Blog - Michael McVinney
Contact Michael McVinney, a NY licensed Real Estate Broker. Michael McVinney is also licensed in PA.
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EDIT: They'd be my occasional room mate. It would be my house. Sex offenders have to register after 7 days of being at an address. Something like that. So yes, this house has to be away from and schools or parks if I want to house my family member when they need a place to stay. Hey, I'm looking to get a house. One of my family members is a registered sex offender. They still have trouble finding a place to live, even though the case was over a decade ago. They're hard workers and honestly decent people. Made and paid for a mistake while they were struggling with things that happened to them in the past. I'm tired of seeing them be pushed around with other family members or having periods of intermittent homelessness because of this. A house is a big investment. I need a realtor to help me find one. How do I (realistically) explain that any house needs to be 1000ft away from any schools or parks? Can I have confidence in my realtor to keep the information private if I say it's because one of my family members is a sex offender who may be living with me? submitted by /u/TheAdventMaster [link] [comments]...

This post originally appeared on tBL Marketplace Partner member  The Massimo Group Blog and is republished with permission. Find out how to syndicate your content with theBrokerList. [embedded content] Summary: Let’s face it… It’s not easy to pick up the phone and ask for business. Heck, forget about asking for business… Sometimes it’s hard to get past the gatekeeper! Today’s Massimo Minute is a replay of one of our best prospecting workshops: How to immediately add high-quality opportunities to your pipeline without stressing over prospecting calls You will learn what to say, what to ask, and how you can position yourself as an invaluable resource. If you want to learn who to call every day, join us on April 11th in Newport Beach CA. Here’s what we cover: 1: Why you should ALWAYS have your prospect list with you 2: The importance of knowing who to call every single day 3: The step-by-step actions you can take to immediately start filling your pipeline 4: A high-level overview of your prospecting playbook 5: How to leave a voicemail that makes your prospects want to call you back 6: 4 mental triggers that get your prospects to say yes 7: The opening statements that will earn the rest of your call 8: 4 prospecting questions that your prospects will actually want to answer 9: How to position yourself as an invaluable resource 10: How to create your personal prospecting playbook Resources If you’re serious about growing...

I'm not really sure where else to turn. I still live with my parents, though I plan to be leaving soon. I have a well paying job and am self sufficient, I'm just looking for a place right now. My entire family today left on vacation to Disney World, which is quite expensive, and after the flight landed my dad called me and explained that my mom hasn't been making mortgage payments (she's in charge of that) and has been throwing out all the notices. Unbeknownst to all of us our house was foreclosed on, and is going up for auction in 8 days. They won't be home for 10 days. My dad isn't sure he has the capital to buy our house back, so we may lose it if it goes to auction. Is there anything I can do before the auction to stop my family from losing their home? submitted by /u/ecacackcin [link] [comments]...

My fiancee and I have been house shopping, mostly for fun right now, will probably get more serious in a couple years. We've decided we're okay with a mobile home (no parks though), but they most we'd pay for one is around $50k and the most we'd pay for a 'real' home is around $95k, unless we find something with good land or nearby a river or something like that. Ideally we're looking for something with a modular kitchen, 1-2 bedrooms, and 1-2 bathrooms. I'm leaning toward a 'real' home because the roof will be strong enough to install solar. We're looking in relatively low cost of living areas, so nothing we're finding is broken down or needs a ton of work, but what we've noticed is that every mobile home we've come across looks like it was designed by Ikea (which we love) and every house we've seen so far has such strange design choices that it's a huge turn off. I'm talking like windows put in diagonally (or all the windows are stained glass church-style), extremely steep A-frames leading into the ground, thick shag carpets in the bathrooms with some questionable stains, every room painted a different shade of dark brown, hallways so small not even a child could squeeze through them, additions that look like the builder just...

I am in California (central valley) and my closing costs are $12k on a $245k home on a FHA loan or I can choose a Cal HFA loan (buyer assistance) and total closing costs are going to $4k more? (I need to ask lender on the exact amount). Is this reasonable?? I want to go another lender and get a second opinion, but can I do this? Am I too late? I already submitted my deposit and paid for inspection. (I think I have 2-3 wks left til Escrow closes) submitted by /u/anewfoundsin [link] [comments]...

This post originally appeared on tBL member Michael Kushner's blog Omni Realty Group and is republished with permission. Find out how to syndicate your content with theBrokerList. Businesses in every industry have turned to social media as a marketing tool to share information, grow their band and cultivate an audience. While in many cases, this has proven successful, there are plenty of businesses who miss the mark, and wind up disappointed when their social media strategy fails to deliver its intended results. For commercial real estate professionals, social media can be a highly valuable tool, but only when used correctly – and consistently. Take a look as we discuss five important points for using social media to promote your commercial real estate business – or any business. Brand yourself as a thought leader. We all have to start somewhere. The same is true for building your online brand. Who are you going to be? Your content, and how you share it, will have a profound impact on the answer to this question. In business, I would think most of us want to be branded as a thought leader in our industry. In commercial real estate, you can achieve this by sharing expertise on technical topics, offer an analysis of data and trends, and partake in thought-provoking discussion. One of the most powerful platforms for this is...

This post originally appeared on SimonCRE Insights Blog and is republished with permission. Find out how to syndicate your content with theBrokerList. No commercial development project goes from planning to completion without a hiccup or two. From multiple site plan revisions to meeting various municipal requirements, these types of projects can be time-consuming and costly. Your project’s planning phase may include dozens of zoning and design variations to meet all the requirements from the municipalities.  Because numerous municipal entities will likely review a project’s plans, the results may include different interpretations, comments, and revisions. This stage may also become convoluted due to staffing changes and the assigned planner being changed. So what happens when you find yourself faced with handling constant changes?  Here are a few ways to be proactive in minimizing overall expenses and delays, even when rework is inevitable.   Be Cognizant of Project Fees and Timelines In addition to the obvious labor and materials costs, you should be aware of unexpected costs from the start, such as resubmittal fees, change orders, and remediation. Trying to mesh so many complex and often conflicting ordinances and requirements can set the development review process back for months. Address what is absolutely necessary to meet project timelines and costs if numerous site plan revisions are required. It’s important to sufficiently plan for how municipality review will impact project schedule. Understand the Applicable...

This post originally appeared on tBL Marketplace Partner LeaseQuery's blog Your Lease Queries, Answered and is republished with permission. Find out how to syndicate your content with theBrokerList. Why Excel? If you’ve ever tried to format your spreadsheets in Excel, you know that it can be time-consuming. Businesses of all sizes and across industries rely on it to collate their data and to see the bigger picture. Though we know that Excel is limited when it comes to lease accounting, we still know that many accountants use it in tandem with a lease accounting software, especially to export reports. We interviewed a few of our in-house accountants to get an idea of how they use Excel. These tips can help you move faster in the program and handle your reporting with ease. Most of the tips below use hotkeys, which are keyboard shortcuts that help you do the things you need in Excel quicker. The fundamentals Andrew McCown, Sr. Manager of Technical Accounting stated his best tip was Alt + CTRL + V, V (for values) + Enter = Paste, which allows you to paste only copied values, not formulas. Another shortcut he uses to copy data or functions down a specific column is to “double click the little black box in the corner of a cell with formulas to automatically copy them down the column.” Jason Parker,...

This post originally appeared on Marketplace Advertiser, Connected Real Estate Magazine and is republished with permission. Find out how to syndicate your content with theBrokerList. Vapor IO and Crown Castle announced this week they teamed up to create a service that seamlessly interconnects Vapor IO’s Kinetic Edge with Amazon Web Services (AWS) through Crown Castle’s high-speed Cloud Connect. The revolutionary product will allow a new class of mobile and wireless edge applications that span the continuum from edge to core, the companies said in a release. IO’s Kinetic Edge customers can now start building edge applications that interconnect with AWS over an operator-grade fiber optic network. Built atop AWS Direct Connect, the collaboration will unlock a strong class of edge applications that divide the workloads and data between the mobile edge and centralized locations, delivering a seamless end-to-end experience. “By directly connecting AWS services to applications at the Kinetic Edge, we’re bringing the full power of the cloud to the last mile wireless network, delivering the foundation of a true edge-to-core architecture for developers,” Vapor IO Founder and CEO Cole Crawford said in a statement. “We are aggressively rolling out the Kinetic Edge across a national footprint that will reach over 20 markets by the end of 2020 with a planned deployment of over 80 additional markets. By incorporating AWS Direct Connect into our last...

My husband and I just recently bought a 1920s build home that was completely flipped everything is new. However, what I am noticing upstairs is that in one bedroom there are two dips/holes on the floor. To be more clear, when I walk over the carpeted portion, I can feel the dip in the floor it’s probably as big as a softball. My husband seems to think that this could have been during construction as a way for rain to fall through it. What has been your experience have you seen anything like this before? submitted by /u/polishpanther5 [link] [comments]...

I’m not looking for anything much, less than 90k condo, and I’m terribly indecisive (I’ve seen 5 places and just don’t “feel” it yet) so I’m worried I’m wasting my realtor’s (who is fantastic btw) time since I know the commission won’t be that great. But I also feel like I’m being silly, that he maybe won’t view it as wasted time, I want to see more places, but I don’t know...

