Plenty of people have thought about investing in the hot Phoenix real estate market but aren’t sure where to begin or just don’t have enough money to make it happen. A local company called Neighborhood Ventures is giving Arizona residents an opportunity to get involved by buying a share of an apartment building in the Phoenix area with a minimum $1,000 investment.
Since 2017, Neighborhood Ventures has funded four properties in Tempe, Scottsdale, and Uptown Phoenix, with a total investment of $2.65 million from 290 investors. The company was founded by John Kobierowski, managing partner of leading commercial brokerage and advisory services firm ABI Multifamily, and Jamison Manwaring, former VP of investor relations for Lifelock.
“We created this company because we believe strongly in inclusivity,” says Kobierowski. “Multifamily investments that were once only available to an elite group of wealthy investors are now available to everyone, thanks to crowdfunding legislation passed in Arizona a few years ago. Our team is proud to be the first company to open up this business opportunity to all Arizonans.”
Manwaring explains that the company’s model is to connect with people who want to invest in their community, and give them the tools to come together through the Neighborhood Ventures platform to buy a building together.
“In the process, they get an up-close look at what goes into this type of investment, without the hassles of doing it alone. We like to say they can own an apartment building and never have to worry about unclogging a toilet.”
At a time when it’s hard to drive through Phoenix without seeing buildings being razed to make way for the construction of big luxury apartment buildings, neighborhood Ventures is taking a different approach, finding older apartment buildings in up-and-coming neighborhoods that offer good value and the opportunity to upgrade with improvements like new roofing, paint, flooring, cabinets, countertops, fixtures, and appliances.
Lead Designer Rocky Petersen says it’s important to look beyond the surface to find the “good bones” of a building and uncover the beauty that’s hiding behind the chipped paint, overgrown vines, and shabby linoleum.
“We give Neighborhood Ventures properties a high-end look on a budget,” says Petersen. “Livability is important, because we truly want our properties to improve the neighborhood. Currently we’re looking into putting in a community garden at one of our upcoming projects – something for all the residents to enjoy.”
Kobierowski says it has been rewarding to see real estate crowdfunding embraced by investors. Each project has been funded more quickly, and the team is seeing growing demand from people interested in getting involved.
“We’re bringing fresh ideas and new ways of thinking to the real estate industry in Arizona. We are not content to settle into a routine, but we challenge ourselves to continually find ways to scale our operations, create new trends in the industry, and always be out front, inspiring others to challenge the status quo.”
Learn more and find the latest investment opportunities at www.neighborhood.ventures.
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