Canvass Capital’s Post

JUST CLOSED! The Leeson Group has successfully completed the sale of the Orange Avenue Apartments, a value-added investment property situated in a sought-after Eastside Costa Mesa neighborhood. Constructed in two phases, 1954 and 1983, this 8-unit complex features a unique mix including a non-conforming studio, primarily single-story two-bedroom units, and three-bedroom units. The property garnered significant interest, leading to multiple offers. Ultimately, a Los Angeles-based investor seeking to expand their portfolio beyond Los Angeles County was selected as the Buyer. This acquisition was facilitated by our agents, who possess a strong understanding of the current marketplace and risk-adjusted returns specific to this strategic diversification move for the Buyer. The seller is currently involved in multiple upleg acquisitions, some of which were non-contingent and in escrow before the completion of this transaction.   For More Information Email theleesongroup@marcusmillichap.com   #theleesongroup #realestate #justclosed #costamesa #multifamilyproperty #apartments #apartmentinvesting #investments

This is one of the deals I talk to investors about the most, because this was our toughest investment. Full story below 👇 While this did end with a happy ending (we returned all investor capital and a small profit), a lot of things went wrong, and we had to work through them for years just to keep the property afloat. We purchased the property 4 years ago today, but the day before closing, the outgoing property manager put in a very problematic tenant, which was exacerbated by the fact that the property was only 24 units with no onsight payroll. By January, they had stopped paying rent, so we moved to evict, and our court date was scheduled for...March 15th (AKA the date that the courts in Mecklenburg county closed due to COVID). Things only got worse from here. In the ensuing months, crime and non-payment became prominent on the property. Even working with the police every day, we were not able to remove disruptive tenants until November 2020. With all of this going on, many of our paying tenants moved out, because they didn't want to live at such a rough property. Economic occupancy dropped below 50%. Due to the drop in revenue, we couldn't cover debt service, so Evan and I were the first people to put money into the property to keep things running. In just over two years, we ended up having four property managers. We fired the first, the second and third chose to leave, and the fourth managed it through our eventual sale. You learn a lot through experience, and we learned a lot through this property. We've taken these lessons to heart on all future acquisitions. The reason we talk about this investment frequently is because we're not trying to hide the rough spots from our investors. So if you'd like to learn more about this project or any upcoming opportunities, schedule a call today. We're always happy to talk.

🌟 Exciting Updates from AJ Horn Properties! 🌟 Since May 2024, AJ Horn Properties has been on an impressive acquisition spree, further solidifying our footprint in the real estate market. We're thrilled to share our latest milestones: 🏡 Prospect Street Package: We have acquired four distressed properties in Mount Vernon and Marion, Ohio. These properties present a fantastic investment opportunity with significant potential for value appreciation and rental income increase. With a strategic renovation plan, we're excited to unlock their full potential. 🏞 Apple Valley Homesites: Two new homesites have been added to our portfolio, promising to bring high-quality residential options to this thriving community. 🏠 Mt Vernon Homesite: Another prime homesite acquisition in Mt Vernon, reinforcing our commitment to expanding our presence in key growth areas. In addition to these acquisitions, we're proud to announce the expansion and creation of our corporate structure: 🏢 Horn Capital Investments: Established as our parent company, Horn Capital Investments spearheads strategic initiatives and capital allocation, driving our growth and success. 🔨 Shipley and Strout: As our dedicated facilitator for property construction, Shipley and Strout ensures that all AJ Horn Properties' developments are executed with excellence and efficiency. Their expertise in constructing luxury homes is a key asset in delivering top-tier residential projects. These strategic moves align with our vision of providing high-quality housing solutions and maximizing investment returns. We look forward to continuing this journey of growth and success. #RealEstate #Investments #Growth #AJHornProperties #HornCapitalInvestments #ShipleyAndStrout #PropertyDevelopment #RealEstateInvesting