This post originally appeared on Buildout's Blog and is republished with permission. Find out how to syndicate your content with theBrokerList. Earlier this year, we partnered with theBrokerList to gather results for our annual DNA of #CRE survey. Brokers in firms of all sizes all across the country shared their insights with us on what makes them successful and what they think would make them more successful, as well as what they expect for the future of CRE. Here’s what brokers viewed as their biggest challenges and opportunities in 2018: Relationships still drive a broker’s success, but they’re not spending most of their time building those relationships. Brokers largely believe that relationships are the biggest factor for winning new business, and have since we began conducting the DNA of #CRE in 2015. However, building those relationships is not necessarily how brokers spent most of their time. We found that brokers and their staff evenly split their time between administrative tasks, marketing tasks and developing relationships. Brokers feel the CRE industry is lacking an MLS, a good database, and affordable data-sourcing. In open responses, brokers told us they want a multiple-listing service (MLS), a more straight-forward CRM or database for CRE professionals, more affordable and effective data sourcing, and universal integration across their tools. It’s clear that brokers want new tools and technology to help them with their...

I'm writing this as I am kinda sad. My husband and I recently quit our jobs to be full time investors. It's been in our plans for years. We flipped houses for years as we both held full time jobs to stash up the cash to buy rental properties. We currently own 5 properties with net income already replacing my old salary as an engineer. We also own 3 more that we are working on to get them up and start earning income. The fact of the matter is before we quit we stashed up a lot of cash. We also tried to do this with our full time jobs but finding the time to do it was always hard. Our goal has always been to get at least 8 income positive cash flowing properties by the end of this year, which we have achieved. Our goal for next year is to double whatever income we get from the rentals at the end of this year. Etc. We have real plans written out. Ok, here is the part that makes me sad. We all grew up being indoctrinated to believe that we have to go to school, get good grades, get a full time job to work for someone else, and get a gold watch when we retire. Any straying from this...

This post originally appeared on Marketplace Advertiser, Reonomy and is republished with permission. Find out how to syndicate your content with theBrokerList. Opportunity Zones have taken the country by storm, and Houston is no exception. Designed to stimulate low-income, underdeveloped neighborhoods, Opportunity Zones incentivize investment in designated areas. Over the next decade, investors can buy, build, or renovate property in these specific locations for substantial tax breaks on capital gains. As the most populated city in the state of Texas and fourth in the United States, Houston is full of possibility. Now, with the addition of Opportunity Zones, commercial real estate investors and developers are paying particularly close attention to Space City and its surrounding suburbs. Below, we explore potential Opportunity Zone investments based on asset class in Harris, Liberty and Walker Counties. By examining Reonomy’s robust sales data, we analyze Houston’s parcel breakdown for potential investment options. Harris County Everything is bigger in Texas, even the counties. With nearly 4.6 million residents, Harris County (which includes city proper) is the most populated county in the state and the third most populated county in the nation. With over 300,000 commercial properties throughout the county, Harris County is a hotbed for investment and development. Due to its burgeoning population, the city’s multifamily market continues its trajectory, with unit absorption and occupancy rates steadily increasing and closing...

We are looking at different IDX options for a website. Wovax looks like a great option, but the site seems dead (no blog posts, social posts, etc. since 2016). Are any of you currently using them? Do you recommend the company? submitted by /u/JimRawley [link] [comments]...

Anyone use this program before? I'm giving it a try, seeing if anyone has had good/bad experiences. ​ https://www.zillow.com/marketing/rental-manager/tenant-screening/ submitted by /u/magnoliasmanor [link] [comments]...

So before we got close to listing our house (hadn't even chatted with an agent) we had an offer to purchase our house. It's a good offer and we are going to move forward without any realtors. The buyer's attorney sent me an offer letter, which is pretty much standard aside from a request that I cover the buyers attorney fees (no estimate included, just open ended). I have several issues with this, obviously being open-ended, but also if I am paying a lawyer they're going to look out for my best interests always...

This post originally appeared on Beck Partners' Blog and is republished with permission. Find out how to syndicate your content with theBrokerList. With higher standards and innovative directions throughout 2019, Industrial Real Estate Investors need to be forward-thinking and stay up-to-date with industry best practices for 2019 and beyond. Coworking spaces have started to grow rapidly throughout the nation. Since we do not have many coworking spaces in the Pensacola area, this could be something a smart investor might want to invest in. The need for coworking spaces is projected to increase in the years to come. The Society of Industrial and Office Realtors (SIOR) is expecting that over 5,000 coworking spaces will exist across the United States and nearly 22,000 globally by the end of this year. E-Commerce is taking over Industrial Real Estate with 267.2 million square feet of Industrial Real Estate space currently under construction and a 7.2 percent increase in rent growth. You can thank the modern shoppers that utilize the convenience of online shopping. As people trust packages to arrive more quickly, new developments will be built closer to consumers. With the new year comes contemporary ideas, higher standards, and creative directions of thought for industrial real estate professionals. So, it’s no surprise that the industrial real estate sector is experiencing exciting changes. To keep up-to-date with this year’s innovations, be...

This post originally appeared on tBL Marketplace Partner member  The Massimo Group Blog and is republished with permission. Find out how to syndicate your content with theBrokerList.  We talk a lot about the traits and habits of successful CRE professionals.  But if you follow Charlie Munger and Warren Buffet, you’ve probably heard them say:  “Invert, always invert.” This is especially important in commercial real estate. When you invert success habits and analyze failures, you learn what to avoid.   So in today’s Massimo Minute, I’m diving into the top 7 ways to fail and how to avoid falling into common CRE traps. 7 ways to fail in commercial real estate: #1: Work like an employee. Go ahead and work 9-5. Don’t show up as a boss, and you’re guaranteed to fail. #2: Ignore social media. Forget about what worked in the past. Today, it’s all about getting attention, and there’s no more effective way to get attention than by posting. If you need a social media strategy, it’s something we cover in our coaching programs.  #3: Rely soley on social media. Social media is a presence play. It does not replace prospecting. If you’re relying on your marketing and referrals, you’re going to fail – especially in a downturn. If you need a prospecting playbook, send me an email at rsanto@massimo-group.com.  #4: Don’t find additional ways to prospect. Referrals and repeat business are...

This post originally appeared on Marketplace Advertiser, ClientLook and is republished with permission. Find out how to syndicate your content with theBrokerList. The Ultimate Social Media Checklist For CRE Professionals When it comes to social media, consistency is key. Every industry – including commercial real estate – is benefiting from using social media to reach their ideal audience and build their brand. However, don’t just rely on your companies marketing department to handle the social media, since they are highlighting the entire company – not you specifically. As a commercial real estate professional, you want to have your own social media pages that highlight your expertise and make it easy for potential clients to contact you. Use this social media checklist to make sure you’re on the right track to market your business as effectively as possible. Pick Your Platforms Use at least 2-3 different social media platforms. For commercial real estate, the most popular are LinkedIn, Twitter, and Facebook. Of course, you can also have Instagram, YouTube, Pinterest, and Snapchat if you have the time to fully commit to all of those platforms. If you’re new to using social media for business purposes, I suggest that you start with two platforms and add more as you feel inclined to do so. Be Consistent On each platform, it’s best to use the same profile photo, name, and short bio....

My partner and I did some 5 year planning. This is what we're looking to do! This isn't meant to be a brag session. And I know its just a plan but I figured people might enjoy getting a look at whats going on in my business right now. In 2017 we rolled our profits from our little old sweaty startup into a real estate development and we finished construction of a self storage facility in Ithaca NY. We spent $2.4M (75% financed by a local bank). We purchased an additional property in October of 2018 across the street for $400k. I own 40%. My partner owns 40%. Investors own 20%. Its nearing stabilization ($55k in revenue in July and $12.5k in expenses for $42k in EBITDA) or $12,500 for each Dan and I in cashflow and $15,500 each in income. It's a great asset and it's going to be hard to part with that monthly recurring revenue. But the plan is bigger than that so we have it listed for sale. We got an offer for $4.9MM a few months ago but we're aiming for the $5.2MM mark. We're getting a lot of interest and have had action lately. That sale would spit off about $880k each for my partner and I to reinvest. To differ the taxes into the future...

This post originally appeared on tBL member Allen C. Buchanan's blog Location Advice and is republished with permission. Find out how to syndicate your content with theBrokerList. Image Attribution: www.dreamstime.com One of the ways I survived the economic downturn of 2008 was to “work out loud” – a phrase coined by my bride of forty years. Simply, it is the practice of taking my daily tasks as a commercial real estate professional – finding, winning, and fulfilling business – and writing about them. Who knew the weekly missives would someday appear in your subscription of the Orange County Register Sunday Real Estate Section. Moreover – an internet catalog of commercial real estate topics now exists for inquiring minds. A digital footprint is created which is akin to a marketing sign on a vacant building – a touchpoint is formed. My fear – when I started blogging in 2010 – was only two people would read my ramblings – my wife and me! Turned out – I was ahead of the content marketing curve – before content marketing was a thing. Now, I’m known nationally – in my industry – as one of the early adopters of social media to distribute the content I create. Doubt what I say? Perform a Google search for Allen C. Buchanan and see for yourself. What few of us anticipated?...

I'm the agent in question, and I am thinking of taking this listing for a couple who I've known for over a decade, and am friendly with socially. Once upon a time, they told me about how their basement flooded. So you can see where this is going...

