Do you intend to invest this year?
CREI Partners, LLC
We partner with savvy entrepreneurs to make the most of your time and money.
Do you have plans to invest in at least one real estate syndication deal before the end of this calendar year?
If that’s something you aspire to do but are waiting for the right deal, there are a few steps you need to take to be ready when the deal is announced.
1. To invest in a deal, you need to be a verified investor in our investor portal. If you are on our email list but not in our investor portal, and have the intention of investing when a deal is announced, I strongly encourage you to sign up in our investor portal https://creipartners.invportal.com/signup. Once completed, I will reach out to you to verify your account.
2.?Assess Your Finances: Evaluate your current financial situation, including your available capital for investment. Consider your liquidity needs, diversification goals, and any constraints or limitations.
3. Remember, it's crucial to consult with legal, financial, and tax professionals before making any investment decisions. They can provide personalized advice based on your specific circumstances. Creating a network of professionals to support you, prior to a deal, will allow you to confidentially make the decision to invest and handle the logistics of signing legal documents and wiring funds when the time comes.
Despite the unique challenges of the current market, there are still viable options out there. Wayne is constantly underwriting deals to take swift action when the numbers line up, but we need to clearly understand your intention as an investor to support the deals we are going after.
Thank you for considering CREI Partners as your investment partner. We truly value your interest and are committed to delivering exceptional results.
Enjoy!
The Ivy at the Galleria
We continue to work on renovating apartment units as they become available and while managing CAPEX and OPEX costs.?During May, we evicted the last 6 residents with large outstanding balances (in addition to the units that were evicted in April).?These were the final 'hold-out' residents from the takeover and we expect these large delinquency issues to cease moving forward as we lease to qualified prospects.?This came as a welcome relief as the Houston eviction courts are still backlogged from the moratoriums imposed by the pandemic.
We are excited as we now have possession of those delinquent units to now renovate and release at the pro-forma rents.?To date, we've renovated 22 units and there are another 8 units currently in the renovation process.?Upon completion of the 8 units in process, we will have renovated 30% of the property's unit interiors and successfully leased all of those units at or above the projected pro-forma.?
Grace Space Storage
Net operating income is trailing behind forecast due to a heavier accrual for taxes and insurance than was included in the forecast.?If we determine we have over-accrued for these items, we will release that amount in Q4, which will pop the Q4 distribution.
Our lock change-out last week has gone very well. We’ve been able talk with each of our 94 tenants.
As a part of the lock change-out policy, we have executed new leases with each tenant which are compliant with Alabama law, which has some of the strictest storage laws in the country.?
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The cost of the lock change-out is being accounted for as a capital cost and not charged against NOI.?We did this because we overfunded the offering and decided to use the overfunding for the security upgrade and?new signage.
The Crest Build-To-Rent
We are excited to report the curbs for the roads are complete! The roads are in progress with the completion estimated for the end of June.?As soon as the roads are completed, we will be able to submit slab permits to accelerate construction.?We are pushing to have those permits by mid-late July with the completion of those homes in October timeframe.
?We continue to be 100% leased! The last 4 leases were completed at a rate that beats our pro-forma.?Our team is working through the early stages of pre-leasing new homes that we expect to have available this summer.?We are very pleased with the progress and the work BG Realty has done in managing the existing homes and their focus on leasing.?The website,?www.thecresthomes.com, has been a great boost to our pre-leasing efforts.
We had the best time at our last meetup! If you missed it, don't worry, where's the video.
I found the discussion about?the advantages of business, RV, and boat storage as well as?multi-family in the current climate considering insurance, property tax, and interest rates to be particularly interesting.
CREI Partners?offers both 506b and 506c investment opportunities. Our 506b accepts both Sophisticated and Accredited Investors, while our 506c offerings do require you to be an Accredited Investor.
Click?here to learn more about what it means to be an Accredited Investor. Click?here?to find out what it means to be a Sophisticated Investor.
Regardless of what type of investor you are, let's chat. I want to know how I can help you on your investor journey and what your goals are so we can reach them together!