Why Florida’s First Coast Is Ranked the No.1 Real Estate Market

Jacksonville, Florida is topping the list of several recent surveys predicting the hottest real estate markets for 2017.

In an article published by Forbes online magazine titled the “10 Hottest Real Estate Markets To Watch in 2017,” Trulia ranked Jacksonville no.1 on their list.

According to a survey on Realtor.com called “The New Hot Spots Where Americans Are Moving Right Now,” Jacksonville came in second for cities gaining the most residents as well as the no.2 destination for millennials.

Employment

Jacksonville continues to show a strong job market with growth of 3.8 percent in 2016.  This has led to a low unemployment rate of 4.4 percent and a larger amount of inbound searches on Trulia.com, versus outbound searches of locals leaving the area.  Jacksonville also offers a year-round economy and is the only Florida city with four different company headquarters on the Fortune 500 list.  The city has seen a 20 percent population growth over the past decade and its workforce is expanding at twice the national average.  In 2013, Forbes ranked Jacksonville as having the second fastest growing technology services base in the nation in a survey titled “The Cities Winning the Battle for America’s Biggest Growth Sector.”  Other notable industry sectors include finance and healthcare.

Healthcare

A strong healthcare industry leads to a better quality of life and makes Jacksonville a magnet for senior citizens.  Five of the city’s top ten private companies provide, or are affiliated with, healthcare services, such as Baptist Health — Jacksonville’s largest private employer.  It is also the home of one of three Mayo Clinics in the United States.

Education

Seven of Jacksonville’s high schools have appeared in Newsweek magazine’s top schools in the nation including Stanton College Preparatory School and the Paxon School for Advanced Studies.  The area is also home to several universities/colleges including the University of North Florida, Florida State College of Jacksonville, Jacksonville University, Florida Coastal School of Law, the Art Institute of Jacksonville and Edward Waters College. Nearby, Saint Johns County has been ranked the no. 1 school district in Florida for the past 10 years.

Affordability

Jacksonville’s cost of living ranks below the national average, making it more affordable than many other American cities.  Housing, healthcare and groceries all cost less than the national average.  The local housing market is still recovering from the recent real estate market collapse, making it a great place to find homes for personal purchase and investment.

Weather

The city has an average of 221 days of sun and a close proximity to beaches and the Atlantic Ocean — two reasons Sperling’s Best Places gave Jacksonville a score of 77 out of 100 on its comfortable year-round climate index.  The U.S. average for the comfort index is 54.

Trends indicate that Jacksonville will continue to benefit from strong population and economic growth, and a growing demand for real estate.  This makes it a great location for investors who will likely see larger returns on their investments.  Crowdfunding has made it easier than ever to invest in profitable real estate properties.

RealtyeVest is a real estate crowdfunding company headquartered in Jacksonville, Fla. The company offers investors the opportunity to capitalize on residential, multifamily and on-trend properties in Florida and across the United States.

Visit the company’s website to see how they can help you invest in real estate today.

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IHT Realty: One Man’s Plan to Grow Affordable Housing by Crowdfunding

IHT Realty Crowdfunding has rebranded itself as RealtyeVest.

JACKSONVILLE, Fla., March 21, 2017 — Park Place Communities (PPC) is taking a major step toward growing the stock of affordable homes in the United States.

PPC, a national real estate investment company that specializes in affordable housing, is seeking $1 million in capital to facilitate a large-scale affordable home project.

The company plans to take existing mobile homes, renovate them and sell them to qualified buyers using five-year amortized mortgages. The buyer will make monthly payments for five years at 12 percent.

“This allows buyers to purchase the mobile home for about the same monthly cost of renting,” said CEO Andrew Lanoie of Park Place Communities.

IHT Realty Crowdfunding, a real estate company that helps sponsors raise capital for their acquisitions, will be assisting PPC in securing funds as it looks to expand its operations and acquire an additional 15,000 to 20,000 mobile homes over the next few years.

“There is a huge demand for affordable housing right now and there are not enough parks to fill that void,” Lanoie said. Right now, there are roughly 50,000 affordable housing parks in the United States.

And with housing costs projected to rise by 5.4 percent from July 2016 to July 2017 — according to a study by CoreLogic Home Price Index — mobile homes are becoming a practical alternative.

“As the wage gap in the United States widens, there has been a shift towards lower paying jobs, which leads to an increase in demand for affordable housing,” Lanoie said.

According to the most recent report by the Social Security Administration, 36 percent of U.S. wage earners make less than $20,000 per year and 50 percent earn less than $30,000 per year.

“With 10,000 Baby Boomers retiring every day, 47 percent of which don’t have any retirement savings,  affordable houses are their last opportunity of home ownership,” said CEO Dan Summers of IHT Realty Crowdfunding.

