By Michael Ross
Senior Vice President, Asset Management & Entitlements
There are a number of ways to make money in real estate. Some strategies include: buying properties “off market” that have not been widely seen by buyers; purchasing in a temporary “illiquid” market and waiting to sell when the market is moving more efficiently; managing intensely-maximizing revenues and minimizing expenses; adding value with capital improvement dollars or with proven asset management processes; or acquiring in a rebounding market and then riding the wave to higher values. These strategies can quickly produce profits, especially when you have them all working at the same time.
Although the strategies mentioned above have their advantages, my personal favorite is making money on the buy. The key to this strategy is proper due diligence. Whether we found the opportunity scouring through hundreds of sites or meeting with a trusted land owner, all of the deals that enter our pipeline go through a rigorous examination of the properties physical, zoning and environmental characteristics.
To help us continue initiating comprehensive examinations as Rockspring’s transaction activity continues to increase, we are pleased to announce the addition of Will De Young to our due diligence team. De Young will be a critical player for the company in the years ahead.
A great due diligence team is the key to making money on the buy, and having De Young as a part of the team will further help us with this process.