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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 6
Dec 2, 2016
A conforming real estate deal has a conforming property, and a conforming buyer.  A real estate deal with a hurdle or two, is non conforming.  These non conforming deals need creative financing to get the deal done. Adam Cohen, founder of Westone International, always sees the opportunity where others do not.  He thinks outside of the box.  It's what he’s best at.  When it comes to non conforming deals, creative financing is the answer. What is a non conforming deal that needs creative financing?    Properties that have been on the market for too long or have high vacancies, deferred maintenance or management that doesn’t care.  Sellers that are tired of owning and want out, or a lender that is ready to let go to cut their losses are all examples of what properties that need creative financing look like.   How does Creative Financing work? Hard money rewards those that can get the needed work done fast.  It will crush those who can't figure out how to get the work done.  Hard money lenders charge more than banks, and mostly limit the length of the loan to less than twenty-four months.  The additional cost must be considered when creating budgets and profit projections.   Best Advice to be successful: Do a proper analysis Know your marginsItemize all your costsMap out your transactionHave working capital so you can buy rightReserve properly for the what if'sLine up your contractors a head of your purchaseGet your calendar set For more information: www.westoneinternational.com www.adamcohentoday.com
Nov 25, 2016
Buying and selling commercial real estate is a game of poker.  If you know the cards your opponent has, you have an edge.   The cards in Commercial Real Estate are market data. If you don’t have the market data, you might be betting against a full house instead of a pair of two’s.  How can you know what the potential for a property is if you don’t have the data? Get your 10 Reasons to Choose Costar Fortunately, not everyone does their the homework, and that creates opportunities for those in the know. What kind of data can help you make a purchase or sale? The easy market data is the property physical characteristics: address, square footage, year of construction, and owner.  This is the easy information that you can get at the county courthouse.   Fortunately, the collection of all things data can be useful for these specific questions through the use of BIG data.  One specific company that collects and provides information to subscribers is Costar.   If you make your money when you buy, are you more likely to make money on a property that is listed, or an off market property with an owner that has been thinking about selling? What class of asset are you interested in; Multifamily, Retail, Office, Warehouse, Land for development?   To learn more about how market data can help you in your Commercial Real Estate endeavors, contac Chris Beck cbeck@costar.com 503-956-4021  
Nov 18, 2016
Are you the Expert your Commercial Real Estate clients and prospects need to solve their problem? Today’s guest is Nick Raithel, Creator: The 7-Hour Book takes us through how you can increase your value value to your clients and prospects when you are an author with a book.   This is a real way to differentiate yourself from the competition.  A book can lead you to much more.  It can be a springboard to additional opportunities, increased visibility in your community, speaking engagements, keynote speaker in front of your ideal prospects, products, coaching, travel  and more. What should I write about? For some topics that are sought after and you know the answers to download your free: 5 Winning Ideas For Your Book Ok, I’ve got my topic.  So, how do you write a well written book without locking yourself away and ignoring your business and clients?   Engage an Expert. For as little as seven project hours, you can work with The 7-Hour Book, through hour long Skype calls, you can work through the process of pulling the book out of your head.  The end result will be a professionally formatted, written, and designed book you will be proud to present. For more information go to: http://contentcorps.net/  
Nov 11, 2016

What is the difference between a local bank and a national bank?  Who better to ask than a local bank co-president, Jeff Sumpter of Lewis and Clark Bank.   Jeff Sumpter and Trey Maust are founders and co-presidents Lewis and Clark Bank in Oregon.  Jeff was listed as a member of the 40 under 40 by Portland Business Journal in 2009 and mentioned in Simon Sinek’s best seller, “Start with Why”. If you invest in smaller properties with less than four units, you most likely deal with residential lending. Have you borrowed money from a bank for a smaller property recently?   In the name of consumer protection, Dodd-Frank Wall Street Reform and Consumer Protection Act, has made the borrowing process an unrecognizable blur of online electronic signatures compared to pre 2008.   What makes a community bank different? Compare this with a commercial loan from a local bank that feels like having coffee with a friend.  You can spend the time needed to gain mutual understanding, build trust and answer questions the bank may have in person.  If everything makes sense, the loan application is presented to the loan committee and the approval or denial is made! Jeff and Trey started with a plan for how they wanted to treat customers and their employees, recognizing the value of the relationship.  Small local community banks reflect the community they are located in.  They find their niche based on the need of the community they are in.  This gives smaller banks the opportunity to deal with customers one on one.   Community banks know the asset they lend against and typically keep and service their loans. For more go to: Lewisandclarkbank.com  

