Michael Eckerman’s Las Vegas Real Estate Asset Management Firm Fills Big Shoes, On a Local Level
Las Vegas, NV (PRWEB) July 11, 2013 -- The current state of the reemerging real estate market’s success is partly due to the return of sophisticated cash investors such as large hedge fund firms like Blackstone and Colony Capital. According to a recent July 8th, 2013 article from Bloomberg, to date, Blackstone has already spent $5 billion on more than 30,000 distressed residential properties nationwide.
More than 50% of all home purchases in hard hit areas like Las Vegas, Phoenix and Southern California have been made by big hedge fund investors. “The success of firms like Blackstone is based on a foundation of keeping up with the current market trends and future forecasts. They use those opportunities to bring in capital,” says Michael Eckerman, CEO of Novus Dia Financial.
Eckerman says, his company follows those same principals and approaches to real estate investing, but focuses on smaller, more robust income producing real estate opportunities. In addition, Novus Dia Financial has launched their own $25 million private equity offering to lock in and capitalize on the growing Las Vegas and Southern California real estate markets. “We take the approach that big things come in small packages. We are very fortunate to have our feet well-grounded in Las Vegas and Southern California. In one year, the prices increase on homes is over 30% here in Las Vegas and many of those properties are well under the $250,000 range. Essentially, we are buying smaller priced properties that the larger firms like Blackstone would see as too low priced, and would require them to hire additional manpower to manage a larger inventory of properties. The larger funds prefer to have higher price-points on properties which keep their inventories smaller. That practice gives us a competitive advantage and enables us to take advantage of these inefficiencies in the market and gives us tremendous opportunities on a local level," explains Eckerman.
Eckerman adds that additional success of his company is based off the old principal of being a local “brick and mortar” establishment. “Investors want the ability to be interactive and to take ownership in the fact they have the freedom to visit and get involved with the operation. They want to see the faces and personalities of those folks managing their investments. We embrace those qualities and produce the same financial results as the larger firms,” said Eckerman.
The operational risk is always a growing concern for smaller investors looking to purchase residential real estate for the purpose of renting it out. Eckerman is confident that keeping investors interested in two markets, minimizes the risks. “We know the Vegas and Southern California markets well and have our own people on the ground in both. Sticking with assets in two of the nation’s fastest growing real estate markets not only allows for more lucrative returns, it enables the investor to become more knowledgeable about the trends in only two markets as opposed to having to endure multiple learning curves, in multiple markets,” explains Eckerman.
Novus Dia Financial is a Real Estate Asset Management and Strategy Firm that specializes in acquiring, leasing and selling Residential Real Estate. Novus Dia Financial also provides education to individuals on how they can earn above market returns through Proprietary Real Estate Investment Strategies. Novus Dia has office locations in Las Vegas, Newport Beach, Beverly Hills and San Francisco.
Sean Delanty, Novus Dia Financial, http://www.novusdiafinancial.com/, 702-726-9967, [email protected]
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