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This is the first in my series on the most common and absolute “dumbest mistakes” you’re probably making when applying for job after job.
Thank You For Hiring Me!
A thank you letter after you accept a job offer shows good taste, gratitude, and in general shows a new employer that they made a wise decision in hiring you. Most new hires do not write one, so if you are one of the smart few people who do, your rel…
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1533 sqft, 2 baths, single-family home in Gilbert, AZ - Gardens
Real estate tips from Keith Carberry of RE/MAX. From the real estate FAQ or frequently asked questions of “It’s Time to Move Up”. For more information about the show, please go to www.itstimetomoveup.tv. For more information about Keith Carberry, please visit his website at www.carberrysoldmyhouse.com.
Author: rubenbaustria
Keywords: real estate mortgage home house sell buy rent faq frequently asked questions keith carberry
Added: June 23, 2007
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Delivering on the Next Generation of REALTOR Tools and Services
Castillo names first Honduras squad
TEGUCIGALPA, Honduras (AP) New Honduras coach Juan de Dios Castillo has called up only two players with clubs outside of Honduras for friendlies next month against El Salvador and Canada.
HUFF Realty Selects QuantumDigital as Strategic Direct Marketing Partner
QuantumDigital continues to Partner with top real estate firms that seek automated lead generation marketing programs, targeted direct mail, on-demand printing, and email marketing
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So you’re alone again, big deal! You’ve always got that Secret Girl! And, she’s a lot less trouble. To all our friends at the Tube. Thanks for stoppin’ by! -BBQ Pit Boys Music: Secret Girl by Richie Reinholdt Recipe: Thin slice your favorite skinless hotdogs and apply to the top of each side of a burger of chuck ground beef. Sear each side over hot coals and then finish with indirect heat. You can print out this BBQ Pit Boys recipe at www.BarbecueWeb.com —
This will make you look at pizza differently for the rest of your life.
honeymoon destinations with sugar-white
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This photo shows the beach at the Royal Plantation.
The Couples Swept Away Negril is located on
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The following photo shows a room at the Couples
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This photo shows the beach at the Couples Swept Away
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The
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This photo shows the beach at the Sandal Negril
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You can visit the Big Day website for additional Caribbean Specials.
Orange County Fair 2010
by miha_and_cata
Orange County Fair 2010
by miha_and_cata
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AZADI FINE RUGS
is hiring for floor help/ service team to move rugs & furniture. Must be able to lift 75 pounds or more, have a valid drivers license & good…
From CareerBuilder - 25 Aug 2010 21:58:22 GMT
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Floor Helper/Sevice People - AZADI Fine Rugs - Scottsdale, AZ
AZADI Fine Rugs is hiring for floor help/ service team to move rugs and furniture. Must be able to lift 75 lbs. or more, have a valid driver’s license and…
From CareerBuilder - 25 Aug 2010 21:25:45 GMT
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2 beds, 1.5 baths, condo in Wailuku, HI - 96793
Kakae Pl, Wailuku, HI 96793, $556,980 4 beds, 3 baths
1824 sqft, 4 beds, 3 baths, single-family home in Wailuku, HI - 96793
Where to find the best commercial real estate
The profitability of any real estate investment depends a lot on your ability to locate the best commercial real estate deals available in the market. By investing in real estate deals that have the most potential, you can maximize your profits and lower your burden by investing in only a few deals per year. The best commercial real estate deals will give returns that are equivalent to three to four times the amount of your investments. If you invest in average deals, the returns will be relatively less and you will have to do more deals for getting the same returns. The amount of work and process involved are more or less the same for any real estate deal, so it is better to do less work and get a greater return.
You need to make sure that the resources used for locating the best real estate deals are accurate and reliable. For finding the best deals, you can approach reputed commercial brokers, as they are the ones who actually have the properties listed. After noting down your requirements, you can go to these brokers for getting information about the availability of properties that you intend to buy. You need to cast your net wide by calling local brokers, as well as brokers in other states that will be more than happy to call other brokers and find listings that best fit your criteria. When you approach a broker, make sure that you ask for pocket listings, or listings that are about to go on the market, but are not yet listed officially. This will help in finding the best deals and getting ahead of the competition.
The Internet can also be used for finding the best deals, as there are numerous sites dealing in the sale of a variety of properties ranging from raw land to large retail and apartment complexes. On these sites, you can get the required information about the property, as well as the broker. You can keep filtering out the information until you get to deals that suit your predetermined criteria.
Another place where you can find the best deals is probably an auction house that auctions different types of properties. Very often, you may get excellent deals that would otherwise have cost you a lot more if purchased from a commercial broker. It is necessary that you register with some of the most reputed auction houses in order to obtain e-mail notifications about properties that are put up for sale from time to time. This will give you enough time to contemplate on your investment decision before the actual bidding day. Some of these establishments also provide the option of purchasing a property at a specific price before it goes for auction. This makes it even more necessary to stay in contact with several auction houses, as you never know what opportunities might come along.
Apart from these, you can also use local resources such as newspapers, listings, and magazines for finding the best commercial real estate deals. One thing that you should always keep in mind is that the more contacts you have, the more are the chances of finding the better real estate deals. This means that rather than depending on a single source, you need to refer to as many resources as you possibly can.
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SOUTH WILLIAMSPORT, Pa. (AP) — Shao-Fei Huang drove in six runs and Hsun Hao Shih hit two long homers to lead Kaohsiung, Taiwan, to a 23-0 victory Monday over Vancouver, Canada, at the Little League World Series.
Commercial Real Estate: The Life Of A Broker
A commercial real estate broker provides a service between buyers, sellers, and rental agreements of real estate. Brokers are responsible for managing a team of real estate agents, to assist people in buying, selling, leasing, or renting commercial properties.
Properties handled by commercial brokerages often include office buildings, hotels, apartments, retail, hospitality, shopping centers, and industrial properties. For clients who are building on raw land, brokers can help assist the client in managing the construction process, including inspections, identifying zoning restrictions and building codes, and guidance to ensure that necessary steps are taken to make sure that the building is completed on time, and within budget.
When working for a seller or landlord of a commercial property, the broker has a signed agreement with the client and sets out to achieve the best possible price with the best terms for their client. While a broker is working for the seller or landlord they may also assist buyers in finding a commercial property to suit their needs, and budget. But in these cases there is never a pre-written agreement, on the buyer’s behalf.
In most states, to become a real estate broker, a license is required. This allows the broker to receive money in return for services rendered. It is illegal for a broker to conduct business without a license, unless they are a practicing attorney who is not required to sit for a broker’s license in order to receive a commission.
It is important that those interested in becoming a broker make sure that they look into their respective states guidelines on becoming a commercial real estate broker, as requirements, and regulations can differ significantly between states.
In many states, licenses are issued for a certain time frame. After that, the broker is required to complete further education to renew their licenses. These further education requirements are especially important to make sure the broker is kept up to date with real estate law updates, and changes in the industry.
How To Become A Real Estate Broker
Brokers usually start out as real estate agents. This is where they gain their industry experience, and then decide to become a licensed commercial real estate broker. In order to get a broker’s license, the real-estate agent must pass a brokers state exam, as well as complete some course work, or training. Usually, after receiving accreditation, the broker will either continue to work for another broker, as an associate broker, or start a business of their own where they will manage a team of real estate agents.
Brokers, who have their own brokerage business with real estate agents to manage, must have a very good working knowledge of legal procedures, and requirements. It is their job to educate, and advise both their real estate agents, as well as clients who come to them for advice on commercial selling, rental, or building.
What Services A Commercial Broker Provides
A broker will offer services such as an estimated value of a property, marketing of that property, and assistance to a buyer, or seller with the purchase, lease or sale of a property. Brokers may be called upon to provide for sale by owner (FSBO) document preparation, and paperwork, but in commercial properties this is much less of an occurrence than with privately owned residential properties.
A broker will also offer guides to property owners on how to sell, or rent their property, and assist with property management process. A broker will often fill out the paper work needed to sell or rent a property, although they are not given the authority to sign papers on behalf of their clients.
Commissions
Commercial Brokers receive a commission from the sale of a property. This is usually an agreed percentage of the sale price or part of the monthly rental income from the landlord. Brokers in the commercial industry must be very competitive, and have a good knowledge of their local area to make a sound income. But with these skills, there are definite monetary rewards offered to brokers. According to statistics the majority of commercial real estate brokers are on an annual income above $42,000 per annum, while some are earning a six figure income.
About the Author:
Tony Seruga, Yolanda Seruga and Yolanda Bishop of http://www.maverickrei.com specialize in commercial and investment real estate. As of May, 2006, they and their partners are managing over $600 million dollars worth of new projects.
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Dallas Airmotive has appointed Rick Burgess as Director of Materials and Systems. Burgess has been serving as the organization’s Director of IT since 2005. In his new role, he will continue to be responsible for the implementation of the company’s
Open Question: child support?
My ex-husband and I have been divorced for almost a year now. We have three children together, and he has one from a one night stand woman (so he says) before me. Anyway, when we were divorced he was supposed to pay me a little over $600 in child support for our 3 kids. I gave him a break and felt sorry for him, because I knew he couldn’t pay that much and still pay for the house he recently bought. Not to mention have food for my kids when they stay the night with him, which is at least 3 nights a week. Anyway, he pays his one night stand $352/month for one child, while my 3 kids only get $300 a month. Plus, he pays her for health insurance, while I have my kids on my insurance and he pays nothing for it. He is supposed to pay me half of out of pocket expenses and he has yet to do that. Anyway, he has a new job, and I requested a review with the AG. Now he’s ed off and says that he can’t afford to give me any more and that he’s not going to sign anything! Please help w?
Commercial Real Estate Investing: Five Ways to Make Money
Fundamentally, there are about five different ways to make money investing in commercial real estate. Each one should be considered a tool in every investor?s commercial real estate investment toolbox:
Strategy #1?Equity Buildup: Most people are familiar with the concept of increasing the equity in a property. Equity build-up is one of the key ways to make money in commercial real estate. It can be done four ways:
One is to initially buy the property below market value. This gives you immediate equity buildup. To do this successfully, it?s important to have done your ?due diligence? on your property, understand your buyer?s needs, as well be a skilled at negotiating.
The next way to build up equity is through appreciation of the property. This can easily be done if you are keeping the property in good repair and making sure that when you purchase the property, it is in an area that is growing. It?s value is bound to appreciate over time.
The third way to buildup equity is by paying down debt. The key to this strategy is to always strive to get the lowest interest rate possible on your mortgage or other debt instrument.
The fourth way to create equity is when it?s time to sell, invest the effort to sell at above market value. Again, knowing your prospective buyer, having access to critical information, and being skilled at negotiating can give you an immediate boost in equity.
