Daytona Beach Multifamily Property-Off Market Acquisition

Good Afternoon

Its Kristine Flook over here Urbanize PropertiesCommercial Real Estate in Florida

Steven Libman and I have the pleasure of hanging out today for a few minutes and talk about a recent transaction that we have the privilege to work together on Lake Forest is the name of the asset in Daytona Beach. Thank you, Steven, for spending some time with me this afternoon. Yeah of course.

Congratulations to you and your team for a monster project we got closed!

Yes, Janet Crucet and us are very glad we were able to work with you and your group to get this over the finish line. Let’s talk about how this kind of unfolded.

I know when we first connected which was probably about two years ago, we were sourcing some acquisitions for you. I think it was some land and mostly at
that time you were looking for self-storage. Yeah we were building about 380,000 square feet of self-storage and around the Orlando area so we are looking actively for new projects and things like that and looked at a couple of deals together never got one executed and we were newer in the space and we
did a couple of deals right but we did like $10-15M deals and so we sent a couple over underwrote a couple put a few LOI’s out but didn’t get anything done but yeah you just kept bringing us some deal flow and really appreciate us, you guys, keeping us in the loop as to like what was going on. Your brought us some multifamily deals to us too and you know we I think a lot of times you would bring us a deal while were raising capital for an existing project because we’ve done just about nine deals in just under three years so we have been hustling!
So have not had one that popped while we were raising capital and finding other deal flow until LAKE FOREST!!!

Yes, there we go we started that on in like October/November last year is when we started working on it………it’s taken some time. There were two deals that were on the table one of them had a little bit of time clock that needed a fast and Lake Forest did not have so much of a time clock that required……yeah so you were working on the other raise So, it was interesting because you sent this deal over to us and I recognized the name of the owner and I reached back out to you and I say “Hey I know these guys. I met Lloyd Jones up in Manhattan like eight
years ago and we ate some over priced eggs at the Harvard Club ” and I kept in touch with Chris but I didn’t know about this project right and I think it was probably because our paths hadn’t crossed on this level of deal before.

They’re working in the $40-100M space and we were in the like $5-15M space.
Anyway, we got back on the phone with them and we kind of very transparently told them where we were at with our equity and where we were at and looking to go. This deal was a little bit different. It wasn’t a straight acquisition. It was a recapitalization and the difference if you don’t know is that a recapitalization basically exchanges equity one equity group out for another. So the owner when he goes in and executes on a deal, puts his own money into the deal and then on a recap you take that owner out right and you can recapitalize them. And that gives a good opportunity for us because we have a real solid look at the financials. We know that they’ve owned it and operated it for 18 to 24 months and we can see the historic and we know where it’s going, we know
what the challenges have been and it really gives us a good opportunity to underwrite the deal differently than an acquisition without the 60 day timeline right this is a $12.2M equity raise on a $42M acquisition.

Our biggest equity raise to date was $4M so this was triple right and we committed to it but we were very transparent about the fact hey we don’t know how long its going to take us to bring this capital in and they said that’s okay we would like to work with you guys and they worked with us on this project
to little bit longer that we would have liked but it close we’re good to go.
The net operating income is increasing, the value of the property has increased by almost $8M since we went under contract on it. So that’s a huge win for us and our investors and you know kudos to you and your team for just staying in front of us bringing us deal flow that we were asking for and then even some one of opportunities like this that we didn’t ask for right? We weren’t saying “Hey Kristine bring us $50M deals” but you said hey I had this conversation this is interesting, this is why I think its interesting for you. We went and had the conversation and it turned out that that really open up a whole new path for our business and we will not be doing $10M deals anymore right. We are going to be sitting in that $40-75M space now. So it’s change the trajectory of our business and you guys were just consistent bringing deals. Ill be honest sometimes you’re alitlte bit
like “hey did you get my email, text me a bunch of times and Travis and I were buried in something else.”
Travis and I were looking at each other this lady is relentless and it turns out to be a fantastic quality because we knew that you weren’t giving up on us and you weren’t giving up these deals and we just had to really be clear about hey here’s the expected timeline when I can get back to you because we’re are buried in this thing and once all that happened communication was solid. Once we got under
contract it was like okay LET’S GO DO A DEAL!

Fantastic thank you for adding all of that we again Janet Crucet over here and we just really appreciate Urbanize Properties. We liked working with solid people like you and your team like you said with Travis and I know that Florida isn’t the only state that you’re looking at for properties. And I know we have touched bas on other states as well and so that’s great. A definitely looking forward to the future and I guess well be working on something before the end of the year. Hopefully before the end of 2021.

