TO: Investors, Clients & Friends FROM: Jeffrey Lowden, CEO RE: BLACK SWAN – RENO Real Estate & Timing
There is a lot to share with you. My 23 years in business have only been in Real Estate, combined with Financial analysis and running an infomercial and direct marketing company. I came out of school in 1990 and never saw a down market until 2008 market collapse. Needless to say I learned A LOT as the CEO of my company, building owner and financing my own deals and assisting clients in all services of real estate. I feel my failures have made me a stronger and smarter person.
Sky West Real Estate Services, Inc. is my company. We are based in Reno. I am sure you know what is going on here……we are literally exploding. I chose to move back to RENO in 2009 after the crash to position my real estate company for the CA departure that is taking place. CA will always be the best place in the world to live but the business climate is becoming much more difficult to navigate unless you are doing sizable projects and can source $100M or larger master plan projects.
I do have an office and business in California but Nevada is the #1 real estate climate building. The average person cannot see it but what we are seeing from the inside is literally incredible. We cannot sleep or put enough time in, simply put RENO is on fire in what has been terms a “Black Swan”.
A ‘BLACK SWAN’ is a very unique event that comes around once in a lifetime……
Here are a few examples:
1. Reno needs to build 6,000 homes a year in N NV and we are currently building 2,000.
a. A 10% increase in population in 4 years.
2. Reno is currently #4 in the Nation for Population growth according to RGJ.
3. Reno is #2 in the Nation for people moving to a new area according to Reno Gazette Journal, which is a subsidiary of the Chicago Tribune.
4. Reno is in the TOP 10 for 1st Time home buyers according to Money Source.
5. RENO is #9 in the Nation 100 best places to live according to Livability.com.
6. RENO is #5 in the Nation TOP SPOTS to Vacation according to The Weather Channel.
7. Tahoe #1 Lake in America according to USA Today.
8. Reno is TOP 10 Ski Towns in World according to National Geographic.
9. Reno hit the world stage with Tesla and Switch announcements one year ago.
10. The biggest developers in our area have purchased master plan projects and are ‘positioning’ now and have been over the past year:
1. Harrah’s Ranch – Purchase 137 acres to master plan into homes. $34M.
2. 500 Lots purchased in Verdi NV for development and home building.
3. 107,000-acre Storey County, which is the largest Industrial Park in the world. Being developed by my buddy Lance Gilman www.TahoeReno.com.
11. We have seen Land appreciate 40% in the last 18 months.
12. Retail & Office properties in the great Reno area are under 9% vacancy
13. Industrial is under 4% vacancy
14. Apartments are under 2.5% vacancy
15. 25 to 30 corporations are committed annually to relocate into our region.
16. Over the past 5 years, more than 130 companies have made the move to Northern Nevada. Does not sound like much but for a town of 400,000 it is a big jump.
17. The City and our Economic counsels cannot handle the calls, interest and people moving here.
Sky West has become very active with the business development managers who cannot handle the clients who need help to build buildings and position companies and their CEO’s move.
Mayor Hillary is a High School Friend. I sit on City Council boards and committees. Sky West continue to be very active in project entitlement, planning, development and getting projects approved and permitted.
Timing is everything in real estate. Sky West has carved out a niche for ourselves and feel we are filling in a need.
Attached is further information for your review.
We look forward to hearing from you and being of service.
Sky West Real Estate Services, Inc.
3495 Lakeside Drive, #249 Reno, NV 89509
310 729 6050 Cell 775.315.4314 Cell 775.827.6700 Office
“Be the change you want to see in the world” Mahatma Gandhi