“It is not the strongest of the species that survive, not the most intelligent, but the one most responsive to change.”
- Charles Darwin
Flite Advantage
We quickly adapt and respond to any situation to deliver results that improve performance, increase NOI, preserve and grow investor capital, and achieve appreciation.
EXPERTISE
We have a depth of experience acquired in 15+ years of real estate investing, backgrounds in architecture and design to do quality work, leverage our experience in construction management, and knowledge of tax and risk management.
RELATIONSHIP
Our commitment is demonstrated in the ability to develop strong working relationships with fellow investors, commercial lenders, brokers, contractors, and project teams to achieve the best results for you.
INVESTOR MINDED
We always have our investors’ goals and interests in mind and consider the members of our team as part of our extended family. We work hard to provide stable returns and equity growth for you.
COMMUNITY
The capital we put in our properties helps improve the quality of life for our residents and helps development of businesses and communities in the areas we invest in.
Flite 5 Step Process
Whether institutional, family office, or A BUSY PROFESSIONAL, we take the time to establish a partnership that will last for the long run.
STEP 1: MEET AND GREET
Schedule now an in person meeting, phone or video chat, or even accompany us during our onsite ride alongs/ property visits, so we can initially meet and get to know about you and your investment goals. We want to learn why you want to invest and what is your investment criteria and expectations, so we can match any investment opportunities that best suits your objectives. We hope our goals align and we can work together.
STEP 2: MAKE AN INVESTMENT
When you invest with us, we coordinate everything with you from your acquisition paperwork to funding. We take you step by step through the process to ensure a smooth transaction. We are easily accessible and responsive to any questions you have through email, text, phone, or in person if needed.
STEP 3: COMMUNICATION
Through our investor portal or web app, we will provide you tax documents, property updates, distribution statements, and notification of new investment opportunities. If we find an opportunity that we feel best matches your criteria, we will personally contact you through phone or email.
STEP 4: DISTRIBUTIONS
Depending on how a particular deal is structured, we generally direct deposit (ACH) distributions to investors automatically to their accounts on a monthly or quarterly basis. This amount varies based on property performance.
STEP 5: EXIT STRATEGY
With our background in finance and taxes and your best interest in mind, we have the ability to assist in the best exit strategy and help with tax strategy distributions or an option to exchange your capital proceeds on a tax deferred basis into a new acquisition with FLITE through a 1031 exchange.
Flite Criteria
Our focus is to identify opportunities to invest in value add & opportunistic properties to where this is clear opportunity for increased equity and potential distributable cash flow, providing higher returns for our investors.
What we look for in a property:
Located at neighborhoods in tertiary markets near big cities.
Properties with deferred maintenance.
Mismanaged properties.
Undermarket rents.
Unimproved exterior and interiors.
Near amenities such as schools, hospitals, shopping, and future developments.
Preferably off market.
Great unit mix.
Why Multifamily?
LOWER RISK - Less vacancies compared to office properties, industrial buildings, and retail properties.
LESS VOLATILE - More stable compared to other alternative investments, such as stocks and bonds.
RISING DEMAND - Housing is limited and home ownership is getting more expensive so baby boomers and millennials are opting to rent rather than buy.
EASIER TO FINANCE - Lenders see multifamily as a less risky investment, thus offering competitive financing terms.
RESILIENT - By forcing appreciation and increasing higher cash flow, multifamily remains strong through economic cycles.
SCALE - The more units you have, the more streams of income you produce and more savings through economies of scale.
TAX BENEFITS - Depreciation savings, cost-segregation, passive income tax treatment, and 1031 like-kind exchanges.
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Our Markets
Flite currently has a focus on the western united states due to its dependably historic performance of appreciation, its robust labor markets, low vacancy rates, and sustainability through economic downtrends.
OUR TEAM IS LOOKING TO EXPAND OUT OF STATE AND ALSO ACTIVELY LOOKING IN PHOENIX, LAS VEGAS, TEXAS, AND FLORIDA.
Why San Jose?
The San Jose metro is bolstered by its tech-anchored economy, which, in the course of the ongoing slowdown, is fairly well insulated to withstand the economic fallout. Rents in the metro were even up 0.1% on a trailing three-month basis as of April, while the U.S. rate plateaued. The metro had been gearing up for record rental inventory growth this year, but delays due to pandemic - related restrictions will likely curb that rise.
With the state processing over 4.7 million initial unemployment claims since the start of the outbreak, economic issues are in sight for California as a whole. While the South Bay’s economy is well insulated against the bulk of the issues that are projected, some sectors saw mounting trouble as early as March—leisure and hospitality, the hardest-hit industry, had already lost 9,100 jobs year-overyear. With construction procedures put in place to help get projects back underway, some relief in that sector is expected this summer.
San Jose’s average occupancy in stabilized assets stood at 95.4% as of March, well above the national figure. With broad eviction moratoriums in place, that figure hasn’t seen significant fluctuations yet, although county authorities are seeking to prolong the measure, pending state-level decisions.
FLITE IS POISED TO TAKE ADVANTAGE OF MARKET CONDITIONS AND VALUE-ADD OPPORTUNITIES AS SMALL MOM-AND-POP OWNERS UNLOAD ASSETS AT BELOW MARKET RATES.
(Source: Yardi Matrix Spring 2020 - San Jose Multifamily)
Why Sacramento?
Sacramento is the fastest growing major city in California. Sacramento’s population surpassed 2.3 million for the first time this year and grew at the fastest rate among California’s top 10 largest cities. The capital city of California continues to evolve and expand with new residents moving over from the Bay Area and millennials relocating from other parts of the country.
Sacramento’s sustainable cost of living, numerous recreational opportunities, proximity to the Bay Area, Napa, and Lake Tahoe, along with its thriving cultural farm-to-fork scene, have made Sacramento the place to be for a growing number of households. A revitalized downtown with the 2016-completed Golden 1 Center and the new Downtown Commons entertainment district has spurred development and investment in the city’s urban core over the last few years.
(Source: 2019 Marcus and Millichap Multi-family report)
Why Stockton?
We have acquired and continue to locate exceptional deals in Stockton, which we believe is one of the last locations in California offering above average returns in the multi-family real estate world. As you may already know, Stockton has been feeling the economic boost from the San Francisco Bay Area growth and we believe that we are in the early stages of continued growth in the City over the long term.
- Stockton is now ranked #18 among all cities with over 200,000 population in fiscal health. The bankruptcy did have negative connotations but tremendously helped the city financially.
http://www.recordnet.com/news/20170206/two-years-after-bankruptcy-stockton-among-healthiest-cities
- Stockton is moving up in the ranks of national markets for growth. Although some may there is high risk because it reminds them of 2007, the fundamentals are completely different and many properties have large equity positions and cash downs.
https://fox40.com/2017/11/30/stockton-lodi-area-forecast-to-be-one-of-the-hottest-housing-markets-in-the-country-next-year/
Industry Partners
REAL ESTATE PROPERTY SERVICES, INC
Real Estate Property Services (Repsrentals) is a strategic partner with Flite to perform onsite and offsite property management using their unique platform for more management uniformity and better execution across our markets.