Just closed on our first house a week ago and not long before closing we met the next door neighbor, a woman who has lived in the house for 45 years. Among the million items she told us about the many previous people who lived in our house, she talked about the fence between our properties. There is a slight jag in the straight fence line around a tree and a bush. She said in the early 90s she and the people who lived here made an agreement that she could have the lilac bush on her side of the fence and they could have the hazelnut tree on their side. Really the property line is directly down the middle of both of these (roughly, little more on our side than hers). Here is a beautiful paint representation, where red is the property line, blue is the fence, and green are the two trees. Our realtor seemed concerned and gave us two suggestions for real estate attorneys, but we aren't really sure what we should be looking to accomplish. Do we just want the agreement in writing so we don't "lose" our bit of property? We assume this isn't something we should just let go and should deal with it sooner rather than later, but we don't really know what...

I don't know who to trust. Our agent is representing both the seller and us, the buyers. The house was not on the market, the seller wanted $489k, our agent said he thinks the market can hold that. One of the lenders (Lender A) we've been working with was the agents recommendation, the other lender is not (Lender B). Lender A's appraisal came in at exactly $489k which sent up a red flag for me. Lender B came back at $434. We're going to have a call with Lender B today in which they will go over both appraisals with us. Is there any scenario in which this is simply a difference of opinion on value? Lender B is a credit union, are they typically conservative in their lending practices? Is there any scenario in which our agent and his recommended lender are NOT trying to screw us over? Talk me down from the ledge if its possible. submitted by /u/Dog-Log [link] [comments]...

This post originally appeared on Marketplace Advertiser, Alliance CRE Advisor's Blog and is republished with permission. Find out how to syndicate your content with theBrokerList. As a real estate investor, one of your goals should be to keep up with what is happening in the industry. There is no better way today that by listening to podcasts. Podcasts have become a great way to keep up with current events, stay educated on issues, or learn more about the housing industry. The beauty of podcasts is that you can listen to them while commuting to work, at your desk, or while taking your morning shower! Here are seven best podcasts you can subscribe to today. 1. BiggerPockets It is a reviewed real estate podcast and rated number one on iTunes. Their blog and website are a trusted resource for real estate professionals owing to their candid discourses about the serious issues facing real estate professionals today. BiggerPockets Podcast cuts out the hype and delivers practical advice from all professionals in the industry who are living and working in the real estate industry. It has throngs of like-minded real estate enthusiasts seeking to become better real estate investors. It caters for the start-ups as well as those who have been in the industry for years. BiggerPockets.com has free information on matters such as networking, deal-making and real estate investor...

This post originally appeared on Beck Partners' Blog and is republished with permission. Find out how to syndicate your content with theBrokerList. As baby boomers move into the age of retirement, employers find themselves looking for ways to improve their work culture. Attracting and retaining top, millennial talent can be tough, especially if an employer doesn’t understand the kind of environment today’s modern worker thrives in. In this installment of CenterStage, Kristine Rushing, the COO and Risk Consultant at Beck Partners, shares lessons learned and provides an insight on the Beck culture. Providing What Millennials Want “Millennials, or modern workers, simply want an environment where they can learn and grow. However, millennials aren’t the exception. This is a common expectation for everyone looking at employment opportunities,” Kristine explained. Millennials look for environments that are fun but also have a focus on relationships, friendships and being part of something worthwhile. Autonomy and the ability to make their own decisions drive environments millennials can thrive within. “This is the environment we create for our team members at Beck,” Kristine said. Beck’s culture is “fluid”. It’s fluid because each person that an organization hires impacts their culture. This is one of the many reasons the hiring process is important. Kristine said: “Our hiring process is unique in that it consists of a peer panel comprised of individuals who exemplify...

This post originally appeared on tBL Marketplace Partner's, RealNex blog RealNex Media Center Blog and is republished with permission. Find out how to syndicate your content with theBrokerList. Did Ya Know RealNex now includes On-Board Guide Me Tutorials throughout the program and we released an incredible update to MarketEdge including 32 new Cover Pages with enhanced design controls. The new Guide Me feature is accessible from the blue icon on the top menu bar on each screen. Simply click Guide Me and type in how you want help or select from the list. It will then provide a step by step tutorial with video links to walk you through a process. The Guide Me topics are constantly being updated as new features are added. Guide Me also has cool “Wizard” features to help you build out your Timelines and Templates. You can also use Guide Me to book an appointment or register for a training webinar. Look for more details on how to tap into the power of Guide Me in future issues of Did Ya Know. We are excited to have released a major upgrade to RealNex MarketEdge. One of the great enhancements is to Cover Pages. We have added 32 elegantly designed new Cover Pages that you get out of the box. These cover pages include landscape and portrait formats and automatically inherit your...

i don't sleep at night anymore because they crawl over me when i sleep they roam on the toilet seat when i go to take a shit they roam on the kitchen counter when i cook i can't take this anymore. they got the cheapest exterminator they could find who clearly did nothing i don't want to live like this anymore how do i break my apartment lease because of this? but i don't even know where to go...

I basically live check to check with zero ability to save because things are so tight. There’s not much room to cut expenses either. I do own assets though and am about to inherit some more money next year. If I sold everything I could probably get about $300k next year. One asset is a house I own in the USA (I live and work in Japan) that I bought for $105K and renovated for myself, and is now valued at $160k (not calculating renovation, only based on values increasing in the area). I want to get some passive income to supplement my salary here. And probably won’t be able to go back to the US to manage things, except for occasional trips, and I’ll be spending time with family on those. Here are a few options I considered: A) own 3-4 properties outright, live fairly comfortably and save to buy another in cash in 5 years or so. B) get about $800-1000 from my current house to let me live slightly easier and buy 5-10 properties with 20% down. C) keep living paycheck to paycheck and sell my house and buy 10-15 properties with 20% down on each. This seems like high risk. I’m still in the early stages of research and don’t even know how these kinds of loans...

If you own a rental property, what tax advantage is there to forming an LLC? I keep reading that it gives you "Pass Through Taxation." Does that mean you do not have to pay any taxes on rental income as an LLC? If that's the case it sounds like a no brainer. Without digging into all the liability/legal protections you get as an LLC. submitted by /u/SmugPug5 [link] [comments]...

Hello, I am looking into buying a 2 acre lot in Washington state. My plan is to buy it and then over the next couple years begin developing my family’s final home. We’re not buying this for an investment but to live in forever. My question is where do I start? I’ve been searching online for a couple days and the information there is overwhelming and seems to be flooded with ads and commercials more than true information. Is there a guide or a book you can recommend to help me understand the process of hiring contractors, builders and getting licensing and permission from the city to do what I want. How much can I request from my realtor for recommendations? My only experience is buying the current home I live in which was already built. It was a pretty straightforward process. Any notes would be appreciated. Thank you very much. Edit This sub is amazing! I’ve gotten great feel back and you all are now stuck with my my silly questions in the future. I wasn’t sure how much detail people would want. The property is 2 acres near the water in WA for 400,000 USD. If I buy it will be half cash, half mortgaged. I currently own the house I live in, also in WA, and plan to...

Hi all, Ive been a homeowner since October of 18. I bought my house and put 12k down. I had a really good job and was doing well. My credit wasn't the greatest, I got a mortgage with a rate of 4.75 and turned out my payments would be 2400 at the time. I didn't really sweat this because I didn't understand what 2400 a month actually was. Long story short, I had to move on from that job and get a lower paying one. Currently these payments are killing me. I can make the payments, but I just have such a hard time saving any money. If I'm lucky I put away 3-400 dollars every month. My current credit score is about 670, I tried to refinance but the rates I'm getting offered are 4.35 and would only bring my payment down 300 bucks a month. What are my options here? Should I tough it out? submitted by /u/moodyboogers [link] [comments]...

This post originally appeared on Southpace Blog and is republished with permission. Find out how to syndicate your content with theBrokerList. The world’s largest small-quantity metal supplier Metal Supermarkets is opening a new location in Birmingham at the Continental Gin Industrial Park. The company has over 80 brick-and-mortar stores throughout the United States, Canada, and the United Kingdom. Metal Supermarkets is known as “The Convenience Stores for Metals” and carries a vast variety of metals as well as offers services such as production cutting, shearing, and punching. The retailer will be occupying 10,000 square feet at their new location and is expected to open around August 1st, 2019. Rich Vanchina represented the owners of Continental Gin and Bill Gunn of JH Berry represented Metal Supermarkets in the leasing of this deal. Metal Supermarkets chose the thriving Continental Gin campus because of its proximity to downtown Birmingham. If you or a client are interested in joining Metal Supermarkets at Continental Gin along with tenants including Cahaba Brewing Co. and Ram Tools, there is still space available! 30,000 SF Warehouse 20,000 SF Distribution Warehouse Space Contact Rich Vanchina today to learn more about the campus and these spaces. 205-326-2222. The post Metal Supermarkets New Location at Continental Gin Industrial Park appeared first on Southpace Properties. RSS Feed provided by theBrokerList Blog - theBrokerList for commercial real estate brokers...

This post originally appeared on tBL member Joshua Lyon's blog Joshua Lyons Marketing Blog and is republished with permission. Find out how to syndicate your content with theBrokerList. If you’re new to marketing it can be challenging to keep up with all the online marketing terms that are used. Luckily, you can use this blog post as a cheat sheet! This post will introduce you to some of the most popular marketing expressions to be aware of. If you know of a term that’s should be added, send us a note in the contact form [at the end of this post], so we can see about adding it. Search Engine Optimization (SEO) Search engine optimization is a very popular term used by website owners and digital marketers. SEO is a marketing tactic that focuses primarily on improving website rankings in search engines. There are two forms of SEO, being on-site and off-site SEO. We recommend that websites practice both forms of SEO (if possible). This will increase the chances of you seeing positive results from your SEO efforts. We have many blog posts that explain the ins and outs of SEO, as it is a lot to sum up in one blog post. Pay-Per-Click (PPC) PPC is a type of online advertising where the advertiser pays a certain monetary amount each time an advertisement is clicked. Many...

