Tuesday, September 26, 2017

New Roanoke City Manager, Bob Cowell, Speaks at REI of Virginia This Week

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Hi Everyone,

We have a fantastic meeting lined up this week with the new city manager of Roanoke City, Bob Cowell. 

Our former city manager Chris Morrill resigned “for another job” right after creating a 4 million dollar budget shortfall for next year and adding several million in additional spending for the city during his short time as City Manager.  His solution to pay for deep pocket spending was to add several new taxes to the citizens such as a rain tax, garbage tax, higher collections of fines and fees, etc. These are all things he did when he was the Assistant City Manager for Savanna Georgia. 

Our new city manager is known, in the City of Amarillo Texas, as the City Manager who was involved in many of the cities most expensive projects.  From development for the city of Amarillo to a downtown facelift. From development of their transportation infrastructure to it’s water and waste water operations. These are some of the projects that Mr. Cowell has spearheaded. 

It will be great to talk with the new City Manager about what he has in store for Roanoke. What plans he will be implementing for our housing stock. To increase property values across the city. What types of things he will do to fight blight and if he is interested in working with REI of Virginia to develop working solutions to do so. Former City Manager, Chris Morrill, made it clear, that he will never hold tenants accountable for their own actions, even though the city code says they have the right to do so. His response to that was he should take that statement in the Code out. 

Residential Landlords in Roanoke City own 63% of all of the property. Many neighborhoods numbers are over 85%. Due to this, any workable plan must have involvement from our organization. 

It’s going to be a fun meeting. See you there!

Monday, September 11, 2017

High Return Investment Opportunity In Renewable Energy This Week

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 ****Meeting below rescheduled to this week due to flight cancellations last week.

Hello Everyone,

This week we will have our friend, Private Wealth Manager Andy Ingram, with one of the company founders from Greenbacker Renewable Energy flying out to meet with us.  


These days it’s been tougher to find attractive cap rates in real estate. This renewable energy asset added to your portfolio averages an outstanding 12.5 - 14% return and sends you dividends every month. 

Buy 2030 it’s estimated that 70% of new power generation will come from renewable sources. Greenbacker buys power plants that obtain their energy from things like wind, sun, dams, geothermal, etc. 

More information about Greenbacker Renewable Energy Company:L

Bio of our speaker flying in to meet with us:

David Sher – Director, Greenbacker Renewable Energy Company
Mr. Sher has been a board member since our inception in December 2012. He has served as Chief Executive Officer and a Senior Managing Director of GCM and Greenbacker Group LLC since August 2012 (having previously served as a Managing Director of Greenbacker Group LLC since February 2011), as well as a member of GCM’s investment committee. He has also served as Chief Executive Officer and as a director of GREC since November 2011. 
Prior to joining our company, Mr. Sher was a senior adviser at Prospect Capital Corporation, a mezzanine debt and private equity firm that manages a publicly traded, closed-end, dividend-focused investment company, from June 2009 to January 2011. Prior to joining Prospect Capital, Mr. Sher was a serial entrepreneur founding a number of ventures in the financial services and brokerage industry. In 2002, Mr. Sher was a founder and Managing Director of ESP Technologies, a leading provider of financial software and services to institutional asset managers and hedge funds. In May of 2007, that company was sold to a group of investors. Prior to co-founding ESP, Mr. Sher was a founder and CEO of an online brokerage company, ElephantX dot com Inc. Additionally, in September 1997, he co-founded, developed and managed Lafayette Capital Management LLC, a statistical arbitrage hedge fund. Mr. Sher also spent six years at Bear Stearns where he developed trading ideas and strategies for correspondent clearing customers from 1991 to 1997. Mr. Sher holds a Masters of International Affairs from Columbia University and Bachelor of Arts in Political Science from Rutgers University.
Mr. Sher was selected to serve as a director because he is our advisor’s Chief Executive Officer and has over 20 years of executive experience in various areas, having previously served as founder and CEO of several companies, including two broker-dealers. He has substantial private equity and investing experience involving originated loan transactions, including serving as a senior adviser at Prospect Capital Corporation, a publicly traded business development company (NASDAQ: PSEC). He also has experience working in the renewable energy sector, including a transaction involving the proposed sale of a 28MW biomass power plant to a private equity firm.

It’s going to be a great meeting. Come on out and learn about this investment opportunity. See you there!
 

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