Eastwest Properties
Sebasten Lizarraga
East West Properties has bought or sold over 300 properties for investors in Syracuse and Central New York. We own 40 investment properties and have executed over 1000 leases. We recognize the tremendous opportunities in our market as well as understanding the needs and frustrations of investors. We manage your properties and money as we would our own. The principals that guide our business are honesty, consistency in communication, problem solving, respect for our tenants and accurate accounting.
East West Properties started investing in Syracuse and Central New York about 20 years ago. We partnered with investors from all over the world to purchase about 100 residential investment properties. After going through 4 property management companies, we started our own. We have grown organically through word of mouth. AppFolio is our state of the art, tenant and investor friendly, property management software. We have developed a network of the best and most cost effective contractors and maintenance people. Government oversite is getting more active. We know almost all of the code officers and government agency personnel personally. All this combines to keep your investments operating productively and efficiently.
Bob was born in Syracuse, NY, and attended LaFayette High School. He received his AB from Cornell and an MBA from Harvard. He played lacrosse for Cornell, the US National Team, and the NLL. After a career in the outdoor industry, Bob started investing in Central New York real estate 20 years ago. He currently owns about 35 properties and has been involved in about 400 real estate transactions over the years. He founded East West Properties in 2003 and is the current president.
Jake was born and raised in Santa Cruz, California, where he helped introduce lacrosse to Santa Cruz County. He was a high school coach and referee in the Bay Area. He moved to Syracuse, NY, six years ago and is now a D-1 college lacrosse referee. Jake has been a property manager for East West Properties for six years and is now the Vice President of Operations. He enjoys reading, travel, snowboarding, and golf and is an avid sports fan.
Madison grew up in the Syracuse, NY, area and attended Liverpool High School. She attended Cazenovia College, where she received a BFA in interior design. Madison joined the East West Properties family in November 2021 as the office manager. She also works with the Syracuse Mets during the baseball season. In her spare time, she enjoys theater, crafting, and kayaking.
We strive to keep up-to-date on what is happening in the Syracuse real estate market. The market can fluctuate at unbelievable rates for a variety of reasons. Keep up with the most current trends using the links below. We are here to support your real estate investing. Call us today to schedule your appointment.
Since 1973, we have developed more than 25 award-winning communities providing homes for over 20,000 families. East West Communities has expanded from its beginnings and is now actively developing numerous communities in the metro Richmond area, the Hampton Roads region of Virginia, and Jacksonville, Florida.
East West Communities evaluates new properties based on a matrix of price, zoning, and location, as well as available natural amenities, tree coverage, and usable acreage. Our land acquisition team is constantly looking for new opportunities.
East West Communities is a proven leader in real estate development. From concept through development completion, our team has a proven success record in creating an inviting and livable community land plan.
Creative recreational amenities are the signature of an East West community. Detailed planning, creative ingenuity, and meticulous execution of our amenities enhance the lifestyle of each community and its residents.
East West Communities has long-term relationships with builders in every region and is continuously building new ones. Our builders have been known to follow us into new markets to build in our communities.
Conscientious financial planning and careful execution of the financial model ensures the success of the community. East West Communities has stable financial partners ensuring financial viability for each project.
Under most definitions, multifamily real estate includes apartment buildings with at least five units. For the 12-month period ending August 2021, multifamily properties grew in value by 12%, according to real estate data provider CoStar Group. That was the highest growth rate of any real estate category except undeveloped land. Further, the growth in multifamily value took place in all regions of the U.S.
When applying for a loan, individuals should know that the down payment for multifamily properties will be higher than that for a mortgage on a single-family residence. An apartment building loan is classified as a commercial loan, which requires more equity from the borrower, Ho said.
In August, the private investment firm Civitas Capital Group acquired a 288-unit apartment complex in Houston for $40 million, according to Multi-Housing News. The property has strong fundamentals, as about 98% of its units are leased and all include washers and dryers.
Smaller developments can be found for less than $10 million. The Bridgepoint, a 48-unit apartment complex in Jacksonville, Florida, sold in July for $4.3 million, according to the Jacksonville Daily Record.
