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Re: US Masters / Dixon Managment
#1
Newbie
Newbie


Hi, it's Alan Dixon, CEO of US Masters here again.

I'm so glad that our fund has caused such interest on JC List. As a businessperson I don't want to interrupt JCList or the forum too much but I thought it was time to make another quick post. I appreciate that some people don't like us being in the community and some people are happy to have us around, but I thought I could help with some quick facts.

For those who missed it, I made a quick post back at Number 32 on this thread which also has my personal email address and our office number if you wish to contact us.

I'd like to give a few bits of information:
1. we have only ever left the current number of legal units in a building the same or reduced it down to say a 1 family;
2. we have not and will not ever rent an illegal apartment. We have bought over a dozen houses that have illegal apartments and we have never ever rented one out and never will;
3. all our tenants are screened for a full background check, we think they are great for this city and this community. Whilst many are new to Jersey City generally they love it and stay for the long term;
4. all of our renovations that are currently underway in every area of Jersey city have dishwashers and many have washer dryers. Clients are demanding better and better rental stock and they are getting it from us. If you've seen one of our 2011 or 2012 renovations they aren't even close to as good as our 2013 work;
5. We didn't do a good enough job after Hurricane Sandy and we apologise to all our affected tenants. We did manage to find 10 tenants whose houses were completely flooded new houses the very next day. We did have 4 teams pumping from the next day, but we still missed a lot of people and of course we couldn't help with all the PSE & G problems. We have learned a lot of lessons and will do better next time, but in a natural disaster it is very hard. Our office was flooded out of action, we had no power or phone system and after a few days getting gas became almost impossible. You must remember it was the biggest storm in NYC history. We are in the process of getting better back up facilities for future disasters;
6. We have raised rents significantly on some tenants, particularly in downtown, but these are free market tenants who in many cases were paying less than half market price. We are a business, and just like any other business we need to charge fair market prices;
7. We have renovated and rented out dozens of houses that were abandoned and have, in our opinion, materially assisted the revitalisation on of our communities;
8. I am happy to come and speak to any community organization about our fund and our plans.

And finally to Squeeg, I am the only person from Dixon Advisory who has ever posted on this list. I believe any business person who posts on an internet forum should be open and honest about who they are.

I'm not sure about your agenda for your defamatory accusations, but perhaps you would be good enough to remove the veil of anonymity?

Best

Alan Dixon
CEO US Masters

Posted on: 2013/5/21 18:28
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Re: Australians investors buying up Jersey City housing
#2
Newbie
Newbie


Hello from US Masters CEO

Hi, it's Alan Dixon, CEO of the US Masters Residential Fund.

It's my first post on the Jersey City List. It looks like a great forum and I just wanted to let you know that we are open, friendly and accountable to our fund and actions within the community.

I might be able to clear up a few of the queries/concerns/information that people are seeking on the forum.

First, the fund is publicly listed on the Australian Stock Exchange and has a website
US Masters Residential
that has plenty of information, including monthly portfolio updates.

Who we are:
$265m REIT, with long term committed capital from Australian investors. 45 staff based in Jersey City plus we use a large number of outside contractors.

Where we buy:
1. Hudson County - most areas
2. Manhattan - particularly Harlem
3. Brooklyn - particularly the North Western closest neighbourhoods to Manhattan

What is our plan?:
1. To hold properties for a minimum of 5 years, probably much longer.
2. To renovate up to the upper standard expected by renters in the neighbourhood.
3. To provide professional leasing and tenant management services.


What happens to a typical property?:
1. We only buy existing properties, not new construction or condos. Almost all the properties we buy need fairly substantial renovation.
2. We look at the floor plan, facade, structure of the house and decide how to do the renovation.
3. Relevant plans and permits are obtained.
4. Work is given to LOCAL contractors exclusively. All Hudson County work has been done by Hudson county locals.
5. When work is finished, the property is offered for lease at what we believe the current market rate is.
6. We believe we maintain our properties at the highest end of the rental market.

Important Facts:
1. We never increase the number of units in a house. In many cases we reduce the number of units. We have turned several multi-family homes back in to the grand single family homes they once were.
2. We care about our neighbourhoods. Many of our employees are tenants of the houses. We love the neighbourhoods and do everything we can to improve them. We provide tenants with long term stable rentals.
3. We have renovated numerous boarded up wrecks and taken them from the worse house on the street to one of the best. This applies to all areas that we own. This improves neighborhoods and values for all owners.

Sellers:
1. If you are interested in selling your house, ring our office on 201-942-6222 and ask for Eric Moore or one of his team to provide information so we can let you know if it may be of interest.

Tenants:
1. Check out www.dixonleasing.com to see some of the properties we have available. We have new properties hitting the market every week, so feel free to call and let us know what you are looking for if it is in future months.

Neighbors:
1. If you have any problems or concerns with a neigboring Dixon property please ring 201-942-6222 and inform reception which property you are concerned about so you can be put through to the right property manager to discuss the issues.

Any questions or inquiries for me:
I'm happy to answer any questions you may have, feel free to post on this forum or send me an email directly to alan.dixon@dixon.com.au

Hope this helps and is taken in the positive spirit in which it is intended. I'll directly answer any questions on the forum the best I can.

Best

Alan

Posted on: 2013/1/23 19:30
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