Strategy #2?Depreciation: At tax time every year, you can receive an after-tax profit boost because the calculated depreciation is taken is taken as operational expense directly against your profits. There is one caveat however: You can depreciate the cost of the buildings, but not the cost of the land.
Strategy #3?Collect Rents: Getting the property to carry itself is the goal. But don?t stop there. You want the rents to not only cover the mortgage and ongoing maintenance and any major repairs - you also want the extra cashflow to perhaps pay down the debt to increase equity or fund another investment.
Strategy #4?Offer Attractive Financing: When it is time to sell the property, you can often negotiate a better deal for yourself when you offer attractive financing or more convenient terms to the potential buyer. For instance, a prospective buyer may be willing to pay a higher overall price if they don?t have to pay as much cash upfront.
Strategy #5?Add Significant Value to the Property: This is one of the most valuable ways to make money. When you add significant value to a property, you can often get a big boost in profits. Adding value can be done several different ways:
First, look at making strategic improvements. Making repairs is obvious, but also look for strategic improvements to make in the property. By strategic, we mean to concentrate only on those items that will raise the value by multiples of what they cost you.
Then, analyze whether there?s an opportunity to convert a higher and better use. When there is a higher and better use for the property, it can be worth substantially more. For instance, if you own raw land in the path of progress, you could get it converted to commercial zoning.
There is an old saying ?Buy by the yard, sell by the inch.? Applied to commercial real estate, it means breaking up a property can often increase the value. For example, you can buy raw land, turn it into a subdivision, and sell off the lots to independent developers to build on.
In summary, use this quick ?checklist? as a way to jumpstart your commercial real estate money-making creativity. It will give you some additional ways to make money you may not have thought of before.
Here?s the key takeaway: When investing in commercial property, a savvy investor will always factor in as many possible ways to make money into the investment as possible. Because that?s the name of the game?to make as much money in as many ways as you can, with the least out-of-pocket investment.
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To request your Free Report ?Prospecting for Profits: Turning Dirt Into Dollars? An Introduction to the Profession of Commercial Real Estate Property Scouting?, click here: http://PropertyScoutCash.com. Learn how you can earn 6-figures and up working on multi-million dollar commercial real estate deals–with no risk, no capital and no experience on your part. How? Simply by using the power of Internet to help our investor group find commercial property to purchase that meets their acquisition profile. |
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www.SunCityTexas.info, REALTOR Dave Graham speaks about the great buys with Sun City Texas Homes For Sale. Wow, Low-Low Interest Rates along with …
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Benefit From Low Commercial Real Estate Loan Rates
Acquiring or buying a property for commercial purposes involves huge funds and hence borrowings play a key role in real estate business. Even if there is sufficient finance at hand to own a property usually one prefers to borrow as the surplus money can be used for other business purposes. Cost of a loan is what a borrower thinks all the time as it is crucial in deciding the fate of the loan seeker. And it is all the more important in commercial real estate matters. Commercial real estate rates therefore should be carefully studied before taking the loan.
Commercial real estate loan rate depend on some basic factors. First of all it should be made clear that commercial real estate loan rates are usually lower interest rate loans. The rate of interest depends on whether the loan is secured or unsecured. Any secured loan comes at lower rate of interest rate and unsecured one with bad credit history on the top of it comes at higher rates. In case of commercial real estate loan lenders keep the very commercial property the borrower intends to buy as collateral. With the loan fully secured lenders provide commercial real estate loan at lower interest rate.
Usually commercial real estate loan rates are lower in the range of 6-7 percent. This means buying any real estate is cheaper through commercial real estate loan. But lower interest rate also depends on lender to lender and credit history. In the competitive loan market each lender has own rate of interest. Compare them and further lowered interest rate can be achieved. Your credit history also determines the rate. A good credit history certainly gives more confidence to the lender and he can lower the rate of interest. Another way is to see how much you are borrowing in relation to the value of commercial property. If the borrowed amount is way lower than value of the property you can take a reduced interest rate. See if you can make a larger down payment so that borrowings remain smaller. Surely for taking commercial real estate loan at lower interest rate one needs to fulfill some high condition like good credit history.
In case you are not that highly qualified borrower, you have the option of ‘hard money’. There are lenders who are willing to accept risks in lending money to say bad credit people at high interest rate. Hard money loans for commercial real estate buying may range 12-16 percent based on risk factors.
A lot on interest rate front depends on how many commercial real estate loan providers have you studied and compared. These lenders can easily be approached on their websites. Compare individual interest rates and settle for the suitable lender. Apply online to him for fast processing and approval of the loan.
Commercial real estate loan rates are usually lower rates but a lot depends on how much eligible a borrower is. Good credit history and lesser borrowing as compared to the value of collateral certainly enable in taking a reduced interest rate.
Tim Kelly is an expert in finance having completed his LLM in Finance from Institute for Law and Finance at Frankfurt University.To find commercial real estate loan, commercial real estate loans, commercial real estate loan rate, commercial real estate loan major in UK that best site’s you need visit http://www.commercialrealestateloan.co.uk
Commercial Real Estate Guide - Earn More With Commercial Real Estate
Commercial Real Estate refers to the property that has potential to generate extra income for the owner of real estate. Commercial real estate generally includes office buildings, retail properties, apartment units, condos and raw land. Every property that can produce revenue for the owner is known as commercial real estate. It doesn?t include habitable real estate like houses or apartment buildings.
In 21st century, large number of people is generating income with commercial real estate. Commercial real estate business is based on certain principles. These principles are generally same for property owner, developer as well as for commercial real estate agent. Commercial real estate agent helps you to identify the best features of commercial real estate agent. Real estate agent enables you to make a finest deal of commercial real estate. Commercial estate agent is helpful to both buyers as well as tenants.
You should choose best commercial real estate as per your requirements. Choose your property at best location that has great future. Commercial real estate at good location will offer more benefits in the coming days. You?ve to choose finest piece of land that you can use efficiently. You may select commercial real estate nearby high traffic areas that can be easily used for full-service restaurants, hotels, stores or other shopping malls.
Investment in commercial real estate business is the best way to get more revenues. Always keep in mind that a right time investment is the best opportunity to earn more profits. You should consult financial advisors that will provide help to find the best commercial real estate. Investment in commercial real estate is good for large as well as small-scale businessmen.
Buyers should check the reputation of commercial real estate provider. Before any type of agreement or purchase, they should check rate, terms & conditions, and other essential aspects of commercial real estate for the best deal.
About the Author: Author presents a website on Commercial Real Estate http://www.gmcommercialrealestate.com/. It provides useful information on commercial real estate. Also offers some useful tips to buy commercial real estate on cheap rates. You can also visit his site http://www.cheaprealestateinvestingguide.info/
Commercial Real Estate Jargons Investors Should Know
Commercial real estate investment is a new territory for many real estate investors. The following is the alphabetical list of most commonly used terms in this area.
Anchored tenants: big brand-name national tenants, e.g. Albertsons, Longs Drug, Walmart that bring in lots of traffic to the shopping center.
CAM: Common Area Maintenance. Associated with CAM is CAM fees. For NNN leases, the term CAM fees refer to the money tenants pay landlord to cover property taxes, insurance and maintenance.
Cap rate: Capitalization rate or the ratio of Net Operating Income over purchase price. The higher the cap rate, the higher the rental income in term of percentage. For people who invest in the stock market, cap rate is the inverse of P/E ratio.
Cash on cash: annual percentage return of your down payment not including appreciation.
Conduit loan: also called Commercial Mortgage Backed Securities (CMBS) loan often with the lower rate than traditional commercial loan but either has high pre-payment penalty (called defeasance or Yield Maintenance Penalty) or does not have payoff flexibility.
CPD: Car Per Day or traffic volume on a road.
CPI: Consumer Price Index. It’s often used to calculate annual rental increase to compensate for inflation.
Due Diligence Period: the duration after acceptance normally 15-30 days to allow buyer to investigate about the property. Buyer can cancel the contract during this time for any reasons and get full refund of the deposit.
Estoppel Certificate: a letter provided and signed by tenant confirming the current rent and terms.
Full-service lease: lease in which tenant pays rent that covers everything including utilities.
Gross income: total annual income before any expenses.
Gross lease: lease in which tenants just pay rent. Landlord pays tax, insurance, & maintenance.
GLA: Gross Leaseable Area or total rentable area. This is the space that can be leased and receive rental income. It does not include spaces for utilities room, elevator, etc.
GRM: Gross Rent Multiplier for apartment. Ratio of purchase price over annual income.
LLC: Limited Liabilities Company. A legal entity many investors formed to own commercial properties.
LOI: Letter of Intent/Interest or the normally non-binding offer letter used to make an offer to buy a commercial property.
MAI appraiser: Member Appraisal Institute commercial appraiser.
Master lease: lease signed by the seller to rent the vacant space to provide rent guarantee.
Mixed Use: commercial properties with retail on 1st floor and apartment on upper floors.
Triple Net (NNN) lease: lease in which tenants pay base rent plus property tax, insurance & CAM fees. Absolute NNN lease is NNN lease that tenants also pay property management fee.
NOI: Net Operating Income. Annual income minus Property Taxes, insurance & CAM fees.
Pad: stand alone building in a prime location of a big shopping center.
Pass Thru: see reimbursement.
Percentage lease: lease in which tenant pays base rent plus a percentage of tenant’s revenue.
Phase I Report: inspection report that provides an assessment for soil/environment contamination. It’s normally required by the lender as part of loan approval process for a commercial property.
Phase II Report: inspection report for soil & groundwater subsurface investigation. This inspection is more extensive which involves testing to see if there is any soil and water contamination.
Proforma income: potential, i.e. higher, income when the property is 100% leased.
Proforma Cap rate: potential cap rate assuming property is 100% leased at market rent.
Reimbursement: the share of property tax, insurance & CAM fees that a tenant has to pay the landlord besides the base rent.
Rent guarantee: rent paid by the seller to buyer for vacant spaces until they are leased.
SBA Loan: a government-guaranteed loan for owner-occupied properties.
The Dark City (London 15.08.2010)
by gigabi1
Learn Why Being a Commercial Real Estate Property Scout is the Absolute Best Home Based Business
If you?ve investigated peddling potions or vitamins, doing typing at home, filling out surveys, or the wide variety of Internet businesses being peddled as easy and profitable these days or any other of the variety of work at home options? if you?re like many others you?ve found it quite difficult to first get to the truth and second - decide which one is the best home-based business opportunity for you.
Whether you?re a work at home mom, or looking for a new career, or looking for a real Internet-based opportunity does not matter. Each of these groups faces the same challenge ? trying to determine exactly what the best home based business opportunity really is.
Before I chose my path, I looked at lots of these supposed work from home opportunities. Most appeared to me to me a complete waste of time and not much more than a drain on my wallet. Upon further investigation most all were.
Well ? all except one.
