Spectrum Properties Are Experts in Residential Value-Add Properties
North hollywood, CA -- (ReleaseWire) -- 08/20/2018 --Spectrum Properties, a real estate investment and development company based in Los Angeles, was started by two partners with vast experience in construction and renewable energy. Spectrum specializes in the purchase of properties that can be developed into properties with additional dwelling units (ADUs) - a value added type of real estate investment that yields far greater returns than other forms of residential development projects.
Founders Nicki Zvik and Shay Yavor both served in the Israeli Defense Forces (IDF). Zvik was a paratrooper in the Airborne division; Yavor was Sergeant Commander in the Elite Forces.
After he migrated to the United States in 2001, Nicki Zvik moved from furniture mover to a store clerk to owner of his own home improvement company.
Zvik's friend Yavor immigrated to the United States in 2003 and transferred from salesman to project manager of a construction company.
In 2005, Yavor joined Zvik to manage Zvik's company, renamed Y & Z Construction.
That's when the partners started looking at real estate and solar energy.
"I think this is where my experience in the army really helped me," Yavor reflected, "because while in the army, I had gone through a lot and seen a lot of things that were really scary. So when the recession came, I didn't allow fear to enter my mind. Solar was a relatively new thing in construction that, unlike a new kitchen or new wood floor, saved people money. And this was a time when everybody needed to save money. It was perfect."
"We kept hearing," Zvik added, "about residential solar and these huge rebates that utilities and cities were offering. We decided to explore it."
In 2010, Zvik and Yavor launched Green Solar Technologies. Green Solar Technologies differentiates itself by providing consumers top-quality American-made products at competitive prices. A leading installer of residential and commercial solar energy equipment for more than eight years, Green Solar won a 2015 Foundation Finance award for its affordable solar loans. To date, Green Solar operates in over 20 states. It is is also the first solar company to contribute to St. Jude Children's Research Hospital, donating money to the hospital for each solar installation.
On October 8, 2017, Governor Brown of California approved the conversion of secondary dwellings into liveable additional dwelling units (ADUs). Zvik and Yavor promptly founded Spectrum Properties
Spectrum Properties is a real estate investment company that purchases and converts single-family homes into dual-income rental Properties. These properties typically contain ADUs that are, simply, additional small dwellings right on the same grounds (or attached to) your regular single-family house. Think of a garage converted into a small home or a portacabin-cum-classroom. More commonly, these ADUs tend to become in-law suites or studio apartments. Put another way, additional dwelling units are small residences with a kitchen and bathroom that is an add-on to your home.
The best thing of these ADUs is that they save you money, house your children or aging parents in your own backyard or provide an additional source of income.
"Small units," Zvik notes, "give you great return on investment because it's another way of charging rent and because of the added value of the unit."
If you care about the environment or want to cut down on your living space "small units," Zvik said, "have a small impact on the environment."
To date, Spectrum Properties successfully rented seven single-family dwelling units, each with its own detached garage for ADUs. Each unit has windows with low-emission coatings that reflect summer sunlight while keeping your rooms cooler. The units also have low-emission air conditioning that benefits not only the environment but also the wallets of the tenants.
Over the next two years, Zvik and Yavor plan to buy a further 100 houses and convert them into dual unit properties.
"Spectrum," Zvik says, " is already regarded as an expert in small scale value-added real estate investment."