HOW TO BUY, REPOSITION AND RESELL INCOME PROPERTIES FOR MAXIMUM PROFIT
an interview with Daron Campbell, Managing Partner: RE/MAX Commercial Real Estate
The top-selling commercial agent in California, legend Daron Campbell has sold over $1 Billion in real estate, and oversees over 70 agents. In addition, Daron has built up his own personal investment portfolio, and currently owns nineteen apartment buildings.
How did he do it?
This UCLA graduate studied economics, then spent some time with Marcus and Millichap, focusing his attention specifically on the commercial market. “In L.A., there are always more renters than there are apartments. It was clear that the commercial market would always be growing.”
Daron quickly caught on to what he describes as “inefficiencies” in the commercial market. While one building owner charges $700 a month for a typical one bedroom apartment, the owner across the street is commanding $850 for a similar unit. “There are great discrepancies in the perceptions of building owners as to the actual potential of the property.”
But what an owner determines to charge for rent will affect all the factors for valuation: gross rent multiples, costs per unit, costs per square foot, and even the capitalization rate calculation. A property commanding low rents, even with a tired appearance, can often be repositioned for a profit in as little as 18-20 months.
Hear more about Daron’s strategies, including:
- how to apply them to your market
- how to build your commercial investment portfolio even if you need to start small
- how to contact Daron Campbell directly
This exclusive interview is included on the American Apartment Owners Association’s CD series, Real Estate Investment Secrets, twelve exclusive interviews with industry experts that will supercharge your ability to locate the best investment properties and manage or sell them for maximum profit.
Real Estate Investment Secrets is available for purchase from American Apartment Owners Association. Join as a Premium Plus member, and receive all of the benefits of our association including Real Estate Investment Secrets as our gift for joining. Visit www.joinaaoa.org for more information.
Check back for next week’s feature, “Finding the Right Real Estate Broker”, an interview with David Potarf, Director, National Multi-Housing Group: Marcus and Millichap.
American Apartment Owners Association offers discounts on products and services related to your commercial housing investment, including tenant debt collection, tenant background checks, insurance and financing. Find out more at www.joinaaoa.org.
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