Yeah, still got a lot of runway left in the year. We just finished this deal and so we’re taking a couple of weeks to take a breather and then we’ll be back at it, underwriting new deals, and looking for new acquisitions and yeah, it’s a great have a partner in you guys knowing that you’re not just Florida specific. We’ve talked about deals in Ohio and talked about deals in Carolinas and Texas so its nice to have some partners that have a more national reach because not everybody does, right? Most people have their set geography and its good to know that you are finding a lot and all the deal flow that you guys brought us has been OFF MARKET which has been fantastic It’s a testament to you and your team and staying in front of the sellers and letting them know you have
real buyers that are looking to make offers and yeah we expect to make a few more hopefully by the end of the year!

Excellent! Anything else we should add to our to our listeners here to finish this off? No I think if you’re looking for a property right, if you’re looking to buy or sell make sure you’re reaching out to Urbanize Properties. We have done about $200M in acquisitions over the last 30 months or so and we’ve worked with the very big houses (broker companies) all the way down to very small houses.

But it all comes down to one thing right……WHO DO YOU KNOW LIKE AND TRUST Who is bringing you deal flow? Who can you work with? And Kristine and her team are fantastic so make sure you reach out to Urbanize Properties, Kristine and get on their list because their deals they go fast! Yes they do!

Thank you so much for mentioning that over here in South Florida. Big ole sunny day with a few palm trees and we just look forward to meeting with you and your team on the next opportunity!

Thanks for hanging out with us today for this quick moment here with

• Steven Libman Integrity Holdings
• Kristine Flook Urbanize Properties
• Have a fantastic day! Thanks Kristine

Jacksonville Office Flex Property SOLD

Good Afternoon Kristine Flook Urbanize Properties

Commercial Real Estate in Florida

I get to hang out today with this gentleman and his name is Leigh and we just recently had a successful transaction closed together. So I passed by his office that is located here in Fort Lauderdale.

I wanted to come and meet him and see about perhaps some future opportunities we can work on. I just wanted to have him hop on here for a minute and talk about how it was to work with Urbanize Properties.

Good Afternoon this attorney Leigh Joceyln and Urbanize Properties we had a wonderful closing here commercial closing in the Jacksonville area commercial property. And as Kristine said we are here in Fort Lauderdale here with the Law Offices of C. Anthony Rumore PA. And our office does commercial closing, residential closings, representing buyers, sellers, title work and things of that nature. And we had a very nice relationship and closing. It went very smoothly. It sure did and a quick time and that’s pretty pretty good for commercial.

Excellent. Thank you so much.

We appreciate it and we look forward to working together in the future. Yes Thank you. Kristine Flook

Commercial Real Estate in Florida

In today’s active commercial real estate market, aligning yourself with the right title company and other important people (attorneys appraisal and lending) during a transaction is key to a successful closing. This off market property is located in the Jacksonville market. The buyer is located in California and the title company and real estate brokerage companies located in South Florida. Coordinating everyone in different time zones and navigating through all the moving parts working as a team consummated a successful commercial closing. Creating a win-win for all parties. We will for sure do business together in the future.

The closing of this commercial asset is possible due to continuing cultivating relationships between brokers and past clients.

CHECK OUT OUR LATEST BLOG URBANIZE PROPERTIES

Kristine Flook- Urbanize Properties

Commercial Real Estate in Florida

I have the privilege of hanging out today with Mr. Sterling and he is here from Omaha Nebraska and he is in South Florida checking out some real estate.
Its a combination of multifamily and some development sites.

So just wanted to hop on real quick and just say:
“How important networking is your net worth.” So I am just going to let him talk for a couple of seconds.
Yeah its extremely important its kind of how me and Kristine met. Kristine found out I was coming down into Florida to look at hotel development site that we are looking at and hey, great time to get together not too far away from her where the hotel I’m staying and we have sat here we have talked about business. We talk about working together. We talk about different people that we know in the business and how we can best help each other.

And I think that’s a really really key piece and a really important thing to do when you are in this business. Because its really about who can you help and who can help you. And the network is such a big part of that and was telling Kristine a big part of me getting into larger deals and working with other investors which is continuously building that network.

So doing that is truly key to leveling up not in life but also in your business as well. So your network truly is your net worth. That’s a very true statement. But just getting out there and introducing yourself to people.

Kristine is awesome. She’s hooking me up on some places to eat and I go see and (get your Cuban Flavor on). But the thing that really peaked me about Kristine is just how she reaches out to help. And she made a call right here on a possible deal that we were going to look at and turned out wasn’t too big of a piece of land.
But just how she hop on that phone cause she has the connections and wanted to help me out was amazing to me. So I will always hold that here.

But that’s the power of networking and just having a really strong network to make things happen. I appreciate that.

Thank you so much. I really enjoyed visiting with you today Sterling Anderson. Many blessings to you and your family and look forward to doing the future together. Absolutely!

