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Commercial Real Estate Pro Network

Commercial Real Estate Professionals who work with Investors, Buyers and Sellers of Commercial Real Estate. We discuss todays opportunities, problems & solutions in Commercial Real Estate.
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Now displaying: Page 12
Feb 12, 2016

When a complicated sale can be facilitated by a machine that can interact with the Prospect from the first communication through offer, across multiple channels in real time, that is something BIG.  That is Skyler 360.   Communication in the sales process has changed. The first sale involved a buyer & seller communicating face to face. Communication has changed.  Snail mail, Telegram, Overnight delivery, Voice messages, Faxes, Emails, Texts, Drip campaigns, Video Chat; the noise is loud and the competition for the Prospect’s attention is fierce. You spend money on advertising to make the phone ring.  The phone rings.  Is it answered? Q: How do you sift through all of the noise to find the BUYERS? Ron Sasson developed Skyler 360 to overcome this problem. Ron had an apartment complex with multiple vacancies.  He needed to fill them, and was spending money on advertisements, but his property manager was too busy tending to other issues at the property, and was unable to handle the calls.   Assessing the situation, Ron recognized that his property manager needed help.   Skyler 360 engages the prospect right away with an appropriate reply to the Prospect’s request for information.  A few brief back and forth messages between Skyler 360 and the Prospect, and the Prospect’s needs are easily determined and qualified against available units.    Recently, Skyler 360 was reviewed by Inman.com, and the Houston Business Journal. Skyler 360 can work as a standalone or can be fully integrated with MLS, your website, social media, calendar, accounting system; Yardi, MRI, etc. For a Demo: call: 713-322-4146 goto: skyler360

Feb 5, 2016
The Residential Landlord & Tenant Rental Agreement is significantly limited in comparison to the wide open language, structure and requirements written in a Commercial Lease. Recently I sat down with Marcel Gesmundo, Attorney at Bittner-Hahs PC to discuss the basic elements, requirements, responsibilities and limitations of the Residential lease. The basics elements of the Residential Lease: The Residential Lease, per Oregon Statute ORS 90.222, (which follows URLTA - the Universal Residential Landlord & Tenant Act) sets the limitations for the contractual relationship between the Landlord and Tenant, especially in a Multifamily property.   Duties of Landlord & Tenant: Landlord Tenant Renters Insurance: Q: Can Landlord require Tenant to have Renters Insurance? A: Yes, when the requirement from the Landlord is: (Per SECTION 5. ORS 90.222 is amended to read: 90.222) IMPORTANT SMALL PRINT: The information contained in this interview was for discussion purposes only and is not intended as legal advice.  For legal guidance or answers to legal questions ALWAYS consult with your attorney. DO you own more than 100 units?Want to require Tenants to Have Renters Insurance? If YES, click here for more information on how easy it is to do so.
Jan 29, 2016
Low Income Housing Tax Credits are the funding mechanism for Affordable Housing.    Since the 2008 housing crash, the demand for rental housing has exploded.  The demand has pushed rents to multiple year over year double digit increases in many markets.  Investors and market analyst remain optimistic that for the near future, these trends will continue, as new units are absorbed as soon as they are made available.     Increased rents and stagnant wage growth has lead to a problem of affordability for many renters - Affordable Housing. In my effort to better understand what Affordable Housing, I reached out to experts in Low Income Housing Tax Credits (LIHTC), Nicolo Pinoli & Warren Sebra of Novogradac & Company. There are multiple roads to take when discussing Affordable Housing and Low Income Housing Tax Credits.  We touch on: Funding the development through the LIHTC program Operation of Affordable Housing Who is eligible to rent? ?Only those earning a maximum percentage of the Area Median Income. How the rents are determined? A calculation of 30%, of the tenant’s income? The numbers associated with a sample development of a 50 unit project including: Benefit and Obligation of LIHTC What happens at year 15 Appearance of Affordable Housing: Most newly developed Low Income Housing is impossible to differentiate from market rates properties. Three key ways LIHTC are lost: RENT; Charging more than the allowable maximum rent for a unitTENANT INCOME LIMITS: Documenting tenants income when first rentedHABITABILITY: Failure to maintain the units for residents to live For more go to: www.novoco.com
Jan 22, 2016
Senior Housing Investment Opportunities - Have you considered these?   Investing in Real Estate requires knowledge of the marketplace; potential renters, who they are, what they want and their economic abilities. When considering the Commercial Real Estate investment options, you may have looked past the opportunities included in Senior Housing.   The investment opportunity eluded me, until I had the opportunity to interview Rick Lynn with Marcus & Millichap National Senior Housing Group. Senior Housing is an intersection of three markets; Housing, Hospitality & Healthcare. The marketplace is full of investment opportunity.  You can invest directly as a Landlord and lease out the operations to an operator, act as an Owner Operator providing the care to your tenants, or invest through a REIT focused on Senior Housing. There are four recognized levels of operation from least to most care required: Independent Living (IL)Assisted Living (AL)Memory Care Continuing Care Retirement Care (CCRC)This option allows movement from (IL) to (NH)Nursing Home (NH) There is a surge in demand in the Independent Living marketplace to meet the aging Baby Boomers next stage in life. FREE Senior Housing Market Research Report click: http://bit.ly/CREPN-SeniorHousingMarketReport For more information on Senior Housing investment opportunities, contact Rick Lynn with Marcus & Millichap: Rick Lynn 630.570.2228 rlynn@marcusmillichap.com
Jan 15, 2016

