In April 2022, Park Plaza Apartments sold for $4.2 million, providing Chavis and his investors with an astonishing 62% return on their investment during a global pandemic.
TAMPA, Fla. (PRWEB)
07 April 2022
There is an old joke that goes, “Those who can, do; those who cannot, teach”. Although this is not true for most teachers, it seems to be true for many people who call themselves gurus. When you look closely at many of the top real estate gurus, a lot of them don’t own a lot of property. Instead, they earn the majority of their income by “teaching” others to invest.
With real estate investing becoming increasingly popular among retirees and millennials, there is an increase in the number of “real estate gurus” who claim they can teach anyone how to invest in real estate, and that it is the best way to “get rich quick”. ” pattern there is.
Bryan Chavis, author of the Simon & Schuster bestseller “Buy It, Rent It, Profit!” set out to prove that real estate is a great investment by fully documenting its acquisition of Park Plaza Apartments, a $2.6 million multifamily property in St. Petersburg, Florida, over a three-year period on its website and its social networks.
In 2019, Tampa/St. St. Petersburg was considered one of the hottest rental markets in the country, with many investment properties considered overpriced. In April 2022, Park Plaza Apartments sold for $4.2 million, providing Chavis and his investors with an astonishing 62% return on their investment during a global pandemic.
“At $2.6 million, many people thought I had overpaid, but using my SEOTA™ process described in the book, I could see there was much more value to be found” , says Chavis. “People’s opinions mean nothing to me. Everyone thinks the market is collapsing. It’s about what your research reveals and how you think your potential tenants will react”
SEOTA™ stands for Strategic Target Area Appraisal, a step-by-step process to assess a property and determine if it is a good investment for you. Fully featured in Bryan’s best-selling “Buy It, Rent It, Profit!” SEOTA analysis examines key demographic and economic indicators that reveal whether an area is worth investing in or not.
Today, St. Petersburg has become a frequent target for relocations and business expansions, causing an increase in the number of tenants in the demand pool. According to CoStar, the city has seen rent growth of 16.9% over the past 12 months, surpassing pre-pandemic levels to all-time highs. With over 2 million square feet of office space, over 30,000 jobs and a downtown population expected to grow 30-40% over the next five (5) years. Additionally, 12 minutes north of Park Plaza is the Gateway Business District, St. Petersburg’s premier job center with over 114,000 jobs.
“These fundamentals are overlooked by most real estate investors, as they are taught to pass ownership to third-party property management and only bet on asset appreciation over value addition.” Chavis mentions. “I was bullish on the downtown St. Pete market and it was all about proving it on a time series” “Months later we have a multi-million dollar pier built just blocks away. ownership homes and increased growth at all levels”
About Bryan Chavis: With over twenty years of real estate experience and as the founder of Buy It, Rent It, Profit Education, Bryan M. Chavis knows all phases and aspects of working with properties. rental. Bryan is a top real estate investment coach with approximately 50,000 certified and trained investors nationwide. Best known as the author of Buy It, Rent It, Profit!—the #1 real estate investing book of all time—Bryan Chavis has challenged and changed the way tens of millions of people around the world view rental investment. He is an entrepreneur, educator, and investor who believes everyone should have access to high-performing rental property ownership. To learn more, visit buyitrentitprofit.com or follow @bryan.chavis on Instagram
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