After recently closing on a property, the Whitmans wanted to keep the ball rolling and keep the momentum. So, after some research, Creoteric President Jon Elliott, found another 1.49 AC parcel zoned for the same type of use at their other location. Shortly after, it was discovered that another group was also making an offer, so our team revised ours to be as competitive as possible and leveraged mutual relationships to assure the sellers that we were the group they should work with. As a result, the seller valued our aggressiveness and the feedback they received about our reputation—accepting our offer! That's what we are talking about! 👏 #RealEstateInvesting #PropertyAcquisition #RealEstateDeals #CommercialRealEstate

For many individuals, buying a new home or a piece of land does not seem all that different. The reason is that both acquisitions are considered to be property purchases. However, there are many differences that you should keep in mind when considering investing in real estate. You should be aware of all the pros and cons related to both investment possibilities. Check out the significant differences between buying land and buying a home through our blog! https://lnkd.in/eGn3mTv8 #HomeBuying #BuyingLand #ProsAndCons #InvestmentOpportunity #RealEstateInvesting

Did you know that colours play a significant role in our lives? Well, yes they do. Allow us enlighten you on the appropriate colours that would best fit different areas of your home. While you decide on which colour to paint your room next, www.proptisgh.com is just a click away, for all your property sales, rentals, and acquisitions. You can also call us on 0501302865/0501302527 for further enquiries. Proptisgh, your premium property solutions without the hassle. #ghana #colours #PropertyManagement #propertyinvestment #propertyinvestor #propertyforsale #propertybrothers #propertydevelopment #realestategoals #realestateagent #realestateinvesting #bestrealtors #bestrealtorintown#proptisgh

For many individuals, buying a new home or a piece of land does not seem all that different. The reason is that both acquisitions are considered to be property purchases. However, there are many differences that you should keep in mind when considering investing in real estate. You should be aware of all the pros and cons related to both investment possibilities. Check out the significant differences between buying land and buying a home through our blog! https://lnkd.in/eGn3mTv8 #HomeBuying #BuyingLand #ProsAndCons #InvestmentOpportunity #RealEstateInvesting

Barratt’s acquisition of Redrow: the numbers and key players: In a shock move, Barratt today announced a £2.5bn deal to buy Redrow. But what are the key numbers behind the proposed new group? And who will head it up? Here is a quick guide #construction #news

🏡🎯 Define Your Real Estate Goals with Donna Nettestad & Sons! 🎯🏡 Whether you're looking to BUY a new home for yourself, SELL your current property for a profit, or INVEST in real estate for long-term gains, knowing your goals is the first step towards success. What’s your next move in the real estate market? ✅ Buying: Find your dream home with personalized guidance. ✅ Selling: Maximize your profit with expert market insights. ✅ Investing: Build your portfolio with strategic acquisitions. Donna Nettestad & Sons "We Get Results!" 📞 (727) 726-5599 #RealEstateGoals #BuySellInvest #DonnaNettestadRealtors

Realty Income plans to acquire Spirit Realty Capital in an all-stock deal valued at $9.3 billion. This acquisition is expected to significantly boost Realty Income's position, making it the fourth-largest REIT on the S&P 500 with an enterprise value of $63 billion. The merger aims to enhance growth, diversify portfolios, and consolidate the net-lease market. It will not require external capital, and cost savings are estimated at around $50 million in general and administrative expenses. The deal would result in: - overlapping top clients/tenants - increase annual rental income ($3.8B to $4.5B) - diversify industry sectors - particularly in convenience stores and industrial properties. Spirit Realty's CEO sees this acquisition as a culmination of efforts to enhance their assets and financial standing, offering immediate value to shareholders. Once closed, Realty Income and Spirit shareholders will own 87% and 13%, respectively, of the combined entity, subject to approval from Spirit shareholders and certain closing conditions. There's a provision allowing Spirit to explore other offers within 45 days, with associated breakup fees (~$93M). This comes after acquiring VEREIT in 2021, and some notable acquisitions in 2022 including a stake in the Bellagio Las Vegas for $950 million, the $1.7 billion sale-leaseback of Wynne's hotel and casino near Boston, and $1 billion investment focused on the emerging trend of vertical farming and lining up a loan earlier this year to bank on future real estate investments. As transaction volume has been muted relative to the past few years - it will be interesting to see if more consolidations occur within the REIT space. Feel free to leave your thoughts below.