Archive for August, 2009
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If you have been following the current mortgage rate, then you know it is usually higher than the prime rate.
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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The first thing to consider for 2nd mortgage is the reason behind you going for the second mortgage.
Real Estate Investment Success Series Tip #3 - 3 Reasons Why Owning A Commercial Property May Make You More Money In Real Estate Investment
This article is part of the Real Estate Investment Success Series and continues from
http://www.realestateinvestment101.info/Real_Estate_Financing.html
If you ever have been a landlord for residential property, I am sure that you get complaints from tenants about leaking roofs in the middle of the night. But what keeps most people back from investing in commercial real estate is the fear of the unknown since not many of us are born commercial landlords. However we can learn from Donald Trump who spent his energy developing large office complexes and that’s where he made his money. This article will highlight three reasons why commercial property real estate investment is better than private real estate investment.
Reason #1: Rental Yields may be better for commercial properties
For commercial property like shop space, the rental yield that you can command depends directly on the human traffic in the area. Thus if you invested money in such a property investment, the monthly cash flow would be more than an equivalent costing residential property investment in the same area.
In addition, most business owners when they come to view your property have already identified your street as a good one for their business in terms of human traffic and usually want to start renting from you, thus you have the upper hand in negotiations. Contrast this to most residential tenants who have a huge variety of properties to choose in your vicinity and if they do not like your property or your rental they can just as easily go to another property.
Reason #2: Improvements on the property
Business tenants generally treat properties different from residential tenants. A business owner who is renting property would generally fix small defects in the property so that he can carry on business and would not bother the landlord about such small problems. But additionally, most small business owners would generally carry out small improvements in the property that could boost the property value of your commercial property.
An example of this could be the installation of a PABX System and wiring up the whole office for a local area network. This could save your new tenant a lot of time and could be used to give additional value to the terms of the rental that you are providing.
Another example I heard recently involves office partitions. Law firms and accountants generally have the same set up in their offices and when law firms move, they generally would have to spend money renovating so if you have existing partitions in your commercial property, you might be able to get a whole professional firm over to rent your property. Note in contrast, in most residential property, tenants tend to love to puncture holes in walls without permission, repaint certain rooms and at the end of the lease and as a result most landlords have to do lots of repairs just to return the property into its original condition.
Reason#3: Rental Collection
Typically there are some tenants that are not very prompt with their rental payments and therefore the ability to choose tenants who would pay would save you lots of money and make you even more in the longer term. Imagine having to loose a few months of rental payment and spend money on lawyers to evict the defaulting tenant from your property.
If you have a commercial property, you can choose a tenant that has lots of goodwill established in your premises. This would mean that the tenant has a lot vested in your property and would therefore pay his rent on time to stay out of rental disputes. Contrast this with a residential property where the tenant can run away without paying your monthly rental and has nothing very much to loose. Collecting rental from residential tenants seems to be more difficult as well for some strange reason.
In conclusion, this article has highlighted three reasons why commercial property real estate investment may be better than private real estate investment. That said, making money with real estate is like value investing in stocks, the profit is made in the buying. The time spent looking for a good property will reap its rewards later in the form of good rental yield and capital appreciation over time. Take massive action today and look for the real estate investment property that you think meets your real estate investment needs.
About the Author
Joel Teo takes a keen interest in real estate investment as part of a larger investment portfolio. For more tips on real estate investing check out our real estate investment success series
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Choosing the best mortgage rate for yourself, starts with choosing what type of mortgage rate (fixed or adjustable) is more suited to you.
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Commercial Real Estate Myths Dispelled: Myth #1: Commercial Real Estate Is Not For Ordinary People
People are naturally inclined not to trust what they don?t understand. The same is applicable to commercial real estate investing. It?s a natural phenomena when confronted with something new, different or seemingly over your head.
But when it comes to commercial real estate investing, that belief can cost you a small or large fortune.
For instance, when I first got started in real estate, one of the biggest challenges I had to get past was the idea that commercial real estate was too complex for me. That it was for the ?big boys?.
Even residential real estate agents suffer from this same mindset. They too believe that in order to break into commercial real estate they have to be promoted.
Nothing could be further from the truth.
For those with a determined mind to get involved in commercial real estate, the challenges are easily overcomeable.
But like all, myths the idea that commercial real estate investing is too complicated for mere mortals is grounded in a bit of fact. Commercial real estate does seem complex.
So let?s dispel this myth right now.
Would you file your own lawsuit?
How about fly your own jet?
What about do your surgery?
Or how about even filing your own tax return.
Would you do surgery on yourself?
I think you?ll agree these things are complex if you tried to do them on your own. But ordinary people get them done everyday.
So what?s the truth?
The truth is that the most successful investors, whether novice or experienced, use professionals and experts when some ?heavy lifting? is required. The details of tax, law and finance are better off left to them.
If there?s one area where you should spend you time and become an expert in is the market where you have your real estate. This is one area where you should spend your time.
Knowing your market, knowing the mindset and behavior patterns of your prospects will pay handsome rewards for your long term.
Leave the complex topics to the people who know how to deal with the complicated stuff. That?s the best strategy for success for the up and coming commercial real estate investor.
So as you can see, there?s no reason to be intimidated by commercial real estate. The benefits and advantages of investing in commercial real estate far outweigh the disadvantages or unforeseen complications you may occasionally come across. And even then, there are experts who can support you in your efforts. They are rather inexpensive when you look at it in this light.
The only time they get expensive is when you try to do it on your own and then unintentionally make a mess.
Put these professionals on retainer and use them. That?s what they are there for.
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.
Baltimore Maryland Real Estate
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There are many mortgage loan options available today.
A Roadmap for Commercial Real Estate Syndication, Part 1
HOW TO DO YOUR OWN SYNDICATIONS, Part 1
One of the most important requirements for purchasing commercial property is having enough down payment money, called “equity,” to complete the transaction. A very popular method of raising these funds when you don’t have it yourself is by forming a group of people who pool enough capital to let you close the transaction. They get a portion of the income and appreciation for their funds, you get the rest for finding, analyzing, purchasing, and managing the property.
