We had the opportunity to sit down with Director of Operations, Faraz Aftab to learn more about Raza Property Group, Inc. and here’s what he had to say:
What is Raza Property Group Inc.?
Raza Property Group is the construction and property management division of Raza Properties. This arm of the company was established to provide high quality construction management for individuals who have invested in property and are looking for an expert in the field to walk them through this complicated process from initial acquisition to satisfied residents.
How is this different from Raza Properties?
Raza Properties is focused on development and marketing and is the foundation of the company overseeing the entire development process. The Raza Property Group, Inc. oversees construction, sales, and leasing as well marketing for other investors who contract to work with us.
Where did the idea come from to create this separate company?
It was actually an idea that I had–I have close to 8 years of construction and real estate experience and I approached Rahil Raza, who is a developer and CEO of Raza Properties. I presented the idea that the ability to do things in-house would increase our turnaround time, give us more control over projects, and increase our ability to source our projects from people we wanted to get the work.
What are the benefits to investors who utilize Raza Property Group, Inc.?
The benefits are expansive. You’re looking at hands-on experience, detail oriented construction, decisions are made based on an investor-wise philosophy, whereas a contractor may build from just a contractor side. So this takes everything into consideration since you have the experience of construction and investment/development working for you. For example, when picking out finishes, when picking out construction materials, and suppliers and getting the most value out of your investment you have someone with experience going through that with you.
Can you tell us about a current project where an investor is using Raza Property Group, Inc.?
There are many projects but two specifically I can highlight where investors are currently utilizing Raza Property Group Inc., A 3-story single family building in Point Breeze, 2031 Gerritt Street, where we are working with investor Anuj Khosla. And there there is 1127 Leopard St. in Fishtown with investor Mark Liu. Prior to starting any project Rahil and I meet to discuss the timeline and every aspect of the project in excruciating detail. This includes an overview of the timing, when permits should be applied for, when subcontractors contacted and engaged, what suppliers to use for what material, etc. This type of unique collaboration creates a well-rounded approach that draws on multiple areas of expertise to give investors a streamlined leg up on development that ideally results in a project to be finished in a more timely fashion with better quality at a more affordable rate. Because Raza Properties does a lot of development they can get deals on materials that get passed on to the investor working with Raza Properties
If you had 3 words to describe the work that Raza Property Group is doing what words would you use?
Collaborative, Practical, Profitable.
We also had the opportunity to talk to one of Raza Property Group’s most recent investors, Anuj Khosla from Khosla Properties, who is building at 2031 Gerritt St. under the advisement of Raza Property Group.
It was helpful to see from the investor point of view working with Raza Property Group, how this service has been beneficial to his success.
Can you tell us what the proposed plan is for 2031 Gerritt Street?
The Point Breeze community is seeing a resurgence in development and home values. Earlier this year, Zillow published a forecast that Point Breeze will see the fastest home value growth in Philadelphia in 2017. As expected, there’s a lot of new residences under construction. With 2031 Gerritt Street, Khosla Properties will offer a differentiated property for the discerning Philadelphian home buyer. The open floor plan layout will be complemented by top of the line finishes and an attention to detail uncommon in the “quick flip” type of properties out there.
How did you connect with Raza Property Group?
I met Rahil Raza through a mutual friend. My father taught me the importance of trust in every business relationship and together, Rahil and I have built trust over the course of our previous projects. Rahil has passion for developing and is a very thoughtful businessman. We share a common vision of building top quality real estate in Philadelphia and I’m excited to see our partnership flourish.
What has it been like working with Faraz and Raza Property Group?
It’s like an apprenticeship. Every day with Faraz & Raza Property Group team is a learning experience for me. Their deep experience gives me years of insight to effective project management and keys to delivering an excellent experience for my clients and partners. I really enjoy their coach-like attitude and transparency. Faraz is exceptionally responsive and always knows the pulse of our projects. Faraz and Rahil both have lots of wisdom to share and have such an appetite for new ideas.
Can you describe how this collaboration has benefited you and the current project?
When Khosla Properties purchased the vacant lot at 2031 Gerritt Street, we envisioned building a keystone property for our company, one that exemplified our vision of a refined modern home. Working with Faraz & Raza Property Group on the project has provided us access to the best real estate professionals Philadelphia has to offer and allowed us to execute that vision. As for me, this project has stirred my interest in architectural and interior design.
Is there anything else you would like to add or share?
I’d just like to offer my thanks to the locals of Point Breeze for their support. Before embarking on this project I spent a lot of time walking the streets and speaking with both residents and business owners to better understand their neighborhood. I got a true sense for their community and when I saw the vacant lot on Gerritt Street, I saw an opportunity to build something they would be proud of for years to come. Stay tuned for the next Khosla Properties and Faraz & Raza Property Group collaboration in Fishtown, on East Boston Street, in 6 months.
Stay tuned for updates and pictures of the progress at 2031 Gerritt Street.
To learn more about our services visit www.razaproperties.net.
Photo Credit: 1314 Studio www.1314studio.net