”It was a very interesting tour today, thank you for organizing it! I got to
see some areas that I had not seen before. I would love to talk to the fund
manager about what kinds of loans they can do, terms, and conditions. As the
city official hinted, they are interested in 100+ units projects, which is
beyond my level. It also sounded that 10-20 unit buildings are sort of already
taken. It would be great if they could talk about a few projects, describing
the goals of the project and how they assisted, to put things in perspective.”
--Alexei Kudriavtsev, REAPS investor
“What a great contribution to the REAPS community and a real
value add experience. Congratulations on successfully pulling it
off. Here is my feedback:
Went well:
· Good, knowledgeable,
local speakers
· Active
and interested participants
· Good
overview of neighborhoods (though they avoided some of the seedier areas)
· Discussed
retail, multi-family, industrial, and office (i.e., not just primarily one asset
class); I really appreciated this part since I have been on other tours that are lopsided in only one
asset class
Considerations for improvement next
time:
· More
set up for interactive Q&A, perhaps with all/most of the speakers at the
end back at the main office for a wrap-up open discussion before everyone
disperses
· Although
there was some discussion of rental rates and an occasional on-the-market price
point thrown out, the main thing I still want and didn’t get was a sense of ROI
/ cap rates in the area. It would have been helpful to address that
directly, and also for the tour to
point out some recent actual completed sales along the way to show what an
investor can get for how much and what the estimated return would be.
I would
recommend doing this again, and I would recommend it to others. In fact,
it would be interesting to know what other areas would support the same model
and have tours in other towns. This area was
incentivized to hold it because they want the external influx of investment and
improvement, but other areas may be similarly motivated or look at it as a
local business generation opportunity as well. At minimum, I’d bet that a
local knowledgeable commercial broker could round up some interesting speakers
and have a captive audience of investors for a few hours, all co-coordinated
courtesy of REAPS. “
--
Scott
Price, REAPS volunteer, Active Commercial Investor
“We had a 'full house' in
the 'Chamber', as well as, 'standing room only' on our bus. We met at the Rainier Valley Chamber of Commerce. Our own REAPS
volunteer, Wendy, set the tone for a very nice opportunity. We heard from past,
present and future Chamber Presidents. Each helped us to become better
acquainted with REI opportunities in their local market. For me, this
highlighted the role and value of our local Chamber, as an 'ally' to Investors.
There were additional notable local contributors that joined our Bus Tour, at two or three stops, of several minutes each. Over all, I
rate my experience as having a wonderful contribution to 'rounding out' my
experience as an investor. As a point of illustration, I am going to contact my
local Chambers, in Pierce County, including Tacoma, to replicate a South Sound
version of today's experience. “
--Sharon Zevenberger,
REAPS volunteer
“Excellently arranged, very well synchronized and
coordinated. Both the information and the networking was wonderful. I
hope we do more of these informational type tours…it is good, just to get to
know the city and the municipal connections. Very well done.”
--Steve Olds, REAPS investor
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