When you decide to take the step to form groups of investors through the process called “syndication,” you run into a situation where the law may require you take on a specific duty to fully inform your co-investors of all aspects of the property and the investment. Most people getting involved in group investments are usually under-informed or inexperienced with regard to the following group-investment concepts:
* The legal aspects of the co-ownership of real estate.
* Factors that affect the value of commercial real estate.
* The process and responsibilities involved in commercial property management.
* The fair compensation to the group manager or “syndicator,” who later becomes the property manager.
When you take on the role of syndicator, you actually create an “agency duty” to your co-investors. You have a higher responsibility to disclose all of the aspects that can affect a particular commercial property investment, both good and bad. So when you form a group for investment, it’s very helpful to have checklist for all of the things you need to do so that you meet your responsibilities to your partners. Part of that check list includes:
1. Researching the available commercial rental property in a particular neighborhood and choosing one to purchase.
2. Preparing a preliminary analysis of the investment. This would include its operating history, status of title, proximity to any environmental or natural hazards, the neighborhood, the local and national economies, and finally, the physical condition of the property.
3. Next, you have to get control of the property in your name with the ability to assign it to a successor entity through a purchase contract or option.
4. Once you gain control, escrow needs to be opened with your name as the purchaser, not that of the entity! You’ll assign your purchase rights to the entity before you close.
5. Then you complete an analysis of the income and expenses, and confirm the Seller’s disclosures regarding the condition of the property, including its improvements, location, title, and operations.
6. You’ll also apply for new debt financing (or assume the existing), depending upon what you indicated in the purchase contract. This obviously won’t apply if you’re buying your commercial building all cash!
7. At this point in the process, you will want to review your plans for forming and operating your ownership entity (most likely a Limited Liability Company) with experienced accounting and legal advisors. Getting this part correct at the outset will save you major of headaches in the future.
8. Now you get really busy. You’ll prepare the investment circular, subscription agreement, Articles of Organization and Operating Agreement for the LLC, pertinent exhibits, and addenda. The syndicator (you) is named as the Manager of the LLC in these documents.
9. You now can use the investment circular to solicit investors to fund your purchase, through the LLC.
10. Once you’ve chosen your investors (there will be a whole article devoted to this subject), you need to get their signatures on the Subscription Agreement and the Operating Agreement of the LLC. You’ll also want to deliver their funds to escrow for the close.
That takes you up to completing the purchase. As you can see, there’s quite a bit for a sydicator to do just to get the property purchased. We still have to detail the on-going operation of the property. I’ll complete your roadmap in the next article and then we can move on to the individual steps in greater detail.
About the Author
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, www.InvestmentPropertyInsider.com. Visit the blog and get a complimentary report on commercial financing techniques.’
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You will want to plan on keeping this loan, for about two to five years.
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Commercial Real Estate-Traditional Lending vs. Private Funding
Traditional bank and institutional lending has become outdated in some respects and does not always meet the needs of potential commercial customers. Private investor funding has filled many of the gaps while making investing easier and profitable for all parties involved. Although private funding is not actually lending by definition it is still a highly viable alternative.
The typical traditional bank loans take 3 to 6 months to close. The obvious constraint is if your deal needs to close before 3 months or if the seller is anxious to close in a fast time frame. Private funding typically takes 30-90 days to close and the right mix of information, opportunity and ?right-time-right-place? has seen private deals close in a manner of days!
Most commercial lenders have very specific guidelines on documentation of the source of income or proof of asset ownership. Obtaining these documents from the current owner(s) is a big challenge if not impossible. Tax returns and additional personal information are sought but few are willing to open up their finances to just anyone. Private investors tend not to look at past performance of the property but seek a good analysis of what the future potential is. Be prepared with a sound business plan!
Many borrowers can?t qualify for traditional commercial loans if they have existing high business expenses. Again, existing financials need to be examined by the bank to determine if prior performance indicates worthiness for the loan. This time it?s your financials under the microscope. This type of information is useful in proving yourself to private investors but not required.
Special business properties such as mobile home parks, restaurant /bars, cash businesses, new development construction projects, nursing homes, assisted living centers, etc. may be outside of the traditional lenders interest. The reasons differ but are often related to the perceived risk or lack of knowledge about the type of investment. Again, private investors are more interested in your plan and its soundness rather than the category of property.
Relative short balloon payments on special purpose business loans are fairly common with traditional loans, some due in as little a 3 years. If your business plan does not specifically show how returns on the profitability of the property will support the balloon payment the loan is often denied. Private funding may also have balloon payments but you can always seek a different structure that fits your needs and plan rather than trying to plug your plan into an institutions way of doing things.
Assumability of the loan is not often offered with commercial loans. If your plan for the property includes later selling it for a profit you need to consider how potential buyers will finance the purchase from you. If you cannot transfer the loan to a qualified buyer you will be at the mercy of them obtaining a loan from an institution and meeting all of their requirements. This is time consuming and costly for the borrower creating a delay in you moving on. Conversely, private funding can often be structured so that you may transfer your existing agreement to another without any of the constraints.
Banks and lending institutions often monitor their investments by requiring ongoing financial reporting requirements. Although they are not a partner in your venture they behave like they are. Until you break free from the loan this monitoring relationship will continue. Private funding investors may also require periodic financial reports but as long as the agreed terms of the funding are being met they may have little interest.
Some institutional lenders still require the borrower to live in the same state as the property. In today?s realm the reasons for this requirement are lost. Legal issues may be a bit easier to deal with because of the requirement but not enough to limit the borrowers to properties in their own state.
There are many more differences between traditional loans and private funding. The differences usually favor the non-traditional private funding world. You may pay slight more for private funding overall but if you can?t qualify for a traditional loan, or the timing will not work you should not even consider cost when comparing the two options.
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Sam Mancuso is the President of RuzzMan LLC. RuzzMan LLC operates http://www.BaseFunding.com where you can find out much more about private funding possibilities and submit your commercial real estate project for consideration through private funding. |
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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.
