Saturday, August 13, 2011

Blue Asset Management LLC Adds Online Rent Payment to Platform

Charles Blumenkehl, managing partner for Blue Asset Management LLC, announced his company has made online rent payments available to its tenants via its property management online platform.

According to Charles Blumenkehl , “As more households make more of their monthly payments online, we see a more pronounced need as property managers to offer this service to our tenants, thereby allowing them the option to quickly, conveniently and safely manage their rental payments online while enabling us to make our rent collection process easier and more efficient.”

Blumenkehl added that in addition to tenants being able to make their rent payments online, they can now also submit maintenance requests online, and prospective tenants can submit their rental applications online as well. Said Blumenkehl, “By adding this feature to our property management systems, we hope to better serve our tenants and streamline the rent payment and collection process while lowering our vacancy rate and attracting tenants to our properties by employing our cutting edge technology.”

Charles Blumenkehl has owned and operated real estate in New Jersey since the late 1970’s. Blumenkehl founded Blue Asset Management LLC to leverage the opportunities resultant from the mortgage meltdown. For more information about Charles Blumenkehl or Blue Asset Management LLC log onto the company website at www.blueassetmanagementllc.com or call the company directly at 973 835-1400.

Sunday, May 15, 2011

Blue Asset Management LLC Adds Online Rent Payment to Platform

Charles Blumenkehl, managing partner for Blue Asset Management LLC, announced his company has made online rent payments available to its tenants via its property management online platform.

According to Charles Blumenkehl , “As more households make more of their monthly payments online, we see a more pronounced need as property managers to offer this service to our tenants, thereby allowing them the option to quickly, conveniently and safely manage their rental payments online while enabling us to make our rent collection process easier and more efficient.”

Blumenkehl added that in addition to tenants being able to make their rent payments online, they can now also submit maintenance requests online, and prospective tenants can submit their rental applications online as well. Said Blumenkehl, “By adding this feature to our property management systems, we hope to better serve our tenants and streamline the rent payment and collection process while lowering our vacancy rate and attracting tenants to our properties by employing our cutting edge technology.”

Charles Blumenkehl has owned and operated real estate in New Jersey since the late 1970’s. Blumenkehl founded Blue Asset Management LLC to leverage the opportunities resultant from the mortgage meltdown. For more information about Charles Blumenkehl or Blue Asset Management LLC log onto the company website at www.blueassetmanagementllc.com or call the company directly at 973 835-1400.

Saturday, May 14, 2011

Blue Asset Management LLC Weathers Floods in Northern New Jersey

Blue Weathers Floods

WAYNE, NJ, May 04, 2011 /New Jersey PR News/ -- According to Charles Blumenkehl, managing partner of Blue Asset Management, "This has been a most unusual winter, bringing a dozen snowfalls and seemingly monsoonlike rain to the area. The result was that, for the first time since we owned the property, we experienced flooding in our Little Falls rental property twice in one 12 month period, causing evacuation of the property. In addition, several of our properties in close proximity to the river experienced minor flooding and damage from the abundance of water." According to Blumenkehl, the floods which took place in 2010 were worse than the recent flooding, and resulted in the installation of new walls, flooring, kitchen and bathroom cabinets and vanities, and a myriad of other repairs and remedial activity to mitigate the damage caused by the flooding. The 2011 flooding, while not as high or as prolonged as the floods last year, will result in the replacement of much of the new materials installed in 2010.

Blumenkehl continued, "It is such a shame to see the investment we made in our property needing replacement so quickly. We have owned real estate in the area for more than twenty years, and I have never seen flooding come so close to each other in such a short period of time. Hopefully," said Blumenkehl, "we won't have to experience anything like this for a long time, if ever again."

Blumenkehl added that while flood insurance will help to offset much of the damages incurred, it still adds to the companies already robust work list resultant from the many acquisitions his fund has made in the past months. Blumenkehl continued "Our crews and contractors are working six and seven days a week to catch up to the workload on our new acquisitions and complete the work we were unable to do because of the tough winter we experienced. This will add to the burden, and since it is a priority to repair the flood-damaged properties so our tenants can move back in quickly, we will see some of our other projects further delayed."

