Camino Verde Group LLC is a Henderson and Las Vegas, NV based privately held real estate investment, development, and asset management company co-founded by Kevin Romney. They generate passive income, long-term equity, and appreciation for investors and owners through the purchase and development and wise management of property assets and maximizing income exit strategies.
All real estate investors know of the multiple listing service (MLS) when it comes to trying to find properties to invest in. However, only experienced investors know how to look for the elusive off-market properties for their investment portfolio. For those that don't know, off-market properties are any properties that aren't listed for sale publicly or on the MLS. As a buyer, the biggest benefit is the lack of competition. Properties listed on sites such as Zillow and Realtor have plenty of the interested buyers and competition that can drive up prices. However, off-market properties normally have little to no competition, leading to easier purchases and negotiations. For sellers, an off-market transaction is often done for privacy concerns. An owner of a multi-family unit may not want to scare their tenants by listing their property for sale. If the property ends up not selling, they may be left with a property which has no tenants. The big question is how to find off-market properties. Real estate agents are the best starting point to track down these properties. While they may not share off-market listings at first, as you start working more with an agent, they may be more willing to share their pocket listings with you. A pocket listing is a listing that an agent has exclusive rights to sell which aren't listed on the MLS. Word of mouth is another great way to hear of these properties. Contractors may know of properties that will be listed soon as they work on renovations, and even networking with other investors may give you inside knowledge on properties they aren't interested in but may be of interest to you. Finally, real estate auctions can sometimes be a great place to look for these properties as well. These off-market properties usually sell for much lower than what they're worth, but they often come with a variety of problems as well that need to be remedied before they are ready for tenants.
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Kevin D. Romney, a real estate investment executive, moved from Dallas, Texas, to Henderson, Nevada. Along with his knowledge of the Las Vegas multifamily and retail property market, Kevin Romney remains informed on developments in the Nevada economy.
The Nevada economy is worth more than $175 billion. While tourism is Nevada’s best-known industry, the Silver State is also home to several booming industries: - Mining Nevada is one of the leading US producers of precious metals, such as gold and silver. The state is also a rich source of commercial-use minerals, such as iron and lithium. - Agriculture Most of Nevada’s agriculture is focused on livestock, such as cattle and horses. Despite the arid climate of Nevada, farmers produce a few staple crops, including onions, potatoes, and wheat. - Aerospace Since World War II, Nevada has played a significant role in the aerospace industry. Some strategic Air Force bases and Navy training centers are in Nevada. Since 2012, the state has been classified as a test site for the National Airspace System. A former senior accountant at Ernst and Whinney, Kevin Romney serves as the chief investment officer of Camino Verde Group which invests in multifamily properties in Las Vegas, Nevada. A resident of Henderson, Nevada, Kevin Romney is a member of the Las Vegas Real Estate Investors Association (Las Vegas REIA).
Las Vegas REIA is a real estate association serving professionals in the state. Its goal is to help members build and preserve multi-generational wealth through real estate. It achieves this by hosting regular meetings where real estate professionals come together to exchange deals and learn from national speakers and professional experts on the best industry techniques. Besides educational and networking opportunities, Las Vegas REIA also provides members with additional benefits including material purchase incentive programs with Home Depot. Through the programs, members get unbeatable discounts when they shop for items such as paints, primers, and cabinets. Members also enjoy exclusive pricing on appliances such as fridges and washing machines as well as a rebate price match program that goes up to 11 percent. Beyond Home Depot, members get discounts on services offered by 1-800-GOT-JUNK?, Build A Sign, CallFire, FedEx Powered by PartnerShip, and Foreclosure.com. They also get free marketing support from Constant Contact. Kevin Romney is the CIO of Camino Verde Group, a real estate development company in Las Vegas. The Henderson, Nevada resident oversees the development and acquisition of multifamily properties for the group. Kevin Romney is also involved in the management of these properties, many of which are in the Las Vegas area.
An important step in investing in multifamily properties is hiring the right property management company. A property manager is a person or firm hired to oversee a property’s daily operations when the owner is unable or unwilling to manage the building themselves. They help supervise properties, attract and screen new tenants, collect rent, and handle necessary repair and maintenance. Here are considerations for choosing the right property management company. When interacting with representatives of the property management company, please take note of their demeanor and language. They will likely treat tenants similarly. Check the company's experience. Look at some of the properties they manage and see if they have done a good job. Learn how the firm handles maintenance, repairs, and rent collection. Make sure the company is a registered entity and has the necessary licenses and documentation. Also, learn how they market properties and screen potential tenants. The reporting structure of the management company is essential. They should be able to provide you with tenancy and financial reports regularly and on time. Scrutinize their compensation structure and charges. Property management companies are remunerated in two ways: a standard fee or a percentage of the rent. Also, look at the various service fees like cleaning and maintenance. Ensure their compensation structure will not negatively affect the profitability of your investments. Kevin D. Romney, a resident of Henderson near Las Vegas, is currently chief investment officer for Camino Verde Group, also based in Henderson, Nevada. In addition to acquiring assets for the portfolio group, Kevin Romney is also a member of the Las Vegas Real Estate Investors Association (REIA), an organization whose mission is to help its members build, preserve, and harvest wealth.