About the Author
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
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This is because the bank wants to make money from the money loaned to you.
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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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There was big news yesterday on the Maui new development front when various media outlets reported that Wells …
Official August 2009 Maui Real Estate Statistics
Late last week, the Realtors Association of Maui (RAM) posted their official real estate statistics for the month …
Commercial Real Estate Scouts - Strategies for Success
If you?ve evaluated any of the ?legitimate work at home jobs? ? you can probably appreciate there are plenty of decisions to be made in choosing the right one.
One of the main questions is how you to find your source of ?leads? or opportunities with regards to a specific business. For Commercial Real Estate Property Scouts, it?s is no different any of the other of the legitimate work at home jobs.
Fortunately. leads are quite a bit different for professional Commercial Real Estate Property Scouts, because you don?t have to sell anybody anything. That?s 100% different thean every other business opportunity, isn?t it? You are looking for real estate opportunities, the kind investors would be hungry to put in their portfolio.
And here?s the important insight:
Investors are always looking for great commercial real estate deals. Property Scouts are trained know where to find great deals to present to the investors, who are always are hot for good deals.
Fortunately this problem too has already been solved as well. Which makes Commercial Real Estate Property scouting one of the best legitimate work at home jobs this year as well as the easiest.
Why?
Because a person who is a professional Property Scout has two main alternatives to generating viable deals: Their local area in which they live and the Internet. A savvy property scout will take advantage of both strategies.
In their regional area, an ambitious property scout will always be scouting for promising properties for sale. This strategy doesn?t take any money. You just have to know what the investors want to acquire and be willing to take action. Because you can definitely make a lot of money when you find a property an investor is willing to acquire.
Making money depends on finding or generating deals the investors are looking for. It?s good to know there are always lots of promising properties, and they are located in scores of websites on the Internet.
In a little over an hour or so each day, ambitious property scouts can find more leads than they know what to do with.
Having the exact websites search, and having the precise profile the investors want to acquire? the search is much like hunting for treasure. As you may know, being a treasure hunter is loads of fun. Here?s some of the aspects they are trained in:
1. Knowing the specific types of commercial real estate properties the investors want to acquire
2. Knowing the pricing of commercial real estate properties the investor group wants to purchase
3. Using a very special set of keywords that cause their search results to be much more fruitful, so they are more efficient
4. Having specific checklists and other necessary materials to access the winners and avoid the ?loser? properties
5. Having pre-determined formulas to apply to potential commercial properties, to see if they?re really promising
6. Specializing in one dedicated type of property, such as raw land, or shopping centers, or multi-family residences.
As you can see, while it?s one the legitimate work at home jobs, it is also a way to generate revenue. And not only is it a small business, it is a turnkey system.
So property scouting is one of the ?legitimate work at home jobs?. You don?t have to waste your time doing things that make no difference. Things that won?t make you any money or give you the lifestyle you want. Property Scouting is it for me.
It is definitely qualifies as one of the ?legitimate work at home jobs.?
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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://www.PropertyScoutCash.com Learn how you can earn a 6-figure income by becoming a working partner on multi-million dollar commercial real estate deals–with no risk or no capital required on your part. |
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One thing that they should have on their minds is their mortgage.
How a Commercial Real Estate Broker Can Help You
Commercial real estate is a booming business; however, whether you are buying or selling commercial real estate, chances are that you are going to need a bit of help. A good real estate broker can be invaluable to you, and they can provide you with a great deal of help that no one else could ever give to you. If you want to have a successful career in the commercial real estate business, then more than likely you will need to work with a commercial real estate broker from time to time. The following are some of the great ways that a commercial real estate broker can be of help to you.
Local Land Values
Having a commercial real estate broker working with you can be very helpful when it comes to local land values. As an investor, you may not always be investing in commercial real estate that is in your area, and it can be hard to find out what the land values are in the area that you are considering investing in. When you work with a commercial real estate agent, they usually have a good grasp on local land values and can help you make good decisions based upon this information. This saves you having to do a great deal of research on your own to find out the same information.
Access to City Officials
If you have been working in the commercial real estate field long, you know that there are many times in this line of work when you have to deal with various city officials. At times this can be difficult, since you may not be familiar with them and you may have a hard time finding time to speak with them. When you work with a commercial real estate broker, many times you will find that they already have direct access to the city officials, which can expedite your deals much of the time.
Negotiation and Constructing Offers
Another great reason to have a commercial real estate broker is that they can do a great deal of the negotiating for you on a deal. It is usually better to have a broker as a go-between instead of dealing directly with the other person in a deal. A broker can usually more effectively negotiate the terms of a deal. They can also help you to construct offers as well so that you will be able to present a good offer on a piece of commercial property.
Exit Strategies
More than likely there will be some point in time when you will find it imperative that you get out of a commercial real estate deal. This can be hard to do on your own, but when you have a commercial real estate broker to help you, then can help you to come up with a solid exit strategy if you need it. When you get out of a deal, you need to have a great strategy that is totally legal, or you may end up losing a great deal of money. Having the commercial real estate broker there to help you can ensure that you exit the deal in a legal way that will not hurt you as well.
Referrals to Other Professionals
Commercial real estate brokers can also be of help to you by referring you to other professionals that can be helpful to you as well. This is especially great if you are new to the commercial real estate industry, you have just moved into a new area, or you are investing outside of the area when you live. It can be difficult to find good professionals to work with, such as lawyers, contractors, inspectors, and engineers. When you are dealing with a commercial real estate agent that you trust, they can refer you to other people that you can trust as well. This saves you the hassle of trying to find some of these professionals on your own without anyone?s recommendations to go on, which can be disastrous in some cases.
Lenders
Another area that a commercial real estate broker can help you with is the financing for your commercial real estate purchase. These broker work with a variety of different lenders from day to day, and if you are looking for financing for your venture, more than likely they can steer you in the right direction. They may even know of some private lenders that may be of some help to you as well.