To lower your risk in Real Estate Investing, You Need Data. Since 1995, Axiometrics has been providing investors the needed information to make investments based on the most current month end reported data.  Each month, Axiometrics gathers data from over 40,000 professionally managed apartment properties of 50 plus units plus across the USA. Rents for every floor plan offeredOccupancy ratesConcessions Ryan Kimura provides insight on how big data provides the answers investors need to make informed investment decisions in order to maximize the return on investment.   Ryan is the Regional Director for the East Coast and specifically the Mid-Atlantic Region for Axiometrics Inc., headquartered in Dallas, TX. Currently, he assists companies operating in the Apartment and Student Housing space understand how to make the best decisions when buying, selling and managing assets by providing access to better, more accurate data. Prior to his tenure at Axiometrics, Ryan helped a Dallas based private equity hard money lending firm grow from $18MM to over $40MM in less than 18 months by originating transactions and raising capital from equity investors. During his time with the PE firm, he supported numerous aspects of the business including being an integral part of a JV partnership with a large hedge fund to buy, rehab and rent over 1000 foreclosed single family properties in Texas. Prior professional experience included growth and branding of a $500MM self-directed IRA and 401k administrator, from a local firm to a national firm. Ryan also has extensive background in real estate debt from residential to commercial to hard money.  For a FREE sample Market Narrative Summary, contact Ryan rkimura@axiometrics.com (469)621-9635.    