Commercial Real Estate in Florida

CHECK OUT LATEST PROPERTY MULTIFAMILY PROPERTY TOUR IN LITTLE HAVANA

Good Afternoon Kristine Flook Urbanize PropertiesCommercial Real Estate in Florida. I am back in Miami checking out this fourplex here in an area called Little Havana.
This is an excellent location very much in the heart of the walkability to restaurants and stores and all the Latin night life here in Little Havana.
This building is four units all two bedrooms, one bath. Currently, two units are rented yearly and there are two units that are Airbnb. The two units that are yearly bringing in $1450 a month. And the Airbnb, which are again two bedroom one bath each can bring in at least $2500 a month for just that one Airbnb unit.
This property features six parking spaces and four storage units in the back of the property.
The tip I wanted to share with you today is has you’re hanging out with me today here in South Florida. Boy, is it a hot one! Is that one of the things that I do for my clients is that I take videos and get the information and walk the properties for the clients that I have that do not live here in Miami.
Thanks for hanging out with me today and checking out this fourplex.
What a great investment property here and I just wanted to say thanks and we will catch you on the next tour. Investment properties in South Florida off market properties is our focus for our clients and we look forward to assisting you with your next investment in Florida.
Visit https://www.urbanizeproperties.com for more information about South Florida real estate

CHECK OUT OUR LATEST MULTIFAMILY PROPERTY TOUR IN SOUTH FLORIDA

Good Afternoon, Kristine Flook, Urbanize Properties, Commercial Real Estate in Florida.

I am excited to hang out with you for a couple of minutes today. I am in an area called Fort Lauderdale, close to Los Olas. I’m in a quaint little pocket that offers residential and a handful of multi-family properties. The building behind me is asking $1,200,000. It is 14,000 square feet, just under 10 units, 3,400 square feet, built in 1941.

Some of the value add options here with this property that I am touring today behind me, that it has parking and it also has a lot attached to this building that you can build and add extra income, add extra units. If you can buy it at the right price, this is a quaint pocket that definitely you can up rents in the area.

I wanted to share with you a tip today, because chances are you landed here today because you are interested in commercial real estate in Florida, Urbanize Properties. The tip that I’d like to share with you is when you’re in an area that is historical, you want to make sure that you’re working with the right consultants that can help you designate with the right team, how to maneuver historical subdivisions within this area of Fort Lauderdale.

Kristine and Janet at Urbanize Properties, we are the right consultants to help you with this navigating step in purchasing real estate in Florida. Again, my name is Kristine Flook, Urbanize Properties, look forward to seeing you on the next tour. Have a fantastic day. Check out our website for additional information for Commercial Real Estate in Florida. We look forward to connecting with you and discussing your investment goals in South Florida

COMMERCIAL REAL ESTATE IN FLORIDA

Good afternoon, Kristine Flook, Urbanize Properties. Commercial Real Estate in Florida.

Chances are you landed here today because you’re serious about buying Commercial Real Estate in Miami. I am your go-to source for all things Off Market in Miami. I’m in an area called Little Havana and behind me is a 15-unit building. It’s actually a client of mine that bought the land a few years ago and is building 15 units.
All one bedroom, one baths. They each come with a washer and dryer. Has a secured entrance, adorable, cute little courtyard and it also has a few balconies on some of the units. There are five floor plans to choose from.
Chances are you landed here today because you are serious about buying Multifamily in Miami. And one of the tips that I’d like to offer you today is one of the services that I give to clients that are not in town is I do tours for them, walk properties, take videos, take photos so the out-of-town buyers and investors that I’m working with have a chance to get a grasp of the area.
You landed here today because you’re serious about buying Commercial Real Estate in Little Havana. This is a great area close to Brickell and Miami Downtown area but you don’t have to pay the big prices. This is an area that I’ve been selling real estate for over 15 years. Look forward to helping you and helping you with your real estate investment in Florida.
Again, I am Kristine, all sources for Commercial Real Estate in Florida. Don’t forget to hit the Subscribe button. Thanks for hanging out with me today. Look forward to seeing you on the next one.
Thank you!

COMMERCIAL REAL ESTATE IN FLORIDA

Good Afternoon

Urbanize Properties, Kristine Flook over here in South Florida. I’m actually here in Miami Beach. Chances are ya landed on my channel or my page because you’re looking for an investment in Florida.

Well, I am here today at a very boutique property in Miami Beach.
It’s a 12 unit condo and this awesome zen garden behind me.
We’re gonna go in and check out this one bedroom, one bath unit that’s for sale. I currently have it on the market and it’s a client of mine that’s owned it for probably about eight years could see the kitchen there behind me and we’re here in the living room.

It’s a corner unit and it is a low maintenance property monthly and here’s the one bedroom and we also have the bath that is inside the bedroom. This currently is for sale in Miami Beach and this is a great investment because you can rent for six months so that’s a great feature that this boutique building offers here in Miami. Again, this is a one bedroom, one bath 700 square feet unit investment for sale in Miami Beach.

If you’re looking in Florida for your next investment, hit up Kristine Flook. Don’t forget to subscribe to my channel hit the notifications look forward to seeing you on my next investment tour.