First Grab at Targeted Properties
Having a commercial real estate broker can be very beneficial to you because they can also allow you to have first grab at some targeted properties that they know of. No doubt there are times when you find a great property, only to find out that it is already under contract and you spoke too late. If the broker knows what you are looking for, they may be able to pocket the listing so you can have the first chance at it.
When you do find a great commercial real estate broker, it is important that you hold onto them. A great broker can be invaluable and can help you out in a variety of ways that will help make you successful in the commercial real estate market. Working together with the same great broker over and over can be mutually beneficial to both of you. They will get the rewards of your business, and you will be able to enjoy the many benefits of working with an excellent commercial real estate broker that you can trust. When you find a good broker, they are definitely worth the money that you will pay out to use them.
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Tony Seruga, Yolanda Seruga and Yolanda Bishop of Maverick Real Estate Investments, Inc. work with builders, developers and other players in the commercial real estate industry to acquire and develop properties. They use progressive investment strategies that have proved extremely profitable. In addition to their own deals, they teach both seasoned and inexperienced investors how to be big players in the game. Visit the website for more info. |
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Commercial Real Estate Newsletters
Commercial real estate newsletters are an excellent way to keep in touch with clients or people who share a similar interest. In today’s world of the Internet, commercial real estate business houses are converting their newsletters into electronic format, more popularly known as e-newsletters.
A commercial real estate newsletter can supply a huge mass of information to your readers, which is not available through the mainstream press. Before producing a commercial real estate newsletter, you have to decide on the format of the newsletter, how to write articles, matters related to printing and distribution and the like. There are many desktop publishing packages available that can assist you in developing or creating commercial real estate newsletters.
Firstly, you have to consider and answer the question, what is the purpose of the newsletter? A commercial real state newsletter cannot be made appealing to the readers without well-written content. Besides, the layout and appearance also contribute to the popularity of the newsletter.
Content writing, proof reading and editing are important steps because if the content is unreadable or grammatically incorrect, then it will be a major turn-off for your readers.
Commercial real estate newsletters provide information on topics including buying and selling of commercial space, commercial real estate mortgages, and credit. These newsletters could appeal to lenders, realtors, companies etc. Such newsletters generally contain quick-reading articles, which presents relevant information in a short, concise format that is appealing to customers with busy schedules.
Commercial real estate newsletters can also deal with topics related to issues that can affect your business, monthly listing of legislative advocacy on pertinent commercial issues, commercial real estate and investment headlines from newspapers or magazines, tips to build your commercial real estate business, etc. Current economic trends, local business news, recent commercial sales, vacancy statistics, new investment property listing highlights, or general business tips and information are all topics that could be included in commercial real estate newsletters.
Newsletters can be sent weekly, monthly or on a quarterly basis, but ensure that it is done regularly and consistently.
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Commercial Mortgages provides detailed information on Commercial Mortgages, Commercial Second Mortgages, Commercial Mortgage Lenders, Commercial Mortgage Brokers and more. Commercial Mortgages is affiliated with Commercial Mortgage Brokers Online. |
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CT Commercial Real Estate
Eastern Connecticut leads the State in job growth and likely will continue for the next tens years. Economic growth in Eastern Connecticut is booming with major projects underway or proposed. Half way between Boston and New York and 30 minutes to Providence. Home to Foxwoods Resort and Mohegan Sun casinos, Eastern Connecticut is very similar to central Florida when Disney World opened.
Current Projects:
Utopia Studios: proposed $1.6 Billion movie studio, theme park and entertainment center. Expected to create 22,000 new jobs when the project begins in 2007. Once completed the Studio is expected to attract an additional 8 to 10 million visitors a year to the area.
North Stonington Studios: a $1 billion movie studio proposed by Frank Capra Jr., president of EUE/Screen Gems Studios in Wilmington, N.C., The project includes movie studios, an academy of arts and sciences, a high-end retail village with 20 to 30 shops and restaurants and a 200-room hotel on 488 acres near Interstate 95 in North Stonington.
Center of Excellence, Plainfield: proposed by Global Enterprise and Associates, the center, which will be housed in the old Plainfield High School on Route 12, will be home to three separate, but collaborative, businesses geared toward education, health care and entertainment.
Norwich Harbor Redevelopment: a $500 million 37-story twin condominium towers at the marina, an upscale theme park on Hollyhock Island, a retail plaza above Chelsea Harbor Drive and 100 high-end housing units where the Norwich Police Department now sits.
Wauregan Hotel Redevelopment: Downtown Norwich, preservation and adaptive re-use of historic 1855 Wauregan Hotel into 70 units of moderate income housing, 4,000 s.f. of /retail space, ballroom restoration, and 100-space parking garage. Completed by Becker & Becker of Fairfield, Connecticut.
Mohegan Sun: celebrating their ten years anniversary, Mohegan Sun continues to evolve. The Tribe has hired an architectural firm which is in the midst of developing a master plan for the casino resort. The Tribe also recently purchased a golf club and country club in Franklin.
Foxwoods Resort: $1 billion expansion will add 2 million square feet to the complex. The expansion, expected to be completed by 2008, will include a 825-room hotel, a new casino, a 5,000-seat concert theater, six nightclubs and restaurants, and a 21,000-square-foot luxury spa.
Storrs Center: a mixed-use town center and main street corridor at the crossroads of the town of Mansfield, and the University of Connecticut. Storrs Center Alliance, LLC, an affiliate of LeylandAlliance LLC, Tuxedo, New York, is the master developer. PROJECTED MIX includes
Market Rate Rental: 200-300 units, For Sale Residential: 400-500 units, Retail/Restaurant: 150,000-200,000 s.f., Commercial (office): 40,000-75,000 s.f., Civic and Community: 5,000-25,000 s.f.
Windham: retail expansion including Lowes, nearby Walmart, Home Depot, Sears and busy growing retail area. The downtown revitalization and growing arts district including the now open Arts School, Artspace, and Bridge of Flowers. Redevelopment of Nathan Hale and Hooker Hotel.
Killingly Commons: developer Ceruzzi Holdings, project for 470,000 sqft of retail space will serve the busy Route 395 corridor in Northeastern corner of the State. Leases have already been signed by Stop & Shop, Target, Lowes, Staples, Applebees, and McDonalds.
