Meet Our Featured Guest, Bhuvan & Pratima Sharma:
They are known as the “King & Queen of Real Estate.” As RE Professionals/Managing Partners, they are one of the most respected couples in the Multi-Family Real Estate Profession and have an excellent reputation for what they have accomplished in a short time.
This husband and wife team are Elite Residential Real Estate Investors that have invested in properties all across the US. Overall, they have 5800 units and 29 properties in Texas, Arizona, Florida, and Georgia. As general partners, they have over 1700 units & as limited partners; they have over 4000 units.
Here are the 4 properties they currently own, located in the Dallas/Ft Worth Metroplex.
- Sierra Vista Apartments, 2775 Northaven Rd, Dallas, TX
- Oak Meadow Apartments, 11050 Woodmeadow Parkway Dallas, Tx
- Oates Creek Apartments, 1805 Oates Drive, Mesquite, TX
- Terraces on the Parkway Apartments, 1109 N Carrier Pkwy, Grand Prairie, TX
As Asset Managers, they are focusing their attention to details and being pro-active to improve their property values. They consistently review the key performance indicators, and notice trends to make improvements, resulting in an increase in overall income. Together, they have 54+ years of experience in banking, technology, utilities, & consumer industries, and 14+ years in Real Estate. They are well set to manage and operate multifamily properties. Also, they have established a great team in place to aid with real estate transactions and operations. They are passionate about asset management and taking their properties to new heights.
THE MAIN QUESTION FOR THE SHOW WAS:
“What are some of the ways that you are helping your residents and community during these critical times?”
Mr. Sharma started by saying, “As you know, the apartment industry has been hit hard by the pandemic. For example, the eviction moratorium set in place for residents has unfairly burdened many apartment owners and is only exacerbated by the new loan requirements.”
Mrs. Sharma added, “We always plan and have always kept operating expenses for rainy days. We have also gotten the PPP and some EIDL grants. We took early action as soon as COVID hit, and due to that, all our properties are operating well. Our occupancy has been in the 90s. We have kept all our staff intact throughout this time. For our residents and residential communities, we have been doing the following things.
- Working with our residents who have lost jobs to see how we can help them
- Guiding them on how to get rent assistance. We have provided a list of local organizations where our residents can get rental assistance
- Some residents are making masks for which we are paying them, and then we are donating masks to the local hospitals. We have donated over 500 masks to Children’s Hospital in Dallas and Plano, Parkland Hospital in Dallas, Baylor, and Medical City of Plano
- We have purchased over 1400 rolls of toilet paper and 10,000 gloves to give to our residents across all our properties in this time of need
- Working with local charities to provide free food several times a week to our residents
The Host, Tom Chesser, wanted to point out that even before the Covid-19 thing happened, the Sharma’s were already giving back to their resident communities & “Providing Better Living Places” by:
- Running minimal cost after school & summer school programs. We have 35 kids range from 3 – 14 yrs
- Providing kids with free meals, swimming lessons, Homework Help
- Buying computer and printer to aid with their homework
- Having Back to School Supply Distributions
- Doing ESOL & Nutrition classes for adult residents
- Hosting Soccer Competitions
- Providing Health screening programs
- Community Parties – Easter Celebration – Summer Cookout – Thanksgiving & Christmas Parties
Mr. & Mrs. Sharma were eager to explain by saying, “Frankly, that is a shortlist of what we do. We are working with the YMCA and other organizations to provide valuable after-school activities to the children, who are residents in our properties, to raise community cohesion, and keep residents staying longer and being happier. And we provide FREE… yes, FREE… back-to-school supplies for any children in the community who need them at the start of each new school year. We do this as we believe in educating the children since they are the future of our society, and to add to that; We care for the HEALTH of our residents by providing educational training on healthy living by working with local medical providers and hospitals, to offer crucial healthcare and screenings to our community members. When it is appropriate, we even arrange for English as a 2nd Language class for residents to break down communication barriers.”
When asked why they do all of this?
Mrs. Sharma instantly replied, “Well, there is a sense of social responsibility, for sure. We should all aspire to do good while we are doing well for ourselves. It is a win-win-win…, and the win for SevenSeas is happier residents who stay longer and who pay more reliably. There is a real, tangible benefit to a clear social good.”
During the interview, they also talked about being Asset Managers, Investors, their Team, and how people can get involved.
To learn more about Bhuvan & Pratima Sharma, please visit: https://www.sevenseashld.com/aboutus