ABOUT STEVEN MCADOO 

As Director of Multifamily Investment Sales in Franklin Street’s Jacksonville office, Steven McAdoo represents investors in the acquisition and disposition of multifamily assets throughout the North Florida market. Serving as a trusted partner, his goal is to maximize value for his clients in every transaction while providing first-rate service and communication. 

A Jacksonville native and the University of North Florida alumnus, Mr. McAdoo possesses a strong command of the market that allows him to represent his clients with knowledge and authority. Before transitioning to brokerage, Mr. McAdoo worked in accounting and finance for several industries, including commercial development. Today, that background provides him with meticulous attention to detail, along with expertise in analysis, underwriting, asset management, and investor relations. Prior to joining Franklin Street, Mr. McAdoo specialized in multifamily investment sales with another commercial brokerage in Jacksonville and later co-founded his own private brokerage and investment firm. 

ABOUT MARC HASSAN

Marc Hassan was born and raised in Jacksonville where he graduated from Bishop Kenny High School in 1997. He then went on to graduate Magna Cum Laude from Jacksonville University with a B. A. in English (Major) and Business (Minor). In 2003, Marc earned the degree of Master of Business Administration (MBA) from Jacksonville University. Marc, his wife, Meghan, also a Jacksonville native, and their three children continue to call Jacksonville their home and remain active in the community. 

In 2007, Marc founded Spectrum Realty Property Management with the primary focus of supporting the needs of his real estate development projects and companies. After extensive planning and reorganization, in 2015 Marc launched a new branding effort with the intention of growing Spectrum into the trusted leader in Northeast Florida for property management and real estate brokerage services. Marc is leading Spectrum Realty Property Management on the path to redefining the traditional model of a successful real estate firm. 

THIS TOPIC IN A NUTSHELL:

Short Intro and career background – Steven & Marc

About the Deal:

Background location and opportunities

Pros and Cons of this location

Capital Expenditures, Conditions, and Capital Improvements 

Target rents and unit mix

Vacancy and desirable areas in the Florida market

Tenant damage and Security deposit

Concessions, Bad debt, Loss to lease 

Landscaping and contracting services

Taxes and Insurance 

Portland vs. Florida market

Re-assessment of taxes and value of property

Management fee and Leasing fees

Repairs & maintenance

Natural calamity and its effect on the Insurance market

The typical expense ratio for this property

Net operating income

Strategy on loans

Projection and market rents

Debt coverage ratio

Cap rates and Interest rates

Connect with Steven and Marc

KEY QUOTE:

“Different people have different methodologies, some people want to get the rent roll as close to market rent as quickly as possible, and some people would rather know that turnover is expensive because of the repair cost & the amount of loss rent. It's really just a matter of personal preference on how you like to operate properties.” – Steven McAdoo

“You do have to be strategic about it if you've got four leases all coming up in the same month. You may not want to be testing the waters on all 4 leases on an 11-unit building all at once. You got to look at how the rules lay out but I'll start with the first renewal coming up and push it to the market. If I need to get someone new in, set the tone and I’m gonna get max rent as quickly as I can.” – Marc Hassan

SUMMARY OF BUSINESS:

Spectrum Realty Services LLC - founded in 2007, Spectrum Realty Property Management’s primary focus is supporting the needs of its real estate development projects and companies. Our core services include buying and selling residential and commercial real estate and property management. As a full-service real estate brokerage firm, Spectrum Realty Property Management provides our clients with the latest market trends, data, and analysis for Northeast Florida. 

We relieve the discomfort and stress often felt when selling or buying residential real estate. Spectrum Realty Property Management is well-versed in varying commercial real estate areas. These areas include site selection, acquisition, entitlement, development, construction, investment analysis, and commercial property management.

Franklin Street is a family of full-service real estate companies focused on delivering value-added solutions to meet the evolving needs of clients. Through a collaborative philosophy of leveraging the resources, expertise, and experience of each of its divisions—Real Estate, Capital, Insurance, Property Management, and Project Management—Franklin Street offers unmatched value and optimal solutions for clients nationwide. For more information on Franklin Street, please visit FranklinSt.com.

ABOUT THE WESTSIDE INVESTORS NETWORK  

The Westside Investors Network is your community for investing knowledge for growth. For real estate professionals by real estate professionals. This show is focused on the next step in your career... investing, for those starting with nothing to multifamily syndication.  

The Westside Investors Network strives to bring knowledge and education to real estate professional that is seeking to gain more freedom in their life. The host AJ and Chris Shepard, are committed to sharing the wealth of knowledge that they have gained throughout the years to allow others the opportunity to learn and grow in their investing. They own Uptown Properties, a successful Property Management, and Brokerage Company. If you are interested in Property Management in the Portland Metro or Bend Metro Areas, please visit www.uptownpm.com. If you are interested in investing in multifamily syndication, please visit www.uptownsyndication.com.  

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CONNECT WITH STEVEN MCADOO:

Email: [email protected]
Website: https://franklinst.com/
LinkedIn: https://www.linkedin.com/in/steven-mcadoo-0a458a49/
Facebook: https://www.facebook.com/FranklinStLLC
Instagram: https://www.instagram.com/franklinstreet.cre/

CONNECT WITH MARC HASSAN

Website: https://spectrumrealtypm.com/
LinkedIn: https://www.linkedin.com/in/marc-hassan/
Facebook: https://www.facebook.com/MarcHassanRealEstate

CONNECT WITH US  

For more information about investing with AJ and Chris:  

·    Uptown Syndication | https://www.uptownsyndication.com/  

·    LinkedIn | https://www.linkedin.com/company/71673294/admin/  

For information on Portland Property Management:  

·    Uptown Properties | http://www.uptownpm.com  

·    Youtube | @UptownProperties  

Westside Investors Network  

·    Website | https://www.westsideinvestorsnetwork.com/  

·    Twitter | https://twitter.com/WIN_pdx  

·    Instagram | @westsideinvestorsnetwork  

·    LinkedIn | https://www.linkedin.com/groups/13949165/  

·    Facebook | @WestsideInvestorsNetwork  

·    Youtube | @WestsideInvestorsNetwork