Fairstead’s Post

BlockChange Louisville had a minor setback as one of our properties in West Louisville fell out of contract due to an appraisal short fall. We are disappointed for the first-time home buyer whose home ownership journey just got deterred. It is frustrating to see the linger effects of redlining continue to hinder redevelopment in West Louisville. We are trying to promote home ownership one property at a time with intentional community-based redevelopment plans. I plead with Louisville Metro Government to get serious about the blighted properties in West Louisville which are holding back community redevelopment. Craig Greenberg and Pat Mulloy this problem is not going to solve itself without some real energy and emphasis on the vacant and abandoned homes issue. It is nice to see affordable housing projects get funded but West Louisville also needs Home Ownership which will spur additional investment in the community. The time to act is now. I plan to spotlight this issue until there is meaningful action by City officials. I welcome others to support this effort. #BlockchangeLouisville #WestLousiville #Community #Homeownership

Sharestates recently funded this Multifamily property in the Bronx, NY. The Bronx has a fascinating history and an appeal that resonates with both residents and visitors alike. Originally settled in the 17th century, the Bronx has evolved into a vibrant borough of New York City with a rich cultural heritage. Its real estate offerings encompass a wide spectrum, from picturesque single-family homes in Riverdale and Pelham Bay to modern apartments and lofts in emerging neighborhoods like Mott Haven and Port Morris. The Bronx's appeal lies in its diverse communities, each with its own unique character and traditions, creating a tapestry of cultures that enriches the borough's identity. The Bronx is renowned for its cultural institutions, such as the Bronx Museum, celebrating its contributions to art and music. The borough's extensive park system, including the iconic Bronx Zoo and the New York Botanical Garden, provides residents with a connection to nature and recreational opportunities. Moreover, the Bronx's convenient location and public transportation options offer easy access to Manhattan and other parts of the city. With its deep-rooted history, diverse culture, and ongoing revitalization efforts, the Bronx's real estate market presents an inviting opportunity for those looking to be part of a thriving and evolving borough in the heart of New York City. Need DSCR financing? Click Here: https://okt.to/KmwDNr #mortgagebroker #bridgeloans #brrrr #rentalloans #dscr #buyrealestate #capitalinvestment #constructionlending #rehabinvestor #investmentproperty #tablefunding #privatemoneyloans #hardmoney

Sharestates recently funded this Multifamily property in the Bronx, NY. The Bronx has a fascinating history and an appeal that resonates with both residents and visitors alike. Originally settled in the 17th century, the Bronx has evolved into a vibrant borough of New York City with a rich cultural heritage. Its real estate offerings encompass a wide spectrum, from picturesque single-family homes in Riverdale and Pelham Bay to modern apartments and lofts in emerging neighborhoods like Mott Haven and Port Morris. The Bronx's appeal lies in its diverse communities, each with its own unique character and traditions, creating a tapestry of cultures that enriches the borough's identity. The Bronx is renowned for its cultural institutions, such as the Bronx Museum, celebrating its contributions to art and music. The borough's extensive park system, including the iconic Bronx Zoo and the New York Botanical Garden, provides residents with a connection to nature and recreational opportunities. Moreover, the Bronx's convenient location and public transportation options offer easy access to Manhattan and other parts of the city. With its deep-rooted history, diverse culture, and ongoing revitalization efforts, the Bronx's real estate market presents an inviting opportunity for those looking to be part of a thriving and evolving borough in the heart of New York City. Need DSCR financing? Click Here: https://okt.to/BitTRE #mortgagebroker #bridgeloans #brrrr #rentalloans #dscr #buyrealestate #capitalinvestment #constructionlending #rehabinvestor #investmentproperty #tablefunding #privatemoneyloans #hardmoney

Sharestates recently funded this Multifamily property in the Bronx, NY. The Bronx has a fascinating history and an appeal that resonates with both residents and visitors alike. Originally settled in the 17th century, the Bronx has evolved into a vibrant borough of New York City with a rich cultural heritage. Its real estate offerings encompass a wide spectrum, from picturesque single-family homes in Riverdale and Pelham Bay to modern apartments and lofts in emerging neighborhoods like Mott Haven and Port Morris. The Bronx's appeal lies in its diverse communities, each with its own unique character and traditions, creating a tapestry of cultures that enriches the borough's identity. The Bronx is renowned for its cultural institutions, such as the Bronx Museum, celebrating its contributions to art and music. The borough's extensive park system, including the iconic Bronx Zoo and the New York Botanical Garden, provides residents with a connection to nature and recreational opportunities. Moreover, the Bronx's convenient location and public transportation options offer easy access to Manhattan and other parts of the city. With its deep-rooted history, diverse culture, and ongoing revitalization efforts, the Bronx's real estate market presents an inviting opportunity for those looking to be part of a thriving and evolving borough in the heart of New York City. Need DSCR financing? Click Here: https://okt.to/Y0tmqg #mortgagebroker #bridgeloans #brrrr #rentalloans #dscr #buyrealestate #capitalinvestment #constructionlending #rehabinvestor #investmentproperty #tablefunding #privatemoneyloans #hardmoney

