So I passed my broker exam and I’m in the car driving by properties that I own and manage in Oakland. I’ve been working towards this moment for months but sometimes wonder why? Property management is a difficult business to be in. It never seems like the job is complete and its generally thankless. But I’ve decided to do it, offer management services, if for no other reason than to offer a reasonable alternative to the mediocre companies out there. Most owners are just down right unhappy with the results.
Myerhoff & Associates, Inc.
Commercial Real Estate and Property Management.
Are you unhappy with how your apartment building is being managed? Do you tell yourself “there must be a better way” to handle this tenant situation? Are you mad because your current property manager bills you for EVERYTHING and hasn’t even visited the property in months? TRY MYERHOFF & ASSOCIATES.
I manage other people’s buildings the same way I manage my own! Customized to fit your needs. And I select just 5 clients per year to work with. Give me a call to discuss 415-812-4450.

Filed under Contact Nick · Tagged with Nick Myerhoff, property management, oakland apartment buildings

Recently I had the opportunity to see my friend Mark Lipsett from Pacific Western Bank speak about the East Bay Multifamily Outlook in 2017, and more generally, the state of the multi-family market. This was put on by our trade group East Bay Rental Housing Association, EBRHA which is a fantastic resource for anyone owning income property in Alameda county.
Mark is a banker, so this was delivered through a lending lens, which is to say a relevant one based on data from his institution.
My big takeaways from the talk were the following:

• Rates are up 33% since the election
• The vacancy rate is up from 4.2% to 4.7%
• Construction permits are down 15% from last year

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Filed under Market Conditions, Uncategorized · Tagged with property management, east bay apartment broker, first time investor, oakland multifamily investment summary, east bay investing, oakland rental units, real estate

For the past two or three years I have been bringing my daughter Mathilda with me on occasion to look at properties with me. On a hot day last week after running around Oakland looking at multi-family properties for sale, I stopped to have a break with her and enjoy a Slurpee. Most of the apartment owners that I know in the Bay Area find ways to involve their family members in their work.

Nick with Daughter Mathilda taking a break after a hot day of previewing properties

Filed under Interesting People I meet, Uncategorized · Tagged with inheriting wealth, passing real estate down to children, property management, cash flow for families, children and family work, family business

Last week I toured a 19 unit apartment complex in Castro Valley California with a friend and buyer named Mark. We brought along Karen Bergendahl from CWP Property Managment in San Leandro to help us evaluate the property and determine upside potential. Karen is one of the few real professionals in the apartment business who actually adds value.

Karen Bergendahl CWP Property Management

I have worked with Karen now on two multi-family projects. She has gone well above the call of duty and met with me and my prospects on numerous occasions to help us review income and expense on various properties. It’s very difficult to find an outstanding proeprty manager. Most owners complain about their off-site managers and feel they don’t adequately protects them from spiraling expenses. Karen is the opposite. She will actually spend time with clients and prospects even before they have signed a contract to work with her company. (more…)

Filed under Property Management, Uncategorized · Tagged with cash flow properties, property management, Castro Valley investing, East Bay managers, San Francisco property managers, multi-family investing

I had the pleasure of listening to Richard Knudsen talk about the apartment market in the Bay Area at the local IMF meeting. Richard is an extremely knowledgable veteran broker who is respected by many in the industry. Later I met with Richard to discuss the multi-family housing market and brokerage business in general. Below are the slides from his talk, please take a look at slide #6, it speaks for itself.

Presented By: Richard Knutson, CCIM

Apartment Forecast 2012 for the San Francisco Bay Area

Filed under Investing in Multi-Family, Market Conditions, Property Management · Tagged with capitalization rate, investing in apartment buildings, property management, east bay apartment broker, cash flow, bay area wealth builders, investing, job growth, apartment buildings in the bay area, cap rate, apartment building sales, commercial real estate, purchasing commercial real estate in the san francisco bay area, cash flow multi-family real estate, cash flow property for sale, investing in multi-family real estate