Blumenkehl was pleased that none of his tenants in the area suffered damages to their property since there was sufficient notice before the flooding took place. He has only received notice from one tenant that they do not intend to re-occupy their premises even if it is restored within the period provided for in the lease agreement.

Located in Wayne, New Jersey, Blue Asset Management LLC owns, manages and operates numerous rental properties throughout northern New Jersey. For more information about Blue Asset Management LLC, call the company directly at 973-835-1400 or log onto the company website at www.blueassetmanagementllc.com.

Friday, April 15, 2011

Blue Asset Management LLC Weathers Floods in Northern New Jersey

According to Charles Blumenkehl, managing partner of Blue Asset Management, “This has been a most unusual winter, bringing a dozen snowfalls and seemingly monsoonlike rain to the area. The result was that, for the first time since we owned the property, we experienced flooding in our Little Falls rental property twice in one 12 month period, causing evacuation of the property. In addition, several of our properties in close proximity to the river experienced minor flooding and damage from the abundance of water.” According to Blumenkehl, the floods which took place in 2010 were worse than the recent flooding, and resulted in the installation of new walls, flooring, kitchen and bathroom cabinets and vanities, and a myriad of other repairs and remedial activity to mitigate the damage caused by the flooding. The 2011 flooding, while not as high or as prolonged as the floods last year, will result in the replacement of much of the new materials installed in 2010.

Blumenkehl continued, “It is such a shame to see the investment we made in our property needing replacement so quickly. We have owned real estate in the area for more than twenty years, and I have never seen flooding come so close to each other in such a short period of time. Hopefully,” said Blumenkehl, “we won’t have to experience anything like this for a long time, if ever again.”

Blumenkehl added that while flood insurance will help to offset much of the damages incurred, it still adds to the companies already robust work list resultant from the many acquisitions his fund has made in the past months. Blumenkehl continued “Our crews and contractors are working six and seven days a week to catch up to the workload on our new acquisitions and complete the work we were unable to do because of the tough winter we experienced. This will add to the burden, and since it is a priority to repair the flood-damaged properties so our tenants can move back in quickly, we will see some of our other projects further delayed.”

Blumenkehl was pleased that none of his tenants in the area suffered damages to their property since there was sufficient notice before the flooding took place. He has only received notice from one tenant that they do not intend to re-occupy their premises even if it is restored within the period provided for in the lease agreement.

Located in Wayne, New Jersey, Blue Asset Management LLC owns, manages and operates numerous rental properties throughout northern New Jersey. For more information about Blue Asset Management LLC, call the company directly at 973-835-1400 or log onto the company website at www.blueassetmanagementllc.com.

Wednesday, February 16, 2011

Blue Asset Management in Market for New Jersey Apartment Buildings

Blue Asset Management LLC, buyer of mortgages, distressed and investment real estate in New Jersey, is seeking to buy apartment complexes and buildings in northern New Jersey.

According to Charles Blumenkehl, managing partner for Blue Asset Management LLC, “We believe we are reaching the bottom of the real estate market. The opportunity to buy residential rental properties and the demand for rentals are as good as we have seen in many years.” Blumenkehl continued, “We are aggressively seeking to add to our existing inventory of residential rental properties and are scouring the northern New Jersey market for opportunities.”

Blumenkehl says his group currently owns over 30 buildings in the northern New Jersey market, including 6 or more buildings each in Hudson, Bergen, Passaic and Morris Counties. Blumenkehl added, “With the residential rental market strengthening substantially, we can’t get apartments quick enough.” Blumenkehl invites anyone who has apartment inventory for sale or knows of buildings for sale in northern New Jersey to contact him directly at the main office of Blue Asset Management LLC in Wayne New Jersey.

Blue Asset Management LLC was founded by Blumenkehl in 2008 to leverage the opportunities which became available as a result of the real estate and mortgage meltdown of the last few years. For more information about Charles Blumenkehl or Blue Asset Management LLC, log onto the company website at www.blueassetmanagementllc.com or call Mr. Blumenkehl directly at 973 835-1400.