There is a new scenario that outshines all the rest. Based on the two main criteria for judgment ? is it reasonably doable and can I make a reasonable amount of money for my efforts ? this one is both.
After much my own investigation, one work at home situation proved itself above all the others to be the best home-based business opportunity. It is brand new ? although already 100% tested and proven ? and anyone anywhere can do it. And the money people make is pretty astonishing, too.
This radical new home based business opportunity is being a commercial real estate property scout. Since that term is new, here?s what it means:
A commercial real state property scout is a person who finds promising properties for commercial real estate investors to buy.
And again - property scouting is very ?doable? because there are only two main places the property scout looks for and finds potentially profitable properties. And property scouting pays ?big rewards? because the investors pay the property scout a VERY handsome fee for the properties that meet their profile criteria.
So in a nutshell, choosing to be a commercial real estate property scout in unquestionably the very best home based business opportunity ? bar none.
One caveat ? another reason that being a property scout is the best home based business is because it is a REAL business - not some over-hyped nonsense. That being considered, if people are looking for some nebulous and nefarious get-rich-quick idea ? they should just keep looking.
Being a property scout is not this.
It is a real, very highly respected profession run by a highly respected real company. And once again ? the beauty of being a property scout is that you can do it all from the comforts of home.
So - this problem is now solved. Being a professional property scout has resolved both of the main issues of all work at home business opportunities because it is a legitimate profession sponsored by a legitimate company, while being both doable and profitable for the property scout.
And here?s one last consideration that has already been satisfied as well ? being just recently released as a work from home opportunity, the property scouts enjoy a virgin marketplace that is not overrun by people.
Therefore, because property scouting is doable, profitable, and offers a fresh marketplace ? it is unquestionably the very best work at home business opportunity for 2007 and beyond. And one final consideration? the average person can easily understand the simple duties of the property scout and get started immediately without long, expensive, and exhaustive training.
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Commercial Real Estate Syndication: Controlling the Property
We?ve been discussing the process of assembling groups of investors for the purpose of acquiring income producing commercial real estate. As we move to getting the property into escrow so that you can verify its suitability for investment, we need to look at keeping control of the property for sufficient time to complete your investigation.
Your goal is to control the property without risking any of your money. The Seller?s goal is to extract as much money as possible from you as quickly as possible to tie you to his property. So how do you structure your purchase contract to maximize your time while minimizing your exposure? Using well structured contingencies is the answer.
As the Syndicator of group investment, you need to perform a Due Diligence investigation of the property. This is essentially a verification of the statements made by the Seller as to the condition of the property, the status of the leases, the history of income and expenses, the state of title, the existence of natural and man-made hazards, and anything else that can affect the value of the property. It is acceptable to make your purchase (and your deposit) subject to your approval of all of these conditions. Stating these conditions in your purchase contract turns them into contingencies, since your completing the purchase is contingent upon accepting the all of this information as stated by the Seller.
There are two ?special? contingencies you?ll want in your purchase offer when you are creating a group investment. The first one is that you can cancel the transaction if you cannot fully subscribe your investment group in a specific period of time. Basically, if you fail to raise the money in time, the transaction is canceled and you get your deposit back.
The second is to allow you to vest the property in another name. This might be something as simple as ?John Doe or assignee? in the Purchaser section of a standard real estate contract. This is very important to your ?survival? as the Syndicator. It is this ability to assign your purchase rights under the contract to the LLC that gives you an opportunity for ownership in the group investment.
As a practical matter though, Sellers can get uncomfortable with lots of contingencies that have long removal periods and may wait for a faster buyer. An acceptable alternative is the use of an Option to Purchase. The Option gives the option holder (you) an irrevocable right to purchase the property in the time period specified in the option. Options also tend to be less ?expensive? that escrow deposits since no one is getting tied up in purchase contract. The downside for you is that your option payment is non-refundable. If you don?t purchase the property, your option payment (called ?option money?) is gone.
Options can range from a week to a year, although most fall into a 3 to 6 month period. It is also possible to pay a small amount of money for a shorter period, say a month, in what is often termed a ?free look.? Why it?s called a ?free? look when you?re paying a few hundred dollars for it is one of those time-honored industry oxymoron?s, but it probably relates to the relatively small amount of money for the short term option compared to the longer term ones.
Realistically, you would want to structure your option to have an extension period if you discover you want the property. Of course, you?d need to pay more money with each extension. Even when using an option, you?ll still want to have your contingencies in place when you submit the purchase contract. The difference is that you?ll have less time in which to approve of them.
So now you have the two methods in which you can control a potential investment property for sufficient time to complete your investigation and raise the money with which to purchase it. Good hunting!
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WANT TO USE THIS ARTICLE IN YOUR E-ZINE OR WEB SITE? You can, as long as you include this complete statement with it: ?Craig Higdon, ?The Investment Property Insider,? works as a commercial mortgage broker. He publishes the weekly ?Investment Property Insider? e-zine and blog, http://www.InvestmentPropertyInsider.com Visit the blog and get a complimentary report on commercial financing techniques.? |
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Simple Steps to Building a Buyer’s List - Commercial Real Estate
When you are in the business of rehabbing or wholesaling real estate a buyer’s list can be your best friend. There are many ways to go about obtaining a buyer’s list such as buying one from a host of companies. However, nothing can compare to building your own list for many different reasons.
When you build your own buyer’s list, you know for sure who the people are on your list. In other words, you are not simply buying names, having no real idea if the people listed are actually interested in purchasing wholesale or rehab real estate. For that matter, you have no idea if these people are actually interested in purchasing real estate from your area. Buying a list is never a good idea as a whole.
Building your own list gives you many advantages. The people listed on your buyers list have actually given you their information personally. They have expressed an interest in buying real estate from you and what is more, they have expressed an interest in buying real estate in the area in which you offer it.
Another advantage of a buyer’s list is that it allows you to target specific areas of interest. You may have more investors looking to buy real estate on one side of town than they are on the other. Buy building a buyer’s list you have the opportunity to get a good grasp on what your buyers want and where they want it, allowing you to make the appropriate decisions on your investment. With a buyer’s list you have a better chance at selling and getting a return profit. The real estate sells quickly, in most cases, and the profit starts rolling in, if you have done your homework, research, and built a reliable buyer’s list.
With that being said, here are some steps you can take to build your own buyer’s list, without even having any property on hand at the start.
Advertisement ? Your local newspaper is the best place to start. The key is to make it realistic and eye catching. You have to stand out, but you also want the prescreening of potential buyer’s to take place through the advertisement. In other words, you want to include the types of property you intend to sell, good credit required, and serious buyer’s only. You could also stretch things a little and say you currently have 16 or 17 properties. This is ok, because you are building your list.
Provide your telephone number and maybe even an incentive for their purchase, such as a free product or something similar. Be sure to identify that you are advertising to investors.
Clubs - Another great way to build your buyers list is to join real estate investment clubs. These clubs hold meetings on a monthly basis and generally are brimming with interested, potential investors. One thing you need to take note of is that you must cater to your potential buyers. Many people buy property with hopes of selling it, then look for a buyer. In other words, they are looking for a buyer for that property. It should be the other way around, you should have a buyer, then find the property based on what they are looking for.
Keep It Fresh ? You want to make sure that your buyer’s list holds only fresh names, telephone numbers, and other information. You want to have variety as well, keep names of investors on the list that are interested in various types of properties, this will help ensure that you always have options.
Make sure you take names off the list, as they are no longer interested, leave the investing business, or move out of your area. This is an important aspect of your buyer’s list, if you do not update it, you may find that you run out of investors or buyers and create unhappy people at the same time, which could hurt your business.
Information ? The information contained on your buyers list should include the following:
? Buyer’s Name
? Buyer’s Telephone Number
? Buyer’s Fax Number
? Buyer’s Email Address
? Buyer’s Area of Preference
? Cash Closing (yes or no)
? Permission to contact with future deals
? Permission to fax or email
? Price Range for Property
? Types of Property Preferences
Once you have this information, it is important to keep it in a safe spot, where you can easily access it, such as Excel or Microsoft Word. Keeping everything at hand and organized is the best way to maximize your use of the buyer’s list. Having it stored digitally in a database will help you keep the buyer’s list fresh and new. You can easily add and remove names as necessary, giving you the most up-to-date buyer’s list possible.
Success in commercial real estate selling is dependent upon buyers and interested buyers at that. Your buyer’s list will help you build a successful empire and keep the profits rolling in at the same time.
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Getting Involved In Commercial Real Estate Investing
People choose residential and commercial real estate investing for many reasons. They may find that the property market is safer than the stock market, the potential for monetary returns is much higher than in other areas, or they enjoy buying old homes, remodeling them, and selling them for a much higher price than what they bought them for.
Whatever the reasons, investing in property requires people to know a little about the market, how to buy and sell homes quickly, and when to walk away from a potential deal. People who want to invest in should also understand tax laws and land laws in their area before they spend money in the housing market.
Taking a few business or real estate classes is a good idea for those who are just starting out. These classes are offered through colleges, private schools, or agencies. Lectures about selling will provide valuable information about what to look for when buying a home, where to spend money on improvements, and where to advertise when selling a home. Real estate investing will take up a lot of time, but the pay off could be great. Some people will sell a few homes and then retire on the money they have made. By making good business decisions, this can be the reality for many people.
Your not limited to just residential properties either. Commercial real estate investing includes properties such as retail space, office buildings, warehouses, and storage facilities are also have great potential for making money. Investing in this type of thing will generate a monthly income as long as the space can be rented out for most of the year. Those who are careful about who they rent their building to could have a steady income for a few years. Most leases on commercial properties are at least three years or more. Selling these properties can also benefit a person if they can buy another one after making the sale.
When looking at a piece of property, there is more to look at than its potential for making money. People need to investigate the plumbing, electrical, and roof structure before making a purchase. These can be very expensive to replace and may require too much time. While a home or commercial property may be large enough, the property itself may be too small.
It is important to research what these properties are worth and how much they may be worth over time when getting into residential and commercial real estate investing. This will be one of the deciding factors when purchasing property. Since the market is continually changing, property values will constantly shift from high to low. It is important to be aware of these shifts and only buy property when it will be profitable.
Craig Thornburrow is an acknowledged expert in his field. You can get more free advice on creative real estate investing and real estate investing at http://www.realestateinvestingguru.com
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Commercial Real Estate Loans
Are you considering buying a new house soon? Buying a new house is probably the biggest investment one can make in his lifetime. Buying a new real estate certainly requires a lot of money. It is not possible for everyone to finance the real estate from own sources. This is where Commercial real estate financing becomes a necessity in gaining access to the much-needed funds.
