Investment Property Update, Issue 909.05

Question: Should I have the tenant walk with me on the inspection before the tenant

moves into the rental unit? Answer: Yes. It is a very good idea to conduct all inspec-tions with the tenant present. There should be a move-in in-spection with a new tenant before the move-in date and a fi nal move-out inspection with a departing tenant. Be sure to record in writing your fi ndings at the end of each inspection and to have the tenant sign off on each.

Question: Can the tenant point out maintenance issues and problems with the apartment during the inspection? Answer: Yes. The tenant may have specifi c concerns not addressed by your inspection paperwork/forms, or may simply observe something you missed.

Question: If the apartment is not available for a move-in inspection, is it acceptable to inspect a similar apartment? Answer: No. If it is not possible to inspect the apartment the tenant wishes to rent before he or she moves in, do it the day the tenant moves into the apartment.

Question: Should I have the tenant inspect common ar-eas and the exterior of the building also?

Answer: Yes. A thorough inspection of the property in-cludes any areas the tenant might access, including hallways, stairways, parking spaces and garages, storage areas, laundry rooms, and the exterior of the building.

Question: Can a tenant demand repairs be made to the apartment prior to signing the lease and occupying the prop-erty? Answer: Yes. A tenant can simply refuse to sign the rental agreement and walk away from the rental without any obliga-tion to you. To maintain future good tenant relations, it is a good idea to fi x any maintenance and repair problems (within reason) noted on the inspection. If you are aware of a major maintenance concern, repair it before you make your unit avail-able for showing.

Candy Livesey is the Manager for the Century 21 Prop-erty Management division. Candy’s offi ce is located in the city of Whittier. If you would like more information about property management, you can call Candy toll free at 800-651-2177, or visit online at www.C21PM.com.

A few months ago, in the Orange Coun-ty Register, Jonathan Lansner asked the question of his readers, “Is the bottom here yet?” The responses were varied

with opinions all over the map. However, it’s interesting that at this moment in time, several years into the slowdown, the question is now being asked. In many areas you’re seeing gross rent multipliers for apartment buildings moving down from their highs of four-teen, fi fteen, and sixteen and reaching lows of nine, ten, and eleven. In many areas we’re seeing costs per unit moving from 140-160 down to 100-120. This shift has been dramatic, it has been rapid, and it has been far more of an accelerated process than in the 1990s. I’m not a big believer in buying at the bottom and sell-ing at the top. I think it is a goal that is virtually impossible to achieve and it’s only in retrospect that we can really know what’s going on with the economy. I often tell clients not to try to guess the market, but if they want to reposition their eq-uities, now is always a good time. People forget that, because of the 1031 tax-deferred rule, it’s literally impossible to sell at the peak and buy at the bottom because you have to complete that transaction in 180 days. Having said that, I recognize it’s impossible not to play the game of “Where’s the Bottom?” One thing I know for sure

is that the memo which announces the bottom of the market is always a year or more late. We never really know until it’s the bottom until after the fact. In the 80s and 90s we had many false bottoms. Many times people thought the bottom had ar-rived but it failed to come to light as subsequent declines set the mark for the bottom.

“I often tell clients not to try to guess the market, but if they want to reposition their equities, now is always a good time.”

What I do know is that this economic slowdown, which really began in 2005 and 2006, has produced a much more rapid decline than any of the previous slowdowns that I can remember. In the past there would be one or two factors that would usually cause a slowdown. In our current situation, we’ve had several factors that hit immediately. In the past the recession, over-appreciation, and high interest rates would take their toll one by one. In this particular slowdown, which began several years ago, we have had the double punch of the over-appreciation of prices and the collapse of the fi nance component, which virtually shut down sales of apartment buildings in Southern California.

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Cover Stories 1Property Management 1 Finances 2Taxes 4Maintenance 5Local Listings 6Out of State Listings 6Buying & Selling 7Helpful Hints 9Directory 11

Real Estate FundsPage 2

The Memo is Always a Year or Two LateBY JAMES JOSEPHOwner of Century 21 Ambassador and Coldwell Banker AmbassadorCentury 21 Liaison to Japan

IN THIS ISSUE

continued on page 2

Century 21 International President Tom Kunz with Investment Property Update publisher James Joseph en-joying the snow in Sapporo, Japan, at the famous Winter Snow Festival.

Take a photo with the IPU on your next trip, and either mail or e-mail us a copy. Email your photo with “Traveling with the IPU” in the subject line to: [email protected]. Or you can mail a copy to Century 21 Ambassador, Attn. Michael, 15201 Leffi ngwell Rd., Whittier, CA 90604. We can not return your photo, so please send a copy.

TRAVELING with the IPUFREEStarbucks CoffeeSend us your travel photo, and if we use it, we’ll send you a$5 Starbucks CoffeeGift Certifi cate!

THE ONE SOURCE FOR ALL OF YOUR INVESTMENT PROPERTY NEEDS ISSUE# 909.05

INVESTMENT PROPERTY UPDATE

Your Questions About WalkthroughsBY CANDY LIVESEYCentury 21 Ambassador Property Management Manager

ONLINE INFO

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Contact James Joseph today for your investment property needs. Phone: 562.236.0088 Email: [email protected]



With the less than desirable performance and income po-tential of stocks, bonds, and cash over the past year, many of my clients have come to me with an appetite for alternative investments. Many of the Real Estate Sponsors that I work with on behalf of my clients’ involved in 1031 exchanges also sponsor Real Estate Funds, which are available for direct cash investments. The purpose of this article is to give an overview of how real estate funds work and how they are commonly structured. We will also look at the potential benefits that investors can realize through investing in real estate funds along with their potential risks.

How does a real estate fund work? Real estate funds are typically offered as securities through private placements and as such are only available to accredited investors who have a net worth of over 1 million dollars. They are offered through a Private Placement Memorandum (PPM) which goes over the details of the real estate sponsor compa-nies background, proposed business plan and hold period for the fund, a description of the assets in the fund, along with the risk factors pertaining to an investment in the fund. A real estate fund is formed by a real estate sponsor as an investment vehicle for individual investors to participate in in-stitutional real estate projects for a relatively small investment (twenty five or fifty thousand dollars) as compared to the total price of the building(s). The real estate sponsor is typically a real estate company that has had numerous years in the real es-tate industry with experience in acquiring, managing, and sell-ing real property. The sponsor typically will focus on one core asset class, such as multifamily apartment buildings, which is their primary area of expertise. The following paragraphs will describe a hypothetical scenario of how a real estate fund could be structured. Past performance and structuring is no guarantee of future results and/or structure. The real estate sponsor company will typically form the real estate fund as a Limited Liability Company (LLC). The

sponsors will sell membership units to investors based on a minimum investment amount of usually $50,000. That invest-ment will provide for the investor a pro-rata portion of his/her share of the potential rental income, potential tax deductions (depreciation and interest write offs), and potential apprecia-tion on the sale of the properties. The real estate sponsor company, according to the LLC agreement in the Private Placement Memorandum (PPM), will usually be entitled to a portion of the income and poten-tial appreciation of the properties in the fund. Typically, the sponsors will agree to pay the investors a preferred return of 8%, however preferred returns vary and are set by the sponsor dependant upon the offering. In the aforementioned example, the investors get 100% of any rental income until they receive an annualized return of at least 8%. Any excess rental income after the preferred return paid to the investors will typically be split between the investor and the sponsor. In our current of-ferings, the splits are 70% to investors and 30% to the spon-sor, however they can vary dependant on the sponsor and the investment. The following is a hypothetical example as an illustration: if the real estate fund owned a 200 unit apartment building that was producing a Cash on Cash (COC or Net Spendable) re-turn of 10%, the investors would receive the first 8% as their preferred return, and the remaining 2% would be split 1.43% to the investors (which is 70% of 2%) and .57% to the sponsor