Jan 10, 2016
If you are doing house flips; purchasing fixer upper properties,fixing & selling for a quick profit, your short term profit options can be significant.  Insurance for this is not so easy.   The following are some good first steps: Contract: A good first question to answer: will you be doing the work yourself, or hiring a contractor.  If you are hiring a contractor, the best practice is to have:? contract in place with the contractor specifying Insurance requirements Insurance covering: Property: The proper form of Property Insurance for a renovation project is a Builders Risk Policy.  This provides coverage from the acquisition value of the structure through the completed project value.  It satisfies the requirement from lenders when required to provide proof of insurance.   Liability: Depending on the work that will be done and who will be doing, and the controls you have in place to minimize your risk, you will need to have some Liability Insurance. Premises Liability is the basic trip and fall coverage should anyone get hurt at the premises described on the policy.  This is a must, and very reasonably priced.  Completed Operations is the best option for coverage, especially if you are performing major renovations including the envelope of the building that could result in future damage to the structure. If you have any questions regarding your Quick Flip operations insurance needs, give me a call. For a sample contract and certificate example, click here. 
Oct 12, 2015
National publications about rent growth, vacancy rates and appreciation can make the news about Multifamily sound GREAT all over.  The truth is; all Real Estate is local; the news in San Francisco, is not the same experience in Topeka. Understanding the market; demographics & characteristics of the neighborhoods are essential to any predictable outcome when investing in real estate.   John Wilhoit has held positions with Maryland Housing Fund, AIMCO and HUD which provide him a tremendous background from which to draw from when assessing the different market tiers and their unique characteristics. “Who” are the people in the market? Primary Markets What is population size of a Primary Market?What is the Median Income?How many Primary Markets are there?Where are the Primary Markets?What features in an MSA define a Primary Market?Return on Investment expectations in a Primary Market Where are the 24 Hour Cities? Secondary Markets How far is a Secondary market from a Primary Market?What population size determines a Secondary Market?What is the employment picture?Is there an Airport or Sports Team in a Secondary City?What is the growth pattern like? Tertiary Markets How far is it from a Secondary Market?  How many people live in the MSA?Does rent increase in a Tertiary Market?Is there a Walmart in a Tertiary Market? Exclusive for our listeners!  Listen to receive a free full-length eBook from our guest and best-selling Author John Wilhoit.  No strings attached.
Sep 11, 2015
If you live/work in/on a building with a Fire Sprinkler System, you want to hear my interview with Matt Scarpuzzi, creater & owner of QuickStop Fire Sprinkler Tools.   Since the mid 1940’s buildings of size and particular use have been built with an Automatic Fire Suppression System, or Sprinkler System.  Early on, building owners found that the cost of installing a sprinkler system was off set with substantial discounts on Fire Insurance.  Systems have proven over time to save lives and property from significant damage.   Sprinkler heads deliver between 30 -100 gallons of water per minute.  When putting out a fire, this is great.  Once a fire is out, the system will continue to run until the supply line is drained, which can create an expensive mess to clean up.   That’s what led San Diego Fireman Matt Scarpuzzi to develop the QuickStop Fire Sprinkler Tool. The QuickStop Fire Sprinkler Tool has been used and tested by firemen worldwide and saved property owners and insurance companies thousands in fire sprinkler damage avoided.  In April 2014, Matt appeared on ABC’s Shark Tank.   To learn more about Matt and the development of the QuickStop Fire Sprinkler Tool, check out my interview. Matt has generously provided an EXCLUSIVE DISCOUNT to our listeners.  Listen and learn how you can save on your QuickStop Fire Sprinkler Tool purchase.   For more information go to QuickStopTool.com  
Sep 4, 2015

Goal setting is such an important element of success.  Sometimes life gets in the way and can derail you from your track towards success.  If this is where you find yourself, it's not too late.  Positive results are still attainable.  I interviewed business coach and mentor Gary Furr, to learn more about what to do when you realize that the year is in the final stretch and you have lost your way.  Do you abandon the plan?  Go to plan B?  Revise the plan?   Gary shares the importance of writing your goals down, and reviewing daily to develop an unapologetic focus to achieve your goals.   Give it a listen, and let me know what you think. Unfortunately, there was some technical issues with the audio near the end, and some was lost, but is on the video.  If you would like to hear & see the entire interview, please check out the video: https://youtu.be/cUrVa_LYr9w To contact Gary Furr, email him at: garyfurr@thegrowthcoachportland.com             

Aug 10, 2015
From a post in the Facebook Group, Commercial Real Estate Network regarding a refinance of a 400 unit apartment complex, I learned about Darryl Dahlen & his company Global Solutions. FREE CRE Finance Worksheet http://bit.ly/CREPN-DarrylDahlenCREFinanceWS We will dive into various topics with Darryl regarding:Current Marketplace Opportunities for Investors:Areas of the country where undervalued opportunities still existRates of appreciation year over yearTypes of financingPurchasePurchase & RehabRefinance / Cash OutLength of ownership operating required for consideration Global Solutions is an experienced commercial brokerage with years of experience that specializes in funding commercial real estate loans for domestic and international clients. Our business model is based on leveraging our strong lender relationships that have been formed over many years to bring our clients the best terms possible. Using a "square peg square hole" approach we use our 10 years of lending experience to match a loan with appropriate lender. We have an array of loan products which allows us to be extremely flexible and competitive. We can arrange financing using SBA, USDA, HUD, Fannie/Freddie, bank loans, CMBS lenders, bridge loans, and hard money or private money. While our focus in multifamily properties, we are well-versed in many asset classes and welcome any owner-occupied or non-owner occupied properties that are: Assisted LivingOffice/MedicalOffice flexLight IndustrialManufacturingSelf-StorageStrip malls/Shopping CentersStabilized Hotels
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