STUDIO CITY, CA – Over 150 apartment owners came together from across greater Los Angeles to learn from a panel of top real estate experts at the fourth annual "Multifamily Wealth" seminar presented by Berzack Investment Property Advisors, a specialty multifamily brokerage team that brings more than 100 years of combined experience as both agents and owners.
"What Owners Need to Know for 2016" was held in Studio City, CA, on Feb. 4, 2016. Drawing attendees from as far as Orange County, it featured an expert panel of multifamily leaders in management, law, brokerage, insurance and retrofitting who educated investors on this year's most critical regulations, their potential impact and the best strategies to protect themselves and their properties.
"Today's regulatory climate is more complicated and exasperating than ever," said Warren Berzack, president of Berzack Investment Property Advisors and a principal of Lee & Associates-LA North/Ventura, who served as moderator and panelist at the event. "It's tragic to see so many investors ending up in non-compliance and suffering extreme financial loss and stress due to simple unawareness, confusion or procrastination. As I shared with our attendees, it's like a minor infection that needlessly turns into an amputation when it goes untreated. That's why we decided this year's seminar had to help investors finally make sense of all the noise so they're better informed and protected."
The seminar generated animated discussion during its expert panel Q&A session, with topics including: how to best protect one's assets; staying in compliance without breaking the bank; how to manage legal and insurance issues; how to avoid and manage state and city obstacles; and what risks aren't worth taking. The crowd was especially attentive to the speakers' cautionary tales of what's gotten their clients into trouble the most: not properly understanding the law and how it applies to them, not addressing small issues until they get big, and underestimating the massive liabilities and punitive damages such issues can incur. The event also gave attendees the rare opportunity to ask direct questions throughout the night. They were especially inquisitive about the exact legal stipulations for what owners can and can't do, as well as the new retrofitting laws for Los Angeles and how they will affect them.
"We assembled a group of high caliber, high integrity specialists, each with over 20 years of experience in their fields, who've encountered the full gamut of regulatory issues," said Berzack. "They delivered a night of incredible value, helping investors get clear on what applies to them in plain terms, learn to better protect themselves and save more of their hard-earned cash."
The evening also featured special guest speakers James B. Clarke, executive vice president of the Apartment Association of Greater Los Angeles (AAGLA), and Steve Carlson, owner of Steve Carlson and Associates and a prominent state lobbyist. The two spoke on the latest state laws and proposed bills from an ownership perspective. They educated owners on the current battle over rent control, evictions, capital improvement programs and Proposition 13, as well as several bills they thwarted which would have created an undue burden on owners. Justin Brown, senior sales executive with CoStar Group, provided an exclusive presentation including the latest market review and forecast.
"Yet again, we really succeeded in providing local multifamily owners with vital, cutting-edge guidance on what matters most to them," said Berzack. "We do this because Berzack Advisors is not just there for a deal's life span. We're there for the owner's life span. We help clients to maximize their investments' wealth and security over the long-term."
Panel speakers included: Warren Berzack; Stephen Geiger, a partner of Berzack Investment Property Advisors and a Lee principal; Cindy Gray, president of property management firm Moss & Company; Joseph Schneerson, owner of Shomer Insurance Agency, Inc.; John Taferner, vice president of Cal Quake Construction; and Robin McConnell, an attorney with R2 Law Group, LLP.
"In my book, Warren gave Los Angeles owners a treasure trove of essential information tonight," said Mike Tingus, principal/chairman of Lee & Associates LA-North/Ventura, Inc. "Not only did they gain exclusive access to cream-of-the-crop experts, but they could even receive their own personalized assessment. Warren really is a class act. When he calls Berzack Advisors 'full- service,' it's not just empty words. They deliver a value that exceeds anything I've seen in this business."
Attendees, many of whom have returned every year since the seminar's inception, expressed enthusiastic feedback afterward, describing it as "the best event to date," "so much important insight," and "the topics were right on—addressing the issues on everyone's mind." One owner further shared, "I've attended a lot of [seminars], but honestly this was the most informative for the everyday investor, focusing on the things that really affect me and my property."
The program, free to attendees, was held at Sportsmen’s Lodge Event Center in Studio City. It also included a dinner buffet and networking reception.