The State currently has generous tax incentives for developers and businesses in designated communities.
Enterprise Zone Program benefits can include: a 5-year, 80% abatement of local property taxes on all qualifying real and personal property that are new to the Grand List of the City/Town as a direct result of a business relocation, expansion or renovation project; and a 10-year, 25% or 50% credit on that portion of the Connecticut Corporate Business Tax that is directly attributable to this business relocation, expansion or renovation project as determined by the Connecticut Department of Revenue Services and as provided under section 12-217(e) of the Connecticut General Statutes.
Windham has been designated an Entertainment District, giving certain entertainment related types of businesses, as defined by statute, eligibility for full Enterprise Zone level benefits, if they complete an eligible project anywhere within the municipality. Within the Entertainment District any type of real property improvement is eligible for an enhanced property tax benefit.
Griswold , Killingly, Lisbon, Plainfield, Putnam, Sprague, Sterling and Thompson are towns of the Eastern Enterprise Corridor. Benefits for eligible projects in an Enterprise Corridor Zone are identical to those in an Enterprise Zone.
Investors continue to be active in the region, looking for
investment properties of all types. Especially in demand are net-leased properties with credit tenants, and residential income properties. The demand for warehouse and flex space continues to be strong with very little new supply coming into the market. Eastern Connecticut is expected to experience sustained growth for many years with a lot of activity in the commercial, industrial and retail real estate areas.
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Eastern CT Commercial Real Estate Boom Market |
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If you want to consolidate your debt, HELOC or home equity line of credit may also be beneficial.
Indexes Commercial Real Estate Investors Should Know
Consumer Price Index (CPI): Most of commercial real estate leases have annual
rental increase that is based on the CPI. As an investor you should know what it
is. The CPI is a measure of the average change over time the prices paid by
urban consumers for goods and services. In a sense it is the measure of
inflation as experienced by urban consumers. So as an investor/landlord, you
want the rent increased to catch up with inflation. The US Department of Labor,
Bureau of Labor Statistics collects data from 87 urban areas in the US which
cover about 87% of the population. The data is published each month and
available from the website http://stats.bls.gov. Although there is only one name
for the CPI, there are various numbers: US city average, Northeast urban,
Midwest urban, South urban, West urban, as well as 14 major local areas. So you
need to know which number is defined in the lease so you can correctly calculate
the rent increase. For example, the CPI for US city average was 190.9 in Oct
2004 and is 199.2 in October 2005. This reflects a 4.3% increase for one year.
So if the rent from October 2004 to September 2005 was $1000/month and the lease
says the rent is increased based on the CPI for US City average then the new
rent from October 2005 to September 2006 will be $1043 a month or 4.3% higher.
Cost of Living Index (COLI): COLI is a number that indicates the relative cost
of living in various cities in the US with 100 being the average. You could
obtain the indexes for various cities from http://www.infoplease.com/ipa/A0883960.html.
The COLI for San Francisco is 177 while it?s only 97.2 for Atlanta. This means
it costs 82% more to live in San Francisco than Atlanta.
As an investor, you often review median income in the demographic data for the
area where the property is located. You prefer to invest in a more affluent
area. The median income alone does not give you a whole picture. You will have a
better perspective if you adjust the income based on the Cost of Living for the
area and then compare with the median for the area you know. For example if the
median income is $80K a year in Alpharetta in Atlanta metro area, it would be
equivalent to $145,600 in San Francisco. With this adjusted number you know that
Alpharetta is a very affluent area.
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David V. Tran is the CEO at eFunding, Inc., a commercial real estate brokerage, commercial loan broker, property management, self-directed IRA investment and syndication company in San Jose, CA. His website is http://www.efundingcom.com. He may be contacted at (408) 288-5500. eFunding does business in all 50 states. eFunding, Inc. is Pensco Trust’s Preferred Professional. You are welcome to share this report, unedited and in its entirety, with anyone you like. You may not remove this text. ? 2007 eFunding, Inc. |
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A good reputation cannot be earned overnight, so an established mortgage lender is what you should be looking for.
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Commercial Real Estate: Outlook at the Power Breakfast
A GOOD OUTLOOK FOR COMMERCIAL REAL ESTATE IN 2007
I had the opportunity to sit in at the International Council of Shopping Centers (ICSC) annual “Power Breakfast” that featured some high powered institutional investors as panelists. They included Erwin Aullis, the Managing Director of Transwestern Investment Company, Stanley L. Iezman, the President of American Realty Advisors, Inc., and Glen Sonnenberg, the President of Legg Mason Real Estate Services. The panel was moderated by Mark Schurgin, the president of the Fesitval Companies.
These are some high-powered commercial real estate fund managers who don’t even get out of bed for a deal less than $50 Million! They were there to give us some of their thoughts on how the economy will impact commercial real estate investment, where interest rates might be headed in the coming year, and how buying and selling parameters have changed for shopping center owners.
Some of the thoughts that came from these guys were fairly insightful. Here’s what I got from the breakfast that I think you’ll find interesting:
1. Commercial real estate lenders are awash in money thanks to Collateralized Debt Obligations. These are derivative debt instruments that allow lenders to dramatically increase their ability to raise money at low overall costs.
2. The ageing of the population and the retirement of the Baby Boomers means that there is a large chunk of retirement money looking for alternate income opportunities … think “income property.”
3. Large funds are taking on more real estate, making it a legitimate “investment class” like stocks and bonds.
4. The REIT Index was up 35% last year, trouncing the S&P 500.
Large urban areas can expect low cap rates in the months ahead, meaning that there are opportunities in secondary areas, but you still need to beware in “tertiary” markets, like Detroit and St. Louis.
5. Oversupply of commercial properties is not yet in evidence.
1031/Tenants-In-Common buyers are drying up, slowing price appreciation.
6. “A” quality commercial properties are becoming “commoditized,” meaning that there are real opportunities in “B” and “C” product.
