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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
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/  
Sep 23, 2016

Where do you invest and why?  For Worcester Investments, Kansas City Multifamily Investing is it.   In 2007 Paul, Joel & Jesse Worcester followed their mentor from Oregon to Kansas City for the opportunity they saw.  Kansas City real estate was a bargain compared to their native Oregon.   Prior to moving to Kansas City, the brothers tried their hand in real estate investing through building spec homes in Eugene, OR.  For three straight years, they were able to build and sell a  spec home to help pay for college.  Then in 2006 the market turned, and they were lucky to get out of their last home. Today, they have over 3000 units, 120 employees and are looking at properties and projects in excess of $5M each including ground up construction and a downtown redevelopment project on the new Kansas City Streetcar line. So what is the strategy? Worcester Investments are Focused to be the Best at Multifamily in Kansas City and stay purposefully ignorant to all other real estate opportunities. As they have grown, their team has and focus has evolved.  Today, they look at over 100 multifamily opportunities a year in the Kansas City.  Their team can analyze a deal to determine if it is an opportunity they want to pursue in just 45 minutes.   They look for intrinsic value.  What can they improve on and increase the performance of  the property.    Today, Worcester is a major multifamily investing company in Kansas City.  Instead of duplexes, their appetite is for opportunities with intrinsic value priced at and above $5 million. To learn more, go to: http://www.worcesterinvestments.com/  

Sep 16, 2016
Property Managers and Tenants save money & time using NoAppFee.com.  It takes money and time to rent housing.  Now there is a new application that works between property managers and tenants that will change the rental application and screening fees forever.  Meet NoAppFee.com. SUBSCRIBE   iTunes        Stitcher Until now. Tyrone Poole is owner of NoAppFee.com.  The application is an interface between renters and property managers that eliminates the multiple showings for each party and matches only qualified renters with properties they are eligible for. The program is beautifully simple: Enrolled property managers define the minimum parameters of acceptability for tenants.  Tenants enroll paying a one time $35 application fee.  The tenant information is fed into the NoAppFee.com algorithm and instantly provides to tenants a list of units they qualify for. When the tenant contacts the property manager regarding the unit with their pre screened information the number of times required to show the unit is reduced considerably.   NoAppFee.com checks the property managments site each morning to update the available units. To learn more to to: https://www.noappfee.com
Sep 9, 2016
Commercial Real Estate performance can be greatly improved using a Cost Segregation Study.  A better performing property carries a greater tax burden.  To off set the taxes due, commercial property owners looking for more deductions are turning to cost segregation study's.    To get a better understanding of how cost segregation works, I spoke with Bill Smith with ELB Consulting LLC.   SUBSCRIBE   iTunes        Stitcher Companies have been accelerating the depreciation of components for years.  Hospital Corporation of America (HCA) brought a lawsuit in 1997, and the IRS acquiesced. This set the stage for IRS guidelines formally established in 2004.  Cost Segmentation is not a tax loop-hole, but a recommended practice by the IRS. Bill compares cost segregation specialist to treasure hunters, “in that we find significant cash in your walls, floors, ceiling, etc. in the form of tax deductions. By breaking a building into it component parts, we reclassify certain components from 39 or 27.5-year property to 5, 7 or 15-year property, increasing deductions and therefore improving cash flow.” For a Cost Segregation Study Benefits Summary click: https://qc115.infusionsoft.com/app/form/cost-segregation-study For more information go to:www.elb360.com contact Bill Smith @bill@elbcostseg.com
Sep 2, 2016
What’s your type is a popular tease on the grocery store tabloids, but have you ever thought about grading your commercial real estate investor? Doug Marshall with Marshall Commercial Funding  and I discuss some very distinct commercial real estate client types and the different opportunities each brings whether it is a teaching moment or a learning opportunity. Commercial Real Estate Investor Types: WISE CLIENT This is the one we hope to always have as a client.  He has excellent commercial real estate experience.  She knows the ropes but also respect what you bring to the table. They realize you are an important cog in the wheel and they don’t grumble about the fee you earn. WICKED CLIENT The Wicked Client knowingly withholds adverse information from you about the property or about himself in order to get the best possible outcome for himself.  She has no problem cutting ethical corners if that is what it takes. He hopes that whatever he is hiding will stay hidden just long enough to get the deal done. SIMPLE CLIENT The Simple Client thinks he knows more about commercial real estate than he actually does. He generally has an over inflated ego and as a rule does not trust anyone’s judgment but his own. If left to his own ways, the outcome of the transaction will get done but it will likely be a more painful process and have a less favorable outcome than if he would have taken your experienced counsel. CLIENT WHO DOESN’T KNOW WHAT QUESTIONS TO ASK This client is the most vulnerable and the easiest to take advantage of. He really shouldn’t own commercial real estate.  She doesn’t even know what questions to ask.  For more go to MarshallCF.com/blog