I'm a first time home buyer and been reading to learn & prepare. Seems like even though the market isn't as hot as before, it's still pretty competitive. Which of these contingencies are typically waived? Financing: do people usually get conditional approval from multiple lenders and waive this contingency? Appraisal: do people set aside extra cash and waive this? Inspection: this one is the one I heard to never waive. But if the seller present their own inspection report, do people typically waive this? I heard that the earnest money deposit is usually 3%, which would be substantial for a $1M+ house. Wouldn't it be risky to pretty much waive all of these? Thank you submitted by /u/photowanderer [link] [comments]...

Hi all, I'm selling my condo in south Orange County CA and I've had a very rough time getting any traffic. So far I've had the unit listed for the past 2 weeks. In that time I had my first open house last weekend which between Saturday and Sunday generated 15 groups of traffic. So far this weekend, I've had 2 groups today, of which one wasn't really even an in-the-market browser. Is there anything more I can do to increase traffic? My particular area is becoming challenging as we've got 8 other units in the same community also on the market. In that time I had 2 showings the first week, none the second week. I cut my list price by $10,000, putting it the 3rd lowest in the community. I've followed some tips that I could find like posting to craigslist and the like, and because I feel like I may have overestimated the market I dropped my list price to be the now #3rd lowest out of comps in my complex but I'm out of ideas what I could do to get more potential buyers in the door. submitted by /u/Turkino [link] [comments]...

Edited to add that my agent did request proof of funds during the initial acceptance stage. They provided a bank statement which showed nearly 4x the amount needed. Apparently it wasn't their bank statement though (what I saw was heavily redacted). And thank you to everyone for all of the responses :) So I accepted an all-cash offer at my agent's advice as I wanted a quick, easy closing. (There were 15 other offers and one signed a back-up contract.) Day of closing we were scheduled to sign at 9:00am. At 8:30am my agent told me the buyers weren't going to make it until 2:00pm as the husband was a truck driver and had been delayed, but I was to go ahead and sign my paperwork, etc. 2:00pm they don't show up. They text their agent the wife is in the ER. Late that night they tell their agent she had been under stress and released from the hospital. Agent schedules them for 1:00pm the next day to finish the closing. Again they don't show. Agent finally gets in contact with them, and they don't have the money. (Finally, we got to the truth!). They apparently have a 'benefactor' who had not released the funds to them. Today is Saturday, two days after our scheduled closing. I won't even go into the...

This post originally appeared on Root Realty's Blog and is republished with permission. Find out how to syndicate your content with theBrokerList. If you’re on the hunt for a lucrative investment property in Chicago, you’ve probably heard of Opportunity Zones. Although they can be risky investments, the payoff from an Opportunity Zone can be huge! Here is what you need to know before you decide to invest. Defining Opportunity Zones The term “opportunity zones” originated in the Tax Cuts and Jobs Act of 2017 as a way of referring to economically distressed areas that could be used as investment property. To be considered “economically distressed,” the area must meet some qualifications, including the following: The poverty rate in the area must be at least 20% Median family income in the area must be twenty percent lower than the national average household income. The United States Treasury Department must approve the area as an Opportunity Zone It’s important to know that are limits on how many Opportunity Zones can exist in a given state. The IRS only allows twenty-five percent of the low-income areas within a state to be Opportunity Zones. Not just anyone can give this label to any area, and the process of designating an Opportunity Zone takes time. The IRS and Treasury Department established the first Opportunity Zones in April 2018.  You can view a map of...

Owners purchase income-producing properties for two main reasons: 1) Investment 2) Speculation. Investors in real estate often have a longer holding period then those who buy for speculation. The primary opportunities for investors are A) Periodic return (cash flow) B) Capital preservation (safety) C) Capital appreciation (hedge against inflation) D. Leverage (other people’s money) E. Income Tax Advantage (tax shelter). When you make an investment in real estate, such as apartment buildings, hotels, offices, or storage units, the real estate capital gains tax rates in 2018 are either 0%, 15% or 20% if held for more than one year. If held less than one year, capital gains tax rates correspond to ordinary income tax brackets (10%, 12%, 22%, 24%, 32%, 35% or 37%). Speculation in real estate is most often defined by a short-term holding period with higher risk and potentially higher reward. Their return is achieved at the time of sale and is realized on the profit made on the sale of the property. For short term holders, buying at the right price is extremely important. For speculators who determine after buying a property they paid too much, changing their strategy from short to long term may help mitigate the risk with ongoing property cash flow. VanveenJF RSS Feed provided by theBrokerList Blog - theBrokerList for commercial real estate brokers (cre) and Two Financial Reasons for...

Update- listing agent contacted our agent and said they’re deciding between our offer and an older couple’s. They said they prefer us because we are young and starting out, and they liked our letter. They haven’t made a decision but they asked us if we would double our earnest money (10k) and we said yes. Not sure if this will do it, but hopefully it helps. Like most places, right now I’m looking to buy my first home in a hot market. I’ve been looking for 6 months, looked at a bunch of homes and put in probably 6-7 offers at this point. We’ve given asking or a little above and nothing. Just put an offer on a perfect house that we caught on it’s first day on. We offered our max that we can afford right off the bat which is 5k above their asking. We are also willing to do an escrow repair for the septic when they told us they needed a buyer that’s willing to work with them. Since it’s a hot market and they get multiple showings and offers, my agent suggested putting in a deadline for the offer. It was yesterday at 6pm and didn’t hear a peep besides the listing agent asking us to change one of the addendums to word it better. We did...

We made an offer to an MLS listed property. The seller accepted and so we have a sold firm situation. We have to arrange Mortgage and hence closing date was set 30 days later and 2 visits were offered to buyer. In the first visit, we noticed that the property has suffered some damages because of weather and negligence by seller in protecting the property.. After damages, the property is not in same condition when we made the offer. In this situation, what are the buyer's options please? Who has to fix the damages? The more days we delay fixing it the more damages can happen.is there anyway for the buyer to instill some urgency? submitted by /u/redrosepro [link] [comments]...

So to try and make a long story short. I am 28 married with two kids and thinking about a third. I make good money about 105k a year. Just went through a month of searching to find our dream house and we did. Although we almost didn't. Offer was accepted and now we are waiting for close date on August 26th. I am freaking terrified. Its such a huge responsibility. They house is perfect & the inspection came back with extremely minor things. Was anyone else this afraid when buying their first home????? Need some reassurance. Purchase price 195k 20% down 4.12% rate submitted by /u/HokageLLJ [link] [comments]...

I'm a Real Estate agent in Northern California looking for advice on what to do about homeless people sleeping in front of my listing. Another agent came by the property with his client and discovered a woman sleeping in the doorway. His client was so rattled that they left immediately and didn't even enter the home. I've called the HOA management company but what can they really do? I doubt they will be able to provide constant surveillance. What can I do? I thought about posting a no trespassing sign but I think that would be just as threatening to potential buyers as it would to the homeless. Anyone have any experience with this? edit: words submitted by /u/Pholove467 [link] [comments]...

I'm getting conflicting info from people I know. We have a modest house in a desirable area and had multiple offers in 2 days on the market. We wound up going with a VA loan nearly 20k above our asking price. This is a blessing for us because we are moving because of my job (I got let go 3 days back from maternity leave and the job market for my career is extremely competitive in our area. We are moving to a smaller town with a better cost of living several hours away from where we live now). We haven't had my income for months now and the expenses of a brand new baby...

This post originally appeared on Marketplace Advertiser, ClientLook and is republished with permission. Find out how to syndicate your content with theBrokerList. How To Set Your Work Day Up For Success We all have the same 24 hours in a day, but why do some people accomplish more in that time period than others? If you’re wanting to stay ahead of your commercial real estate competition, use these productivity tips to set up your day for success: Get Enough Sleep I’m sure you’ve heard this a million times, but sleep is essential to your well-being and productivity. If you don’t get enough sleep, you won’t have the energy to perform at your best. I highly recommend going to bed and waking up at the same time each day, so your body gets used to your schedule. Wind down each evening by reading a chapter or two – and stay away from your phone or computer for at least an hour before bed. Checking emails and social media will only keep you awake longer. Enjoy Quiet Time I speak with a lot of commercial real estate brokers, and many of the most successful ones carve out an hour or so of quiet time each morning. Whether it’s at the office, or at your home, having a quiet area where you can focus for the first hour of the day...

See here: https://www.reddit.com/r/realtors/comments/6k5y3w/new_agent_megathread/ Posts that don't contain specific questions or concerns about working as a new agent will be removed. submitted by /u/wamazing [link] [comments]...