7. The big players are getting out of condominium product at significant discounts to original asking price (which means you might get a nice home for cheap). This was in evidence in San Diego and South Florida. Residential projects are taking a back seat to commercial in the minds of the big investors.
There’s some good intelligence in these observations for anyone serious about investing in commercial property this year.
The final few minutes of the session were devoted to a group consensus on where interest rates and cap rates would be a year from now. While not a real prediction, the sense of the room was that the Prime Rate would be .75% to 1% lower, commercial mortgage rates for “A” product would be about .25% to .5% higher than today, and cap rates for class “A” properties would be essentially unchanged.
My conclusions are that there will be some opportunities to make money in smaller commercial properties in outlying areas and smaller urban markets. New construction and other “value added” projects should also do well. One caveat is do not make the mistake that rents will continue to trend upward, though. Stay conservative in your projections and you should be able to ride out any recession that might follow in the wake of possible Congressional tax hikes.
About the Author
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, www.InvestmentPropertyInsider.com. Visit the blog and get a complimentary report on commercial financing techniques.’
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Thus, taking out money by means of home equity line of credit can be your best bet.
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Connecticut Commercial Real Estate
In the world of business, Connecticut is well known. An interesting variety of businesses abound in this area. From home businesses to financial district companies to tourism related ventures, it seems that there is a little bit of every kind of business in this state. That is why Connecticut commercial real estate is flourishing.
What is Connecticut commercial real estate?
Connecticut commercial real estate are pieces of land intended for business or industrial purposes. The piece of land could have a building on it or it could be a farm, an apartment, or even an office.
This does not necessarily mean that these commercial real estate properties in Connecticut are all located in the busy sections and in the financial districts of the area. The fact is that one could actually find Connecticut commercial real estate in the suburban areas as well as in the bigger cities.
Are there any types of Connecticut commercial real estate?
There is a wide range of Connecticut commercial real estate. Land in this location is used for various commercial and business purposes. These includes bars, clubs, offices, schools, showrooms, company offices, beauty salons, malls, department stores, restaurants, gas stations, ranches, farms, hospitals, clinics, gyms, and factories among many others.
Where can one find Connecticut commercial estate properties?
If you have a trusted real estate agent who is knowledgeable in Connecticut commercial real estate, you can seek his or her help. Or you can also ask Connecticut real estate companies regarding this.
However, you can also try using your favorite search engine to look for these on the Internet. There will be many listings, but you can sift through the information to find the ones that would suit your preferences and needs.
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Connecticut Real Estate provides detailed information on Connecticut Real Estate, Connecticut Real Estate Agents, Connecticut Commercial Real Estate, Connecticut Real Estate Courses and more. Connecticut Real Estate is affiliated with Raleigh North Carolina Real Estate. |
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For many homeowners, the change in monthly mortgage payments is not something they want to risk, even for a currently lower interest rate.
Commercial Real Estate Desirability
For those who are looking for an excellent way to generate outside income, the commercial real estate industry is a great way to go. Many people have begun to invest in commercial real estate, and since this type of real estate is continually being purchased and sold, it has become an excellent way to invest money for a guaranteed return. Before one becomes involved in the commercial real estate market, it is highly important that they understand the commercial real estate industry and its many surrounding components.
A Basic Definition of Commercial Real Estate
First and foremost, it is imperative that one understands a basic definition of commercial real estate. Essentially, commercial real estate includes various real estate properties that have the potential to be able to generate outside revenue or even income for the owner. Whether the property has immediate potential for generating income or revenue immediately, or perhaps in the future, it can still be labeled as commercial real estate.
A Desirable Investment
Commercial real estate is an excellent choice for investors for a variety of different reasons. One of the main reasons that investors find commercial real estate to be such a pleasing investment is that is brings about both long term and short term financial benefits. In the short term, commercial real estate can help you bring in a better cash flow from the use of the property, and at the same time, in the long run the property will only appreciate in value, which will result in long term benefits should you choose to sell. Most investors also find that there is a lot less risk involved with commercial real estate than there is when dealing with other types of real estate. If you purchase apartment buildings or a strip mall, the risk of your investment will spread out among those who are renting from you, and even if you lose one of your renters, you still will be making money and seeing a return from your investment.
Commercial Real Estate Properties
Another positive benefit of commercial real estate is that the scope of properties that you can invest in is quite large. Commercial real estate includes various different properties that make excellent investments. As long as the building consists of more than four units, it can be considered a commercial real estate property. Commercial real estate also includes other properties such as strip malls, apartment buildings, RV parks, industrial parks, mobile home parks, and commercial centers.
Jobs within the Commercial Real Estate Industry
There are a variety of different jobs that are included within the commercial real estate industry, and all of them benefit from this excellent market. The investors have a very important job within the industry, since it is their money that is being used to make the property develop and become prosperous. Builders too have an important job, and many times they work within the commercial real estate industry to build new structures on commercial property such as apartment buildings or shopping malls. The lenders have a very important job, and they work to make sure that investors get the loans and mortgages they may need to be able to purchase commercial real estate properties. Also within the industry are the brokers who represent the owners and deal with the sales and property transfer issues. Last of all, but certainly not least, are the users who actually put the money in the investor’s pocket.
Financing Commercial Real Estate
Those who are planning on being involved in commercial real estate need to consider how they can finance any commercial real estate purchases. While few people can actually just purchase the property with money they already have, most people are going to be turning to other methods of financing the property. More than likely you are going to need to go to a lender to be able to finance any commercial real estate that you want to purchase, but there are a few things that you can do to make the process smother.
First of all, you will want to make sure that you have a business plan. You need to be able to show the lender why you want the property and how you plan on making it a successful investment. It is also important that you have at least a portion of the money needed for the property saved up so you can show that this is a serious venture and you are ready to make a personal investment in its success. Also helpful is a current appraisal of the property you are considering. This will help show the value of the property to the prospective lender. Having an attorney to help you and to check out legal issues will also be important, and in the end you should always compare several lending offers before making a final decision.
