We Have Closed on the Newest Multifamily Empire Property!
On Friday, September 16th, we closed on the latest addition to the Multifamily Empire portfolio, Ariva! This is a class B property with 176 units in Fort Worth, Texas.
With this property, we have an amazing opportunity to improve the unit interiors. We will allocate a large portion of the Capex budget to upgrade unit interiors to match the recently upgraded exterior, as well as provide additional resident amenities including a fitness center, playground and dog park.
We have already started planning the next steps to begin the process of improving the property. This asset already has a solid track record of cash flow. We are confident that with the changes we implement, Ariva will provide our partners with excellent returns.
Congratulations to all of the investors who are taking part in this with us!
"Considering one of the key issues in housing right now is the supply chain shortage, and with construction and remodeling as a huge part of our business plan, it has been crucial for Multifamily Empire to tackle this problem head-on. The core of our business model is to remodel units and upgrade amenities, creating vibrant and viable communities for our residents to call home. This in turn bumps up rents and increases property value for our investors. In these economic times, it's important to stay ahead of the curve. Multifamily Empire Construction, our vertically-integrated construction arm, has and continues to mitigate rising labor and supply costs with ready staff and materials across our properties in Dallas/Fort Worth. We keep our warehouse stocked with inventory in anticipation of scheduled move-outs and renovations. This enables our properties to be bulletproof from construction resource shortages and supply chain issues in addition to lower costs based on bulk purchases. As a result, we are able to stay on schedule and minimize downtime from renovations. Shorter downtime translates to more rents collected, meaning more returns for our investors. We can't always predict the future, but we can do our best to stay prepared and ahead of any potential issues that may arise. Next month, we'll continue to go in-depth about our operations and how we strive to make our properties more profitable! - Delia and Neander Lima
I have been so impressed with the level of expertise I have experienced working with Multifamily Empire. Multifamily Empire recently transferred the property management responsibilities of their three communities to Richmark Properties. Delia was so impressive with the level of vetting she did before making such a move.
We met together on several occasions, toured our properties, then toured their properties. It was the most thorough interview I have experienced in my 35 years of history in the Multifamily property management industry.
Communication is excellent, it feels that we are operating as one. We are all pursuing the same goal with the success of the properties, so working as one is a vital component of our relationship.
I look forward to working with them on these three and any future assets they obtain.
Sandra Prikryl,
CEO Richmark Properties
With inflation rates high, it's more important than ever to make sure your investments can protect you. Multifamily assets allow owners to adjust rent prices quickly, maintain cash flow, and see continued demand throughout all economic environments. The need for housing is constant, and as the number of homebuyers drops, the number of renters increases.
In this day and age, you can invest in any state or even country. Still, we recommend that investors look for investment companies that buy and manage properties close to home. When investment management is more hands-on, there is less room for mistakes, more supervision, and faster correction when something unexpected happens.
Simply choosing something close to home isn't enough, however. Investment properties should be located in prime locations that help guarantee high returns. Areas with high population growth, job growth, and development with increasing rental prices and lots of nearby activities are where you should be investing.