PPC, a national Top 100 owner-operator of mobile home parks, currently owns 13 affordable housing parks in eight states with nearly 1,000 total homepads.

The company is looking for a $1 million mortgage pool to issue fixed-rate mortgages to buyers. It is offering a debt investment opportunity secured by a first lien, which is also backed by a corporate guarantee with a 10 percent interest rate paid to investors.

The first step will be to renovate more than 125 units, Lanoie said.

Contrary to popular belief, mobile homes are not really mobile. It costs over $3,000 for a resident to move their home out of a park, Lanoie said, which is the reason 98 percent of mobile homes will remain in the same location.

“Mobile home parks are one of the most stable and predictable investments during a recession and recovery,” Lanoie said.

RealtyeVest is a real estate crowdfunding company that offers investors the opportunity to capitalize on residential, multifamily and on-trend properties across the United States.

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IHT Realty Seeks Crowdfunding for Jacksonville Multifamily Deal

IHT Realty Crowdfunding has rebranded itself as RealtyeVest.

JACKSONVILLE, Fla., March 10, 2017  — IHT Realty Crowdfunding announced on Thursday a new program that will offer investors a guaranteed six-month return regardless of how early the property sells.

This new program comes following the company’s latest investment offering of a duplex property at 3730 Lehigh Street. The investment is being sponsored by Lenger Financial, Inc., which seeks to raise $80,000 in funds for renovations to the Brentwood property.

Lenger Financial is a Jacksonville-based capital management firm that specializes in asset management, investment advisement and financial architecture. The firm’s primary real estate focus areas include single- family, mid-to-small multifamily, manufactured homes and boutique structure ventures.

Built in 1944, the two-story brick building sits on a quarter-acre lot and includes two bedrooms and one bathroom per unit, which equates to about 900-square-feet per apartment. The building is structurally sound and includes a newly installed roof.

Additional upgrades and projected renovations include a new HVAC system with ducting, new flooring, an updated kitchen and new appliances, a new fire escape and entrance stairway, exterior painting, as well as landscaping and fencing.

Lenger Financial is offering a strong debt coverage ratio of 1.28 with an excellent after repair value (ARV) of 74 percent. The sponsor is projecting a gross annual income of $15,590 and a projected net operating income of $10,443.

RealtyeVest is a real estate crowdfunding company that offers investors the opportunity to capitalize on residential, multifamily and on-trend properties across the United States.

Jacksonville is listed No.1 in Trulia’s “10 Hottest Real Estate Markets to Watch in 2017” due to its growing job market. Jacksonville posted a 3.8 percent job growth in 2016, making it one of the top markets for employment in Florida. Trulia noted a heavy influx of citizens contributing to the city’s very high ratio of inbound home searches versus outbound searches from locals wanting to leave. These factors show a trend toward long-term stability in addition to great schools, fantastic weather and a close proximity to the Atlantic Ocean.

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Investor Spotlight: Doctor, Author Kenyon Meadows Reveals His Secrets for Investing in Real Estate

investor spotlight dr. kenyon meadows

Dr. Kenyon Meadows

Dr. Kenyon Meadows is a radiation oncologist from Youngstown, Ohio. He completed his residency in 2006 at the University of Florida and has been practicing medicine at the Southeast Georgia Cancer Care Center since 2008.

In addition to saving lives, Dr. Meadows is a published author and successful real estate investor, with an interest in residential properties in Jacksonville, Fla. Since 2013, he’s invested in approximately 35 deals on RealtyeVest, formally IHT Realty Crowdfunding, and similar crowdfunding platforms.

We recently sat down with Dr. Meadows to discuss his new book, “Alternative Financial Medicine: High Yield Investing in a Low Yield World” and his thoughts on real estate investing and the crowdfunding industry as a whole.

Q – How did you get started in real estate investing?

Dr. Meadows: I got “prepared” after enduring some stock market pain. Like everyone, I got hit pretty hard with the financial crash of 2008. But, after rebalancing into what I thought was a stable sector — oil and gas — I took another big decline. Soon after, I began to try to learn in earnest about alternative assets, such as real estate. Those efforts paid off after I met an investor who provided private money to a rehabber that was flipping about 15 houses per year in the Jacksonville market. After learning about the attractive yields and relatively passive nature of private mortgage lending, I took the plunge.

Q – Why do you primarily invest in the single-family market?

Dr. Meadows: While there are certainly advantages of scale when it comes to investing in commercial real estate properties, such as multifamily, there are a few factors that make single-family homes a more attractive investment. For instance, single-family homes attract small, working class families, who tend to rent for long stretches and hence minimizes what is often the largest expense associated with income property ownership: vacancy.