(which is 30% of 2%). What this does is create an alignment of interest between the investor and sponsor. Now the sponsor has monetary incentive to run the properties efficiently and in a way so as to maximize rental income. The sponsor knows that the more money they can generate out of the property for the investors the more money that they will receive as a result of their efforts. The investors know that the sponsor now has a vested interest to keep the properties in the fund running as ef-ficiently as possibly. In my opinion, this type of profit sharing works very well because it means that if the sponsor is making money then my investors are making money. Upon the sale of any assets in the fund the investors are contractually entitled to 100% of their initial capital contri-bution back before the sponsor receives anything. Once the investors receive 100% of there capital contribution then any profits after that point are typically split again, 70% to the in-vestors and 30% to the sponsor. Let’s look at another hypothetical example, if the investor purchased a membership unit for $100,000 and after 4 years the property was sold at a 33% appreciation. The investor would have received a potential 8% annualized return on his money per year (which would be a possible total of $32,000 in rental income) and when the property sold he would receive the $100,000 initial contribution back. Once this took place, he would receive 70% of the appreciation (which would be

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Real Estate Funds: A Stock Market AlternativeBY DWIGHT KAYJRW, Registered Representative

Late Memocontinued from cover

With that said, it may be time to start considering that the bottom is growing near. We won’t know for certain if we’ve reached the bottom until a year or so af-ter it has already passed, but if you are a bottom-feeder, if you are someone who’s waiting for “the deal,” now may be the time to take the pencil off the shelf, dust it off, and look at some deals. I know many of my cli-ents have been sitting out of the apartment market since 2002 or 2003 when this current run-up began. I don’t know how far prices have come down with respect to that, but I think it is safe to say we are beginning to see the dawn of an era in which apartment buildings will begin to pencil out with reasonable down payments. In the market evaluations that I do for clients when they ask me what their property is worth, there is one section that I call my “cash on cash” section. For quite a long time that variable in my evaluation was always a reasonable price in comparison to the other variables (ex, cost per unit, cost per square foot, gross rent mul-tiplier, etc). Since about 2002 or 2003 that calculation, the amount of cash on cash return a buyer can receive with a 25% down payment, has remained far below all other calculations. However, recently I’ve noticed that calculation more in line with the other ones. I think it’s safe to say that once those numbers even out, valuations will come within the realm of reality or within the realm of value for investors. Some time ago I wrote an article called “The Return of the Buyers with Calculators.” In it, I pointed out that the 1031 buyers had disappeared and the market was full of buyers who were looking at apartment buildings as cold investments based only on calculations. I think now it’s safe to assume we are all buyers with calcula-tors. It will be interesting to see what happens. We’ll never know where the bottom is until a year or two after it has passed, but it’s safe to assume that we are on our

way towards the bottom as valuations come in line with the expectations of serious investors. If I can help you buy or sell your apartment building, I am only a call, click, or visit away. Please let me help you meet your personal financial goals through apartment investing.

James Joseph is a 28-year veteran of the real estate industry and specializes in apartment buildings. He has sold over 2,300 units in his career. The range of cities he covers reaches as far south as Costa Mesa, as far north as Pasadena, and as far east as Ontario. He is recognized for his mass marketing to over 18,000 apartment owners on a monthly basis. Through the monthly newspaper, the Invest-ment Property Update, he is able to market all of his listings to over 18,000 potential buyers. He is well trained and edu-cated in his market and highly recommended by past clients. He has maintained a successful career in listing and selling apartment buildings while juggling office ownership, na-tional speaking, and foreign real estate consulting. Mr. Joseph is the owner of Century 21 Ambassador (formerly Grisham-Joseph) at 15201 Leffingwell Road in Whittier and Coldwell Banker Ambassador at 16201 E. Whittier Boulevard in Whittier. The office is a fourteen-time consecutive winner of the coveted Centurion award and now the Double Centurion award for sales excellence. With over 140 agents in two offices, he developed and oversees the Commercial Investment Division. He can be reached at (800) 874-0715 or online at www.josephapartments.com.

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continued on page 8



Issue# 909.05

3Investment

Property UpdateInvestment

Property Update


With that said, it may be time to start considering that the bottom is growing near. We won’t know for certain if we’ve reached the bottom until a year or so af-ter it has already passed, but if you are a bottom-feeder, if you are someone who’s waiting for “the deal,” now may be the time to take the pencil off the shelf, dust it off, and look at some deals. I know many of my cli-ents have been sitting out of the apartment market since 2002 or 2003 when this current run-up began. I don’t know how far prices have come down with respect to that, but I think it is safe to say we are beginning to see the dawn of an era in which apartment buildings will begin to pencil out with reasonable down payments. In the market evaluations that I do for clients when they ask me what their property is worth, there is one section that I call my “cash on cash” section. For quite a long time that variable in my evaluation was always a reasonable price in comparison to the other variables (ex, cost per unit, cost per square foot, gross rent mul-tiplier, etc). Since about 2002 or 2003 that calculation, the amount of cash on cash return a buyer can receive with a 25% down payment, has remained far below all other calculations. However, recently I’ve noticed that calculation more in line with the other ones. I think it’s safe to say that once those numbers even out, valuations will come within the realm of reality or within the realm of value for investors. Some time ago I wrote an article called “The Return of the Buyers with Calculators.” In it, I pointed out that the 1031 buyers had disappeared and the market was full of buyers who were looking at apartment buildings as cold investments based only on calculations. I think now it’s safe to assume we are all buyers with calcula-tors. It will be interesting to see what happens. We’ll never know where the bottom is until a year or two after it has passed, but it’s safe to assume that we are on our

way towards the bottom as valuations come in line with the expectations of serious investors. If I can help you buy or sell your apartment building, I am only a call, click, or visit away. Please let me help you meet your personal fi nancial goals through apartment investing.

