THE FUERST FAMILY
RODRIGUEZ & AVIRAM FAMILY
The Fuerst family recently sold two separate commercial buildings and wanted to couple the money together in order to purchase their exchange properties.
Through the 1031-Exchange process Kris German coordinated the purchase of FOUR separate apartment buildings... all of which closed within the time frame needed... and with financing!
By utilizing the 1031-Exchange process, the Fuerst family increased the size of their investment portfolio, dramatically increased their revenue potential, and diversified their geographic areas of ownership.
“As a business owner myself whose time is greatly limited, Kris orchestrated our 1031-Exchange beautifully and insured we met all of our investment guidelines.
I've been an investor of multi-family property for over 40 years and I've never experienced the level of professionalism and knowledge as demonstrated by Kris and his staff. Thank you again!”
- Mike Fuerst
Client #1 - Mr. & Mrs. Rodriguez
The Rodriguezs owned a 3-unit and an 8-unit apartment building in the city of El Monte. They didn't think it was possible to increase their rate of return on a new building where the property taxes would be higher, and they would have to take out a new loan to finance it. They were both caught up in the daily responsibilities of running a business, thus putting their investment goals on hold. Given the economy, they depended more and more on the monies from their investment properties to meet their day-to-day needs, so a reduction in income was not an option.
Client #2 - Mr. & Mrs. Aviram
The Avirams owned a 9-unit apartment building in Pomona, inherited from their family. Their ultimate investment goals were to pursue a 1031-Exchange and purchase a property located in the Baldwin Park or Covina area built 1980’s or newer with townhouse-style units. Both were fully retired and dependent on their investment properties as their sole source of income.
Kris German and his partner were able to sell both of Client #1’s buildings in a manner which allowed them to combine the proceeds from both sales and exchange into two properties. The newly purchased properties increased their holdings by 27%. In addition, the client greatly increased their annual cash-flow. One of the properties they purchased was Client #2’s building.
Client #2 purchased an 11-unit building in Baldwin Park which was a pocket listing of Kris German’s. The property was built in 1988 and consisted of townhouse-style units with garage parking. The property offered separate meters for all utilities including water, not to mention it was located just 5 minutes from another building that Client #2 already owned.
“Now that all the ‘t’s have been crossed and the ‘i’s dotted we wanted to take a moment to thank both of you for your diligent and professional service. The 1031 exchange of one property for another was a long and difficult process; especially working the financing. At all times the both of you exemplified the utmost in outstanding work ethic and results oriented service.”
Mr. & Mrs. Aviram
RE/MAX Commercial Investment Real Estate
790 Ferrari Lane | Ontario, California 91764
Office: 909.294.2593 | Fax: 909.989.0288