potential buyers.
In closing, selling your home can be very stressful, but can also be educational and fun, if done well. It is very important that you do your homework prior to selling your home. In this tough climate, it is crucial to put yourself in the best possible position to succeed.
If you would like more information on selling your home Justin Paperny can be reached at 818-424-2220. You can also visit his websites at www.justinpaperny.com or www.justinmpaperny.com
Estate Agent, Justin Paperny Offers Advice On Selling Your Home
Calabasas, CA (May 21, 2007), Buying and selling a home can be the most significant financial decision of a person’s life. This is true more than ever, as investors are overwhelmed with information regarding the current state of California’s real estate market. There is no doubt the market has changed, and sellers have been forced to adjust to this correction or deal with the real possibility of their home not selling.
As an Estate Agent, Justin Paperny is often called upon by family, friends and longtime clients to guide them in making wise decisions regarding the best way to sell their home in this ever changing real estate market.
Below Justin has identified and outlined seven mistakes that a seller DOES not want to make when selling their home. Of course, these are just a few examples, and Justin encourages you to speak to him or another qualified real estate agent or broker prior to selling your home. It is important to interview several experts prior to selling your home. Only select and hire the one that you believe is best aligned with your goals and objectives.
Mistake #1 -- Pricing Your Property Too High Every seller obviously wants to get the most money for his or her product. Ironically, the best way to do this is NOT to list your product at an excessively high price! A high listing price will causesome prospective buyers to lose interest before even seeing your property. Also, it may lead other buyers to expect more than what you have to offer. As a result, overpriced properties tend to take an unusually long time to sell, and they end up being sold at a lower price. Mistake #2 -- Mistaking Re-finance Appraisals for the Market Value Unfortunately, a re-finance appraisal may have been stated at an untruthfully high price. Often, lenders estimate the value of your property to be higher than it actually is in order to encourage re-financing. The market value of your home could actually be lower. Your best bet is to ask your REALTOR® for the most recent information regarding property sales in your community. This will give you an up-to-date and factually accurate estimate of your property value. Mistake #3 -- Forgetting to "Showcase Your Home" In spite of how frequently this mistake is addressed and how simple it is to avoid, its prevalence is still widespread. When attempting to sell your home to prospective buyers, do not forget to make your home look as pleasant as possible. Make necessary repairs. Clean. Make sure everything functions and looks presentable. A poorly kept home in need of repairs will surely lower the selling price of your property and will even turn away some buyers. Mistake #4 -- Trying to "Hard Sell" While Showing Buying a house is always an emotional and difficult decision. As a result, you should try to allow prospective buyers to comfortably examine your property. Don't try haggling or forcefully selling. Instead, be friendly and hospitable. A good idea would be to point out any subtle amenities and be receptive to questions. Mistake #5 -- Trying to Sell to "Looky-Loos" A prospective buyer who shows interest because of a "for sale" sign he saw may not really be interested in your property. Often buyers who do not come through a REALTOR® are a good 6-9 months away from buying, and they are more interested in seeing what is out there than in actually making a purchase. They may still have to sell their house, or may not be able to afford a house yet. They may still even be unsure as to whether or not they want to relocate. Your REALTOR® should be able to distinguish realistic potential buyers from mere lookers. REALTOR®s should usually find out a prospective buyer's savings, credit rating, and purchasing power in general. If your REALTOR® fails to find out this pertinent information, you should do some investigating and questioning on your own. This will help you avoid wasting valuable time marketing towards the wrong people. If you have to do this work yourself, consider finding a new REALTOR®. Mistake #6 -- Not Knowing Your Rights & ResponsibilitiesIt is extremely important that you are well-informed of the details in your real estate contract. Real estate contracts are legally binding documents, and they can often be complex and confusing. Not being aware of the terms in your contract could cost you thousands for repairs and inspections. Know what you are responsible for before signing the contract. Can the property be sold "as is"? How will deed restrictions and local zoning laws affect your transaction? Not knowing the answers to these kinds of questions could end up costing you a considerable amount of money. Mistake #7 -- Limiting the Marketing and Advertising of the Property Your REALTOR® should employ a wide variety of marketing techniques. Your REALTOR® should also be committed to selling your property; he or she should be available for every phone call from a prospective buyer. Most calls are received, and open houses are scheduled, during business hours, so make sure that your REALTOR® is working on selling your home during these hours. Chances are that you have a job, too, so you may not be able to get in touch with many potential buyers.
In closing, selling your home can be very stressful, but can also be educational and fun, if done well. It is very important that you do your homework prior to selling your home. In this tough climate, it is crucial to put yourself in the best possible position to succeed.
If you would like more information on selling your home Justin Paperny can be reached at 818-424-2220. You can also visit his websites at www.justinpaperny.com or www.justinmpaperny.com
Sunday, April 29, 2007
Tenant Relocation
Hello,
I would like to thank everyone for their recent feedback regarding my first article. My second article regarding tenant location is due this week.
In addition, I will be posting information on three open houses next Sunday in the San Fernando Valley. The times are between 2-5 pm. You can see all homes and listing at www.justinpaperny.com or www.sampompeo.com
I look forward to reading your upcoming comments and thanks again for checking in!
Justin
I would like to thank everyone for their recent feedback regarding my first article. My second article regarding tenant location is due this week.
In addition, I will be posting information on three open houses next Sunday in the San Fernando Valley. The times are between 2-5 pm. You can see all homes and listing at www.justinpaperny.com or www.sampompeo.com
I look forward to reading your upcoming comments and thanks again for checking in!
Justin
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