James Joseph is a 28-year veteran of the real estate industry and specializes in apartment buildings. He has sold over 2,300 units in his career. The range of cities he covers reaches as far south as Costa Mesa, as far north as Pasadena, and as far east as Ontario. He is recognized for his mass marketing to over 18,000 apartment owners on a monthly basis. Through the monthly newspaper, the Invest-ment Property Update, he is able to market all of his listings to over 18,000 potential buyers. He is well trained and edu-cated in his market and highly recommended by past clients. He has maintained a successful career in listing and selling apartment buildings while juggling offi ce ownership, na-tional speaking, and foreign real estate consulting. Mr. Joseph is the owner of Century 21 Ambassador (formerly Grisham-Joseph) at 15201 Leffi ngwell Road in Whittier and Coldwell Banker Ambassador at 16201 E. Whittier Boulevard in Whittier. The offi ce is a fourteen-time consecutive winner of the coveted Centurion award and now the Double Centurion award for sales excellence. With over 140 agents in two offi ces, he developed and oversees the Commercial Investment Division. He can be reached at (800) 874-0715 or online at www.josephapartments.com.


Issue# 909.05





In light of our current economic woes and equally challenging real estate market, property owners are having a difficult time attracting buyers. And often times when pro-spective buyers do surface, the offers that are made are so low it is almost insulting. Would you like to learn how you might attract more qualified buyers during these tough economic times and give yourself the best shot possible to get the price you want? It is not as difficult as you might think. It just requires laying aside emo-tion, allow a little front-end compromise on price and imple-ment tax law to finalize a structured deal that can position you best to ultimately get the price you want. So, what am I saying here? Simply, it is this: you have worked hard for what you have. No one has handed it to you on a silver platter. You just want to sell your property and not have to suffer a big hit on the selling price because of the aberrant market conditions we currently have. Ridiculous!? A pipe dream? No, it is real and consistent with tax law. Let me illustrate. Let’s assume that you believe your investment property would be worth $1 million during normal market conditions. You list it for $500,000 now, but with a price re-set to market value as part of what is called a Collateralized Installment Sale. This provision will use a pre-negotiated index or mea-sure of market value at an agreed-upon time in the future, say, four years from the close of escrow. The price re-set is con-tractual, not a matter of tax law, so the parties are free to select the timing and method of the re-set, as well as any minimum price, maximum price or share of appreciation.

Benefits for the Seller and the Buyer What are the benefits to the seller? At the time of re-set, you capture the full value that you expected to have gotten during normal market conditions, subject to any minimum, maximum or share of appreciation on which you agreed at the outset. In addition, your income will increase at the time of the re-set, while at the same time all capital gains taxes are deferred for up to 30 years because of the Collateralized In-stallment Sale and Section 453 of the Internal Revenue Code. The re-set also provides substantial protection from inflation which may occur between now and then. What are the benefits to the buyer? This approach makes it much easier for the buyer to purchase the property—ini-tially at a lower price. He also enjoys a reduced interest cost for the years after the purchase finalizes and until the price res-set occurs. Further, because of the unique structure of the Collateralized Installment Sale, which allows the buyer’s loan balance to re-set, too, the buyer is not required to come up with new money or a new loan when the re-set occurs. The buyer only needs to manage an increased loan payment beginning then. The combination of these two re-set provisions—a price re-set feature in the sale contract and a matching loan re-set feature in the buyer’s loan agreement—enables sales trans-actions to resume, even in our current challenging and con-strained market. This can only be accomplished within the context of a Collateralized Installment Sale.

The Collateralized Installment Sale solves many of the problems that owners encounter when selling their properties. It can, for example, help attract qualified buyers and obtain a more reasonable price for the property. It can be structured in a way to protect the seller from having to sacrifice on the price and the buyer from owing more than the property is worth. It also provides the seller better income (on the gross sale proceeds rather than the net after-tax) and better security with collateral in the form of financial assets that are as con-servative as the seller may wish, held safely by an indepen-dent third party such as a bank. This selling approach is also a very effective alternative to a 1031 exchange because it defers the taxes without the time constraints, like-kind replacement requirement, tax on “boot”, trading-up requirement, debt maintenance, foregone step-up in depreciation, and loss of bargaining power that go with a 1031 exchange. If the seller in a Collateralized Install-ment Sale still wants to purchase other property, he or she has all the time in the world to find a quality property to purchase for the right price and terms and can use the income stream

from the Collateralized Installment Sale for funds with which to do so. Benefits enjoyed by the Seller who implements this tax planning approach include:

(1) Deferring ALL capital gains and Section 1250 deprecia-tion recapture taxes for whatever time period is specific in the Collateralized Installment Sale contract.

(2) Greater income to the Seller because it is generated from “pre-tax” dollars. In other words, the principal amount received from the property sale is not deteriorated by taxes before income is generated. This usually gives the seller 30% or more in greater income.

(3) Greater peace of mind for the Seller because the sale proceeds received for selling the property becomes the secu-rity for the installment sale—not the property or the buyer’s ability to make the payments.

(4) The Seller may enjoy the benefits of a larger pool of qualified buyers and may consummate a sale with more ad-vantageous price and terms.

Take action now We have all learned from childhood that it is prudent to get a second opinion if we are diagnosed with a serious ill-ness. Wouldn’t you agree that paying more in taxes than you need to can be a serious threat to your financial health? To determine the appropriate action plan for you, it is essential to first learn what your true tax problem is and then search out the most viable options available to eliminate or reduce the taxes for the year of sale and maximize your profit and income. Once these solutions are found and are tailored to your specific circumstances, the last step is to verify its

authenticity under tax law through independent tax and legal authorities. Once this is done, you can confidently move for-ward to sell your properties. Following these steps will pre-pare you to be better informed on how best to approach the sale of your property and accomplish your goals. If you have appreciated real estate or other assets that you would like to sell and would like to maximize your tax and income benefits, wouldn’t you agree that it is worth dis-covering what options are available to you? The Collateral-ized Installment Sale is one of your choices—and a very ef-fective one to consider. Call us today toll-free at (800) 300-4723 ext. 14 for a FREE consultation to discuss your financial circumstances and tax concerns.

Disclosure: Collateralized Installment Sale transactions can be achieved only with the participation of S.Crow Col-lateral Corp., a qualified installment sale dealer with which TaxWealth®LLC has a business relationship.

About the Author...Bruce Jones entered the financial services industry in 1970 and has taught the subjects of tax management and fi-nancial planning since 1974. He is President and CEO of TaxWealth®LLC, a tax advisory company which provides comprehensive tax planning solutions for owners of real es-tate, privately-held businesses and other appreciated assets. In addition to serving its own clientele, TaxWealth® supports CPAs, attorneys, financial advisers and real estate profes-sionals in helping to solve their clients’ tax problems. Headquartered in Newport Beach, California, Tax-Wealth® works with clients and professional affiliates na-tionally. You are encouraged to visit their web site at www.taxwealth.com or call Mr. Jones toll-free at (800) 300-4723 ext.14.

