ROCKLIN, CA, January 23, 2013 /24-7PressRelease/
-- Rich Von, one of the partners of Von Vesting, Inc., is excited to announce that the company is in high-level talks to take on a $30 million rental fund. If the fund goes through, Rich Von says the company will have achieved part one of its goal to reach $100 million in rental properties.
As Rich Von explains, each $10 million fund represents about 110 single-family residences. The company has always put an emphasis on choosing the best properties for an area, including in its criteria the possibilities of improved economic development of that area. While Rich Von is excited at the prospect of making money for his investors, he is equally thrilled to be able to help in this ailing economy.
Rich Von says the impact of Von Vesting, Inc., extends beyond the Sacramento area where he lives. Von Vesting has properties in the San Francisco Bay Area, Reno, Tahoe, Modesto, Stockton, and beyond. Rich Von always familiarizes himself with an area, believing truly knowing a community is key to buying and reselling.
Rental properties aren't new to Von Vesting, Inc., Rich Von explains, with the partners behind the company having done several rental funds over the years. In the past three years Rich Von has put the majority of Von Vesting's efforts behind the American Redevelopment Fund and West Coast REF, both of which are "flip funds." Flip funds support the efforts of those who purchase, rehabilitate, and resell properties.
However, the recent economy has driven consumers to rent instead of buy. Rich Von has found that even among those who could afford to buy their own homes, ownership must be often delayed to the hesitance of banks to loan money. For this reason, Rich Von and his colleagues are turning their collective attentions toward the rental industry, which has thrived during the real estate decline of recent years.
In recent months, Rich Von has been approached by investors interested in rental properties, so the company has decided to add rentals to its acquisitions. However, Von Vesting, Inc, will not be walking away from flip funds. Its fund will support both rental and owned properties.
Rich Von co-founded Von Vesting, Inc. in 2010, but has worked with distressed properties since 2001. Rich Von and the team at Von Vesting seek out distressed properties, turn them into marketable properties based on current trends, and then sell the properties at a profit. Rich Von is also the CEO and founder of OneUp Construction, where he hones his diverse skills managing construction teams. This experience helps him save money on Von Vesting projects, resulting in increased earnings for his investors.
Rich Von holds an associate's degree in marine technology, which he put to use as part of the United States Antarctic Research Program. An active community member, he lives in the Sacramento area with his wife and children.
Rich Von has more than a decade of experience in purchasing and improving distressed properties. Along with his wife, Tiffani, Rich Von has purchased, improved and re-sold more than 1,700 properties, creating a wealth of experience that he uses today. However, flipping properties is only part of Rich Von Alvenslebenï¿½s diverse experience in a variety of industries.
Rich Von began his career with the United States Antarctic Research Program after receiving a degree in marine technology. During his time with the research program, he worked in Antarctica to put markers in place to identify corrosion and installed a machine to convert saltwater. Through the work of Rich Von and his team on the project, thousands of people were once again able to get desalinated drinking water.
Continuing to follow a unique career path, Rich Von left the research program to join San Franciscoï¿½s Associated Drilling. Drilling was a new challenge for Rich Von, who joined the company soon after the San Francisco earthquake. This provided him an opportunity to help rebuild the area. During his time with Associated Drilling, Rich Von also managed a team who drilled for streetlights and handled day-to-day management tasks.
Rich Von then moved on to sales and marketing for a company that was one of the first in the United States to specialize in environmentally friendly consumer goods. Rich Von ï¿½s team grew to bring in $100 million in annual sales, enabling the parent company to rise to the #1 spot of Inc.ï¿½s fastest-growing countries in the U.S. for 1995.
Soon after, Rich Von began his work in the home redevelopment industry, joining interior design firm TKL Designs as a principal. He also worked with Eldorado Holding Company, a $50 million per year business in which he served as head of construction and sales. Rich Von gained nine years of experience with Eldorado, where he honed his talent for locating the right property in the right location at the right time. In 2010, Rich Von co-founded Von Vesting, Inc., where he was able to put his years of versatile experience to use for a company where he finally controlled his own destiny.
Von Vesting, which Rich Von co-founded with his wife, is a full-service distressed property business, taking care of sourcing, purchasing, comping, performing title checks, and selling distressed properties. Von Vestingï¿½s work has helped revitalize areas that were in need of an economic boost, which is a welcome change in the current economy.
Rich Von and his wife stay active when they aren't working. Rich Von enjoys a wide variety of outdoor activities, including hiking and camping. He is also an active participant in local community events, as well as supporting local high school athletic teams in Greater Sacramento.---
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