Commercial real estate loan is one of the types of real estate loan. This loan can be used to buy, improve or refinance commercial property, if you own 50% or more of the real estate. Commercial loans are the best option if you are looking for funds to finance buildings or land for business purposes. This type of loan falls under specialized mortgages owing to the fact that the lender has a legal claim over the property until the loan has been repaid completely.
Financing for commercial real estate loans is completely different game when compared to residential mortgage loans. Commercial real estate loans move faster as compared to residential mortgage loans and are more flexible. National standards require a commercial loan for any property with more than four units.
To apply for a commercial real estate loan you need to provide the following:
? Provide at least two years worth of tax records
? You need to provide balance sheet statements from the building to demonstrate its success as a business enterprise.
? You will have to make a down payment of at least 20% to satisfy commercial lending requirements.
? For small investors interest rates may be around 1% higher as compared to the residential loans.
You need a moneylender who can assure you
? Highly competitive interest rates on loans depending upon your situation
? Dedicated and pre-approved lenders with knowledge and decision making ability
? Flexible financial solutions
? Flexible terms and rate options
? Less paperwork including no financial documentation program
? Save thousands of dollars on closing cost
Today one can find thousands of financing lenders on the web. This makes it very much important to select a financial lender that best suits your requirements. It would be advisable to make use of commercial mortgage lenders database that enables direct access to your type of lender and avoid you falling in the hands of a broker.
Commercial lenders are fussy. So just relax even if your loan gets down, simply go to the next four cheapest commercial loan lenders on the list and apply with a simple mouse click. There are lots of “A” paper lenders; “B” paper lenders and easy “C” paper lenders. All you have to do is just fill an online application form and a lender will contact you within 24 hours giving you details about the loan.
Darren Dunner is a professional writer currently writing about I Loan Resource. Visit www.iloanresource.com/
for more information on the subject.
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TORONTO, ONTARIO–(Marketwire - 08/17/10) - Greater Toronto REALTORS reported 2,732 sales through the Multiple Listing Service (MLS) during the first two weeks of August 2010. This represented a 29 per cent decrease compared to the 3,832 sales recorded during the same period in 2009. New listings, at 4,770 were down eight per cent compared to the first two weeks of August 2009. “Throughout the …
Homebuyers’ Interest in Green Home Features Increases With Energy Efficiency Cited as Top Priority
EMERYVILLE, CA–(Marketwire - 08/17/10) - More than half of all home shoppers report that green home features, from energy efficient appliances to solar panels, are an important part of their purchasing decision, though only one percent of home listings market these features to buyers, according to results of a national survey announced today by real estate brokerage ZipRealty ( www.ziprealty …
1031 Exchange for Commercial Real Estate
A 1031 exchange is defined under section 1031 of the Internal Revenue Code. This code states that if an asset, usually some kind of real estate like land or building, is sold and the proceeds of the sale are reinvested in a similar kind of asset, then no gain or loss is recognized, permitting the deferment of capital gains taxes. A 1031 exchange is also called Like Kind exchange.
If an investor buys a commercial property and sells the property profitably after a period of time, he has to pay capital gains tax on that amount. But if the investor invests the amount in another commercial real estate, then he is not required to pay any tax, in which case, he defers his taxes till a later date.
To qualify for a 1031 exchange, both the relinquished property and the replacement property must be held for investment or for productive use in some business. You cannot exchange a personal residence. Once the investor decides to pursue a 1031 exchange, a Qualified Intermediary (QI) has to handle the proceedings. Then the commercial property is put on the market and the offer to buy the property is accepted. Escrow for the sale is opened and a preliminary title report is produced. The QI sends the necessary exchange documents to escrow closer for signing at property closing. Within the initial 45 days after the close of escrow on the sale of the handover property, the investor has to identify a replacement property as per law. Within 180 days after the close of escrow on the sale of the relinquished commercial property, the investor closes on replacement property that was identified by them, thus completing the exchange.
The most difficult part of 1031 exchange is the identifying of replacement property by the investor within a period of 45 days following the sale of the commercial property. The Internal Revenue Code is very strict and no extensions are allowed. It is best to carefully think about your replacement property alternatives before you chose to sell your property.
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Commercial Real Estate: Becoming A Market Expert - Part #6: Focus On The Area Of The City With The Zoning You Need
By now, you?re probably pretty well acquainted with the process on of focusing on the property type and area you want. You know the zoning which supports it and you?ve reviewed in detail the zoning maps.
Now what? It?s time for some legwork. You want to put into use some of that book learning and researching you?ve been conducting.
Take a look at your zoning maps with highlighter in hand. Now highlight the areas you want to go look at. Then you get in your car and drive around to take a look at those areas and neighborhoods.
It?s that simple. It will be an eye-opening experience.
Here?s what you want to do specifically:
First, and most importantly, take your time. This isn?t a race. There?s no winners or losers for getting it done quicker.
The expedition is about gathering information and getting a feel for the area. Your goal is to review the area and the properties on an overall basis.
As you drive around the area, take note of any properties which are in transition. Meaning they have signage that says ?For Lease?, ?For Sale? or ?Sold?. When you get back to your office check out the history of those properties. Call the owners, brokers or agents to find out more about each of the properties.
Why would you want to do that?
Well, for one thing you are looking for pricing information. For instance, how are people paying per square foot? What are the terms and conditions. The ones that are for rent are wonderful indicators, because you?ll be able to piece to together the income potential for the area.
Number two, you want understand how the market is appreciating over time. Plus, it is wonderful feeling to discover a diamond in the rough.
Number three, if a property is for sale, it just might be up your alley (no pun intended). And you can start the process of analyzing whether the property is a good deal.
Now, that you are starting to get a feel for the area, go ahead and visit the other areas highlighted on your map. You?ll notice similar but different transitionary aspects of each sub-market you scout out.
This is where it gets really interesting. Start to ask yourself why the changes. What are the reasons for the appreciation or lack of appreciation. Then get your answers from the brokers or owners you are representing the properties.
It?s important that you ask these people because they definitely have the answers you and need going forward. Your knowledge of the market will give you the opportunity to talk intelligently about the opportunities as well as the advantages and disadvantages.
The best part is you?ll start to make some good contacts, and maybe even friends or future investment partners.
As you continue driving around you?ll begin feeling more and more comfortable. The process will become easier and you?ll start to notice the nuances and details. And then you?ll automatically start making comparisons and evaluations.
Again, it is vitally important you take your time and take the time to enjoy the process of discovery.
About the Author:
Tony Seruga, Yolanda Seruga and Yolanda Bishop of http://www.maverickrei.com specialize in commercial and investment real estate. As of May, 2006, they and their partners are managing over $600 million dollars worth of new projects.
Portugal 2010
by Koendersdevries
Commercial Real Estate Investment
Investing in commercial real estate is riskier and more costly than investing in residential property - but ultimately it can be far more profitable. Whereas the stocks of major housing manufacturers have decreased over the last few months, retail and institutional investors have been investing heavily in commercial real estate, through both operating companies and investment trusts.
The profits from commercial real estate are linked to a large degree to the state of the overall economy - today, commercial property is a $4 trillion market, having increased in volume around 20% over the last five years. Most smaller investors are able to profit from commercial real estate.
The potential profits to be made from investing in commercial real estates are affected by several factors. Apart from the overall economy, the local economy and market can have a huge impact, as can the terms and length of any lease, the reliability of tenants and the overheads involved with your property.
Generally speaking, when investing in commercial real estate, to make a profit you should ideally have a long term lease from a major tenant. Finding the right tenant isn’t always easy - most commercial real estate has relatively few potential tenants unlike residential property.
During a recession, commercial foreclosures and vacancies tend to increase significantly more than residential properties. And if commercial properties remain vacant for a long period of time, owners may lose a lot of income and be forced to resell for less than the property is worth.
One method of generating a profit from commercial real estate is to look at REITs (Real Estate Investment Trusts). These are traded securities which allow an investor to take part in large scale commercial projects. REITs were created in 1960 by Congress and can be a practical alternative to bonds.
Most REITs specialize in certain types of property such as office buildings, hospitals or shopping centers. There are several benefits of REITs: they trade in the same way as stocks, so you can buy and sell them. The share price can increase in value as the property appreciates in value and shareholders also get income from rents.
Not surprisingly, REITS have become extremely popular over the last few years. Another big advantage of them is the tax benefits - by law, REITs must distribute 90% of their income as dividends.
There are several ways to invest in commercial real estate without actually having any capital. Subordination is the term for the situation in which the current owner actually takes out a second mortgage on the property to cover the difference of the amount that the purchaser has available in the form of a loan.
Another method is to persuade the owner of the property to release some acreage. That section of land can then be used to borrow money to cover a down payment on the rest of the property. Many property owners don’t even know this option exists and it can be an effective strategy when dealing with raw land.
Another method is to purchase commercial property by means of a partnership. If you are able and willing to do the work, you may be able to find a partnership that is willing to finance your deal - in exchange for a percentage of the profits, of course.
Investing in commercial real estate isn’t for everyone. But the profits can certainly be made for those who are prepared to take a calculated risk, have the expertise - and perhaps a little bit of luck.
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2006 sqft, 4 beds, 2.5 baths, single-family home in Gilbert, AZ - 85297
Winning The Commercial Real Estate Game
The game of commercial real estate can be won in many ways. It?s more of an essay test than true or false. There?s definitely more than one correct answer. A large percentage of the world?s millionaires earned their wealth through real estate investment. While nothing is a sure thing, real estate offers many opportunities for the savvy investor. Whether you want to build wealth or simply maintain it, there are several strategies that you can implement to get where you want to be. Where should you begin? You don?t want to put your hard earned money into a dead market. You want to protect what you?ve worked so hard for. Let?s look at a few of the more popular methods for investing in commercial real estate.
One of the more classic approaches to commercial real estate investment is the buy and hold strategy. In this maneuver, you buy property that is valued at a fair price. It may be a few miles away from town or outside of a development area. You then simply hold the land for a number of years. While you do this, the city comes to you. Developments are going up all around you. Yours is the last piece of raw land around and every developer in the state wants a piece of it. You, the genius entrepreneur, then sell the land for millions more than you pay for it. It couldn?t get much better than this. While this is obviously the ideal scenario, it can work like this. As you know, land is the only commodity that they don?t produce any more of. Therefore the price of your land will eventually go up.
While there is a great deal of money to be made in this sort of venture, it can take a long time to mature. This is great for someone who has a big chunk of money that they want to sit on for a few years. There is no set time limit as to how long it will take you to win. You basically have to go with your gut on this one. Should you sell it five years from now for twice what you paid for it? What if in year six, Wal-Mart wants to move in and pay you 10 times what you paid? There is really no way to know. You have to get out when you feel the time is right. Look for the signs around you. If the trends of development in your area are coming towards you, wait for a while. If you?ve had the land for ten years and the city that you just knew would be the next boomtown turned into a ghost town, you might want to get out. This strategy can produce a great return and it?s a pretty passive source. You don?t really have to do anything except buy the land and wait.