Tax Law and Rational Thinking: A Great Combination to Successfully Sell Your Property During

Tough Economic Times and Get the Price You Want BY BRUCE JONESPresident and CEO of TaxWealth®

TAXES



Issue# 909.05

5Investment


Property Update


Dear Maintenance Men: I know we are in bad economic times and sometimes people do desperate things to help ends meet. After do-ing a routine inspection of my building, I noticed a resi-dent had cut a hole in the bedroom wall through to the garage and converted the garage into a living space. I have since evicted this tenant and I am starting my re-pairs. I want to bring it back to its original condition. Can I just slap up some drywall and be done? John

Dear John: We will assume “the hole” the resident cut into the wall was a doorway or an opening of similar size. The issue of repairing or replacing an attached garage wall system is a serious one. Often the importance and proper building code compliance is overlooked. In some cases owners or DIY’s unknowingly create a situation that can be disastrous in the case of fire. Most cities require the use of five eights type X gyp-sum board (drywall) as a firewall. The drywall board should have a one-hour fire rating. Because the garage and living area structures are attached or share the same wall, the drywall must not exceed one-quarter inch gaps when installed. There should not be a gap between the footing and the wallboard. This is to insure fire does not breach cracks, crevices or gaps. When installing the wall-

board, start from the top of the wall and go down. If your existing wall is lath and plaster, you will need to use one quarter inch furring strips and five eights inch drywall. Then mud and tape the joints and texture to suit.

Dear Maintenance Men: I have a light colored carpet that has stains that will not clean out. The carpet is in good condition, so I am reluctant to replace it. Is dyeing a carpet a good alterna-tive to replacement?Phil

Dear Phil: In this economy dyeing carpets is making a strong come back. First you will need to determine what material your carpet is made of. Typical carpet materials are: ny-lon, olefin, polyester, wool etc. As an example 70% of car-pets are nylon, wool can be found in Berber style carpets and olefin is often used in commercial carpets. Polyester is used to a lesser extent because of poor stain resistance qualities. Knowing what your carpet is made of will de-termine the method of dyeing. In order to hide stains that cannot be completely removed, you will need to dye the carpet a darker color. We would recommend you get two quotes; one for the carpet dyeing and the other for the carpet replacement. On average a typical apartment grade carpet may cost any-

where from $13 to $15 or more a square yard and dyeing may cost anywhere from $9 to $13 a square yard. If the cost to dye the carpet is close to the cost to replace it, we recommend replacement. Other considerations to keep in mind is the condition of your carpet pad, if it is flat or you have runways flattened in your carpet, it would again be best to replace the carpet.

Dear Maintenance Men: I am having a dilemma; one of my downstairs units has a major plumbing problem. According to the plumb-er, the tub/shower drain beyond the trap is rotted and needs to be replaced. The plumber says the tub must be removed to complete the repairs. I’m afraid to approve the bid due to not only the cost and inconvenience to my resident, but my shower wall tile is in perfect condition. What are some of the steps to make sure this ‘rotted’ pipe is the issue before I give the plumber the OK? Joan

Dear Joan: The shower tile is most times the “ouch” factor in a tub replacement. It is hard to see perfectly good tile go to waste. As a matter of fact, removing a tub is always a big job and we don’t blame you for being hesitant. Since the plumber is recommending removing the tub, we will assume your units are on a slab foundation and the only access if from the tub area. We recommend doing a rooter service first. If the pipe is rotted or broken, evidence of mud or other debris might stick to the snake. Next, using a camera snake, you might be able to see the break and confirm the plumber’s diag-nosis. The snake and camera will give you a good idea of the direction, distance and location of the break. This will come in handy when it comes time to make holes in your concrete. (The fewer holes the better!) Some ‘tell tale’ signs your line is broken, corroded or worn through from the bottom:

1. The tip and cable of the ‘snake’ rooter line is clogged with mud, (Black sludge is normal in older lines)2. The rooter cable cannot break loose the clog. (The cable tip may have found the hole in the pipe and is busy digging a tunnel in the dirt.)3. The clog returns time and time again.4. Waste water is found at the interior or exterior of the unit.

With regards to your shower wall tile, simply cut the first two tile courses above the tub. You can break the tile along a natural grout line or use a ceramic tile saw to cut through the tile. After the tub is removed and reinstalled. Replace any of the drywall behind the tile with ‘hardiback’ materiel and install the missing tile and grout to match.

If you need maintenance work or consultation for your building or project, please feel free to contact us. We are available throughout Southern California. For an ap-pointment please call Buffalo Maintenance, Inc. at 714 956-8371

Jerry L’Ecuyer is the owner of Buffalo Maintenance, Inc. and is a licensed contractor & real estate broker. He is currently on the Board of Directors, Chairman of the Education Committee & President of the Apartment Association of Orange County. Jerry has been involved with apartments as a professional since 1988 and can be reached at (714) 778-0480 or [email protected].

Frank Alvarez is the Operations Director for Buffalo Maintenance, Inc. He has been involved with apartment maintenance & construction for over 18 years. He is also a lecturer & educational instructor. Frank can be reached at (714) 956-8371 [email protected] Please view our web site at: www.BuffaloMaintenance.com.

You need to know that your investment property is being well taken care of!

Let Century 21 Property Management take care of your property and help your problems decrease while your profits increase. Call

us today and find out how we can make owning investment proper-ties stress-free. Ask for Candy Kivesey.

Phone: 562-236.0102 Web: www.C21PM.com

Dear Maintenance MenBY JERRY L’ECUYER AND FRANK ALVAREZBuffalo Maintenance

MAINTENANCE


Issue# 909.05



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1410 W. 145th Street, GardenaAll 3 Bedrooms$649,999Just Lowered Price

LOCAL LISTINGSALHAMBRA

4 units $800,000A four unit building with all units 2 bedroom 1 bath. Rents are below mar-ket with opportunity to increase. Trust sale sold as is, no court confi rmation required. Tenants do not know the property is for sale. Please do not go on the property or disturb the tenants.

14 units $2,995,000Hot Rental Area, never a vacancy. Near Garden Cafe, Harbor Kitchen. A mixture of (3BR/2BA), (2BR/2BA), (2BR/1BA) and (1BR/1BA).

ANAHEIM

14 units $1,550,000Located near the intersection of La Palma and Harbor Boulevard on May-fair Avenue in the city of Anaheim, this 14-unit apartment property offers

investors a true value-added opportunity. Recently renovated and well-maintained, this property consists of ten one-bedroom, one bathroom units and four two-bedroom, one-bathroom units. The property features a land-scaped courtyard area, laundry facilities, and seven two-car garages for the tenants’ use. With current rental levels at the property already on the lower end of the market, investors can feel more secure acquiring this property than many competing properties on the market today. This offering repre-sents a great opportunuity for a value-conscious investor to acquire a well-maintained property with good curb appeal at an attractive cost-per-unit.