Nov 4, 2016
So these laws are like the laws of physics, or the law of gravity.  They never change.   The six immutable laws of real estate investing: Always insist on a margin of safety. In other words the goal is not to buy at fair market value but to purchase with a margin of safety.   This time is never different. The four most dangerous words in investing - "this time is different." Whenever someone starts saying this time it’s different, get out of that investment as quickly as you can. Be Patient and Wait for the Fat Pitch. "Patience is integral to any value-based approach... However patience is in rare supply." In commercial real estate there is a time to wait and there is a time to act. When things go bad, the tendency is to dump our real estate quickly, when the prudent thing to do is wait. Be Contrarian. Humans are prone to the herd instinct. When everyone is buying they buy; when everyone is selling they sell. Look to buy when everyone else is selling.   Be Leery of Leverage.  In many instances owners with properties that were over leveraged loss of their properties.  Those homeowners who used their homes as ATM machines learned the hard way too as many lost their homes.   Never Invest In Something You Don't Understand.  You should never invest in a property type or location you don’t fully understand.  For more go to: Marshall Commercial Funding http://www.marshallcf.com/      
Oct 28, 2016
The factors that define the property class designation include age of the property, amenities offered, rents charges, level of service, safety of the neighborhood, uniformity of the property and more. Class A properties The newest property in the area. Features will include the greatest level of amenities in the marketplace Construction finishes will be of the “Best in Class”. Rents will be the highest in the marketplace. Located in desirable neighborhoods. Class B Properties Twenty years old and older.   Well maintained and have little to no deferred maintenance. Located in a safe and desirable neighborhoods. Tenants have stable income Class C Properties Tenants are normally hourly workers.   Located in safe neighborhoods. Turnover tends to be higher Will have deferred maintenance needs.   Everything else Properties do not fit in any of the A, B, C categories and have characteristics including: High crime 4 story walkup Non conforming floor plan or unit configuration Lower rent Lower caliber of tenant   For more go to: John Wilhoit on Amazon.com http://multifamilyinsight.net/  
Oct 21, 2016
Is Water Damage Covered or not? If you have a claim, it is important to know if you have coverage, or not. On Joe Fairless Best Ever Show Podcast #746 I was the guest and we discussed damage caused by water. The standard property policy EXCLUDES Water: Flood Mudslide Water that backs up from a sewer, drain  Unless through one of these the result is a fire, explosion or sprinkler leakage. Backup of Sewer or Drain. There are many companies that will give back coverage for: Backup of Sewer or Drain for limits from $5,000 to $100,000 Flood is its own policy.   If you are in a Flood zone, you have a couple of options: Purchase Flood Insurance Get a letter of Map Amendment Checkout CREPN  #35 with Steve Gill, owner of Flood Risk America             Save 20% https://qc115.infusionsoft.com/app/page/save20flood For more information about Commercial Real Estate Insurance like this, get your  Commercial Real Estate Insurance Buyers Guide  
Oct 14, 2016
Are you good at making sure you get found online? Do you have a brand?  Do you rely on your employer’s site?  Are you creating opportunities for you sales staff?   What are you doing to get found? The worldwide web creates opportunities for the savvy marketer and competition for those who are not. David Klein with RevLocal is an online marketing expert who is passionate about helping businesses stand out online so customers can find them.   Rules for marketing online that will help you get found. Know your audience.  This is fairly obvious, but worth mentioning.  Who are your clients, let’s find more.Brand - When you know you are, by name, logo, tagline, punctuation, etc. don’t mess with it.  Make certain that every time you post, the information is the same.  Ie; if in one post you list your business as “123 CRE” and another time you list it as “123 CRE LLC”, you are diluting your efforts.  Be the brand.Content - Create useful content for your audience.  If you have industrial space for lease, create or find and repost information useful to tenants of industrial space.  Get specific.  The deeper the better.   Pictures & Videos get higher rankingConsistency - At a minimum, you have to post something once a month and more often is better.  Your goal is to make sure machines can find you. If you don’t have the understanding, knowhow or want to do this, get some help.   Contact David Klein at RevLocal for a consultation to see what you can do. dklein@revlocal.com m (503)592-0627
Oct 7, 2016

New IRS Repair Regulations require property owners to account many repairs that were previously an expense must now be capitalized. What does this mean for a property owner?  How can you easily determine what qualifies for an expense versus a capital improvement? I talked with Jonathan McGuire of AKT CPA’s for an in depth look at what changed and how can property owners easily account for the new repair regulations. Download the flowchart to follow along: https://qc115.infusionsoft.com/app/form/repairregulationsflowchart We discuss: History of the IRS Repair Regulations The ruling stems from a 2003 Federal Court case FEDEX vs IRS in which FEDEX argued the engines were not a Unit of Property, UOP.  The repairs were incidental and necessary expense. How much can be expensed for routine maintenance? The current safe harbor limit is $2,500 for routine maintenance What is a Unit of Property? What are Capitalization Standards? The give back: Partial Asset Disposals The new regulations allow for expensing of a system asset that has not been fully depreciated in the year of replacement and recapitalization.   Jonathan’s article in The Tax Advisor magazine:  http://www.thetaxadviser.com/issues/2015/dec/long-term-tax-benefits-of-partial-disposition-election.html . For more go to: https://www.aktadvisors.com/ jmcguire@aktcpa.com

Sep 30, 2016
Michael Blank makes the case for Multifamily Investing over Single Family Investing and provides the steps needed to get your first multifamily deal. SUBSCRIBE   iTunes       Stitcher In 2009 Michael recognized that he could purchase a  single family property at a significant discount and resell for a handsome profit.  He introduced his plan to get into real estate to some acquaintances, and was blown away by how easy it was to get financial commitment.  His first commitment was $25,000 from an acquaintance. This was a mind shift. After successfully handling more that 30 flipps, he recognized that the revenue stream only happens when a deal is completed.  This helped him turn to move multifamily. Why do multifamily investing instead of single family? Michael teaches and coaches investors looking to get into multifamily investing.   When comparing Multifamily versus Single Family, the following are six points for consideration for an investor looking to grow to  25 doors showing which is better for each: Multifamily  Property Management +Control over value +Ability to sell (25 doors) +Ability to scale + Single family Affordability +Finding Deals + The most important thing is to get the FIRST DEAL. For more information go to: http://www.themichaelblank.com/  
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