Another great way to invest in commercial property is through the rehab market. This is where you buy a run-down property that needs a lot of work done. You fix it up with a little elbow grease. Then after it?s up to par, you put it back on the market and make a tidy profit. This is a growing segment in the real estate industry. There is a definite need for this as property is always getting old. The most important thing to remember in this type of venture is you make your money when you buy the property, not when you sell it.
You must find properties that are undervalued. If you overpay, no matter what you do to the property, you?ll still come out behind. You need to find properties that need a lot of work. This has the highest potential for a great return. Don?t get involved with a property that just needs a new coat of paint and the yard mowed. This will not make you any money. In fact, you?ll most likely lose money. Stick with the properties that need the most TLC and you?ll come out on top.
Another popular strategy is that of quick turning a property. This involves finding distressed properties. You search for a great deal that is extremely undervalued. This could be a property that is facing foreclosure or a bankruptcy. Someone may take a significant cut in the price in order to get out fast. This can benefit you, the investor, greatly. You then take the distressed property and put it back on the market quickly. Since you don?t have to sell quickly, the property will get fair market value and you can make thousands of dollars in profit. As with rehabbing property, the key is finding cheap properties that you know are worth more. This is where all of the money comes from in this type of transaction. If you know the market, you can do very well with this type of deal.
For investors that already have a good sum of money saved up, there is another form of investment that is very appealing. Professionals who want another steady income can invest in expensive real estate that is already a great performing asset. This could be a luxury apartment complex or condos or any number of properties. The investor then takes over the cash flow that is generated by the subject property. They will most likely leave the existing property management in place and just take the steady cash flow. This is a great form of investment for those that are looking for a passive source of income from their investment. People who would benefit from this are usually very busy and already successful in some other walk of life. They understand that the only way to create wealth is through multiple sources of income. Diversification is the key.
Whichever method of commercial real estate investment you decide on, make sure it?s the right one for you. Consider all the factors carefully before making your decision. Just remember that you too can succeed in real estate investment.
About the Author:
Tony Seruga, Yolanda Seruga and Yolanda Bishop of http://www.maverickrei.com specialize in commercial and investment real estate. As of May, 2006, they and their partners are managing over $600 million dollars worth of new projects.
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Commercial Real Estate - Hard, Hard, Hard Money Loans
Financing for commercial real estate is a completely different game when compared to residential mortgage loans. It moves much faster and is much more flexible.
Commercial Real Estate - Hard, Hard, Hard Money Loans
When purchasing commercial real estate, financing is the most significant factor in determining whether the project is worth pursuing. Although there are a variety of commercial real estate loans on the market, we are going to look at hard money loans in this article.
Hard money loans for commercial real estate are often a matter of last resort. They aren’t good deals, but they can save a financing situation that has gone critical. Most hard money loans come with significant upfront costs and astronomical interest rates. When you are facing the prospect of losing a commercial property, however, they can be a godsend because they also are granted very quickly.
Hard money loans are considered very risky and are issued by private financing groups, not banks or lenders. The loans tend to be only available as the primary loan on the property, which isn’t that rare a situation in commercial property.
Unlike home loans, hard money loans are all about the potential sales price of a piece of commercial real estate. The party considering lending you money is not going to look at the appraised value of the property. They are going to look at the probably sales price if the commercial real estate has to be sold a few months after making the loan. Depending on the condition of the property, this figure will typically be between 50 and 75 percent of the appraised valued of the commercial property.
Put another way, a hard money loan is a short-term loan designed to get you past an immediate problem. It is undeniably a loan of last resort and is not an ultimate solution to a financing problem with a commercial property. It does nothing other than buy you time, and at a fairly hefty cost. If you are in a tight spot and can resolve the problem with a few extra months time, a hard money loan may be the answer.
Dan Lewis is with Great Western Mortgage - San Diego Mortgage Brokers - providing San Diego home loans. Great Western Mortgage is a San Diego mortgage company writing San Diego mortgages and San Diego refinance and home equity loan.
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I have a friend (happens to own the condo next door to me) who visits with me quite often. We both work from home and while we have a few differences that would not lend itself to us being friends (she 28 & single; me 39 & married) we actually can have a terrific time together. Here lately, I look forward to her “drop-by’s” and our “rita times”.. we are truly becoming buds… BUT………….. there is a big, big thing that is driving me nuts… The girl interrupts “me” (and others) all of the time, and she seems to think her “advice” is always (clearing throat) wanted. Can I please reach out to the world on diplomatic approaches to handling this… I don’t want to cut ties.. but I would like to “see” this side of her go bye-bye (or at least subside). Help!
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Tampa Commercial Real Estate 2006
Home to attractions such as Busch Gardens, Tampa is a picturesque, tropical city that derives much of its local revenue from entertainment and tourism. Art, history, and recreation are all very important aspects of Tampa. With the wide variety of culture options it presents as well as the diversity of recreational facilities in the Tampa area, not to mention the sunny environment, scenic beaches and a suitable atmosphere for playing golf. Tampa, Florida is a very compelling place to relocate a business into. Generally, the economy of Tampa is on a steady expansion and its growth is spurred by the prevalence of corporate centers which have relocated into the area. For every investor who is planning to close a good business deal in Tampa, the high-quality and rich life are available for your convenience. Tampa commercial real estate features with the display of a wide range of property types to choose from, which makes Tampa a top choice.
For investors, purchasing a Tampa commercial real estate property is not for the faint hearted. A hefty number of wealthy entrepreneurs wonder about how they can strike a great deal on leasing rates for their office or commercial establishments particularly in Tampa commercial real estate. Some think that the place has evolved into one of the most expensive locations for commercial spaces and office sites. On the contrary, the Tampa commercial real estate market actually offers the most affordable commercial lots and properties in the United States. Tampa commercial real estate property owners of could even demand on high prices for office rents because all the amenities are provided for in site where the building was developed.
Realtors agree that the Tampa commercial real estate market is still very much a competitive selling market not only because of an exceptional market that allures relocation but also because of low interest rates. Moreover, the buildings are robust and stable, and will continue to be in the next few years. New project developments are always on the rise and have become a normal part of Tampa commercial real estate life.
Research studies have also shown that the number of Class A office establishments has been growing in Tampa commercial real estate commercial market. The momentum of this real estate market shows no signs of slowing down.
For a new business commercial investor, searching for Tampa commercial real estate for sale is pretty much the same process as finding residential real estates. Often there are separate listings, but most of the things you learned about buying residential real estate apply straightforwardly to commercial real estate as well.
Tampa commercial real estate listings are usually available for your viewing on the Internet or through real estate companies. Real estate agents can guide you through the listings and constrain your search to a few ideal properties that suit your needs, thus saving you wasted time and effort of looking through commercial real estate properties you would never buy.
It is also important for you to have a considerable background on real estate markets as well. For those who are planning to buy a Tampa commercial real estate property, chances are that you have a premeditated purpose in mind. This allows you to identify whole set of parameters that you will be assessing for, such as the size, shape and site of the property. Preparing a detailed portfolio of your needs and wants in your ideal property will also facilitate the agent in finding the most appropriate commercial real estate that you need.
First, you should contact a local real estate agent. Many agents specialize in specific fields. Finding one that works mainly in commercial real estate can be of benefit to you. It?s also important to find an agent who knows the area and local real estate market. Don?t be afraid to do research yourself, as the more you know about the local scene the easier it will be to spot someone who isn?t as knowledgeable. You may also want to ask for a list of references. Experienced agents will eagerly provide you with a list of past jobs and experiences. The intimate details of a particular property can be the difference between a sure buy and a disaster, so the more knowledgeable your agent, the better off you?ll be.
Location is the most important thing when looking at a given property. This is one place where commercial real estate differs greatly from residential real estate, as you?ll want a property with proximity to very different things. There are hundreds of things to consider; note how close your property is to the following areas:
? Highways
? Metropolitan areas
? Similar commercial ventures
? Residential areas
? High population zones
? Popular commercial ventures that can help you get more business, such as theme parks, zoos, monuments or other local attractions
Of course, remember the effect of negative neighbors as well as positive ones. According to your particular target population, a property may have more or less value depending on its neighbors.
Because of this, if you?re looking through Tampa commercial real estate for sale and trying to find the property for you, make sure you contact a local real estate agent. Going to the real estate yourself can also be one of your most valuable sources for information, so be prepared to spend time viewing potential properties.
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Buying Guides of Commercial Real Estate
Buying Guides of Commercial Real Estate
If you are looking for the perfect storefront or an apartment complex to generate some extra income, commercial real estate can be a solid investment. Halfvalue enables you to search for commercial real estate properties nationwide. These are few guidelines which will help you to buy a perfect commercial real estate.
* Find out Commercial Real Estate Commercial real estate is potentially any real estate other than a single-family home. The term generally applies to office buildings, apartment complexes, retail properties, warehouses, educational buildings, and manufacturing facilities. Commercial real estate can already have a business on it, like a gas station or a restaurant. It can also be unused space, like a vacant lot or mini-mall.
* Goals of Your Commercial Real Estate Buying commercial real estate can be a good way to invest your money. Most people start buying commercial real estate for one of the following reasons: a specific business use, extra rental income, or to build equity.
* Build equity with Commercial Real Estate Equity is the value of the owner’s share in a property. When you finance a large sale commercial real estate purchase, you’re borrowing the money from the bank and slowly paying the bank back. With each dollar you pay back, that much of your equity is growing. Think of it as the ultimate piggy bank, where every dollar you put in gives you a little more of the property. And if your commercial real estate property appreciates, that single dollar can end up being worth more than a dollar. As the value of your commercial real estate property increases over time, so does your equity.
* Plan Commercial Real Estate Investments No matter what kind of commercial real estate property you buy, real estate appreciation is usually a slow process. You’ll need to make a solid plan and account for potential problems.
* Finance Commercial Real Estate Before you secure financing, it’s important to know exactly what you can afford and how much risk you’re willing to accept. Determine whether the rental rates can support the expenses of the property, including but not limited to the loan payments, taxes, insurance premiums, and repair and maintenance.
* Pick the right Commercial property Before you can decide what kind of commercial real estate property you want to buy, it’s important to take into account your skills, ability, and the amount of time you want to put into it. If you can afford a 10-unit apartment complex but don’t have the time (or the stomach) to deal with 10 different tenants, then maybe a duplex is more your speed. If you’re a do-it-yourselfer, then maybe you can buy a fixer-upper and make more money by doing the work yourself.
* Tax and investment goals Consult an accountant and make sure you structure your investment to meet your tax and investment goals. There are many commercial real estate books available on Halfvalue to help. You learn more about buying commercial real estate property and how to make it work for you.