ARCADIA

4 units $888,000Well maintained split level building on a quiet street close to shopping and transportation. Four units, each with one bedroom, one bathroom and individual garage with automatic garage opener. Kitchen and bathrooms have original cabinets and counters; no dishwashers, but refrigerators and ranges are newer. Window a/c units. Community laundry facilities on-site with coin-operated washer/dryer. The exterior of the building was painted recently. Three units are ground level, fourth is upstairs. Unit A is $1,050/mo, lease expires in January; Unit B, C, & D are month-to-month, rented at $950, $1,000, and $1,000 respectively.

BALDWIN PARK

7 units $849,000Income Property with potential. 7 units each one with 1 car garage. Front unit and back unit with small yard. All units are 2 bedrooms +1 bath. Each unit have individual laundry hook ups. All units have separate electric and gas meters. Conveniently located near mini markets. Drive by only. Do not disturb tenants please.

CORONA

4 units $509,000The property is situated just north of the 91 Riverside Freeway, just west of the 15 Ontario Freeway. The property is located well within walking distance to downtown Corona which offers the residents an enormous vari-ety of entertainment, shopping, culture and family fun. The Corona Public Library and Fender Museum of Music and the Arts provide cultural and educational programming. The property benefi ts from it’s proximity to Or-ange, Los Angeles, and San Diego Counties, and is growing nearly three times as fast as the whole United States. The region features an impressive offering of 23 college campuses, including University of California, Uni-versity of Riverside, two California State Universities and nine community colleges. Together, these colleges offer a combined enrollment of nearly 200,000 students.

4 units $585,000A Beautiful, Nice and Well Maintained Four Unit Rental property in a Prime Area of Corona with excellent tenants. Each unit is very clean and has a Excellent setup, all four units consists of 2 Large Bedrooms and 1 Full Bath. This is a must see deal, It also has a Great location, Close to shopping, schools and parks, public transportation, 91 Fwy - 15 Fwy, and only a few minutes drive from Orange County.

FULLERTON

4 units $910,000Beautiful 4-Plex in Sunny Hills area of Fullerton. Excellent rental property. Many upgrades including all new double-pane windows, slider, doors and heaters.

14 units $4,890,00014 luxury condo in Fullerton quite area, address are including 920. close to Cosco, Alberson store. Spanish style with balcony , 2 story, 2 beds, 2.5 to 3 baths, living room with hard wood fl oor, granite kitchen counter, custom painting, classic title, apx sf from 1102 to 1236., Fullerton School District. All 14 unit are able to sale separate price from $320000 to $350000. seller motivated.

GARDEN GROVE

4 units $820,000Great Gardent Grove Loacation, walk to Korean Shopping Community. Close toVietnammese Center. All units has airconditions, all unit are large and well laid out with living room, dining area and half bath, and two bed-rooms one full bath upstrair.

8 units $1,000,000Seller motivated. Consists of two 4-plexes on one legal parcel. Each build-ing consists of (4) one-bedroom, one-bath units. Both buildings are single story and in pristine condition. The rents are below market, which allows immediate upside for a new investor.

GLENDORA

4 units $1,095,000Four nice Condo Style Apartment - Good Income - Fully occupied. Con-sists of Two large 3 BR/2.5 BA-3BR/2BA (approx. 1650-1750 sq ft. each ) with two car garage attached and Two 2 BR/1.5 BA (approx. 1200 sq ft.

each) with one oversized car garage attached. All units have its own patio and upstairs deck. Large lot : Approx. 11,979 sq ft. per assessor. Each unit has its own laundry hook up in the garage. Gendora school district. Nice and NEWER BUILDING. A must see!!! Live in one and rent the others or bring your investors...SHOW and SELL.

GARDENA

4 units $599,000Two duplexes, back to back.. one faces 167th Street, and the other faces 168th Street. One lot.

5 units $749,000Well maintained fi ve-units apartment building located in a non-rent con-trolled area of Gardena. This property offers an excellent mix of three 1 bedroom/1 bath, one 2 bedroom/2 bath and one 3 bedroom/2bath. Most units have copper plumbing and separated gas and electric meters. There are 5 garages with automatic opener and a laundry facility for extra in-come.

POMONA

4 units $574,9004 Units Income apartment, fully rented, Very well Maintain and update. Long term tenants with each 2 beds and 1 bath, 4 garages + 8 parking stall. Private Laundry room exclusively for tenant within the Unit. Gated all around with key entry...!

SANTA ANA

8 units $949,000Two Four-Plexes located Just East of School. Single-level Units located side by side. 525 W. Warner & 529 W. Warner with separate Tax Bills. Apn#’s 015-101-19, 015-101-17 respectively. Great Opportunity For Your most Investor Oriented Buyers. Lot size approximately 12,768 according to Assessor’s. Total Sq. Footage of Units is apporximately 4,536 sq. feet. Units are 1 Bedroom and 1 Bath with Kitchen and Living Area that mea-sure approximately 550’ sq feet Each. Total Gross Income is $6,190 per month. Some Units Upgraded more than others. New Asphalt Driveway being installed shortly. Both Four Plexes are the fi rst Dwellings just East of School. Parking allows up to 8 Slots per four Plex. Great Possibilites for Investor Minded Buyers. Drive-By Only Please out of Respect & Privacy Of Tenants. Water & Trash service paid by Owner at appox. $671.00 every two months. Gardener is $90.00 per month paid by Owner. Newer Roof as well...Show & Sell

Out Of State ListingsTo advertise your out-of-state property inthe IPU, call Michael Dinsmoor at (562) 236-0117

City: McKinney, TX7.8 cap; 24,677 CPD along frontage on busy Eldorado Parkway; Highly affl uent, commercially active North Texas market; Tenants include Quizno’s, dentist, dry cleaner, computer repair, medical testing lab, Wingstop, nail salon, hair salonOffered by: Zach Heard (214) 240-3910Email: zachheard@judgefi te.comwww.c21JFcommercial.com(See Ad Below)

LOCAL / OUT OF STATE LISTINGS

LeGrand Plaza Multi-Tenant Retail Center, McKinney, TX

14,746 SF Retail Center, 100% Occupied $4,050,000

Contact: Zach Heard 214-240-3910

Information contained herein was obtained from sources believed reliable, however, CENTURY 21 Judge Fite Company makes no guarantees, warranties or representations as to the completeness, or accuracy thereof. The presentation of this property is submitted subject to errors,

For your sales/leasing/land/office/retail/industrial/investment needs in DFW and North Texas

1140 Empire Central, Suite 520, Dallas, TX 75247 Email: [email protected] www.c21JFcommercial.com to see flyer

�� 7.8 cap �� 24,677 CPD along frontage on busy Eldorado Parkway �� Highly affluent, commercially

active North Texas market �� Tenants include Quizno’s, dentist,

dry cleaner, computer repair, medical testing lab, Wingstop nail salon, hair salon

MADE EASY!