This post originally appeared on tBL Marketplace Partner member  The Massimo Group Blog and is republished with permission. Find out how to syndicate your content with theBrokerList. What’s the secret to successful commercial real estate marketing? Find out how market leaders secure their target audience here. In this article: Establishing Market Presence Why Commercial Real Estate Marketing & Sales Need to Work Hand-in-Hand Maintaining a Strong Presence in the Commercial Real Estate Market Getting the Biggest Market Share By Focusing On Specific Target Markets Principles of Business Success The Secret to a Succesful Commercial Real Estate Marketing Establishing Market Presence In one of our previous posts, “The 7 Success Secrets of Market Leaders,” we identified 7 characteristics exhibited by market leaders. Knowing how you compare to these best practices will help you grow your business. In the previous post, we addressed the fourth of these seven characteristics: all market leaders optimize their time. The fifth characteristic that all market leaders share is they maintain their market presence. How do they do this? They focus on three target markets. Why Commercial Real Estate Marketing & Sales Need to Work Hand-in-Hand Market leaders are experts in their respective CRE discipline, and they broadcast this expertise to become thought leaders. More so, clients and prospects recognize market leaders’ names, understand what they do, and come to them when they have a need or question. Through maintaining this market presence and position...

Seller provided one number for HOA fees via on Zillow + the Seller's Property Disclosure Statement (SPDS) they submitted to me. Then, after we moved forward with a loan, got appraisal, inspection done, the HOA sent over all of their documents. It turned out that the fee was double what the seller reported. I thought the information provided to me was reliable and made my decisions to pay move forward with inspection and appraisal based on inaccurate information. Is it possible that an HOA charged the seller something different than they will charge me for some reason? If so, that's a bit scary that they can charge different residents wildly different numbers. At that point, it seems that I should have been told the possible range in the SPDS. submitted by /u/halplatmein [link] [comments]...

I posted last year about a storage unit I was looking to purchase within my condo building. I wanted to provide a quick update on what's been happening since alot has changed. After going back and forth about whether we should, we decided to pull the trigger. We had never heard of unit that size being sold/available, as well as having zero carrying cost. We ended up buying it for 45k. Steep price but we felt it had a ton of potential given our location. We immediately thought to rent out half the unit (200 sq ft) while using the other half for ourselves. The response was overwhelming. Not only were we getting offers to rent for 700+ a month, but also offers to purchase the unit. Fast forward and we've agreed to sell the unit less than year after purchasing for 165k. Not only that, but we've somehow stumbled on a another unit, slightly smaller, that we may purchase for the same price per sq ft as our original unit price. Meaning we would essentially double dip. Thanks to the users who recommended going in on this purchase. Hopefully we can snag a few more! submitted by /u/Pierrekidmia [link] [comments]...

A real estate agent in St. Petersburg, Florida used a picture of the house engulfed in flames as the listing photo. https://www.tampabay.com/florida/2019/07/31/how-hot-is-the-real-estate-market-this-st-pete-listing-is-on-fire/ submitted by /u/lv4myw [link] [comments]...

I've been renting since 2014. I started on a 6 month lease for a new bedroom for $725. I moved apartments 6 months in in the same complex and they upped me to $775/ month. When they offered me to sign on for a new lease the next year the rent was $850 a month. When I first moved in to this complex I met some people moving out who paid $650 a month and said their first year was $575. All with no renovations. Instead of accepting their new lease I moved into a 3 bedroom that started at $1,050. We stayed there for 3 years and the same thing happened. They bumped $100 each year. (This was all in Winter Park FL just outside Orlando) I've looked up that same 1 bedroom I started in and they go for about $1,050-1,200 now. With limited "upgrades" meaning they changed the carpet in the living room to laminate. I've just moved to Smyrna TN (just outside Nashville) and have learned that this area has moved at about the same rate. Which might mean my $950/month apartment will be over $1000 next year and we will eventually be priced out of this area too. As a lot of people in this sub, our goal is to eventually buy a home....

This post originally appeared on SimonCRE Insights Blog and is republished with permission. Find out how to syndicate your content with theBrokerList. As part of our effort to break down the value of hiring different professionals (such as general contractors or architects) to assist in the development process, let’s look at a profession that’s been crucial in just about the entire built world: the civil engineer.  Hiring a quality civil engineer is critical to achieving success in a new commercial development project. Let’s break down some of the specifics of what civil engineers do, how the search for one is narrowed down, and how they ultimately provide value to a development project.    The Role of a Civil Engineer Civil engineers conceive, design, build, supervise, operate, construct, and maintain infrastructure projects in the public and private sector. A civil engineer can identify many of the technical issues relating to the property such as the topographic, environmental, or utility constraints.  Typically, services include master site plan support, master grading and drainage plans, utility plans, preliminary water and wastewater plans, off-site earthwork analysis, among many others.  But profiling a site may also be just a part of a civil engineer’s role. They may also be responsible for evaluating zoning restrictions, analyzing existing utility capacities, and determining appropriate building maintenance. Factors in Hiring a Civil Engineer Typically, there are several things to consider when...

This post originally appeared on tBL member Michael Kushner's blog Omni Realty Group and is republished with permission. Find out how to syndicate your content with theBrokerList. Legal matters can arise just about anywhere and in any industry. Commercial real estate is no exception. In fact, commercial real estate transactions can be filled with legal pitfalls if you don’t take proper precautions or seek professional advice. What legal challenges are common to commercial real estate? For the answers, we looked to an experienced real estate attorney who has helped many clients navigate through such challenges. Hannah Dowd McPhelin is a partner with Pepper Hamilton LLP, resident in the Harrisburg and Philadelphia offices and vice chair of the firm’s Real Estate Practice Group. Attorney McPhelin concentrates her practice in real estate matters and other business transactions, including the acquisition, sale and financing of commercial real estate properties and leasing of office, retail, warehouse and industrial space, representing both landlords and tenants. She is an Accredited Professional and was named a member of The Counselors of Real Estate in 2017. Omni Realty Group had the pleasure of interviewing Attorney McPhelin to further examine the legal pitfalls that could impact commercial real estate deals. Here’s what we learned. Omni: Describe some of the most common legal challenges you’ve seen arise when working through a commercial real estate deal. Hannah Dowd McPhelin:...

This post originally appeared on Burt M. Polson's Real Estate Journal and is republished with permission. Find out how to syndicate your content with theBrokerList. Photo by Gemma Evans on Unsplash We are taking an objective look at what makes a rental property a good investment and are analyzing a six-unit residential property I have for sale on Randolph Street in Napa, California as an example. In part one, we found how income determines the value and placing too much significance on appreciation may prove to be speculative. We then briefly discussed determining gross operating income. Let’s discuss operating expenses and how financing fits in? Then we will wrap up with a discussion of cash flow and a few key financial indicators in part three. Randolph Street expenses In part one, we found the annual gross operating income (GOI) to be $120,840. In analyzing whether this property is a good investment, we subtract the expenses it takes to operate the property. Keep in mind the debt service (loan payments), cash reserves, and leasing commissions are not a part of the operating expenses. Our goal is to examine the investment property as it stands no matter who the buyer may be. We may have an all-cash buyer or a buyer who puts the minimum down payment or a buyer who likes a large cash reserve. Therefore, we leave the variable...

This post originally appeared on tBL Marketplace Partner LeaseQuery's blog Your Lease Queries, Answered and is republished with permission. Find out how to syndicate your content with theBrokerList. ATLANTA, June 20, 2019 – LeaseQuery, a leading provider of comprehensive lease accounting software, was ranked as one of Atlanta’s fastest growing companies by the Atlanta Business Chronicle’s Pacesetter Awards. LeaseQuery ranked second in the technology category, and fifth out of 100 finalists. “Our momentum over the last few years has been extraordinary,” said George Azih, chief executive officer and founder of LeaseQuery. “It’s an honor to be recognized again as one of the city’s fastest growing companies. We have no plans of slowing down – we plan to add up to 200 jobs in the next year.” LeaseQuery provides software that enables companies to comply with Accounting Standard Codification 842 (FASB Topic 842), International Financial Reporting Standard 16 (IFRS 16) and GASB Statement No.87 (GASB 87), the United States, international and governmental guidelines for financial reporting on leases, respectively. The compliance deadline for most public companies was January of 2019. Private companies have until January 2020 to comply, and the effective date for government entities is December 15, 2019. The Pacesetter Awards rankings are based on a growth-index formula based on revenue and workforce growth. The winners were announced in a ceremony on April 25, 2019, at...

**(Entirely too long rant warning!) Not sure if this is the right sub but here goes: Went under contract a month a go with quite a few repairs in addendum (at the time I didn't know that it was best to negotiate price of home or concessions instead of letting seller repair and was not told about that option from realtor). I "mistakenly" sent lender the contract with repairs addendum. When underwriting came back they turned a few things on the addendum into lender required repairs. Realtor was annoyed and said that the lender is going to make things difficult. That confused me considering the fact that all the seller had to do was provide proof that work was completed, paid, and performed by licensed professionals. Fast forward to many requests to realtor for updates on repairs and all I've gotten is one receipt and two proposals/estimates all of which didn't even address half of the total amount of repairs and only one of lender required repairs on one of the estimates. This morning, after a frustrating conversation, realtor revealed that some of repairs are being made with sellers "closing proceeds" therefore no receipts, some repairs were made without invoices therefore no receipts, and not sure if any were done by licensed professionals. Realtor suggested that we would be able to...