* Buy Commercial Real Estate With Confidence The information contained in this Buying Guide is intended for general information purposes only. You should conduct your own due diligence into all aspects of a real estate purchase and depending on your situation; you should get assistance from experts, including a licensed real estate broker, a property inspector, title/escrow company, attorney, and/or financial advisor.
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Commercial Real Estate - How to Ask Your Discovery Questions
In order to make a successful commercial real estate investment you need to know the right questions to ask and the right way to ask them. Since purchasing commercial real estate is a negotiation between the buyer and the seller (and probably their prospective brokers), it is important that you, as the buyer, are prepared. Asking the right questions could help you avoid owning an underperforming asset.
Remember, both parties are trying their best to get what they want, but their goals are diametrically opposed. The seller is trying his or her best to get the highest possible price, while the buyer is trying just as hard to get the property for the least possible amount of money. There?s an old saying in the business: ?All sellers are liars, all buyers are thieves.? While I don?t believe in either scenario as a way to do business, those commercial real estate investors who are able to create a win-win transaction will enjoy huge advantages over their more combative competition. And the key to doing that is in your questioning technique.
Finding and creating these win-win deals isn?t easy, but making them happen is the basis of successful real estate investment. In many ways, finding the best deals boils down to knowing which questions to ask and is one of the most important of all real estate ?secrets.?
The key is to ask plenty of open ended questions of either the seller or his agent and to not accept a simple ?yes? or ?no? answer. If you ask an open ended question and get a yes/no answer, your immediate reaction should be to follow up with additional open ended questions! Obviously, if you keep getting yes/no?s to your questions, it may be time to find a more cooperative and serious seller.
Some of the leading questions smart real estate investors use include:
? What can you tell me about this piece of property?
? What makes this particular property a good investment?
? What is it like dealing with the city?
? Tell me about your tenants ? neighbors ? city, etc.
? What can you do to help me get into this property?
? What financing are you willing to carry?
? What are your neighbors like? Or ?how easy are the adjacent property owners to
deal with?
? How quickly do you need to close? Why?
? Why are you selling the property ? now?
? What is the existing financing? How can it be assumed?
? What are the down payment requirements?
While the straightforward approach and strategy generally works the best, many successful real estate investors have also found success at using the ?Columbo Technique.? For those of you too young to remember, Columbo was a dumpy-looking fictional detective who always seemed a couple of cents short of a dollar. However, he had this process where he?d get up to leave after seeming to conclude his suspect interviews and would say something like: ?Oh, Mr. Jones, one more thing ?? And that question would usually catch the perpetrator off guard. I suggest trying it during your discovery process. It can be very enlightening!
You?ll need to develop your own list of questions as you do more transactions and I suggest even rehearsing them or incorporating them into some form of due diligence checklist. The bottom line is that the better you question, the better your deals will be.
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WANT TO USE THIS ARTICLE IN YOUR E-ZINE OR WEB SITE? You can, as long as you include this complete blurb with it: Craig Higdon, ?The Mortgage Black Belt,? is a commercial mortgage broker. He publishes the weekly ?Investment Property Insider? e-zine and the ?Real Estate Secrets Blog? (http://www.RealEstateSecretsBlog.com). Sign up now and get a bonus FREE report at http://www.ExcelsionMortgage.com/CommercialNewsletter |
Profit From Commercial Real Estate Investments
Property investors have now turned their attention towards the lucrative deals presented by the commercial properties. This sudden interest is the result of the option to diversify your property investment portfolio, along with a high income and tax breaks. However, it is advisable to conduct a research before taking the plunge.
Commercial properties include hotels, malls, medical centers, retail stores, business and industrial property. These are operated for a profit from rental income or capital gain. Some common commercial property types are:
- Apartments and multi family units: These are the first choice of investors. Apartment financing and management is very similar to that of residential properties.
- Mobile home parks: These can be a profitable investment option especially if you own the land and sell the mobile homes.
- Retail properties: More than one tenant occupies the premises and it is utilized for retail transactions.
- Offices: This category includes suburban garden offices, suburban high-rise offices, medical offices and central business district offices.
- Mixed use properties: These properties are a combination of all the above property types.
- Health care units: They include assisted living centers and congregate care centers and nursing homes.
- Hotels: The properties are categorized as either limited service or full service.
- Industrial premises: These properties can be used solely for industrial purposes.
- Self-storage units: The consumers use them for personal storage or for lease.
- Other specialties: These include oil change facilities and gas stations.
According to a reputed New York based real estate research firm, the price of apartment complexes rose by 26%, retail properties by 14%, industrial properties by 21% and office buildings by 6%, in 2004. Commercial property investment is very profitable but it is a complex business, as compared to investment in residential properties. There are number of factors that affect the property evaluation of commercial premises. It pays to study the market and tread cautiously.
Boom in commercial real estate property:
Commercial real estate includes, but is not limited to, properties used for educational, medical, commercial or industrial purpose. The properties are usable in business or trade and can be sold or bought in the real estate market. The improvement in the economy and growth in business ventures are responsible for the revival of commercial real estate. Another important reason has been the continuous flow of new investment capital. This capital is sourced from people who seek higher returns from large investments. The areas that come under the category of ?commercially profitable? carry a higher evaluation, as compared to other properties in developing areas. The rates for commercial real estate properties are calculated differently from the method adopted for residential properties.
The rental yields are better for commercial properties and the monthly cash flow is more than that of residential property investment, in the same area. The quoted expectation of returns depends on the kind of business that would be transacted on the premises. The profit from commercial real estate investments is definitely much higher than profit generated from investments in residential properties. Investment in commercial real estate is as lucrative as investments in stocks and bonds.
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Joe Kenny writes for SelectLoans.co.uk, a UK personal loans comparison site, visit us today for information on all loan topics including debt consolidation loans and links to leading UK providers. Our Site: http://www.selectloans.co.uk/ |
ABC of Commercial Real Estate Loans
You want to buy a property for commercial purpose. But lack of finance has turned out be a problem. Now in such situations, who will help you? Well, no need to worry! Help is around you and is known as commercial real estate loans. These loans are specially tailored to help you when you have decided to purchase a real estate for commercial purpose.
Commercial real estate loans can be used for any purposes such as:
Foe agricultural use.
For specific business use
For purchasing motel, shopping malls etc.
To get commercial real estate loans, you need to place any of your property as security for the loaned amount. This security acts on behalf of the borrower and ascertains the safe return of the loaned amount to lender. As commercial real estate loans are secured by nature, lender often offers several beneficial features to a borrower such as:
A good amount of money
Wider repayment duration
An attractive rate of interest etc.
All sorts of credit holders can access commercial real estate loans for their own purposes. Thus bad credit holders can also obtain the loaned amount under commercial real estate loans to meet their needs. Moreover by repaying the loaned amount on time, they can also get a chance to improve their bad credit score.
Go for World Wide Web if you want to access commercial real estate loans easily and satisfactorily. Here you can meet several lenders just according to your choices and your requirements. Moreover here you can get free loan quotes which you can compare with each other by loan calculators, comparison tools etc. In this way you can easily get he best existing offer regarding commercial real estate loans in the market.
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Tim Kelly is an expert in finance having completed her LLM in Finance (Master of Laws in Finance) from Institute for Law and Finance at Frankfurt University. To find Commercial Real Estate Loan, commercial real estate loans, commercial real estate loan rate visit http://www.commercialrealestateloan.co.uk/ |
Real Estate India, Indian Commercial Real Estate Investors - Property Sales In India
Commercial real estate sector is in boom in India. After liberalization of the economy, Indian real estate business took an upturn in the last fifteen years. With the advent of multinational companies to India to set up base here, especially the IT sector ,the demand for land has risen up and with that the prices have also shot up. Research estimates that Indian Real Estate market is expected to grow from the current USD 14 billion to a USD 102 billion in the next 10 years. ..
The main growth thrust is coming due to favorable demographics, increasing purchasing power, existence of customer friendly banks & housing finance companies, professionalism in real estate and favorable reforms initiated by the government to attract global investors.
In India, the commercial real estate requirement is led by the leaders of the IT industry, this includes the BPO and ITES sectors.
It is estimated that the demand for space by the IT/ITES sector alone is expected to be 150 million sq.ft by 2010.
The demand for land in metro cities like Delhi, Mumbai and Chennai is huge and prices for the same have shot up to huge proportions. These cities are expanding in a huge manner to accommodate the ever demanding requirement for land. For example, Bangalore which is considered as the IT capital of India, is already short of land and is expanding to create something called as Greater Bangalore. This is to dedicate land to the IT and BT (Biotechnology) industries.
The increase in purchasing power has resulted in big retailing companies setting up base in India; as a result there is a mushrooming of retail centers across the country.
The industrial sector is experiencing a huge surge, resulting in increase demand for land. There is a shortage of land in bigger cities, which has resulted in companies setting up bases in smaller cities. These cities are also called as Two-Tier cities.
Indian real estate is experiencing an overall growth in all sectors like IT, BT, Industies, Healthcare etc,apart from this , in urban India, there is a shortage of space in the residential sector by approx 6.7 million housing units. The bigger cities are expanding to accommodate the growing population and as a result there is a huge demand for land.
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To know more about Indiarealestate visit Indiarealestatewiki.com |
What Is The Best Commercial Real Estate Loan?
This question came from Kiho Kim in Anaheim, California and, surprisingly, doesn?t have a straightforward answer. When someone asks me that question, I know that they?re probably focused on one thing: The loan with the lowest interest rate. Unfortunately, in commercial real estate, this approach can end up costing you a lot of money.
When you get involved in commercial real estate, you become involved in a more sophisticated method of investing your money. Commercial real estate and commercial real estate loans have a lot of ?moving parts? and the approach that commercial lenders take is far different from those in residential lending. When considering financing on a piece of investment property, you have to approach the process with ?commercial mortgage planning? in mind.
What is commercial mortgage planning? It?s a process in which all aspects of the loan are considered in the context of the commercial real estate investor?s current portfolio, future portfolio goals, style of investment, and cash flow needs. Let?s see how this works in a practical example and then use that example to further answer the original question in the first paragraph.
Which is the best loan? A 3/1 ARM with a declining 3 year pre-payment penalty of 3%-2%-1%, a rate of 6.75%, a full amortization of 30 years, and a margin of 2.50% over 6 Month LIBOR, or a 10 year fixed rate loan due in 10 years, with a 30 year amortization, at a rate of 5.9%, with a Yield Maintenance prepayment penalty until 9.75 years have passed?
On the face of it, the 30 due in 10 is almost a full percentage point less in rate! No brainer, right? Let?s fill in a few more details and see if this analysis stands.
The investor contemplating the loan is an active real estate investor who purchases properties that have vacancies or month to month tenants that are slightly run down and in need of upgrades. He holds properties until re-tenanted, renovated, and then sells them to generate cash for new purchases in a 1031 Exchange to preserve his buying power.