Getting Started
For those who are interested in commercial real estate and the financial benefits that can be enjoyed, there are many ways to get a start in the business. One of the keys to getting started is to glean all the information about the business that you can, whether from reading books, searching the internet, or speaking with friends and business colleagues that may have experience in commercial real estate investing. Checking into the area you live in and getting a look at what kind of commercial real estate is available and what the prices are running can help you begin to get a closer look at the costs and the availability of commercial real estate in your area. Attending zoning and city planning meetings may also give you insights and ideas for getting started as well. Lastly, one of the best things you can do is to start building a network of friends and business acquaintances that already have their foot in the door of the commercial market. Learning from their successes and mistakes can help you on your way to becoming a successful commercial real estate investor.
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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Make Easy Money Online: Become a Commercial Real Estate Property Scout
There are lots of ways to make easy money online. I am sure you have seen many of them in your email inbox.
One opportunity you may not be aware of is becoming a Commercial Real Estate Property Scout.
What?s a Commercial Real Estate Property Scout?
It?s a person who finds property for investors which meet a specific acquisition criteria.
Here?s the deal: This opportunity has nothing to do with sales, data entry, or any of those other possible questionable online business opportunities you may be aware of.
A Property Scout uses the Internet to search real estate listing databases for properties which meet the investors criteria. There are literally hundreds of these databases, many of which are free to use.
Advantages of the Opportunity
There are many things which make this opportunity attractive.
First, the price to get involved is very modest. It?s under $100 dollars.
Second, the money is really good. Frankly, there?s no comparison between what you can earn doing this and all the rest of the opportunities combined. It truly is one of the ways to make easy money online.
You can really earn hundreds of thousands of dollars a year.
Third, the support the company offers is incredible. While they won?t handhold or baby sit you, they will provide the weekly training, personal direction and weekly Q&A so that you can be successful?that?s more than any of the other opportunities do.
The fourth thing, is that you really can do this from home. There?s no travel involved. Plus it really only requires about twenty hours a week of work on a consistent basis.
The best part for me is that the company, Maverick Real Estate Investments, isn?t one of those schlocky companies promoting the next business opportunity. It?s real. And they sincerely want to see you successful because the big money for everybody involved is made when you find a promising property.
They?re committed to training you to be successful at it.
Maverick Real Estate Investments is in the commercial real estate business. That?s their purpose. And they?ve set up this business opportunity, so that they can attract people to help them find properties which fit their profile for acquisition.
It makes perfect sense if you think about it.
Disadvantages of the Opportunity
Are there bad points? Yes, a small one. But you really can?t blame the company for it, it?s just the nature of the commercial real estate industry.
If you need to make money right away, this is not the opportunity for you. Patience is key. While you can realistically make six figures and up a year, the fact is it takes time to find a property the investors want to acquire. It has to fit their profile (which they?ll thoroughly train you in).
And even when you find a property that meets their profile, they need the time to do whatever it takes to turn the property around which could take as long as 18 months to do.
But still, you have to admit it?s really good money. And let?s face it, you were to go into business for yourself, it would take that long AT LEAST to turn a modest profit?and nowhere near the money you?d earn as a Property Scout.
Now, they do offer an interesting way for you to get paid faster. But I wouldn?t recommend it, unless you really needed the money. You can get paid $15,000 when they buy the property and $15,000 again when they sell the property. It?s good money, but they prefer you to be partner with them and pay you when they sell the property and there are profits to be dispersed. It eases their cashflow.
Summary
In nutshell, this opportunity is legit. It?s lucrative. People ARE making money?and a lot. And it?s a profession which you can easily do from home using the Internet. Although it?s not perfect, it?s one of the few easy ways to make money online which is realistic and easily doable.
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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://www.PropertyScoutCash.com Learn how you can earn a 6-figure income by becoming a working partner on multi-million dollar commercial real estate deals–with no risk or no capital required on your part. |
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For the homeowner in search of a home equity line of credit the availability of interest-only home equity credit lines has drawn the interest of many who seek to benefit from the value of their homes.
Correcting the Commercial Real Estate Industry
The real estate industry has experienced both periods of intense growth and periods of recession in recent years. Changes in tax laws, relocation of business due to technological changes and demographic shifts, and new practices by real estate lenders have all contributed to?and been affected by?these boom and bust periods.
In 1992, through changes to the National Banking Act and regulations governing savings and loan assets, the government sought to rekindle real estate investment. At about this time, opportunities for expansion in commercial real estate development appeared in the southern and southwestern areas of the United States. Office buildings with long-term leases to high-growth energy companies offered good tax shelters. Apartment buildings could be financed by housing-bond issues and offered other tax benefits. Obtaining a commercial loan during these times proved beneficial.
Through service corporations owned by the thrift institutions, savings and loans actively owned, developed, and managed real estate. Savings and loans also used joint ventures with developers to invest further in real estate.
Syndicates enjoyed a spectacular growth through the development of tax- shelter partnerships. Even properties that were poorly planned, developed, and managed could be profitable for investors when the losses were sold.
Troubles in the energy industry foretold the end of the real estate boom, however. After 1993, the industry began to slide into a recession. Office buildings and apartment complexes begun during the expansion found fewer and fewer tenants as the industry contracted. Rumors of tax reform slowed further real estate investment as investors waited to see whether their pass- through benefits would be lost. The losses came with the passage of tax reform in 1996.
Unable to lease their commercial real estate or generate tax-oriented sales to generate cash flow, developers began to seek abatements, or surrender their properties to lenders. Savings and loans lost a lot of money through the devaluation of real estate loans and the collateral supporting loans. Through the Resolution Trust Corporation (RTC), the federal government attempted to contain the losses associated with the failure of the Federal Savings and Loan Insurance Corporation (FSLIC) and much of the savings and loan industry.
Periodic overdevelopment of real estate may be unavoidable. The length of time necessary to acquire property, design and finance a project, and bring it to market practically ensures some mismatch of supply and demand. Some theorists believe that the expansion and contraction of real estate markets can be explained through the examination of periodic cycles; others trace waves of supply and demand that peak at different times. The key factor in all markets, however, is the real demand for space?rather than the demand for investment.
