Jen’s Notes and News: Q2 2023
The end of the 1st quarter of 2023 has brought about some uncertainty around the real estate market. With the recent raise on rates and the news of the bank failures, many are wondering what is on the horizon for the real estate market. While not an expert market forecaster, I would like to think that we have a fairly good touch on the market fluctuations, after all we did predict that prices would skyrocket and make it very difficult for investors to find properties at below market values. This was spot on and thankfully that prediction came in time for us to create another revenue stream for investors to weather the market changes.
We launched Empire Capital Fund in 2020 right as the market started it’s uptick. In the next paragraph you will get to read about those successes but before you do that, let me just share that the market is not to worry about. Real estate is and always will be the most reliable and stable source of passive income available. The bank failures are not impacting real estate investments in any way and are isolated issues in the banking world. Last but not the least you can be assured that what goes up, must come down and the real estate prices with do this along with rates over the course of 2023.
Empire Capital Fund finished out 2022 with a bang by purchasing an 11 unit foreclosure at under 46K per door! We are currently in the renovations stages and predict the project to be completed by the end of 2023. We are working on getting approvals to convert 2 commercial spaces to additional apartments which could make this building up to 15 units in total if approved. Other notable successes are the flip we completed in about 4 months with a 58% ROI for our investors and our 1st property, a 3 unit having a record cash flow year of over 21K in profit. We will be launching our 3rd and final capital call round in the next week or two so be sure to reach out. You do not want to miss this opportunity.
Empire Property Construction has been hard at work this year completing multiple flips for our investors. If you have not followed us on social media, you will certainly want to do that now so you can watch the progress and see just why investors call us for their property flip needs. We have been steadily ramping up our employee base to keep up with the demand for services as well as adding services to our menu of offerings. Most recently we partnered with some local experts to offer zoning approval and conversion work and we created an inspection system for investors that allows you to get a handle on deferred maintenance and capital improvements prior to purchasing these investments. We are finding huge success with both offering and the feedback from our investors has been very positive.
The Empire Investment Club is steadily increasing in members which has created a demand for in- person networking events. Our first investor club event will be May 24th at 6 PM. You can find us on Meetup or via my website. This networking event is about finding deals in a changing market. Our guest speakers are very successful investors and sydnicators that will share all about how they got started in real estate investing and how they now own more than 200 million worth of real estate in several states. This is an event you will not want to miss. As always, thank you for being a part of our investor family. We continue to produce content dedicated to your success in real estate. If there is ever a topic you want us to cover, don’t hesitate to reach out.
Jen's Notes and News: Q1 2023