Monday, February 14, 2011

Spike in Mortgage Rates May Slow Down Housing Recovery

According to Charles Blumenkehl, managing partner of Blue Asset Management, the recent spike in interest rates could dampen the housing recovery

Soon after President Obama made a deal with Republicans to extend the Bush-era economic recovery initiatives, interest rates spiked to their highest levels since June and debt prices sharply fell. According to Charles Blumenkehl, CEO of Blumenkehl Companies and managing partner at Blue Asset Management LLC, “The sudden rise in interest rates to the consumer are disconcerting, Typically, a rise in rate in a normalized market could increase an urgency for buyers to get into the market before rates have a meaningful impact on their buying power.. But in the current market, real estate sales are not responding well to the incentives that are not being offered. With unemployment hovering close to 10% in most of the county, it is likely higher interest rates will dampen any meaningful real estate recovery in the first quarter of 2011”.

Blumenkehl did note that the decrease in demand has varied throughout the country, and pointed to reports that actually noted increases in certain markets including an increase in value of 3% in the New York area for 2009, as an indicator that while it may take longer, ultimately the real estate market will recover.

Blumenkehl added. “God stopped making dirt a long time ago, but hasn’t stopped making people, In the short term, anything can happen, but history has shown that in the long term, real estate will only become more scarce and as a result more valuable.”
For more information about Charles Blumenkehl or Blue Asset Management, log on to their companies website at www.bluemanagementllc.com or call the company directly at 973-835-1400

Tuesday, February 1, 2011

Blue Asset Management Restructures Mortgage in Sussex County

Charles Blumenkehl, CEO of Blumenkehl Companies and managing partner of Blue Asset Management LLC, announced his company has completed a mortgage restructuring for property owned in Sussex County New Jersey. The property was purchased in 2005 at which time they originated a 6.5% mortgage. The property was recently refinanced at a rate of 3 7/8%. representing a huge savings.

According to Blumenkehl, “Obviously we are thrilled at the ability to refinance the mortgage and substantially increase our returns on our property. As a valued customer for many years, we were able to leverage our excellent financial loan track record and payment history and take advantage of the available historic low rates of today’s mortgage marketplace despite the increase in restraints imposed by banks. We are continuing to maintain dialogues with our lenders throughout New Jersey and are seeking to restructure several more properties as well while giving our lenders the certainty and confidence of being paid back on their investment timely while maintaining meaningful collateral ratios to the benefit of their stockholders.”

Blumenkehl continued, “As the economic recovery continues to manifest itself in increased buying opportunities for our company, the ability to restructure our loans supports our equity investments we are currently making in New Jersey. We look forward to making the right equity investments in the New Jersey property acquisitions we are buying now that are undervalued and provide the opportunity to increase in value through our value enhancement procedures, systems and renovations while supporting our efforts through working with our banks on restructuring financing on our current property portfolio.”

For more information about Charles Blumenkehl, Blumenkehl Companies or Blue Asset Management LLC, log on to the company website at www.bluemanagementllc.com or call Charles Blumenkehl directly at 973-835-1400.

Saturday, January 29, 2011

Maintaining a Local Footprint Goes a Long Way

We are successful on our projects for one reason becasue we have built an infrastructure of effective real estate brokers, contractors and other required service providers and a depth of knowledge in their markets in Northern New Jersey that enables us returnsupwards of 30%+ oncertain funds we manage and control.

Many national funds have purchased mortgages at deep discounts from their originating lenders. Funds concerned with a lack of local knowledge wouldn’t buy notes that companys like ourselves, who know and specialize in our local northern New Jersey urban and suburban markets, have allowed our fund to purchase properties that were in areas that wouldn’t require higher maintenance or management intensity other properties might. As a result, we have seen yields on some of our investment properties above 30%, and are please to be able to achieve a high level of results for our investors.

Blue Asset Management Encouraged by Paterson, New Jersey and Other Inner City Holdings

Blue Asset Management LLC is almost completely occupied on all its Paterson properties including a series of multi-family buildings acquired in Paterson, which it added to its previously owned Paterson apartments, according to Charles Blumenkehl, CEO and managing partner for Blue Asset Management.