This post originally appeared on Marketplace Advertiser, Connected Real Estate Magazine and is republished with permission. Find out how to syndicate your content with theBrokerList. Construction-technology company Icon has predicted it will be able to use a 3-D printer to produce a concrete house within a few days by the end of the year, reports The Wall Street Journal. If successful, the Texas-based startup has the potential to help solve housing shortage—although the company does face regulatory and technical hurdles. “It’s no longer a science project,” said Jason Ballard, Icon co-founder and chief executive told The Wall Street Journal. The company unveiled its printer this week and said it can create bungalows of up to 2,000 square feet, which is almost as large as the standard home in the United States (2,400 square feet). Three dimensional real estate printing has been attempted in the U.S. and Europe, but the result was mostly simple shelters and the technology was seen more as a promise than a reality. Austin-based development company Cielo Property Group is buying Icon’s Vulcan II printer and plans to use it to build affordable housing in the city later in the year. A year ago, Icon used its technology to build a 350 square foot home in Austin after the city approved the project. A printed home getting approved already could makes things a...

After a lot of stress and whack-a-mole'ing problems and generally taking 10 years off my life through this whole process, I'm told my buyers finally got their clear to close today. Our scheduled close date is tomorrow 8/1, but now everyone is telling me our close date will be 8/6. I'm fine with that, I just want the whole process to be over with, but I'm wondering if we should be formally extending the escrow closing date. When I threatened NOT to agree to that yesterday because I felt like my agent and the buyers were playing games, everyone just about had a heart attack. Today I said I'm willing to sign an extension and now my agent doesn't seem to think it's a big deal. So...

I'm just a 20 year old who has the pipe dream of investing in real estate one day. I've learned over the years that I'm an "obliger" which is a term that basically means that I am super good at doing what other people expect of me, but I don't do anything that I expect of myself. Translation: all of my goals are simply pipe dreams, even the simple ones like drinking water every day. Anything that SOMEONE ELSE asks me to do, though, I'll do it in a heartbeat, and chances are I'll do it really really well. I thrive in work and school environments where expectations are layed out clearly in front of me for me to meet. So I figure if I ever want to make my pipe dream of investing in real estate anything more than a pipe dream, I'll have to find a mentor to coach me through it. I had someone I thought could do this for me. He's a business real estate broker that I've been working for over the summer. He's convinced my to get my RE license, and he's been giving me other types of advice, too, like about building my credit and what my first investment should be. However, his advice on credit cards made me take a step...

House was built in 1967, Rancher that had a major renovation in 2005 which extended the kitchen and added a master. We just completed all the inspections and only major items were with the chimney, septic draining, and lead paint on the bilco doors for basement access. Chimney: The previous owner installed a wood stove which connects into the furnace flue, not code, and the flue needs a new steel lining plus removal of that line. Plus fireplace needs some work on the flue. Septic: Inspection found that the tank is sealed properly but the water didn’t drain as it should. They think it’s possible root damage to the dry well or drain field but needs more investigation. Bilco Doors: Found to contain lead paint. Didn’t look like it was peeling so not sure how concerning this is. Any suggestions on how we should approach this with the seller would be much appreciated. Our thought was to request an escrow or something be setup upon sell of the house for these fixes and we would work to get them addressed. Anyway, let me know. Thanks! submitted by /u/Rtdown05 [link] [comments]...

I've bought a home before, and my real estate agent gave me access to the MLS. He made a filter based off of what I was looking for (e.g. 3BD home with at least 2BA), but I could also search outside of those parameters and browse for myself. It was the FMLS if that matters. Fast forward 1.5 years, and I can't use my old agent because he's out of the biz. I'm chatting with a different real estate agent and she's saying that she'll look around based on what I told her I'm looking for and email me some houses that she thinks will fit. I asked her about access to the MLS and she says that the MLS is for agents only and there's no consumer-facing site/app for it. She also says that I can just send her links from Zillow or RedFin and she can set up showings (I guess by then plugging the address into her agent version of the MLS). This doesn't seem like the most efficient way to do things. Is she blowing smoke/doesn't have the right tools to do the job? Should I try finding another agent? submitted by /u/serverjane [link] [comments]...

This post originally appeared on Doug Marshall's Blog Marshall Commercial Funding Blog and is republished with permission. Find out how to syndicate your content with theBrokerList. We’ve all been discouraged at one time or another. Even the big boys, those at the top of the food chain in commercial real estate, have had their setbacks. Those of us who make a living on commission income know the euphoric highs of closing a lucrative transaction. We’ve also experienced many disappointments. I know I’ve had my share. My Early Years on Commission I remember my early years on commission. I had no safety net. My spouse was a stay-at-home mom. My very first year as a commercial mortgage broker, I worked long hours only to earn $7,000. To stay afloat, I lived off my savings, and when they were gone, I tapped into the equity in my house. To say the least I was deeply discouraged. Ever so slowly I began to succeed as a commercial mortgage broker. But to get to that point required that I borrow against the equity in my house. It was a bit of an exaggeration, but I remember telling people I had the equivalent of the equity in my door knobs. Years have passed and today I own my home free and clear and I’m completely debt free. Discouragement Takes Many...

My colleagues and I have had consistently bad experiences with Redfin's title/settlement company Title Forward, but this one really takes the cake. Here's the story: Buyers under contract, everything goes smoothly toward settlement. Buyers show up, sign all their documents with Title Forward, but NEVER BRING THEIR DOWN PAYMENT! (about $700k+). Turns out the buyers are trying to scam and never had the money, but that's a side note. Title Forward completes the transaction, even goes so far as to record the new deed with the County, so these buyers are the new owners of the house, even though the transaction is incomplete. This screw up is incredibly egregious and is a complete shitshow to unravel and pull back. Attorneys are obviously involved, there are a number of lawsuits resulting. Any reputable title/settlement company would have never allowed this transaction to close. Colossal neglect and stupidity. Silver lining is that the sellers have an excellent agent (not me) who knows what they're doing and has the place back on the market and will get it sold again, but there's a natural stigma to any house that goes on/off and it does cause the sellers financial harm, especially since the market has cooled and was sold the first time in the 'hot' spring period. Redfin has their place in the market, if...

This post originally appeared on Buildout's Blog and is republished with permission. Find out how to syndicate your content with theBrokerList. The commercial real estate industry had yet another year of widespread growth in 2018, with a strong economy encouraging near-record sales levels. But the economy moves in cycles, and most are predicting a slowdown within the next few years that could affect the CRE industry. Despite these likely future economic shifts, there are still many reasons why you can be optimistic about your business’s growth in 2019, including high property values and steady interest rates. Reports show commercial property values reaching impressive levels. The value of commercial properties increased 15% from 2017 to 2018, which was just $8 billion short of the $569.9 billion sales record in 2015, according to research firm Real Capital Analytics. And this year, February’s RCA 2019 report showed commercial property prices rose 6.3% year-over-year for the month, with industrial and apartment indexes both growing over 8% year-over-year. The retail sector also posted the strongest level of annual growth that it had seen in more than two years at 2.9%. The Fed will leave interest rates alone in 2019. The Federal Reserve recently announced that it would not hike interest rates in 2019. Federal Reserve Chairman Jerome Powell also expressed a firm confidence that the U.S. economy should “see a favorable outlook this year.” This...

This post originally appeared on Marketplace Advertiser, Reonomy and is republished with permission. Find out how to syndicate your content with theBrokerList. Opportunity Zones are booming in the Big Apple. In an effort to revitalize low-income and under-developed communities across the country, this new government program incentivizes investments in selected areas for notable tax breaks on capital gains. Of the 8,700 different designated census tracts throughout the nation, 514 are peppered throughout New York State. Not surprisingly, it’s New York City where opportunity is most abundant. Appointed areas vary from borough to borough; Brooklyn has over a quarter (125) of the state’s entire Opportunity Zone pool, while Staten Island has only eight designated census tracts. Considering New York City’s reputation as a commercial real estate magnate, it’s no wonder investors and developers are paying close attention to the market’s potential. To better understand the state of New York City’s Opportunity Zones, we use Reonomy data to explore the five boroughs and their correlated asset pools below. The Bronx The northernmost of the five boroughs, The Bronx has a diverse spread of different assets across the municipality. While some asset classes like multi-family and mixed-use continue to prosper, the borough is currently undergoing a slight industrial renaissance. Due to its dense labor pool and level of accessibility to New York’s other areas, more companies are moving...

Hi, everyone. First time homebuyer, here! My husband and I live in California and are in escrow for our first home. We were fortunate to view the house within its first few days on the market, as it was getting lots of attention due to being in really great condition with several upgrades. We ended up writing a letter to the seller explaining why we really loved and wanted her home, and got the home exactly at listing price. The seller clearly took pride in her home and claimed to be very pleased we were getting it. Almost three weeks into our 45 day closing, we have already been conditionally approved for our loan and are just awaiting HOA documents to obtain a homeowners insurance quote. After that, we will be Clear to Close. The appraised value matches the listing price and we just had our inspection last week. Nothing major was uncovered during the inspection that would be a dealbreaker, but there were a few potentially costly repairs (such as a roof tuneup and some plumbing repairs) that we wanted to request from the seller. In California, we learned the seller by no means has to say yes to repair requests but we wanted to try to at least get a credit at closing. We knew in a worst case scenario,...

I am supposed to close on a house tomorrow. As part of the contract, the seller agreed to "replace the dishwasher" after we asked them to repair it. At the final inspection today, the dishwasher has been replaced with one that is significantly older, rustier, and just all around shittier than what was there before (also a different brand if that matters). I am pissed, but the seller is adamant that because the repair list did not specifically say "replace with new dishwasher' they are off the hook. What are my options as far as this goes? It seems silly to lose a house over a dishwasher, but with that and various other shady repairs, I don't want to give these people a single cent. Is there a way to force their hand on this? If I refuse to sign at closing will I get earnest money back because we can not come to an agreement on their repairs? This is in NV. submitted by /u/sarcasticblender [link] [comments]...