For novice multifamily investors, a better bet is the smallest apartment buildings, usually with about 10 units. One example: a 10-unit apartment complex in San Antonio, Texas, was offered for sale by the owner in August for $950,000, according to LoopNet.
If a new investor has run through all of the recommended due diligence, they should then take a close look at the building and its location. That can help lower the chance that a purchased property quickly turns into a money pit.
Through the agent, ask the seller for a detailed set of records to make certain that the property has not gone years without basic maintenance, Ling suggested. The last thing a novice investor wants is to purchase an apartment building only to discover it needs new roofing or HVAC equipment.
In addition, obtain detailed records from the seller on the list of tenants, Ho said. That can help with making an accurate assessment of how many tenants are potential problems with making late payments.
Owning an apartment building requires a great deal of personal attention to things like maintaining the common areas, asking loud tenants to be more respectful of neighbors, assessing the potential for crime in a neighborhood, and collecting rent payments.
Whether investing through a fund or as an individual buyer, investors should proceed carefully when looking at multifamily properties and get their own house in order first. But the potential reward is significant, as multifamily real estate checks many boxes when it comes to attractive investments, Swehla said.
All rates, fees, products, and program guidelines are subject to change or discontinuance without prior notice. Other limitations and restrictions may apply. All loans are subject to East West Bank's application, underwriting, appraisal, and credit approval. Program is available in select counties of California, Georgia, Massachusetts, Nevada, New York, Texas, and Washington. A cash-out refinance is allowed only on Second Home and/or Investment Properties in the state of Texas.
East West Bank offers mortgages on properties in select areas within the United States. The mortgage loan documents and transactions will be conducted in English. If you do not read or speak fluent English, you will need to retain a reliable translator. The Bank is not responsible for, and you will not rely on, translation by the Bank. All transactions will be conducted in the U.S.; an attorney-in-fact can sign loan closing documents if appointed by a legally acceptable Power of Attorney. A valid government-issued ID card is required for all applicants for identity verification purposes.
A longtime management company specializing in property management, including homeowners associations and resort accommodations, has added three Colorado properties to its $6 billion portfolio.East West Hospitality, based in Avon, has been selected to manage three new properties in Silverthorne. Company representatives said the additions come as business continues to grow. After an initial shutdown early in the pandemic in 2020, they said business has boomed as people headed to the mountains to get out and do something.
The three new properties, all in Summit County, are Fourth Street Crossing, Summit Blue and Aidan on the Blue. Fourth Street Crossing is a mix of condominiums and townhomes in Silverthorne near the Blue Bird Market Hall, which has restaurants and shops.
Summit Blue is a development of townhomes and single-family homes on the banks of the Blue River, a Gold Medal fishery. Aidan Blue, a condominium development, also has access to the Blue River and other outdoor recreation.
East West Hospitality started in Beaver Creek in 1986 with three employees, said Colleen Weiss-Hanen, president and CEO. The company was formed to manage the buildings that its sister company, East West Partners, was developing.
East West Hospitality now has 1,500 employees and operates in four states, Weiss-Hanen said. The company manages a total of 110 homeowners associations and 7,000 units in Colorado; Tahoe, Calif; Charleston, S.C.; and the island of Hawaii.
When the COVID-19 outbreak first hit and skiing, restaurants and other businesses were closed or faced restrictions, East West was facing an uncertain future like everyone else. Weiss-Hanen said the company furloughed about 400 employees. The economic fallout in mountain communities was swift because of the dependence on tourism.
With convenient locations in Long Prairie, Minnesota, our realtors have a wealth of knowledge when it comes to buying and selling within the surrounding communities. If you live in or are planning to move near Alexandria, Fergus Falls, Little Falls, Long Prairie, Melrose, Osakis, Sauk Centre, St. Cloud or Wadena, contact us today. At East-West Realty we have a complete understanding of numerous property types, including commercial spaces, lake shore properties, residential homes, farm estates, city lots and buildable land.
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