Miami, FL -- (ReleaseWire) -- 08/23/2017 -- Miami Beach based real estate investment firm, Ocon Group, LLC is launching expansion efforts to accommodate operational and management needs after a string of recent real estate acquisitions. The firm is looking to hire new members to the organization, specifically administrative assistants, property managers, and acquisition analysts.
Ironically, it wasn't too long ago when the Ocon Group was operated as a one man show, led by Principal & Managing Director of the firm, David Ocon. After finishing his first year of dental school in 2013, the puzzled 23 year old was at a major crossroads in his life and faced a crucial career decision: to continue (admittedly, bored & unhappy) in the path and job security that dentistry would offer, or venture alone into the cutthroat South Florida real estate market with no track record or experience in the arena. Ocon chose the latter and decided to reinvent himself through the world of real estate investment and development, a career more befitting of his grandiose ambitions and one that that dentistry could not offer him.
Without any real estate investment experience, Ocon was eager to learn from the most successful real estate investors in Miami, offering free property management and labor in exchange to pick their brains. The investor recalls regularly spending 16+ hours a day, researching, analyzing, prospecting, and filtering through the seemingly infinite properties the city had for sale. The student became obsessed; a man on a bootstrapping mission learning and actively wearing all the hats real estate afforded. Involving himself directly in everything from acquisitions, underwriting, finance, property management, bookkeeping, accounting, and everything else in between, armed the investor the education and experience into the inner workings of running a successful real estate company that could not be learned or replicated in the classroom. Moreover, it taught the real estate investor to be efficient.
His only regret? "I wish I started sooner".
Led by his hard bargaining tactics, fierce attitude and overweening ambition, Ocon's bravado landed him on the forefront of the Miami real estate investment arena, creating value wherever possible with some of Miami's top investors. Ocon notes that the successful real estate investors he learned from, were extremely hard working & disciplined individuals, intelligent across a variety of disciplines & had clearly defined goals at all times. But more importantly "they were never afraid to take calculated risks, to stand out and rock the boat".
Moreover, the investor explained that although their successful investments were largely dependent on market analysis and purchasing margins, equally as important to such investments and investors was having a management team capable of solving operational & management deficiencies in a proactive and efficient manner. Therefore, Ocon plans in the near future to also expand their construction and development arm in order to truly operate as a vertically integrated real estate organization.
A combination of the strong resurgence in the South Florida real estate market and a keen eye in acquiring properties ripe for value-add repositioning has ballooned the young investor's portfolio. Admittedly, he is a fan of utilizing debt and high leverage under the right circumstances, where significant value add potential to increase equity and cash flow are visibly present. "I took some large risks when I first started, but they were well-calculated moves that paid off". Through structured debt and recapitalization strategies, the 27-year old has amassed a multi-million dollar portfolio of well-located residential and commercial properties primarily in Miami Beach & Fort Lauderdale Beach. Elements of his acquisition criteria focus on undervalued multifamily properties in emerging or proven urban core markets as well as high end coastal residential and commercial properties.
"What makes him [Ocon] stand out is his ability to take no for answer and extract value in seemingly impossible situations," an early investor in the Ocon Group stated. Thus the Ocon Group, a real estate investment firm approach that combines acquisitions & collaborative partnerships, was born.
Ocon credits his real estate success to his early mentors and the disciplined undergraduate research studies in the Biomedical Sciences, with dual majors in Biochemistry and Biomedical Physics. As a 20-year-old, Ocon was the youngest of six students selected by the Department of Defense for a rigorous biomedical engineering pilot program developed to test new products and therapies to treat severe war injuries suffered by U.S. service members. Working alongside the brightest biomedical scientists the Department had to offer was an eye-opening experience for the scientist.
The precision, accuracy, attention to detail and discipline of utilizing evidence based practices in the laboratory translated similarly in the real estate arena, with the investor constantly adjusting his criteria, parameters & thresholds to capitalize on the next profitable success or outcome. "Consistent success in real estate is not luck, it is the disciplined combination of knowledge, timing, and access to resources". Ocon notes that knowing the real estate market intimately, down to the very street level, is necessary to succeed and meet the demands of the dynamic and complicated market that South Florida operates in.
When analyzing a prospective real estate deal, he acts swiftly and carries most of the details in his head, sharing little information about his end strategy. With little effort, he can rattle off the market value or potential of a property precisely due to his constant need for up to date market research. If you beg to differ with him, you better have a slew of market evidence and data to prove him otherwise. "By focusing on assets with strong core fundamentals and tremendous upside, we are always happy to invest our own capital in select projects in a manner that is beneficial to all parties involved".
Ocon prides on investing his own money alongside his private equity investors through joint ventures and partnerships, often sourcing the deal & executing the repositioning and continued management duties throughout the entire investment lifecycle. Now more than ever, Ocon's thirst for real estate is laser focused on scaling and growing the company to achieve new heights. "I love real estate & analyzing deals. Delivering value driven profitable results at a consistently high level to those who entrust me, brings me great personal and professional satisfaction".
About The Ocon Group, LLC
The Ocon Group (www.oconrealestate.com) is a private equity real estate investment, management, construction & development firm specializing in the acquisition of real estate assets throughout South Florida. Their investment activities focus on opportunity-driven, value-added acquisitions and development projects, primarily on the housing and multifamily sector.
Managing Director of the Ocon Group, David Ocon, states that the premise of the company is derived from creative and forward thinking real estate solutions in order to obtain a competitive advantage and higher yields from their niche real estate acquisition and development projects. His capacity as Principal & Managing Director includes real estate analysis and acquisition expertise on various asset classes of real estate. Ocon notes that "modest goals yield only modest outcomes; significant results and successful change occurs when commonly held assumptions are challenged, resources are targeted, and collaborations between management officials are synergistic". Such philosophy has allowed the real estate investment firm to uncover value and opportunities through their sophisticated market knowledge, track record, and "boots on the ground" approach.
Upon acquisition of a real estate property, the Ocon Group and their associates immediately begin their on-site presence and create value generation through add-on features, while incorporating risk-managed approaches for the preservation of capital and increase of cash flow in order to deliver high yield returns as an end result. While such projects require a higher level of due diligence, management, and on-site presence, we have consistently performed at high expectations while mitigating costs and risk.
Led by a team of highly talented and experienced professionals, our investment philosophy is predicated on the fundamental principles to control risk, maximize opportunity and capture value in every real estate investment. We offer a vertically integrated platform with a "boots on the ground" approach throughout the entire investment process from asset identification & acquisition, operations and renovation management, and final disposition of the asset.
407 Lincoln Rd Ste 6J Miami Beach, FL 33139
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