Hi there, I am writing because I am a beginner in Real Estate and I’d like to get some advice on how and where I should start. A bit about myself, I live in Toronto and work full time in a Big 4. I haven’t saved that much at the moment but I want to start hunting some deals to get the pulse of the market here in Toronto and the suburbs. I’d have some questions to start: I did some research online and I found the following trainings/communities focused on Real Estate investment and more. Some of them cover the financial independence topic as well. Question, do you recommend those trainings? Which communities and tools you recommend for a beginner like me in Toronto? — Grant Cardone (US) — Kris Krohn (US) — Matt McKeever (Canada) — Graham Stephan (US) — QLRR (Fr) — Theo Elliet (FR) Other posts I should read on Reddit forum to start? As a first investment in Real Estate do you recommend buy for myself or buy and then rent it? Do you recommend starting with an asset which needs a lot of renovation works or a brand-new asset or even buy on a plan? What kind of asset do you recommend: Condo, multi-family, parking spot etc.? Some areas you recommend around Toronto?...

One of my property’s is in a small rural area in WA. My lot has a trailer which I rent out to a couple and a fence down the middle of he lot to have an RV hook up. The tenant in the RV mentioned that he was looking for a place with a big garage (both rentals have large garages) and that he has retired from his car bodywork/ mechanic shop and was looking for a place to be able to bring some of his fixer uppers and work on. Before he moved in he asked that he could have a couple cars to work on, we talked about how many and I believe we said 10. I just found out that he has over 30 cars on the property and now my property manager wants to raise the rent but $600. My concern is the possible damage it could do to the yard or what it would cost if he ever just decides to pack up and leave without taking them with him . I haven’t heard anything negative from the neighbors (my other tenant and someone who loves behind the lot). They told me he has a lot of cars but he seems like a friendly guy when I spoke with them on the phone before. Up until...

I've been looking at a few properties in the $70-$100k range, but apparently, according to a lender I talked to, traditional mortgage lenders can't lend on these due to laws about the ratio of loan origination fees to the loan amount. Has anyone dealt with this before? Is there a way around it, or am I stuck paying all cash if I want these properties? If you've worked with a lender on something like this I'd love a recommendation. EDIT: Wow, thanks everyone, I guess this lender must just have higher origination fees than most. I'll talk to more lenders. submitted by /u/OtherChemistry [link] [comments]...

This post originally appeared on tBL member  Progressive REP Blog and is republished with permission. Find out how to syndicate your content with theBrokerList. I googled the term “Sleepy Equity” and I found nothing. I can’t remember exactly when or from whom I first heard the expression, but this is a term that we have discussed at Progressive Real Estate Partners a lot recently. We believe Sleepy Equity is one of the biggest reasons why an investor should consider selling their property in today’s market. What is Sleepy Equity? Simply stated it’s the equity that you have in your property that is not earning a reasonable return based upon current market conditions. For example, let’s say you bought a property 10 years ago for $1,000,000 (in this ex. there is no debt as it complicates the explanation) and, at the time, the net operating income was $70,000/year which equates to a 7% cap rate/return. Now what if it’s 10 years later and the net operating income has increased to $100,000?  Well you might be bragging to your friends that you are getting a 10% return on your $1,000,000 investment from 10 years ago!  BUT maybe it is not as good as you think. What if that property could sell for a 5% cap rate in today’s marketplace and therefore it would be worth $2,000,000? That difference of...

This post originally appeared on tBL Marketplace Partner member  The Massimo Group Blog and is republished with permission. Find out how to syndicate your content with theBrokerList. [embedded content] Any time I read a book, I consider it a success if I can glean at least 1 lesson from it. One of the best lessons I’ve learned came from Hyper Sales Growth. Jack Daly wrote a 10-word sentence that every CRE professional needs to hear. “If you do not have an admin, you are one.” Thankfully, in today’s work environment, hiring an admin (or any position) rarely means employing full-time people. In today’s Massimo Minute I’m going to share how to hire the right partners for your personal real estate practice. If you need one-on-one help with hiring partners and building your team, let’s set up a time to talk.  Here’s what we cover:  1: How to know when it’s time to hire partners 2: Who you need to hire  3: How to write a job description 4: Different types of partners you can leverage Resources Pillar 1: Productivity Pillar 2: Prospecting Pillar 3: Presence Pillar 4: Presentations Intensive 2-Day Workshop to Grow Your Personal CRE Practice “If You Do Not Have An Admin, You Are One” 4 (80%) 1 vote[s] RSS Feed provided by theBrokerList Blog - theBrokerList for commercial real estate brokers (cre) and “If You Do Not Have An Admin, You Are One” was written by Rod Santomassimo. ...

This post originally appeared on Marketplace Advertiser, ClientLook and is republished with permission. Find out how to syndicate your content with theBrokerList. How To Embrace Technology In Your CRE Business There’s no denying that technology has completely changed the way we all live our lives. From smart phones, to electric cars, to being able to access information with a simple Google search. The commercial real estate industry may have been slower to embrace the advances in technology, but CRE professionals are taking full advantage of the new resources and trends to run their businesses more efficiently. It’s time to jump on the technology train or run the risk of falling light-years behind your competition. Access Your Data From Anywhere The days of using a notebook and paper calendar are long gone. Those were replaced with items like Excel Spreadsheets and Outlook calendars. Today, most commercial real estate professionals have moved their data into the cloud. Being able to access all of your important data – your schedule, contacts, deal information, files, emails, and your to-do list – is essential. Using a commercial real estate CRM software, like ClientLook, will allow you to access all of this information from anywhere. Whether you’re in the office, or on a vacation in the Bahamas, your information is always accessible. Today, most services are internet-based. Send a marketing email with MailChimp, create...

Does anyone has some simple advice for dealing with seller's realtors when I don't have a buyer's realtor? I usually get told to get a buyer's realtor before they will give me information on the house they are selling. One realtor has straight up ignored my info requests but then dropped the price of the home by $10K. Rochester, MN, if that makes a difference. submitted by /u/MNCPA [link] [comments]...

We are locked in at 3.25 for a 400k home using the VA. I am putting down 45k to bring the mortgage to 1900 a month (including escrow) but bah is 1700. Combined net monthly of about 7500, no kids, no other debt, no car loans. We have a rental that makes 200 a month as well which I am thinking about selling (90k equity). Is this crazy? I'm usually super under budget on mortgages (15-20%) but in this new market it's hard to get something decent. We also are trying to retire in this area if the USAF let's me. submitted by /u/peepeeopeee [link] [comments]...

My market is hot, has been for awhile and shows no signs of slowing down. I’ve put in two offers this year, and had to walk from both due to inspection results. I decided to go the highest I can go on a beautiful house in my ideal location. I signed the contract, offered $1100 over and offered to pay full closing. My realtor hits me up, saying the listing agent basically shit on my dreams...

My mother is a simple woman with simple needs and was just approved for a $90,000 loan amount from Wells Fargo (to be own a share in a NJ co-op residence) with about $30,000 to be put down at a 5.75% interest rate (fixed rate 30 year mortgage). Her rate is probably high because she needed to do an underwrite mortgage due to her lack of credit history (homemaker all her life, newly widowed). This is not familiar territory for me, so I don't really know what sort of interest rate to expect. submitted by /u/tempiku [link] [comments]...

In my market you have to move fast when you find a house that you like. I didn't think I would find a house that checks all of my boxes without moving my price limit up and up. I found a house that was close enough without busting the budget and bought it. I just moved in to my new house about a month ago and I'm still getting listing update emails from realtor.com. A house was just listed over the weekend that checks every box on my wish list, for less than what I spent on my current house. It's hard to not feel like I missed out on my dream house. I know it's crazy to think about moving again after a month, we've barlely unpacked. I wonder if this is common, and people always feel like maybe they settled on the house that they're in. I should probably stop house shopping and just enjoy the one I bought right? submitted by /u/paulg-2000 [link] [comments]...

This post originally appeared on Marketplace Advertiser, Alliance CRE Advisor's Blog and is republished with permission. Find out how to syndicate your content with theBrokerList. Real estate assets are graded into three classes: Class A, Class B and Class C. They are aimed at aiding property investors in deciding what specific properties will fit into their overall investment strategy and goals. The letters are assigned to properties after considering a combination of factors including the following: Location of the property, rental income, tenant income levels, growth prospects, the age of the property appreciation, and amenities. Each grade represents a certain level of risk as well as potential return. As an investor, it is essential to consider a property’s class because it helps them recognize how each property fits within their investment strategy, level of risk involved, and which risks they are willing to accept in order to achieve those returns. Class A Properties A Class A property is generally a luxury property that is either newly constructed or less than ten years old. A property that has significantly been remodelled or renovated within the past decade can also be classified under class A. High-quality construction, gated entrances and manicured landscaping are some of the exquisite features of Class A properties. Class A multifamily properties fetch higher rents than both B and C class properties. This...