Check out the IPU on www.facebook.com

The Investment Property Update is now on the popular Facebook.com. If you would like updated information and posted articles from the IPU on Facebook, become a fan today. It’s easy! Just log into Facebook.com. If you are not already a member, sign up today! Once you are logged in, type in Investment Property Update in the “search field” at the top right of the page. You will find our Fan Page at the top of the list. Click on the link and click on “Become A Fan”. We will post old articles as well unpublished articles on this page, as well as videos of interviews with our vendors. You will find that this is a great tool as well to keep up to date with investment property information.


InvestmentProperty UpdateBUYING & SELLING

MADE EASY!

PHONE EMAIL MAIL FAX

Call Us Toll Free800.874.0715

James Joseph’sExecutive Assistant [email protected]

James Joseph15210 Leffi ngwellWhittier, CA 90604

Fax Us at562.236.0139

Send in your PVA card today, or contact me using one of the methods above. I want to help you achieve your invest-ment property goals!R.E. Lic. #00819837

5 Steps To Buying & SellingBUYING

1. If you have received or would like to receive a fax, email, or postcard/flyer about a property, call James Joseph’s Executive Assistant Lisa at 800.874.0715.

2. Fill out a NO OBLIGATION Buyer Representation Agreement and fax/email it to Lisa.

3. Along with additional property details, we may have you sign a pre-qualification letter with our lend-er, and Bruce Jones will offer you a Free Tax Analysis.

4. If you decide to purchase the property, we will send you a one-page offer letter to fill out and fax/ email back to us to begin negotiations.

5. Let James Joseph handle the rest.

SELLING1. Either fill out the PVA card and mail it to us, or call, fax, or email Lisa to get a NO OBLIGATION cur-rent market analysis of your property.

2. Lisa will contact you about the particulars of your property, and will schedule an appointment for you with James Joseph to accommodate your schedule.

3. Come in for the appointment to go over your analy-sis, and share your desires or concerns with James Joseph.

4. You can decide when to list your property.

5. Let James Joseph handle the rest.

Fill out the Property Value Analysis (PVA) card that is included in this paper and drop it in the mail. I will review your information, and contact you with a FREE, NO OBLIGATION consultation. If the PVA card is missing from this publication, please contact James Joseph’s assistant Lisa by phone, mail, or fax with the information provided below. I have been listing and selling Investment Properties since 1981. I am confi dent I can help you with your Investment Property needs! James Joseph

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Issue# 909.05





$23,100) and the sponsor would receive the last 30% (which would be $9,900). So the investor basically had to share $9,900 of his profi t with the sponsor in order to receive the $55,100 of rental income plus appreciation. Please remember this case study is based on an 8% preferred return and a split of 70% to the investor on returns exceeding 8%. The preferred returns can vary and may be less and the splits may also vary and be less. These factors can be attractive to investors considering that the investment required no day-to-day management on the investors’ part along with the fact that he only had a relatively small amount of capital at risk unlike the amount of capital, money, and liability it would take to purchase the whole prop-erty himself. Again, what the profi t sharing does is create an alignment of interest between investors and the sponsor, be-cause as the sponsor potentially makes money for the investors, they are making money for themselves also.

What are the investors’ potential benefi ts? The investors’ potential benefi ts from owning an interest in a real estate fund are similar to direct ownership of real prop-erty. The owners of a real estate fund are entitled to their portion of any potential rental income from the property, their portion of the tax benefi ts to shelter the rental income (depreciation and interest write offs from the mortgage), along with their portion of any potential growth or appreciation of the property over the hold period. One of the main benefi ts to investors is that real estate funds are not publicly traded on any stock market. Therefore the income (rent) that the buildings produce determines the value of the real estate and investors do not have to experience the potential volatility of publicly traded investments. Another benefi t to investors is the potential geographic diversifi cation that real estate funds can provide. Often times, real estate funds will have multiple properties in various geographic locations. Diversifi cation among property types and location can be pro-vided through real estate funds, however diversifi cation does not eliminate risk.

The pass thru nature of the potential income to the inves-tors also is able to be potentially sheltered via depreciation, 27.5 years for residential and 39 years for commercial (www.irs.gov), and interest write offs. Typically, by March 31st of each year the investors will receive from the sponsor company a form K1, which will show any rental income received along with their portion of the tax benefi ts to shelter that income. Another benefi t, which many investors have become very interested in as of late, is the “sticks and bricks” aspect of a real estate fund. Real estate is a hard asset that provides for a poten-tial hedge on infl ation. With the recent amount of government spending and “quantitative easing”, we may potentially see rapid infl ation over the next decade, which may cause the rent

that tenants have to pay to their landlords (the real estate fund investors) to increase. This increase in rent causes an increase in the properties value and is why real estate is considered to be a potential hedge on infl ation.

What are the investors’ potential risks? Along with potential benefi ts there are potential risks of owning an interest in a real estate fund. Investors need to be aware that, just like all other real estate, these are illiquid in-vestments, there are no guarantees that the fund will provide cash fl ow and/or appreciation, the fund may be affected by ten-ant vacancies, declining market values, and potential loss of

William F. Turner, Esq.(951) 371-2715

FINANCES

WANT A REPLACEMENT PROPERTY WITHLESS MANAGEMENT AND FEWER HEADACHES?

Properties available nationwide including: Offi ces • Apartments • Hotels • Triple Net • Retail • Energy Leases. I have completed over 200 1031 exchanges for investors, much more than most. $200,000+ equity required. Call Chris Miller, MBA for a free consultation.

877-313-1868 2522 Chambers Rd. Suite 100, Tustin, CA 92780Securities offered by Private Asset Group, Inc. 3070 Bristol St., Suite 500, Costa Mesa, CA 92626 (714) 545-5002. This document does not constitute an offer to sell or a solicitation of an offer to purchase securities. Any such offer shall be made solely pursuant to the Private Placement Memorandum. All investment strategies have risks. Past performance and/or forward statements are never an assurance of future results. Only a sponsor’s Private Placement Memorandum or Prospectus is controlling. Specialized Wealth Management and Private Asset Group, Inc. are not affi liated. The photographs above represent the types of properties available.

Real Estate Fundscontinued from page 2

continued on page 10



Issue# 909.05

9Investment


Property Update


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Recently Governor Arnold Schwarzeneg-ger declared a statewide drought emergency

and urged cities across California to impose mandatory con-servation measures. Unfortunately, it’s going to cost property owners. It’s a simple case of supply and demand; the less the supply and more the demand, the higher the water cost be-comes. Along with simple economics, many water districts are trying to achieve conservation by urging cities, counties, and local agencies to adopt and enforce drought ordinances that will have fines and penalties if ignored. Nearly every city in Orange County will be raising water costs, and not just slightly. Because of the severity of this water crisis, the AAOC would like to discuss different conservation options for our members, and some rebate offers that you may be eligible for when utilized.