Among its activities, Las Vegas REIA provides its members a platform for educating themselves on smart real estate moves. REIA’s philosophy is that continued training is tantamount to being successful in real estate, so it has established a series of courses on topics in the real estate industry. These courses are taught by knowledgeable instructors who have years of experience in the industry, who not only possess book knowledge but also understand the practical applications of theoretical concepts. Moreover, they are equipped with the latest information and news on industry trends incorporating the latest technologies into the course lecture. The subjects of the courses range from rehab and rentals to investing strategies. Kevin Romney serves as the chief investment officer of Camino Verde Group in Henderson, Nevada. As such, he finds and acquires multifamily properties around Las Vegas and oversees property management at these assets. Kevin Romney of Las Vegas is also responsible for the capital stack of each property Camino Verde Group handles.
In real estate, the capital stack refers to all the capital that has financed a transaction. This can include senior and mezzanine debt and common equity. These investments are associated with varying rates of return and risk and are organized in specific ways depending on their rates of return and risk. Common equity typically rests at the top of a capital stack because it carries the most risk. When an investor purchases common equity, he or she is procuring an ownership stake in a real estate project. However, such an individual is compensated for his or her investment only after investors at other levels in the capital stack are paid. Under common equity is preferred equity. Investors at this level receive payments before common equity holders, along with a share of the project’s capital gains. But they are exposed to greater risk than mezzanine and senior debt investors. Mezzanine debt investors demand more returns than senior debt investors in return for their unsecured position in the capital stack. These investors only get repaid once all senior obligations are satisfied. Meanwhile, senior debt is the foundation - and typically the largest portion - of the capital stack. The property secures senior debt since it functions as collateral for the loan, so risk is kept low compared to all other layers in the stack. Kevin Romney is the Las Vegas-based chief investment officer of the Camino Verde Group in Henderson, Nevada. A member of the Las Vegas REIT (Real Estate Investment Trust), Kevin Romney has been active in business in the Southwest for decades. Investing in multifamily real estate is a good way to make significant returns, but investors can make many mistakes. One of the most common mistakes is being enticed by “limited-time opportunities” that require investments outside of the investor’s target market. Before committing to an investment, investors should have an in-depth understanding of the market in which a property is located. Another mistake is failing to understand the cause of property vacancies. Often, investors try to get out of a property that is underperforming. If the new investors cannot figure out why a property is underperforming and establish a clear plan to correct the problem, they will end up in the same situation as the previous investors. Las Vegas businessman Kevin D. Romney serves as the manager of Radiant Solar Solutions and oversees solar and storage installation projects spanning the Southwest United States. Focused on the German-engineered, US-manufactured sonnenBatterie solar solution, Kevin D. Romney and his Las Vegas team maintain strong awareness of industry developments. Ongoing research at Stanford University centers on sodium-based technologies that may someday replace lithium as the preferred chemical component in batteries. While sodium ions do not boast the same high level of performance as lithium ions, they are substantially cheaper. The expense of mining and refining lithium is approximately $15,000 per ton, while sodium is 80 percent less. At the mining stage for example, sodium-based electrode materials cost only $150 a ton. Current sodium ion prototypes focus on enhancements in electron flow capabilities. However, further research is needed in the area of volumetric energy density factors, which determine the actual size of the sodium ion battery required to provide a lithium-equivalent output. A successful entrepreneur and business consultant, Kevin D. Romney resides in the Las Vegas metropolitan area and serves as a youth volunteer and lay minister at his church. Las Vegas-based Kevin D. Romney is the manager of Radiant Solar Solutions, one of the Southwest’s principal provider of solar energy and storage technology. As pointed out by Radiant Solar, one of the benefits of installing a solar energy system in residential homes is that, based on studies, the values of these homes are three to four percent higher than similar homes in the locality. While figures differ contingent upon the installation and property, research indicates that the average home resale value increase is around $6,000 per kilowatt of solar installed. This means that a mid-sized home with 5 kilowatts of solar panels installed, on average, adds $30,000 to the resale value. Aside from the increase in property value, homes with solar energy systems also sell twice as quickly as homes with no solar installations. |
AuthorBased in Las Vegas, Nevada, Kevin D. Romney is a skilled professional in the fields of business development and franchising. Kevin D. Romney currently holds the position of President of The Romney Group, a consulting services company located in Las Vegas. Archives
December 2020
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