In April 2022, Park Plaza Apartments sold for $4.2 million dollars, providing Chavis and his investors an astounding 62% return on their investment during a global pandemic.
TAMPA, Fla. (PRWEB)
April 07, 2022
There’s an old joke that goes: “Those who can, do; those who can’t, teach”. While this isn’t true for most teachers, it seems to hold true for many people who call themselves gurus. When you take a close look at many of the top real estate gurus many of them don’t actually own a lot of property. Instead, they make the majority of their income by “teaching” others to invest.
With real estate investments becoming more and more popular amongst both retirees and millennials, there is a rise in the amount of “Real Estate Gurus” who claim they can teach anyone about investing in real estate, and that it is the best “get rich quick” ” scheme 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 his acquisition of Park Plaza Apartments, a $2.6 million dollar multifamily property in St. Petersburg, FL, over a three year period on his website and social media.
In 2019, Tampa/St. Petersburg was considered one of the hottest rental markets in the nation with many investment properties considered to be overpriced. In April 2022, Park Plaza Apartments sold for $4.2 million dollars, providing Chavis and his investors an astounding 62% return on their investment during a global pandemic.
“At $2.6 million, many people thought I had overpaid, but by using my SEOTA™ process outlined in the book, I was able to see that there was a lot more value to be found,” says Chavis. “People’s opinions mean nothing to me. Everyone thinks the market is crashing. It’s about what your research uncovers and how you think your prospective tenants will react”
SEOTA™ stands for the Strategic Evaluation of a Target Area, a step-by-step process for evaluating a property and determining if it’s a good investment for you. Fully outlined in Bryan’s bestseller “Buy It, Rent It, Profit!” The SEOTA analysis takes a look at key demographic and economic indicators that reveal whether or not an area is worth investing in.
Today, St. Petersburg has become the frequent target of corporate relocations and expansions, causing a surge in renters to the demand pool. According to CoStar, the City experienced 16.9% rent growth over the past 12 months, surpassing pre-pandemic levels to all-time highs. With over 2 million sq. ft. of office space, 30,000+ jobs, and a downtown population expected to increase 30-40% over the next five (5) years. In addition, 12 minutes north of Park Plaza is the Gateway Business District, St.Petersburg’s premier employment center featuring in excess of 114,000 jobs.
“These fundamentals are overlooked by most real estate investors because they’re taught to pass the property on to third-party property management and bank solely on the appreciation of the asset versus adding value.” Chavis mentions. “I was bullish on the downtown St. Pete market and it was a matter of providing it over a series of time” “Months later, we have a multimillion-dollar pier built just blocks from the property and an increase in growth at every level ”
About Bryan Chavis: With more than twenty-plus years of experience in real estate and as the founder of Buy It, Rent It, Profit Education, Bryan M. Chavis knows all phases and aspects of working with rental properties. Bryan is among the top real estate investing coaches with approximately 50,000 investors certified and trained 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 think about rental investing. He is an entrepreneur, educator, and investor who believes everyone should have access to owning high-performing rental real estate. To learn more, visit buyitrentitprofit.com or follow @bryan.chavis on Instagram
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