“Nearly every city in Orange County will be raising water costs, and not just slightly.”

Today’s new technology is making it easier for prop-erty owners to be more proactive when looking to conserve. While it may cost you in the beginning to install and imple-ment these changes, in the long run you will end up saving money and the benefits will be worth it! One option is installing high efficiency toilets. These toilets use on average 20 percent less water per flush that a standard toilet and can save up to 8,760 gallons of water a year for an average family of four. If you multiply that by your number of units, you could potentially cut a lot of water costs. Another way to save water would be to install high-ef-ficiency washing machines. Depending on the washer pur-chased, anywhere from 20-60 percent less water is used than a traditional machine. Not only do these machines save wa-ter, but they also use less electricity. A majority of the cost of washing clothes comes from heating the water, so less water means less power. They may cost more to buy than regular

ones, but the long term costs are cheaper. Maintaining the landscape on your property can also drastically increase your water bill. Investing in a Central Ir-rigation Controller System (CISC) allows you to automati-cally program and control all aspects of your on-site irrigation controllers or timers at multiple properties through a central computer, as well as provides feedback of water usage. Many of these systems monitor current flow, check for breaks and leaks and turn off any offending zones or the main line if necessary. Because most water controller-run sites are time based instead of weather based, CISC’s can lead to immedi-ate savings in water costs. Another idea is rotating spray noz-zles for your sprinkler system. According to the Metropolitan Water District of Southern California (MWD), replacing your old pop up spray heads with rotating nozzles can save up to 6,600 gallons per nozzle over a five-year period. The rotating nozzle applies water more slowly and evenly on landscape and can lead to water savings of 20 percent or more. A more extreme alternative would be to replace your grass with synthetic turf. While some may be skeptical of aesthetics of synthetic grass, the new types of turf are sur-prisingly realistic. The Irvine Water District teamed up with MWD and the cities of Irvine, Lake Forest, Newport Beach, and Tustin and placed synthetic turf in front of certain build-ings and parks to show residents just how nice it can look. It is also said to be very durable and, depending on what com-pany you hire to install, will come with a warranty. Not only does synthetic turf not require water, it also does not require fertilizers, pesticides, or much maintenance. Not all cities in Orange County allow property owners to use synthetic turf in place of grass. The cities of Cypress, Garden Grove, La Palma, Mission Viejo, Orange, Santa Ana and Stanton do not permit synthetic turf. However, with the water drought being such a pressing matter some of these cities are taking another look at this option and their laws may change in the near fu-ture. The Metropolitan Water District of Southern California (MWD) is offering rebate programs for Multi-Family Resi-dences called “Save Water, Save a Buck” when certain water

conservation methods are acted upon. In Orange County the refunds are available through the Municipal Water District of Orange County (MWDOC), who is a member agency of MWD, and are offered on a first-come, first-serve basis until the rebate funds are used up. Rebates are offered for high efficiency toilets and washing machines in units. The multi-family rebate is for properties with five or more units. If you have fewer than five units, you are eligible to apply for the single-family rebate program. There are also rebates offered for Commercial Program Water-Saving Devices, in which apartment common areas fall under. Along with the high efficiency toilets and washing machines in common ar-eas; weather based and central irrigation controllers, rotating spray nozzles for pop-up spray heads, and synthetic turf are also applicable. To apply for these rebates through the Metropolitan Wa-ter District, or to receive more information about rebates, visit their website at www.mwdsaveabuck.com. You may also want to check with your local city hall to get updates on any city programs they might offer for water conservation. If you have any questions, please contact Emily Osterberg at 724-937-5550 or [email protected].

Emily Osterberg is the Director of Public Affairs for the Apartment Association of Orange County. Prior to working at the Apartment Association, Emily was an Account Execu-tive for Lewis Consulting Group. There, she had the oppor-tunity to work closely with many of Orange County’s elected officials and their staffs as well as gained knowledge and ex-perience in the areas of lobbying, fundraising, campaigning and polling. She began her career in politics as an intern for the Republican Party of Orange County.

For questions regarding this article, pleas call the AAOC at (714)-638-5550 or [email protected]

Drought and the Apartment Owner: Tips for a Smaller Water BillEMILY OSTERBERG Director of Public Affairs - AAOC

HELPFUL HINTS


Issue# 909.05





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investment principal. Due to these risks investors are recom-mended to perform their own due diligence as they would with any other real estate investment. A few hypothetical examples of the risks that investors need to be aware of are as follows: First, the investor chooses to invest into a real estate fund and six months later decides that he wants to liquidate his in-vestment due to an emergency. This may not be possible at all and therefore the investor would not be able to access his investment capital. Investors should not invest in a real estate fund unless they are certain that they have adequate reserves to carry them through an unexpected emergency. Second, the investor chooses to invest into a real estate fund and over the course of the holding period does not receive any rental income and also does not receive any appreciation upon the sale of the funds assets. This is real estate and there are no guarantees. Investors should verify before investing that the expected income from the assets in a particular fund is suf-fi cient to cover the preferred return. Third, the investor chooses to invest into a real estate fund and the lender, due to insuffi cient property revenues to cover the debt service, forecloses on the properties. In this situation the investor would lose his entire principal amount invested.These above examples are meant to show potential investors that investing in real estate funds contains the same amount of risk involved in all other real estate. There are absolutely no guarantees.

Conclusion Considering the recent volatility of the stock and bond markets along with the minimal rates CD’s and money mar-kets are providing, many of my investors have become very interested in the alternative investment that real estate funds can provide.

Dwight Kay is a licensed Registered Representative with JRW Investments, Inc. in Pasadena, CA. He holds the Series 7,22, and 63 licenses with FINRA (formerly the NASD) along with being a California Real Estate Broker. He can be reached at (310) 404-7297. The information herein has been prepared for educational purposes only and does not constitute an offer to purchase se-curitized real estate investments. Past performance/structure is no guarantee of future results/structure. Such offers are only made through the sponsor Private Placement Memorandum (PPM) that is solely available to accredited investors. All ex-amples shown are hypothetical and do not represent any par-ticular offering. IRC Section 1031 is a complex tax code there-fore you should consult your tax or legal professional for details regarding your situation. This material is not intended as tax or legal advice. Securities offered through Independent Financial Group, LLC, a registered broker-dealer, Member FINRA/SIPC. JRW Investments and Independent Financial Group, LLC are unaf-fi liated entities.