“We see Paterson as a city that is in support of a stable and well maintained housing supply and we are doing our part locally to support that effort," said Blumenkehl. Many buildings have also been and are being revitalized in the city helping to support the need for housing but being able to stabilize and provide proper maintenance to all these properties, not just newly maintained and renovated units is a big plus for all.”

Charles Blumenkehl grew up in Paterson and has been active in the residential real estate business since 1977. He founded Blue Asset Management LLC in 2008 to leverage the opportunities resultant from the mortgage meltdown which he forsees extending itself for the next few years, combined with the myriad of contacts, networks and effective systems he has developed over the years.

For more information about Blue Asset Management LLC or Charles Blumenkehl log onto the company website at www.blueassetmanagementllc.com or call the company directly at 973 835-1400

Thursday, January 6, 2011

Blumenkehl Properties Releases Its 2011 Property Management Investment Report

Charles Blumenkehl, CEO of Blumenkehl Properties and managing partner for Blue Asset Management LLC, announced his company has released its 2011 Property Management Investment Report highlighting strategies and programs the company plans on in 2011.

According to Charles Blumenkehl, attention to property stability, value enhancement and protection, and the acquisition of new assets are among main highlights of their report.

“To minimize risk and maximize return, we are focused on running tightly monitored property management systems lending themselves to responsible asset management and acquisition, while understanding and controlling the investments that we will make in our properties in the upcoming year,” Blumenkehl said. “We must be ready for bumps in the management process, while focusing our efforts on lowering management costs, increasing collectibles and containing property operational costs,” Blumenkehl continued.

Among those areas singled out by Blumenkehl as part of their overall strategy of increasing existing yields on managed real estate are
- Savings in energy costs by taking advantage of the deregulation opportunities recently created in New Jersey
- Lowering insurance premiums by shopping insurance carriers and coverages while maintaining value coverage in line with the current market trends
- Renegotiating interest costs on mortgages wherever possible, and opening dialogue with mortgage holders and new lenders desiring to do business with the company because of its strong financial track record of loan repayment
- Reduction of property taxes through engaging a more aggressive and rigorous tax appeal process in many of the municipalities the company owns real estate in
- Lower water usage through the installation of low-water consumption devices in many of their buildings.

Blumenkehl has been managing real estate for over 30 years, and describes the upcoming year as one of opportunity and long term increased returns through proper planning. For more information about Blumenkehl Properties, Blue Asset Management LLC or Charles Blumenkehl, log onto the company website at www.blueassetmanagementllc.com or call the company directly at 973 835-1400.

(reprinted from press release dated 1/2/11)

Wednesday, January 5, 2011

Blumenkehl Properties Enters in Agreement with Energy Plus

According to Charles BLumenkehl, CEO and managing partner, Blue Asset Management LLC has entered into an agreement with Energy Plus, an independent utility company licensed by the State of New Jersey, to supply electric on a test basis to one of their properties in New Jersey. According to Blumenkehl, the property, a garden apartment complex located in Paterson, New Jersey, hopes to save between 10-15% on its electric cost, which will translate to several thousands of dollars saved in electric costs a year.

According to Charles Blumenkehl, "With the deregulation of utilities in New Jersey, we have chosen Energy Plus as a potential partner to service our utility needs. We are hopeful to reap the benefits of the anticipated savings made available though deregulation of utility providers, and hope to add more buildings once we are satisfied Energy Plus has implemented meaningful savings and service to our company."

Blue Asset Management LLC is a buyer and seller of performing and non performing notes and distressed real estate. The company also maintains a portfolio of properties in Bergen, Passaic, Hudson and Morris Counties in New Jersey. For more information about Charles Blumenkehl or Blue Asset Management LLC lo onto the company website at www.assetmanagementllc.com

Energy Plus® is an independent energy company that has been licensed by the Connecticut Department of Public Utility Control (DPUC), the Maryland Public Service Commission (PSC), the New Jersey Board of Public Utilities (BPU), the New York Public Service Commission (PSC), the Pennsylvania Public Utility Commission (PUC) and the Public Utility Commission of Texas (PUCT license # 10172) and works with local utility companies. Energy Plus provides electricity services through Energy Plus Holdings LLC and natural gas services through Energy Plus Natural Gas LP. and maintains its mission to supply energy to home or small business at the lowest possible cost.

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