Also, in contrast to apartment tenants, they tend to feel more of a sense of “ownership” toward the property and therefore take better care of it on average. Both of these factors help to contribute to more stability, which translates into a more passive ownership experience for me. And should I ever chose to exit my portfolio, I like the option of having both an investor and retail buyer pool to potentially sell to.

Q – What initially peaked your interest in crowdfunding?

Dr. Meadows: Right around the time following my first few successful projects, some of the crowdfunding sites were coming online. This was really appealing to me because it allowed me to invest small amounts of money into real estate projects, which was more of what I was already doing. and I only invest in first-position debt.  Also, the opportunity to invest in properties across the country that otherwise would be out of reach was an intriguing concept. However, I probably would have been more afraid had I not had the prior experience with private lending.


Q – What are the best practices for a crowdfunding company?

Dr. Meadows: I love repeat sponsors with a track record of paying investors back. I am willing to sacrifice a little lower return for the chance to participate in their deals, but I only invest in first-position debt. I also like platforms that prefund the deals they list, which serves to align their incentives with the investors. Additionally, prompt communication in the event that there are any hiccups along the way is greatly appreciated. Out of the 35 or so crowdfunding deals I have done, only three are in some stage of the foreclosure process. Some sites have been better than others with respect to updates, but they all seem to be optimistic that there will be full principal recovery. That’s another reason why I only invest in first-position debt.

Q – What red flags about an investment offer have you encountered?

Dr. Meadows: If I see a deal with outsized returns my caution flag goes up. For instance, in the earlier stages of real estate crowdfunding, you could routinely see debt deals in the 14-15% range. As the space has matured and more investors are comfortable with the asset class, returns have compressed to the 9-11% range.

Q –  Tell me about your most successful real estate crowdfunding deal.

Dr. Meadows: It was a unique hybrid fix and flip deal in Los Angeles that had both first position debt, as well as a percentage of the profits from the sale. The loan was at 11% and the profit percentage was capped at an additional 8%. So, 19% when it was all said and done! That was back in 2015 and I haven’t come across anything that attractive since.

Q – Do you have any advice for sponsors/developers on how to stand out in the crowdfunding industry?

Dr. Meadows: Most crowdfunding sites lead with the deal terms and numbers – I would like to see more emphasis on the sponsors track record featured more prominently.

Q- Lastly, why did you choose to write this book? 

Dr. Meadows: I got tired of explaining all of the benefits of alternative assets on a one-on-one basis to people, and I figured I could reach more people with a book. In my opinion, real estate is the best, but there are certainly other investment opportunities that are appealing as well.

 

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RealtyeVest Lowers Minimum Real Estate Investment Amount to $5,000

JACKSONVILLE, Fla., June 7, 2017 — RealtyeVest lowered their required minimum investment amount today to just $5,000 for all offerings on their real estate crowdfunding platform for accredited investors. Previous minimum investment amounts ranged from $15,000 to $50,000, depending on the real estate project. The new $5,000 threshold is intended to give first-time investors a chance to experience RealtyeVest‘s high-caliber performance with a nominal financial commitment.

“We are seeing significant activity on our platform, however we feel there is a corner of the market we are not appealing to,” said Daniel Summers, RealtyeVest CEO. “So we are offering investors a taste of our service with a new lowered investment amount for all projects. Once they see the quick return on their investments, they will no doubt want to increase their contribution amounts.”

RealtyeVest connects commercial and residential real estate owner-operators with investors. Their one-stop platform, realtyevest.com, provides a simple, secure, and transparent digital dashboard for accredited investors to partake in exclusive high-yield investment opportunities. New investors can complete the simple accreditation process right on the RealtyeVest website and become accredited within approximately 24 hours.

“Our offerings generate returns ranging from 10 to 30 percent for our clients,” said Summers. “Lowering the minimum investment amount will allow many more investors to experience the benefit of working with us.”

CEO Daniel Summers

Mr. Summers has over 30 years of real estate finance experience. He is rapidly building RealtyeVest to the same magnitude he did with his former real estate investment firm Hastings Realty and Madison Realty Group, which he grew into a $1 Billion collection of office buildings and shopping centers.

Mr. Summers is a frequent participant on investment panels, speaks regularly at real estate and investment events, and hosts webinars about real estate investing.

Opportunities and Market Trends

RealtyeVest specializes in affordable housing and low-income community properties, as well as single family residential investments and commercial real estate rehabilitation projects. New projects are added to their platform weekly. They publish current real estate market trends and financial forecasts on their blog.

Learn more about RealtyeVest at realtyevest.com. Connect with them on social media @RealtyeVest, on Twitter, Facebook or Linkedin.

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