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Real Estate Fundscontinued from page 8



Issue# 909.05

11Investment


Property Update


Advertising/MarketingTrinitas CreativeAd/Marketing - Print & Web562-236-0090www.TrinitasCreative.comsee ad in the IPU

Apartment Lenders Arrow Mortgage(4 units or less)Contact: Vince Mele 562-822-5684see ad in the IPU

Fullerton Community BankMultifamily & Commercial(4 units or more) Contact: Haley Gifford714-578-7540see ad in IPU

Venture West FundingContact: Joe Mercado 310-531-8364www.VentureWestFunding.comsee ad in IPU

Appraisal Pacific AppraisalContact: Randy [email protected] ad in the IPU

Associations/ClubsApartment Association of OCContact: Valerie Teeter714-638-5550see ad in the IPU

Attorney Geoffrey D. ChinAttonery at LawEstate Plan, Trusts, Wills, etc.626-229-9971see ad in the IPU

Real Estate, Trusts,Tax AttorneyWilliam Turner951-371-2715see ad in the IPU

Banks Fullerton Community BankMultifamily & CommercialContact: Haley [email protected] ad in IPU

Bathroom Remodeling Pacific ReglazingContact: Eric800-557-2243www.pacificreglazing.com

Carpet & FlooringDrakes Affordable FloorsContact: Bob562 [email protected]

ChurchesSt. Stephen’s Lutheran Church Contact: Larry (pastor)714-871-17112311 E. Chapman in Fullertonsee ad in the IPU

Cleaning Cinderella’s Cleaning ServicesContact: Judy [email protected]

ConstructionHugo’s Plumbing & ConstructionBathroom Remodels909-935-9691 / [email protected]

Elevators TRE Elevators 818-509-0339

Exchange Companies Downstream ExchangeContact: Anthony800-743-1031see ad in IPU

JRW InvestmentsContact: Dwight Kay626-564-1031 x.119858-395-0932see ad in IPU

Pacific Financial ExchangeContact: Earl Salter562-863-1968see ad in the IPU

Exterminating Western Exterminator Company800-937-8398

Financial ServicesFidelity National Title Company800-488-0320see ad in the IPU

MCL Financial Group, Inc.Contact: Gary Flater800-692-6064www.MCL1031.comsee ad in the IPU

LRM InvestmentsContact: Leon McKittrick702-252-8801

Midpoint Financial ServicesContact: Chris Miller877-313-1868see ad in the IPU

Pacific Financial ExchangeContact: Earl Salter562-863-1968see ad in the IPU

Furniture Pacific Sun Casual Furniture 800-624-4385

Gates & Decking Ivan’s Gates & Decking Co. 800-482-6334

Glass & Mirror North OC Glass & Mirror 714-528-1403

Graphic DesignTrinitas CreativeAd/Marketing - Print & Web562-236-0090www.TrinitasCreative.comsee ad in the IPU

Handyman ServicesChristian Management Consultants Inc.Jobs Under $500 Fixers/Repos714-535-2918 All SoCal

HaulingVic’s Hauling & Cleanup Serv.562-946-1084714 879-7667www.illhaul.com

LandscapingDeLeon Tree Service& LandscapeContact: [email protected]

Laundry Equipment Excel Laundry Equipment 800-334-1824x127

MaintenanceBuffalo Maintenance, Inc.714-956-8371Fax: 714-491-0864www.BuffaloMaintenance.comsee ad in IPU

Mortgage Arrow Mortgage(4 units or less)Contact: Vince Mele 562-822-5684see ad in the IPU

Painting G & G Painting Co. 714-636-4650

Plastering Matthews Patch Plastering 714-840-3236

Plumbing Ace Pelizon PlumbingContact: Paul Young626-331-0701www.AcePelizon.comsee ad in IPU

Norwalk/La Mirada Plumbing, Heating & Air Conditioning800-238-5558www.laplumber.comsee ad in the IPU

Pool Service Mission Pool Service 800-390-7040

Pools & Construction Algorri Pools, Inc.Contact: Brian [email protected]

Property Management CENTURY 21 Ambassador(formerly Grisham-Joseph) Contact: Candy Livesey562-236-0102see ad in the IPU

Real EstateCENTURY 21 Ambassador (formerly Grisham-Joseph) Contact: James Joseph562-236-0088see ad in the IPU

Reglazing Pacific Reglazing 800-557-2243

Repiping Pacific Coast Copper RepipeContact: Pat [email protected] see ad in the IPU Roofing California Roofing 888-684-2626

Solar HeatingSolar Services800-57SOLARSolar Hot Water/Solar Pool Heatingwww.SolarGuy.com

Supplies Orchard Supply Hardware 888-746-7674

Tax Strategy Services MCL Financial Group, Inc.Contact: Gary Flater800-692-6064www.MCL1031.comsee ad in the IPU

Midpoint Financial ServicesContact: Chris Miller877-313-1868see ad in the IPU

Tax Wealth Inc.Contact: Bruce Jones800-300-4723 Ext 14see ad in the IPU

Termite & Pest Control Brothers Termite Company, IncContact: Bob [email protected] ad in the IPU

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Corey Bogardus

Michael Dinsmoor

Michael Dinsmoor

James Joseph

Corey Bogardus

Lisa Weeber

Michael Dinsmoor

Chela Arredondo

Heidi Aanderud

Julia Lee

Michael DinsmoorPhn: 562.236.0117

Corey Bogardus

15201 Leffingwell Rd.Whittier, CA 90604Phn: 562.236.0117Fax: 562.236.0139

INVESTMENT PROPERTY UPDATETHE ONE SOURCE FOR ALL OF YOUR INVESTMENT PROPERTY NEEDS

Investment Property Update, established in 1982, is an independent investment property newspa-per published monthly with an audience of Local Apartment Owners, Property Managers and Lo-cal Real Estate Agents.

Viewpoints expressed in the Investment Property Update are those of the respective writers, and are not necessarily held by the publisher.

The Investment Property Update accepts adver-tising from businesses desiring to reach the in-vestment property readership. No endorsement by the publishers is implied or should be inferred in any manner in regard to any specific adver-tiser. The publisher can not accept responsibility for the products or services offered through ad-vertisements. The publisher reserves the right to refuse any advertisement.

If your property is currently listed, please disre-gard this notice as it is not our intention to solicit other broker’s listings.

If you would like to advertise with the IPU, be added to our mailing list, or if you just have ques-tions you need answered, you may reach our Ad-vertising Director Laura Villa at 949.697.0420.

Advertising Information

You can email James Joseph’s assistant [email protected] free to also use the easy steps on page 7

Call James Joseph Today at

800-874-0715James JosephApartment Specialist

R.E. Lic.# 00819837

A Wealth Of Real Estate Information

www.jjipu.blogspot.com

James Joseph is excited about the launch of his online blog. For those who are unfamiliar with blogs, this is a website where Jim posts his thoughts and ideas about the real estate market and the economy. He also has live feeds from other invaluable websites with up to the minute news and re-actions to the real estate market, along with polls and an e-newsletter subscription. He is confident you will find this website extremely helpful and you will find yourself visiting it on a daily basis. You also can now visit the Investment Property Update on Facebook.com. Just type in Investment Property Update in the search field, and become a “fan” of the IPU today!

Visit this blog at:www.jjipu.blogspot.com

Investment Property Update, Issue 909.05

Documents

Transcript of Investment Property Update, Issue 909.05