Campbell Reserve Apartments

ApartmentVestors Acquisition Announcement – Campbell Reserve Apartments

ApartmentVestors is pleased to announce the acquisition of Campbell Reserve Apartments located at 1703 Campbell Parkway, Joplin, MO, a 192 unit multifamily property.  The property was purchased by their ApartmentVestors Bravo Fund private equity fund.  The property was 92% leased at acquisition.  This is ApartmentVestors first acquisition in the Joplin, MO market.

Spencer & Gary Cullor represented ApartmentVestors in the acquisition.

ApartmentVestors is a Kansas City based multifamily real estate firm actively seeking multifamily real estate investment opportunities in the Kansas, Missouri, Oklahoma, and Texas markets.  ApartmentVestors and their private equity partners own and manage over 20 million in commercial properties.

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Amenities Renters Want

Top Amenities Rents Want and How They Can Increase Your Business

There is really good survey and article published recently by ForRent.com discussing the top amenities that renters want (I have included the link to the article).  It got me thinking about our properties, and how we’ve used new amenities to grow our business.  Amenities are a big deal to your renters and they should be a big deal for you too.  By offering amenities your renters want, you can increase occupancy, increase rental rates, cut turnover and most importantly, the value of your property.

For example, we have a property that we were having higher than normal turnover on.  We couldn’t figure out why, so we asked our tenants.  Through a survey, we found out that the one thing our renters disliked most was, taking their laundry to the laundry facility.  They were leaving us to go to properties that offered washers and dryers in the apartments.  Now that we were armed with this information, we started looking for solutions.   What we found is that we were able to reconfigure a closet and add a washer and dryer unit into each apartment.

The results were amazing!  After installing the washer and dryers in the apartments, we were able to rent each one of them for a premium of over $125 per month more. Over a year, that is over $1,500 in additional income, enough to cover the cost of the project in 1 year.  Not only that, it increased the value of our property by over $21,000 per unit. Talk about ROI!

Now, I know not every apartment can be renovated to add a washer and dryer, but almost every property has something they can add to improve their tenants lives.

Some great aminities we’ve added recently are:
> Dog parks
> Washer and Dyers
> Updated Laundry Facilities
> Updated light fixtures
> Playgrounds
> Tanning Booths
> Hardwood floors
> Ceiling fans
> Workout facilities

The key is focusing on what your renters and potential renters are looking for.  Not every aminity has to be big and flashy to be effective.  Amenities can add a lot to your renters lives and your own pocket book!

Read the ForRent.com article on aminities here

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Real Estate Investment Interview – Going from Small to Big

by Spencer Cullor February 29, 2016

Going from Small to Big in Real Estate Investment Interview with Spencer Cullor and Joe Fairless Getting started and going from single family homes to large multifamily apartment complexes is a journey.  Sometimes you have to make many different adjustments along the way. Listen to real estate investor, Joe Fairless, interview ApartmentVestors founder, Spencer Cullor […]

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Multifamily Investing – What is driving Multifamily demand?

by Spencer Cullor February 20, 2016

Multifamily Investing and Growing Multifamily Demand – What is behind it? People ask me all the time, why is the multifamily market so hot?  Multifamily investing is hitting pre-recession peaks and growing. What is behind the exploding multifamily demand? How long will it last and do you see an end in sight? We do believe […]

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Happy Holiday’s & A Prosperous New Year from ApartmentVestors!

by Spencer Cullor December 23, 2015

All of us at ApartmentVestors, We would like to wish you all a very Happy Holiday Season and a Prosperous New Year!! Thank you from the bottom of our hearts for making our 2015 very special! See you in 2016!

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5 Lessons From Commercial-Real-Estate Financing for Entrepreneurs Seeking Funding

by Spencer Cullor September 8, 2015

  This is a very good article to keep in mind for those of you planning on raising capital on your own for your projects.  We do something similar for every investment we put together for our investors.  It can be very effective.  I definitely recommend keeping it concise, asking for everything you need up […]

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Three Key Investment Real Estate Metrics You Must Track for Success

by Spencer Cullor February 24, 2015

Three Key Investment Real Estate Metrics You Must Track for Success Keeping on top of your real estate investments is critical to them reaching their peak performance.  Just like your car where it’s important to monitor your oil and gas levels, there are three keys metrics you need to monitor so your real estate investment’s […]

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Hiring Property Management – Frequently Asked Questions

by Spencer Cullor February 3, 2015

Questions to Ask Before Hiring a Property Management Company (Frequently Asked Questions) Hiring the right Property Management Company can be one of the most important decisions you make with your investment property.  The property management company will have a huge effect on your property’s performance and your piece of mind.  The right company will maximize […]

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Property Management Companies, What Do They Do?

by Spencer Cullor January 27, 2015

Property Management Companies, What Do They Do? A great property management company can be a huge asset on your properties.  They can take care of all the day-to-day activities allowing you to focus on growing your business instead of running it.  They can also give you peace of mind that someone is always looking out […]

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Property Management Company, Do You Need One?

by Spencer Cullor January 20, 2015

Do You Need a Property Management Company? Real estate property management is one of the most essential aspects of owning investment real estate. Property management is the number one reason investments fail or succeed. Quality property management is more essential in multifamily investments than any other due to short-term leases, the number of tenants, maintenance […]

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