Hedge Your Bets While Diversifying Your Portfolio: An Expert Oakland Multifamily Broker Will Show You How
As an investor in real estate, you probably know that diversification is one of the best strategies in developing a strong investment portfolio. Astute Oakland multifamily brokers know that multifamily properties offer an attractive asset to include in that investment portfolio.
This doesn’t always mean investing in an expensive high-rise apartment building, by the way, although they can certainly be attractive as long as they fit your particular investment needs and available capital. The term “multifamily property” is any property that contains more than one unit of housing. They can take the form of condos, duplexes, apartments, townhomes…any type of property that has more than one housing unit on the property.
Multifamily Properties: The Sky’s Not Always the Limit.
What is attractive about properties other than single family properties is that they can lessen the risk of a property owner incurring high vacancies (and therefore, shortages in rent that allow you to operate profitably). And of course, the fewer the vacancies, the more rental income you will be receiving to help improve your overall return on investment.
When considering adding multifamily properties to your portfolio, you should first understand that financing will be more complex than investing in single family properties because of the larger financial requirement. As well, down payments will be higher. The more units you or your property manager will be managing, the more renters you will have that will be protected by rent and eviction controls, particularly in a city like Oakland that places the utmost importance on tenants’ rights.
All of these reasons point to the advantage of working with Oakland multifamily broker specialists and experts in this potentially more lucrative – yet also more challenging – category of real estate investments. An expert like Steve Edrington, President and founder of Edrington & Associates, possesses unique qualifications deeply rooted in his extensive education and experience in managing multifamily properties.
As a result of his impressive background, Steve is a multifamily broker who has the rare ability to differentiate between a good deal and a bad deal. The result? Steve and his team are well-positioned to maximize the value of both existing and new investment properties. In terms of existing properties, this often involves submitting a Capital Improvement petition to the Oakland Rent Board, legalizing or adding a unit through the ADU process, or expertly handling complicated tenant situations. So…
Oakland Multifamily Brokers Should Be on a Need to Know Oakland Basis.
Steve and the team at Edrington & Associates possess intimate knowledge of Oakland real estate. It’s critical that if you’re interested in investing in multifamily properties in Oakland that you work with a firm that knows Oakland real estate inside and out. Edrington & Associates can identify the most viable opportunities that represent the most value to YOU. This means looking at what your net operating income is going to be – what’s left after you’ve accounted for all of your operating expenses – and the cash flow you will have on hand to pay the mortgage. Steve Edrington’s background enables him to quickly and thoroughly understand your overall financial situation and how it might impact your tolerance for risk, your expected return on investment, and when you expect to start realizing that return.
Edrington & Associates: When You’re Ready to Cross That Bridge, We’ll Help You See the Light.
Edrington & Associates, under the leadership of Steve Edrington, is a team of Oakland multifamily brokers with over 25 years of experience in Bay Area real estate. Steve Edrington is a multifamily property specialist who can offer integrated Oakland multifamily broker services. He has been a trusted partner to property owners and investors on issues involving real estate transactions, planning and zoning, condominium conversions, accessory dwelling units, code compliance, property management, rent control and landlord/tenant disputes.
Steve’s impressive credentials include being a Certified Commercial Investment Member (CCIM), a Certified Property Manager (CPM); a California Certified Resident Manager (CCRM); a California Licensed Real Estate Broker (#01129470; a California Class B General Building Contractor (#1098831); and a former California Licensed Residential Real Estate Appraiser. This means he belongs to an exclusive, highly specialized group of brokers that can expertly handle the nuances, challenges and unique aspects of multifamily real estate in Oakland. Steve knows what to look for when it comes to identifying the most attractive Oakland multifamily investment opportunities, backed by a history of optimizing the sales value of these properties from both a buying and selling perspective.
Oakland multifamily brokers need to approach this complicated category like an investor would from start to finish, and that’s exactly what the team at Edrington & Associates does. What’s more, being based right in Oakland is an added advantage. It means being able to navigate any potential issues that might arise more seamlessly, such as working through Oakland’s added complexities around extremely strong tenants’ rights; rent and eviction policies; and ever-evolving ordinances.
In addition to the relationships Edrington & Associates has developed with the City of Oakland over the years, we have also created deep relationships with a large network of lenders. This means we can make connections for financing possibilities that best serve each of our clients’ needs.
When you partner with Edrington & Associates as your Oakland multifamily broker, you can be assured that you are working with a firm that will help you optimize the potential of your investments. This is our number one priority, and it is backed by decades of success in buying, selling, developing, investing in and managing multifamily properties in Oakland – and beyond.