Rich Von Alvensleben Reports Success of Von Vesting Real Estate
Von Vesting’s partners have bought and sold approximately 1,700 properties in the past twelve years, says Von Alvensleben.
SACRAMENTO, California – December 5, 2012 – Rich Von Alvensleben, Operations Manager of Von Vesting, Inc., a real estate investment firm headquartered in Rocklin, California, (Sacramento Suburb) recently announced overwhelmingly positive numbers for the company. Despite the economic woes that have hit the U.S. housing market, over the past twelve years, Rich Von Alvensleben and the partners behind Von Vesting have purchased, rehabilitated, and then re-sold approximately 1700 distressed properties to end-users. This has proven extremely advantageous for the local communities (who have had their local eye-sores replaced with best-of-the-neighborhood showpieces); great for the new homeowners (who have home warranties, new appliances and freshly renovated properties at under market prices); and very profitable for the company, says Rich Von Alvensleben.
As Rich Von Alvensleben points out, Von Vesting’s equity investors have enjoyed cash-on-cash returns of 12% or higher in every one of the past 12 years; and over 20% cash on cash in 10 of those 12 years. The best year to date has been 2008, where investors received an incredible 54 percent IRR.
According to Rich Von Alvensleben, Von Vesting purchases homes for wholesale prices, then resells them at sub-market rates. This is accomplished by updating the homes with popular amenities and up to current standards in order to enjoy the best return possible, Rich Von Alvensleben explains. As Rich Von Alvensleben emphasizes, the goal is to ensure that the homes sell as quickly as possible with a minimum 15 percent cash-on-cash return to provide the best IRR to equity investors.
“Von Vesting pays close attention to titles, liens, locations, and comps during the initial acquisition,” reports Rich Von Alvensleben. Using his own expertise combined with the knowledge of his skilled team, Rich Von Alvensleben determines which items to improve and which items to retain from the original structure to maximize return. This, combined with Von Vesting’s expert marketing and expert pricing for the current market, helps turn properties at a phenomenal rate, notes Rich Von Alvensleben.
Von Vesting maximizes its return by only investing in properties that ensure at least a 15 percent return, according to Rich Von Alvensleben. Quick turnaround is key to Von Vesting’s success, says Rich Von Alvensleben, with the company averaging a 98-day turnaround in 2011. This, Rich Von Alvensleben states, allows the company to use the same money three times in one year. Velocity is the entire key to success—flipping three homes with the same money in a year’s time enables turning that 15% per property into a 45% per year cash on cash return for the Fund.
Rich Von Alvensleben and his wife grew up in the Bay Area and have lived in the Sacramento area doing redevelopment full time for the last 12 years, which gives them an in-depth knowledge of the area. For this reason, Rich Von Alvensleben focuses Von Vesting’s investments primarily in the Greater Sacramento and Bay Areas.
Rich Von Alvensleben knows the importance of choosing properties with access to the best schools, minimal competition, and a likelihood of quick turnaround. Rich Von Alvensleben has found that nothing compares to having personal experience with an area, as he and his wife do, and this gives Von Vesting an advantage. With 12 years of experience in the neighborhoods of Sacramento, Rich Von Alvensleben is finding that many properties are on the same streets as previous investments, giving Rich Von Alvensleben and Von Vesting recent personal experience that helps with pricing and rehabilitation work on neighboring properties.
Rich Von Alvensleben is a Sacramento-based property investment expert with more than twenty years of experience in business. A former sales executive and drilling business owner, Rich Von Alvensleben now specializes in returning a profit on distressed properties in the Sacramento & Bay Area.
Rich Von Alvensleben earned his associates degree from Santa Barbara Community College’s Marine Technology program. After a four-year career in marine research, Rich Von Alvensleben founded Associated Drilling, where he led a team that helped rehabilitate the Bay Area after the 1989 earthquake. Rich Von Alvensleben worked in sales and real estate in California for a decade before forming Von Vesting and the California Licensed General Contractor OneUp Construction in 2011, giving him the experience necessary for success in real estate investment and redevelopment.