This post originally appeared on Tenant Rep LA's Blog and is republished with permission. Find out how to syndicate your content with theBrokerList. One of the first questions I get from a client prospect is “how much do you charge?” I explain that my brokerage doesn’t charge the client anything…we participate in the commission paid by the landlord…then I hear a big sigh of relief “Phew” The landlord is more apt to return calls to the tenant rep than if you try and call them directly. A busy tenant rep will know all the landlords and their brokers and chances are be working on another deal with them. Tenant reps have all the resources to find you the perfect office space including complete listings, off-market options and industry relationships. They will take the time to look through all and only send you options that best suit your needs. Look for a firm and broker who exclusively represents tenants and understands your industry. They are only working for you and there’s never a conflict of interest. Leasing commercial space can be complicated and negotiations can become lengthy. The tenant rep is your advocate and will be by your side for the entire process. Tenant reps know the market and will analyze all available options, so you’ll never overpay. Please give me a call at 310-487-2982 or nina@tenantrepla.com RSS Feed provided by theBrokerList Blog - theBrokerList for commercial real estate brokers (cre) and 5 REASONS TO HIRE A TENANT...

This post originally appeared on Beck Partners' Blog and is republished with permission. Find out how to syndicate your content with theBrokerList. Florida’s law, CS/HB 107: Wireless Communications While Driving, goes into effect July 1, 2019. This new law allows law enforcement to pull over citizens who are using a wireless communications device while driving. The burden of proving a driver was utilizing a wireless communications device while driving falls on the law enforcement officer and citizens are not legally required to hand over their cell phones to an officer. Drivers who are talking on a phone with the phone at their ear while driving through a school crossing, school zone or work zone are also subject to a warning or fine. Safeco Insurance – one of Beck’s auto insurance carriers – provided us with their position on this new law: This violation would be classified as an “all other-minor moving violation”.  These violations are surcharged. Contact our insurance experts today to learn more about this new law and how it will affect you. View the original press release from Governor Ron DeSantis’ office below: Governor Ron DeSantis Signs CS/HB 107: Wireless Communications While Driving Sarasota, Fla. – Today, Governor Ron DeSantis signed CS/HB 107: Wireless Communications While Driving. The law authorizes the enforcement of texting while driving as a primary offense. Additionally, the bill specifies that a person may...

This post originally appeared on tBL member Lynn Drake's blog Compass-Commercial Blog | Expert Commercial Leasing Advice and is republished with permission. Find out how to syndicate your content with theBrokerList. I often get this question on leasing and buying buildings. No matter which side you are on, you will convince yourself you are right. The issue with buying a building is that sometimes the buyer paid to much and can’t afford to sell the building for less. Many people who aren’t professional landlords will believe their building is worth more than the rest of the buildings on the street just because they made a few changes to the space.Once I wanted to buy a building and I knew the buyer had the building listed for $100,000 more than what it would appraise for. I wrote the offer with a sales price based on their asking price with the contingency that if it appraised for less than the agreed upon price, the lower price would become the sales price. They wouldn’t take the offer and held onto the building for two years until the value went up enough to cover what they thought it was worth. Their listing agent ended up giving them the listing back as it was impossible to get them to understand the market. RSS Feed provided by theBrokerList Blog -...

This post originally appeared on tBL Marketplace Partner's, RealNex blog RealNex Media Center Blog and is republished with permission. Find out how to syndicate your content with theBrokerList. CCIM Technologies subscribes to RealNex MarketEdge, for their 13,000+ Premium Subscribers and will deploy RealNex’s MP Exchange, a hosted commercial listing site for their global community. Stafford, TX – June 19, 2019 – RealNex, a commercial real estate technology company, today announced an extended and expanded agreement with CCIM Technologies Inc., a wholly owned subsidiary of the CCIM Institute. The agreement provides, as a member benefit, all CCIM Technologies’ 9,000+ Premium Subscribers access to RealNex MarketEdge, a powerful financial analysis, presentation and marketing solution.  RealNex will also host its MP Exchange, a commercial property listing and search solution, for the CCIM community to transact business.  “RealNex is delighted to advance our relationship with the CCIMs around the world. We have enjoyed a growing relationship with them since our inception and this new agreement allows us to provide even more value and benefit. Principal objectives of this partnership are to increase members’ efficiency, effectiveness as well as to eliminate the thousands of dollars being spent on a host of other solutions which are no longer needed.”, noted RealNex Chairman Mark Kingston. “While our members have enjoyed and benefitted from the RealNex relationship over the past several years, we...

My husband and I recently inherited my mothers home. We need to buy my brother out of his share of the house, so we hired a home appraiser. The woman has been rather flippant, and after a month of waiting for her, she said she gave it to our lawyer two weeks ago. This bothers me for a few reasons, the lawyer had nothing to do with this, the will had already been through probate, but also she never gave us any information or even told us it was completed. I emailed her this evening asking for more information and she just said “the real estate value of your home is x”. Because I’m not familiar with any of this, should we actually be getting a report? What should it list? I paid this woman $400, and for that I was hoping I would be getting slightly more than a one sentence email. submitted by /u/persephonenyc [link] [comments]...

I currently live in Crown Heights and I am thinking about buying a condo here. A few questions for the hivemind: 1) People that are familiar with NYC: where would you recommend. It seems like I can get reasonably good deals in Bushwick. Is there something about Bushwick I should be concerned about? ​ 2) In terms of dealing with HOAs and maintenance fees, is it better to buy a unit in a bigger building or a small building (like 5-10 units). ​ 3) Is there any way to find "fixer upper" condos in NYC? It seems like that isn't an option unless you want to buy in a dilapidated building where your unit is the only nice one. ​ 4) Anything else I should know? ​ Thanks in advance! submitted by /u/Bountyperson [link] [comments]...

Short story, I'll have 100k after the sale and owe 100k on another rental. The rental with a loan costs 1000 a month for everything and rents for 1600. It is an FHA loan from 2013 at 3.75%, still paying pmi from my 3% down payment.. submitted by /u/atlnw [link] [comments]...

This post originally appeared on Marketplace Advertiser, QuantumListing Blog and is republished with permission. Find out how to syndicate your content with theBrokerList. Whether you are in an Empire State of Mind or a New York State of Mind, QuantumListing has you covered. You can search all of our members New York listings for free. New York City is the home of over eight professional sports teams and the inspiration for countless songs, as well as home to countless national and international corporations. For professionals and businesses of all sizes, New York is the place to be. With the constant increase in demand for commercial space, developers work hard to keep up with the supply. The latest example is the famous and record development of Hudson Yards. The recent development sits on 28 acres and contains a multitude of different real estate types including residential, retail, office, hospitality and more.  The magnitude of the commercial real estate market in New York City is reflected on QuantumListing.com. QuantumListing currently contains more than 2.5 million square feet of commercial real estate for sale and lease in New York City alone. Out of the 2.5+ million square feet, over 1.4 million square feet of commercial space is for sale, while approximately 990,000 square feet is for lease.  Let us take a further dive on the commercial space available in...

This post originally appeared on Southpace Blog and is republished with permission. Find out how to syndicate your content with theBrokerList. MACARONI LOFTS PRE-SALES • Estimated completion date is Summer 2020 • Residential units will be available for pre-sale July 1st • 6,000 SF ground floor commercial space available Another development in the Parkside District is moving forward! Kathy Okrongley, New Ideal Lofts developer, will be leading the redevelopment of the abandoned warehouse at the corner of 4th Avenue South and 14th Street. Macaroni Lofts will consist of 35 residential units ranging from 347 to 1,750 square feet in addition to 6,000 square feet of ground floor commercial space. The Parkside District is experiencing a complete metamorphosis with nearly 1,000 apartment units planned for completion in the next five years, in addition to hotels, office space, and retail. Until now, the district has been slow moving in growth since the opening of Railroad Park in 2010 and Regions Field in 2013. This district’s catalyst comes from the expansion of UAB’s campus and the growing need for residential space downtown. The Macaroni Lofts sits just one block away from Regions Field, home of the MiLB Birmingham Baron’s, and within three blocks from UAB’s campus, Children’s of Alabama, and Railroad Park. What’s unique about the Macaroni Lofts is that these residential units are for purchase unlike the majority (or...

Hi guys. I just moved into a rental with 3 other people. I took the basement bedroom. We were supposed to move in today but when I got there, the baseboard was damp with obvious signs of mold. I also realized that without the basement having an egress window, it's not up to code. They are sending out a contractor today. It seems like he is only going to replace the baseboard and add downspout extensions. It seems like a bandaid on a bigger issue. I expect there's a lot of mold that isn't visible that would need to be remedied. I highly doubt the landlord would go through a full mold remediation. That doesn't change the fact that water may still keep coming in. It's not even the wettest part of the year right now. What's my best course of action here? submitted by /u/Ornitorrrinco [link] [comments]...

This post originally appeared on tBL member Joshua Lyon's blog Joshua Lyons Marketing Blog and is republished with permission. Find out how to syndicate your content with theBrokerList. Website security becomes more and more important each day. Technology is constantly improving, which means it’s becoming easier to hack into websites and steal valuable information. The great news is that there are many options for website owners and internet users to protect themselves against cyber attacks. This blog post will tell you what you need to know about website security and how to protect yourself from cyber attacks. Before we cover the many different forms of protection you can use for your website, we need to consider why you should protect your website in the first place. Website owners who become victims of computer hacking may experience consequences on their website. Websites are very valuable, and a computer hacker will take advantage if they come across your website passwords. This is why it is very important to secure your computer against spam. If you come across a website that has clearly fallen victim to malware, and is spamming you, you should report it to Google immediately to protect other website users from malware. The CAN-SPAM Act of 2003 The Controlling the Assault of Non-Solicited Pornography and Marketing Act of 2003 (CAN-SPAM) has made several forms of spam...

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