Although serious demand-supply imbalances will continue to plague various real estate markets well into the 2000s, in the long run a return to development driven by real demand and real profits will benefit the industry. The recognition that supply and demand do not work in tandem will help banks maintain their important role in real estate financing.
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Chad Mayes is the creator of CEMLending.com, a resource which provides commercial mortgage loan financing options. This article is copyright of CEMLending Connection. This article may be reproduced as long as author’s name and all links remain intact. |
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Here you will need to compare the adjustable mortgage rates (for similar terms and conditions) offered by various mortgage lenders in order to determine the best mortgage rate of adjustable nature.
Untold Facts About The Commercial Real Estate Loans
Looking for buying a property? Getting short of money? Avail commercial bridging loans that look after all your financial shortage while you go for buying real estate.
Commercial real estate loans come handy if you want to buy a property of any of your purposes like for business use, agricultural use, development of resorts, recreational center, motels, shopping centers etc.
Commercial real estate loans bridge in the necessary finance needed by you to own a property or real estate.
The loan amount generally approved as commercial real estate loans depends upon the borrower?s repayment ability, income status, credit history etc. Commercial real estate loans are generally secured by collateral. The borrower is required to keep in his assets against the loan amount. Since the borrower keeps his assets as collaterals the interest rates charged on the loan amount is low.
The usual repayment tenure for commercial real estate loans is large and the borrower can repay back in easy monthly installments. However the exact interest rate may vary according to the lenders policies. However the loan amount borrowered should be properly calculated so that the borrower does not borrow an amount that he has difficult in repaying.
Commercial real estate loans can be availed online. The borrower just needs to fill in a simple online application form and apply for different quotes. Many private as well as governmental institutions provide commercial real estate loans. Online one has a range of choices for commercial real estate loans. The borrower needs to do some research to find out the best suited deal out of the lot. Many real estate agents are available in the market which can help you get what you desire for that to on most reasonable rates.
Now you do not need to worry about any financial problem involving real estate. Commercial real estate loans helps in overcoming all your financial difficulties by providing the necessary finance you may require.
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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. She is currently working with Commercial Secured Loan as a financial advisor. To find href=”http://www.commercialsecuredloan.co.uk/commercial-real-estate-loan.html”>commercial real estate loans, cheap commercial secured loan, commercial secured loan uk, commercial business secured loan, bad credit commercial secured loan that best site’s you need visit http://www.commercialsecuredloan.co.uk/ |
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This increased interest rate means that the cost you pay for your loan is higher than if you had a down payment.
Miscellaneous Paia and Maui Notes
I had a few potential things worth blogging on today, but none were quite content rich enough for …
Commercial Real Estate Mentors
Coaching You to the Next Level
I want to take a bit of a side-trip from my usual hard-hitting commercial mortgage loan and investment property advice. I had the opportunity to spend a few days at the Pacific Life Open tennis tournament in Indian Wells, California last week while on vacation and noticed a minor, but significant change in the rules. The change was minor in that the players were allowed to ask for a time out to spend time with their coaches between sets. It was significant because the opportunity to speak with their coaches helped several players turn their games around.
For those of you not familiar with the rules of the Association of Tennis Professionals (ATP) coaching during a match was, until recently, against the rules. In fact, a player could be penalized points during a match if the umpire felt that he or she was getting verbal or non-verbal coaching tips during a match.
I point out this concept of ?coaching? because it has implications in commercial real estate investing.
Have you ever stopped to consider why the best sports figures and Fortune 500 CEOs hire coaches? On the surface it doesn?t make sense. These people are the best in the world at what they do, so who is realistically going to be able to help them get even better? Well, as I?m sure you already know, the reason that they are the best is because they have coaches. Coaches provide several things for those at the top of their profession and those seeking to improve their performance:
1. An external, unemotional perspective to help the one coached see things that they can?t perceive about their performance.
2. Information on new aspects of the profession or related professions to help increase performance.
3. Networks of other professionals who can help in areas where the performer is weak.
4. Experience from their past challenges, helping the one coached move ahead faster.
So what does this have to do with commercial real estate?
Whether you?re just starting out or are a seasoned development professional, I can guarantee that you?ll get better if you enlist a commercial coach or coaches to help you grow. So where can you find a commercial real estate investment coach?
Let me note that we will soon release coaching programs for investors and loan agents who want to break into and excel in the commercial side of the business (email us here for more information: Coaching@InvestmentPropertyInsider.com). However, until those coaching programs are up and running, here are some suggestions on finding and using a coach to help you get better at investing faster:
1. Consider a retired commercial developer, investor, or real estate agent. You could check with a local commercial real estate office to ask if anyone is retiring soon or has recently left the business. Approach them with the concept of becoming an apprentice and giving them a piece of your profits. They might just enjoy passing on their wealth of experience.
2. Check with a local S.C.O.R.E. office to see if there is anyone who has experience in the commercial real estate investing or development businesses. S.C.O.R.E. is a non-profit business resource group and can be found at www.SCORE.org.
3. Do you know anyone in the business that is already successful? Approach them with the idea of becoming an apprentice, but be very mindful of their time when you do. Again, consider offering them some of your profits as compensation.
4. Consider a personal or business coach for hire. There are a lot of people in this business and some of them are very good. I?d caution you to be very careful whom you hire, however. You?re looking for a specialized type of coaching here, more than the generalized life coaching that a lot of these people offer.
I would suggest a few other points in selecting a commercial real estate coach:
1. Make sure that they have actual experience in commercial real estate investment, sales, or lending.
2. Hopefully they will provide you with access to experts in related fields to help you understand all aspects of the business.
3. They should allow you to access other investors so that you can network, share resources, and benefit from each other?s experience.
4. They should provide an archive of useful information, resources, and tools for your benefit, accessible at any time you need.
As I mentioned, having a coach handy helped several players turn their matches around to advance to the next level at the Pacific Life Open. You should strongly consider your own coach to help you get to the next level in your commercial real estate game, too.
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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.? ? |