Aug 26, 2016
Accumulating appreciating assets is the goal of all investors.  When your time comes, an Estate Plan, can make the settlement of your affairs a simple matter.  Without a well executed plan, the end can be really messy. SUBSCRIBE:     iTunes                  Stitcher Most people don’t invest time to think about the world without them in it.  It is  a morbid thought that reminds us that there is an end to life. I had the pleasure of speaking with Bill Sefton, CPA.  His practice focuses on working with high networth individuals to for estate planning. Steps to establishing your Estate Plan WHO: Determining who you want to handle your affairs when you are no longer able is the place to start.  This is the first step. WHAT: Once you know who is going to handle your estate, you need to identify the assets in your estate, bank accounts, IRA’s, property, etc.   HOW: How do you want your assets distributed? For more information go to: https://williamleesefton.com/ William Lee Sefton, CPA (925) 735-6529 bill@williamleesefton.com
Aug 19, 2016
Professional property managers rely on property management software to screen tenants, collect rents, generate financial reports for owners, manage the property, schedule repairs and more. SUBSCRIBE:     iTunes                  Stitcher Timmi Ryerson with Smart Property Systems talked with me about property management software systems, users and how a good software system can simplify things for the property manager.     Why use property management software system? The main reason for using property management software system is for organization.  Organization makes your life easier and gives all who interact with you that your organization is professional.  What are your pain points? Smart Property Systems Smart Property Systems can scale from one unit to thousands.  For CREPN Listeners interested in pursuing Smart Property Systems property management software, listen through the interview to learn how to get a 30% off discount. For more go to: Smart Property Systems
Aug 12, 2016
Commercial Real Estate value is simple.  What’s the Net Operating Income.  If you keep up with market rent and expenses, your property’s value will suffer.  Value Add Accounting is an easy way to increase the NOI and the value of your property. Telma Landhorian is a CPA & MBA with experience in Commercial Real Estate.  She makes the case for an outsider’s professional review.   One client gained $20M additional valuation after working with Telma. Value added accounting: The good news, you can fix this. If ownership is willing to take have a trained professional, an outsider, take a look at the books and asses what is. First - Look at the current books.  If the NOI varies greatly from month to month with no explanation as to why, you likely have a problem. The assessment takes a look at each and every line in the operation budget to determine how it compares to the market, and if any improvements can be made. Next - Implement needed changes. In order for change to be adopted by the staff, it has to be demonstrated that ownership supports the change.  Without this, nothing will change. Ongoing - It usually takes about 6 months to make the transition from the old way to the new way.  The procedures need to include regular review and monitoring for real success.  The pain of change is the price of progress.  The benefits will be lasting and help increase the value of the property.   For more go to: https://landhorian.com/ https://www.linkedin.com/in/telmalandhorian  
Aug 5, 2016
Leverage is the catapult that gives real estate investors the ability to buy more than they can afford with their own resources.  One way to increase leverage and potential gains is through Multifamily Syndication.    Syndication can provide momentum unavailable to a single investor.   Joe Fairless is an experienced investor who has grown his portfolio to $54 million through syndication. How to create a Multifamily Syndicate   Build anticipation with investors Learn about what your potential investor goals are.  Are they passive or active?   What do they expect.  Once you determine their goals, ask them if they want to invest.   Get Commitment Get 30% more commitment than what you need, you are ready to find a property.  Why do you need greater commitment than the deal calls for? Life happens. Identify the community and property parameters for your investment including: Market Characteristics Go find the property Use all the resources available to you:   Obviously, this is a simplified explanation of what truly happens.  In addition to what is listed there are several legal documents required in order to set up a syndicate. Joe’s advice to anyone considering getting into syndication: Get the knowledge Get a mentor Follow the Blueprint The truth: “It’is a shark tank!” For more go to joefairless.com.  
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