Westside Future Fund's work to transform the historic Westside is well underway. Once plagued by remnants of urban decay set in motion by a mass residential exodus in the latter half of the 20th century due to systemic disinvestment in the community, we've revitalized entire blocks through the construction of high-quality, affordable housing and blight removal. But we continue to face tremendous challenges from absentee landlords who won’t reinvest in their uninhabitable dwellings, nor sell them for a reasonable price. Learn more in Atlanta Business Chronicle's Westside Market Report: https://lnkd.in/exs44_qZ

We are pleased to announce the recent sale of two contiguous multifamily buildings located on East 105th Street in East Harlem. The properties were sold for $4.8 million. The transaction metrics included $391 per square foot, $300,000 per unit, a cap rate of 7.1%, and a gross rent multiplier of 11x. The sale included a seller-financed portion through a promissory note. The properties feature fourteen free market units and two rent-stabilized units.   In the current market, maintaining transparent and compliant documentation is crucial, especially concerning the deregulation of units following the Housing Stability and Tenant Protection Act of 2019. Our team is dedicated to conducting detailed reviews of Department of Housing and Community Renewal (DHCR) records, leases, and individual apartment improvements (IAIs) and major capital improvements (MCIs) to ensure that rents are reconciled accurately before we initiate marketing. This meticulous preparation facilitates a smooth transaction process for all involved parties.   For more updates on market insights and successful transactions, stay connected with Invictus Property Advisors.   #RealEstateInvestment #EastHarlem #MultifamilyProperty #invictusnyc

Curious about the recent housing market in Atlanta? Take a look at these July market stats from Buckhead and Brookhaven 💥⁠ Let's talk about your next move. ⁠ 159 E Wesley Road NE Offered for $2,600,000 Listed by Karen Lindsey with HomeSmart ⁠ #WendyWerks #AnsleyRealEstate #AtlantaRealEstate #BuckheadRealEstate #BrookhavenRealEstate

Here are a few details on Springfield. However, Nixa still has the highest demand with the highest rent. Republic is second. https://lnkd.in/gWVjVDtq #hunterpropertymanagement #leasespringfield #springfieldpropertymanagement #propertymanagement101 #landlordtips #propertymanager #missourirealestate

COULD THIS HAPPEN IN LONG BEACH, CALIFORNIA or YOUR STATE ONE DAY??? The Brooklyn landlord everyone hates could soon come to your neighborhood. Tenants warn these private equity groups are raising rent and ignoring maintenance issues. Private equity firms have bought up hundreds of smaller apartment buildings in trendy New York neighborhoods. Tenants, mostly in Brooklyn, are complaining about sharp rent increases and maintenance issues.  Institutional investors are a very small, but growing, slice of total home buyers.  Private equity firms have spent hundreds of millions of dollars over the last few years buying up smaller apartment buildings in gentrifying — or already gentrified — neighborhoods in Brooklyn and Queens.  One such firm, the Carlyle Group, has purchased more than 150 apartment buildings, largely in the trendy Bushwick and Bedford-Stuyvesant neighborhoods in Brooklyn, since 2020, The New York Times reported. Other private equity-backed real estate investment companies, including Conway Capital and Peak Capital Advisors, have bought up a similar number of buildings in the Brooklyn neighborhoods of Bushwick, Bed-Stuy, and Williamsburg, and in Ridgewood, Queens. But it's difficult to determine exactly how many buildings in the city are owned by private equity, as rental properties are often purchased by landlords of all types and sizes through shell companies. Dozens of tenants in these buildings are concerned with sharp rent increases and slow response to maintenance issues they've experienced, the Times reported. Smaller buildings in Brooklyn are particularly attractive to private equity firms because their apartments are in high demand in a very hot housing market, and they often have limits on property taxes and aren't rent stabilized, according to the Times. Private equity firms own a very small, but growing, fraction of American real estate. Institutional investors bought just three percent of homes sold in 2021, up from about one percent in previous years. Some argue that private equity, hedge funds, and other institutional investors are a convenient target and are being unfairly blamed for the nation's worsening housing affordability crisis. The recent increase in private equity purchases, particularly of single-family homes, has drawn scrutiny, including from Congress, over the last few years. #rent #renters #tenants #neighborhoods #affordablehousing #apartments #apartment #housing #housingcrisis #family #families #housing #congress

Our President, Sam Leone, has been featured in South Jersey Biz’s “Who’s Who in Commercial Real Estate” for 2023! This year’s list highlights dedicated professionals who have navigated the challenging changes in the real estate market. Sam understands the immense need for more affordable housing and is determined to overcome the obstacles. Sam is quoted saying, “The way that we approach multifamily development has changed a lot. The typical financing structure we used when I started nearly two decades ago allowed us to develop 100-plus multi-family homes in each community. Now, that same approach only yields 45-50 homes. So, we’ve migrated to new forms of capital and financing structure to allow us to develop larger communities with the economy of scale that permits us to operate more efficiently while still delivering great service to our residents.” Identifying the real estate market changes has allowed Sam and Conifer to adjust accordingly and find new solutions for more affordable housing. #AffordableHousing