In light of this information, the 30 due in 10 would be a terrible loan. It?s likely that such an investor would be ready to sell the property in the 3rd year to take advantage of the 1031 Exchange holding period and provide a stabilized leasing history to a new buyer. He?d only face a 1% pre-payment penalty using the 3/1 ARM, something he could easily factor into his ?costs.? The fixed rate loan with its Yield Maintenance pre-payment penalty could literally cost him hundreds of thousands of dollars, depending upon market conditions, when he goes to sell the property. In fact, it would likely contain a ?lock out? clause completely preventing a payoff for up to 4 years. That loan would have to be assumed by the new buyer and the difference made up in cash, limiting the potential pool of buyers for that property.
So how does this example answer our question: ?What is the best commercial mortgage?? This way: ?The best commercial mortgage is the one that best fits the commercial investor?s short and long term goals, risk tolerance, investment style and the investment at hand.? And as a side note, be sure to work with someone experienced not only in commercial loan brokerage, but who will take the time to consider all of the factors that could affect the current and future transactions.
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WANT TO USE THIS ARTICLE IN YOUR E-ZINE OR WEB SITE? You can, as long as you include this complete statement with it: ?The Investment Property Insider? is published by Craig S. Higdon, a veteran commercial mortgage broker. He publishes the weekly e-zine and blog, http://www.InvestmentPropertyInsider.com, for commercial real estate investors, developers, and industry professionals. Visit the blog and get this free report: ?The 7 Biggest Loan Mistakes Real Estate Investors Make And How To Avoid Them.? |
Beginners Guide to Your Commercial Real Estate Lease
Trying to completely cover the leasing process in a few paragraphs would be understating its importance. Your rent will be one of, if not the single largest monthly expense. Upon finding a location satisfactory, you must then be able to negotiate the lease to terms which will facilitate your startup, coincide with your anticipated opening (which in our industry is imperative), insure your long-term profitability, and make it possible for you to sell your business in time to someone who may continue on successfully. In order to do so, you must understand that everything is negotiable in a lease. Anything is fair game for discussion. And the stronger your business plan and financials, you will find the more flexible landlords will be.
Negotiating a commercial real estate lease needn’t be a battle. Remember, and you shouldn?t have to remind the landlord of this, that it is in both of your best interests that you are successful. If you lease on bad terms, you go out of business, and they have no tenant. In fact, many landlords now recognize that providing “superior tenant service” begins by making the lease negotiation process as simple and efficient for tenants as possible. As important as it is to arrive at a lease agreement that meets the needs of both tenant and landlord, long delays over minor details serve neither party.
It has become more commonplace that landlords have ?standard? alternate clauses prepared to substitute should the situation dictate. This prevents delays in legal counsel having to re-prepare specific language repeatedly.
If you choose to deal with an agent, make sure that they are looking out for YOUR best interest. Just hiring an agent doesn?t commit them to your success. Bear in mind that oftentimes they are going to be paid by the landlord for filling the space. Building a relationship with your agent can be done, just as building a relationship with your banker, your realtor you bought your home with, or your advertising agent ? with communication. Ask around, ask other agents, ask the agent questions, leave nothing to question.
Terminology
Some basic terminology, to simplify the explanation process.
Request For Proposal (RFP): To be sent, via your agent, to the landlord to request a copy of their standard lease form agreement. The RFP will address many important issues but should always include a section outlining the tenant’s expectations with respect to Common Area Maintenance (CAM) and Tax Escalation.
Standard Lease Form Agreement: The standard lease that every landlord has prepared for any commercial property up for lease. Terms and language may differ from property to property, landlord to landlord, but remain very similar in structure.
Base Rent: The asking price for the space itself, not including any taxes, maintenance, insurance, or any type of financed money that may be used for buildout.
CAM: Common Area Maintenance. Do not assume or mistake CAM for Triple Net, or you may be in for a surprise.
Triple Net: The total between the CAM, taxes, and insurance. Depending on the number of other tenants, you may pay a pro-rata share of this cost, or if you are a free-standing unit, you may have the entire cost.
Gross Rent: The base rent plus the Triple Net. This should be the amount you expect to pay throughout the lease.
Vanilla Box: Very vague terminology that can vary tremendously. Generally defined as primed drywall shell, concrete floor, basic commercial lighting, electrical to breaker box, and basic HVAC. Depending on the landlord?s understanding of a ?vanilla box?, you may walk into more or less than this. Make sure the ?vanilla box? is clearly defined in the lease.
CPI: Consumer Price Index. CPI is a government derived number to measure the value of a dollar relative to previous years. CPI is typically the factor used to figure any increase in lease amounts from year to year or during option periods because the government updates the number on regular intervals and it is easily accessed.
Build Out: Also called TI, or Tenant Improvement. This is the amount of money estimated to go from ?vanilla box?, to a finished club minus equipment. Build out is a major bargaining tool for you, especially while trying to startup with little cash on hand.
Option Periods: Option periods are the time periods, if any, following the initial lease period. Option periods are very important because of the potential fluctuation of lease amounts that may occur. This reveals the importance of the CPI and asking for a cap on the increase. You must define as stringently as possible the costs operating in the future of your business. If not, you may end up paying whatever the market will bear, and that could either put you out of business, kill your profits or business value, or make is simply impossible to sell.
Before getting into specifics of the lease, remember your objective: Secure the space you want, at the best rate possible, keeping as much money in your pocket as possible, until you decide you want to/are able to, sell at a good price to someone who can continue to make money. When you sell your business you are selling this lease also, so make sure you negotiate with that in mind.
A brief overview of the basics of a lease:
An initial lease period of (x) years, option periods to extend after the initial period. If the landlord is uncomfortable with the option periods, you may extend your initial period to 7 or even 10 years, depending on your assessment of the area. For a longer lease term, if your business plan and financials are strong enough, you may negotiate for a lower lease amount per square foot. Security over a longer duration is more valuable to the landlord than high dollar, short term, shaky tenants.
When negotiating option periods, your objective is to define your future rent as accurately as possible. To do so, the rent should be adjusted relative to the CPI, and a cap of no more than three percent yearly should be in place.
I recommend asking for a number of months free rent and/or half rent for several months, from the date the Certificate of Occupancy is issued. Your business needs time to get healthy and grow, and this no rent/reduced rent period facilitates that.
When negotiating the buildout, the ideal scenario for you would be that the entire amount will be paid by the landlord. Again, if you have the financials and the business plan, the likelihood of this happening goes up. Even if you don?t have strong statements, you can still get some help here. You may get a percentage of the buildout paid for (ideally the larger ticket items ? HVAC, electrical, etc.), or the landlord may factor the amount into your lease and you repay it over time, or a combination. Be careful that any concession on the landlord?s behalf isn?t overcompensated for in your dollars per square foot lease amount. If the landlord refuses to pay for any of the buildout, you may have to get them to move on the free/discounted rent duration, or some other facet of the lease.
You should be able to sublet space in your own space to another small, related business. This may be chiropractic, massage, or physical therapy. All considerations should be included, from insurance and liability to the access to the building allowed to these subcontractors.
There should also be a specific clause in the lease pertaining to your right to assign the lease without undue landlord interference. At any point you decide it is time for you to sell, dealing with a generic right to assign clause is a headache you want to avoid. This is a clause that you may want to have your attorney draw up, to make sure it is strong enough to prevent a problem.
The Lease should contain exclusions that the landlord will not accept competing businesses in the same center or specified area. This should include all other fitness centers, and may include tanning centers, weight loss centers, supplement stores/juice bars, massage therapists, etc.
Signage should not be overlooked by the tenant, as you can be sure that the landlord hasn?t. First, make sure of your legal rights in your community as they relate to signage. Research sign codes and get in writing exactly what those rights and codes are from the landlord. It must be absolutely clear to both parties exactly what the expectations are with the signage. Size, colors, attachment, etc., all have to be defined and understood in order to avoid any last minute surprises due to violations.
One final note, but certainly not lacking in importance, is the required guarantee on the lease. Similar to banks, most landlords will want you to sign as a business, as a personal guarantor, and possibly a co-signor will be needed. It is in your best interest personally to not sign as a personal guarantor, if at all possible. If the business guarantees the lease, and something goes wrong, the business is liable, but you are not personally. If you personally guarantee the lease, then the landlord may come after your personal assets to satisfy the amount of the lease. This is extremely important if you are involved in a partnership or corporate entity in which the financial burden is unbalanced, meaning someone in the group has more to lose financially. The personal guarantee will also reflect directly on each person?s financial statements. This will be very important when you decide, either individually or as a company, to borrow more money. All of this should be addressed in the business plan ahead of time. If the financials are strong, you may be able to sign as a business, and not worry about the personal guarantee. If not, one way to negotiate is to ask for a clause which will let you sign personally for a designated time period, and then if your business and financial statements are healthy enough, to resign as a business only, removing the personal guarantee, and continuing the remainder of the lease.
To increase the likelihood that you sign the lease that you need and are going to get what you pay for, make sure that you:
? Describe in detail the landlord’s responsibilities to tenant. For example, a carefully drafted lease will set forth the hours during which heating and air conditioning will be provided and will establish agreed-to temperature and humidity ranges.
? Define what constitutes a default by the landlord and describe the remedies available to the tenant if the landlord fails to perform its obligations. Many landlord lease forms eliminate these provisions entirely or severely water down the remedies available to the tenant.
? Provide a method for quick, inexpensive and final resolution of any disputes over the lease.
? Don?t get too emotional about a space or time frame, and make sure you have your money before you sign for anything.
? Negotiate for the future of your business.
Other ideas to consider further:
Option to buy property
Sound proofing the location.
Rent averaging ? lower rate escalating yearly to higher rate.
Substantial and Partial Destruction and Timely Remedies.
