Acquisitions to Asset Management
Clark REI is building a portfolio of exceptional properties in highly desirable areas to live or vacation.
As a Professional Engineer who pivoted to a full-time Real Estate Developer, I have acquired a unique skillset to confidently analyze, acquire and manage such properties since 2013.
Work-Life Balancing
2007 - Graduated Drexel University, BS in Civil Engineering
2009 - Bought first property
2012 - Licensed Professional Engineer, New Jersey
- Married to Jessica
2013 - Self-managed my first rental
2014 - Purchased Duplex, Moved in, Self-managed 2nd door
- Avery Born
2014 - Left Engineering to pursue a full-time career as a RE Developer
2016 - Hunter Born
- Opened The Asbury
2018 - Opened Asbury Lanes
- Renovated Duplex to SFH
2019 - Sold first Rental
2020 - Purchased first out-of-state rental - Property #1
- Completed $8M boardwalk project
2021 - Purchased Property #2 with a Limited Partner (LP)
2022 - Purchased Property #3 our first STR! - Partnered with Family
In the last year, I've made two visits to the market to learn the area and meet with top brokers, property managers and contractors in Charleston, South Carolina.
Continue to seek opportunities in other supply-constrained markets - for example, Monmouth County east of Route 35.
I have tracked the various neighborhoods to identify the supply constraints, both geographic and zoning, to determine the best locations to invest.
I'm looking for long-term people to build a portfolio that will last for the long-term. I will align interests in the partnership, where I get paid last and only if the deal goes well.
Population Growth indicates demand.
Supply constraints are found by learning the submarkets.
Through data research and networking, we identify zip codes where we would want to live or vacation, and therefore, invest.
Interview local Property Managers, Agents, Lenders and Builders to determine the best opportunity.
For liability reasons, each property has its own LLC. The operating agreement also clearly spells out capital contribution and distribution schedules. Our CPA handles the taxes.
After closing a new game begins. Tenant Improvements get installed and tenants utilize the Property.
The on-going Asset Management by Clark REI ensures the original model is met or exceeded. We also keep up with market conditions for potential refinance or rent increase.
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