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Nick Berry is a Fitness Professional and Health Club Owner, who is also with The Fitness Consulting Group, working with other Health Club Owners and Fitness Professionals, focusing primarily on the financial and real estate aspects of their businesses. Find more articles and the ?Fitness Riches Newsletter? at http://www.fitnessconsultinggroup.com |
http://HousePaintersAustin.com/ Residential Painters Austin TX
Residential Painters Austin TX is a service of Southern Painters also known as HousePaintersAustin.com they have been providing excellent professional painting and decorating services local to auction for over 20 years. The Residential Painters Austin TX is lovingly serviced local to Austin in these Zip Codes: 77001, 77020, 77040, 77060, 77080, 77201, 77230, 77290, 77277 and 77223 Introducing Residential Painters Austin TX to the residents of Austin Texas is probably only a formality. It is quite like that you have already heard about Southern Painters, maybe even used their professional painting and decorating services in the past. Obviously times have changed over the last 20 years, more advanced techniques and equipment are used to decorate and restore property. Not that the basic principles have changed very much, you still get a very high quality service with a professional touch, only much better than 20 years ago! Southern Painters are professionals all the way, from a registered and certified business to qualified and licensed employees who are mostly local to Austin. Services include: Residential Painting and Decorating Business Contracts Exterior Painting Contracts for both business, residential and public works. Wooden Window Frames Rendering Fences Barns And much more, just call the service telephone number for advice on services. Whether you are decorating one room in your family home or the whole property, no job is too big or small for Southern Painters. Your family home deserves the best possible dcor; calling in qualified professionals will give your rooms that extra pizzazz. Business premises also benefit from a proper finish to paintwork both on the interior and exterior. Your customers may not say as much, but they do appreciate a nice paint job. Your employees might certainly say something about how nice the office space looks after a painted finish by Southern Painters. There are good painters and there are exceptional painters, Southern Painters fall into the category of exceptional as their already massive portfolio shows. It takes a special type of business to survive 20 years and more, respect, honesty, great value for money and excellent workmanship are all qualities that make a great local company and is what Southern painters give to their customers. To get a fantastic quote that does not cost a dime give Southern Painters a call on their customer services telephone number, which will be answered by one of the companys polite representatives to take your details. Just telephone (866) 930-0934 or visit HousePaintersAustin.com to get your free estimate.
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The Future of Commercial Real Estate
Although serious supply-demand imbalances have continued to plague real estate markets into the 2000s in many areas, the mobility of capital in current sophisticated financial markets is encouraging to real estate developers. The loss of tax-shelter markets drained a significant amount of capital from real estate and, in the short run, had a devastating effect on segments of the industry. However, most experts agree that many of those driven from real estate development and the real estate finance business were unprepared and ill-suited as investors. In the long run, a return to real estate development that is grounded in the basics of economics, real demand, and real profits will benefit the industry.
Syndicated ownership of real estate was introduced in the early 2000s. Because many early investors were hurt by collapsed markets or by tax-law changes, the concept of syndication is currently being applied to more economically sound cash flow-return real estate. This return to sound economic practices will help ensure the continued growth of syndication. Real estate investment trusts (REITs), which suffered heavily in the real estate recession of the mid-1980s, have recently reappeared as an efficient vehicle for public ownership of real estate. REITs can own and operate real estate efficiently and raise equity for its purchase. The shares are more easily traded than are shares of other syndication partnerships. Thus, the REIT is likely to provide a good vehicle to satisfy the public?s desire to own real estate.
A final review of the factors that led to the problems of the 2000s is essential to understanding the opportunities that will arise in the 2000s. Real estate cycles are fundamental forces in the industry. The oversupply that exists in most product types tends to constrain development of new products, but it creates opportunities for the commercial banker.
The decade of the 2000s witnessed a boom cycle in real estate. The natural flow of the real estate cycle wherein demand exceeded supply prevailed during the 1980s and early 2000s. At that time office vacancy rates in most major markets were below 5 percent. Faced with real demand for office space and other types of income property, the development community simultaneously experienced an explosion of available capital. During the early years of the Reagan administration, deregulation of financial institutions increased the supply availability of funds, and thrifts added their funds to an already growing cadre of lenders. At the same time, the Economic Recovery and Tax Act of 1981 (ERTA) gave investors increased tax ?write-off? through accelerated depreciation, reduced capital gains taxes to 20 percent, and allowed other income to be sheltered with real estate ?losses.? In short, more equity and debt funding was available for real estate investment than ever before.
Even after tax reform eliminated many tax incentives in 1986 and the subsequent loss of some equity funds for real estate, two factors maintained real estate development. The trend in the 2000s was toward the development of the significant, or ?trophy,? real estate projects. Office buildings in excess of one million square feet and hotels costing hundreds of millions of dollars became popular. Conceived and begun before the passage of tax reform, these huge projects were completed in the late 1990s. The second factor was the continued availability of funding for construction and development. Even with the debacle in Texas, lenders in New England continued to fund new projects. After the collapse in New England and the continued downward spiral in Texas, lenders in the mid-Atlantic region continued to lend for new construction. After regulation allowed out-of-state banking consolidations, the mergers and acquisitions of commercial banks created pressure in targeted regions. These growth surges contributed to the continuation of large-scale commercial mortgage lenders going beyond the time when an examination of the real estate cycle would have suggested a slowdown. The capital explosion of the 2000s for real estate is a capital implosion for the 2000s. The thrift industry no longer has funds available for commercial real estate. The major life insurance company lenders are struggling with mounting real estate. In related losses, while most commercial banks attempt to reduce their real estate exposure after two years of building loss reserves and taking write-downs and charge-offs. Therefore the excessive allocation of debt available in the 2000s is unlikely to create oversupply in the 2000s.
No new tax legislation that will affect real estate investment is predicted, and, for the most part, foreign investors have their own problems or opportunities outside of the United States. Therefore excessive equity capital is not expected to fuel recovery real estate excessively.
Looking back at the real estate cycle wave, it seems safe to suggest that the supply of new development will not occur in the 2000s unless warranted by real demand. Already in some markets the demand for apartments has exceeded supply and new construction has begun at a reasonable pace.
Opportunities for existing real estate that has been written to current value de-capitalized to produce current acceptable return will benefit from increased demand and restricted new supply. New development that is warranted by measurable, existing product demand can be financed with a reasonable equity contribution by the borrower. The lack of ruinous competition from lenders too eager to make real estate loans will allow reasonable loan structuring. Financing the purchase of de-capitalized existing real estate for new owners can be an excellent source of real estate loans for commercial banks.
As real estate is stabilized by a balance of demand and supply, the speed and strength of the recovery will be determined by economic factors and their effect on demand in the 2000s. Banks with the capacity and willingness to take on new real estate loans should experience some of the safest and most productive lending done in the last quarter century. Remembering the lessons of the past and returning to the basics of good real estate and good real estate lending will be the key to real estate banking in the future.
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Chad Mayes is the creator of CEMLending.com, a resource which provides commercial mortgage loan financing and hard money lending options. This article is copyright of CEMLending.com. This article may be reproduced as long as author’s name and all links remain intact. |
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Getting no respect at the grill? This week to help Celebrate the Memorial Day Weekend we’re showing you how to make your own Chef Hat and Apron out of some old bed sheets. See the pattern at the Threadbanger blog: www.threadbanger.com
Burger recipes for the BBQ grill - Perfect grilled hamburgers
www.howdini.com Burger recipes for the BBQ grill - Perfect grilled hamburgers What’s better than a thick, juicy burger fresh off a charcoal grill? Elias Iglesias, executive chef of Mortons, The Steakhouse, shares one of his delicious burger recipes and tips for grilling on a charcoal grill. Keywords: burger recipes burger recipe grilled burgers grilled hamburgers grilling burgers
Chef Jason Hill of www.CookingSessions.com shows you make a delicious and easy BBQ chicken recipe in this episode of "Chef Tips." After visiting the North Shore’s roadside huli huli chicken stands, Jason heads home to the chicken to share his version of Hawaiian BBQ chicken. First, prepare your BBQ chicken marinade the day before you plan to grill. Though you can prepare this as a BBQ rotisserie chicken, the results are more flavorful when you cut chicken into pieces. This recipe for BBQ chicken uses a flavorful marinade that includes brown sugar, honey, pineapple juice, sesame oil, fresh grated ginger and crushed garlic. When cooking BBQ chicken, consider using a smoker box. For authentic Hawaiian BBQ, use kiawe wood (known in America as mesquite chips). Once the honey BBQ chicken sauce has soaked into the meat overnight, remove from the refrigerator and cook over high heat, skin side down, turning a couple times. Then, move to the low burner and shut the lid, where it will slowly cook and smoke for about 30 minutes, or until the internal temperature reaches 165 F. The smaller pieces will cook more quickly than the larger breast pieces. Serve this with your favorite mac salad, cole slaw and white rice. Go to http for the full printed recipe.
Commercial Real Estate Market in Florida
Florida commercial real estate market is showing signs of recovery after a brief quiet period following two recent hurricanes that struck the Sunny State. Commercial real estate for arcades and shopping malls is seeing a metamorphosis in order to adapt to the needs of the current-day shopper. Generally, real estate prices in Florida have consistently been showing an upward trend for the past couple of months. Florida commercial real estate re-sales are on the rise as well. The most eager of real estate buyers come from minority groups such as Latin Americans and Asians. Open-air commercial real estate is a new concept in Florida that is recently taking charge. Shopping centers are the typical applications of this real estate concept. Open-air shopping centers are a variation on group retailing. Hence, shopping centers constitute a core segment of the Florida commercial real estate sector. Enclosed malls are slowly relinquishing their dominance to open-air centers because of the distinguishing feature that open-air centers offer more retail space than traditional walled malls. Commercial real estate for shopping is thus manifesting novel trends. Adaptation is the key to survival in the commercial real estate business in Florida. Redevelopment of the commercial property is the most practical action that the property owners should do. Convenience and ambience are top factors that current-day shoppers consider.
For those who are looking for a commercial property in Florida, recognizing the type of business to venture into as well as the choice of desired location are two important things to consider. There exists a wide variety of commercial property types that clients might be interested in, from retail establishments to office spaces.
Commercial real estate properties are generally classified into two major categories, namely retail properties and investment properties. The category of retail properties covers shopping malls and shopping centers, chain store locations, franchise sites, retail shops and locations, and showrooms. The category of investment properties includes commercial rental properties, residential developments, net leased properties, office spaces, and business parks.
The categories for commercial real estate locations are high-tech property areas which include those for medical laboratories, research and development parks, and call centers; land brokerages, which cover sites allotted for industrial parks, waterfront properties, land tracts, and resort properties; hotel and resort property category, which are exemplified by locations for hotels, motels, stadiums, convention centers and theme parks sites; and industrial and distribution property locations for warehouses, airports and factories.
Despite high prices, Florida is generally an attractive place where one could start up a business. Florida offers a lot of potential sites to situate enterprises, and all of these have a high chance of creating substantial returns. Some areas that could stir your interest are Martin, Miami-Dade, Broward, St.Lucie and Palm Beach Counties in South Florida; Sarasota and Manatee Counties in Sarasota; Hillsborough, Pasco and Pinellas Counties in Tampa Bay; Fort Myers and Cape Coral area in Southwest Florida; Orange, Seminole, Lake, Polk, Osceola and West Volusia Counties in Orlando/Central Florida; Leon, Franklin, Jefferson and Wakulla Counties in the Tallahassee area; and Duval, Clay, Putnam and Nassau Counties in Jacksonville/Northeast Florida.
Whichever area particular you choose the attractiveness of this region to tourists and foreign investors ensure that obtaining a property in the Florida commercial real estate is something that will benefit you in the long run.
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Earl Juanico |
