Blog - Michael McVinney
Contact Michael McVinney, a NY licensed Real Estate Broker. Michael McVinney is also licensed in PA.
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How do you think the next downturn will pan out? No need at all to write out specific predictions for timing and specific markets, but I am curious what the "narrative" might be like. As someone who was too young to invest in 2006/2007 (I bought my first rental in 2013), I'm curious what some of the older investors here think might happen. submitted by /u/ospreyintokyo [link] [comments]...

Hey all- question for you seasoned real estate pros. My mom is selling her home in NY state. She got a pretty good all cash offer and accepted. Buyer put down a 1k deposit. Buyer wanted a 30 day close, which would put closing date at July 27th, but mom wanted a bit more time- but everything was signed. Problem? This all happened two weeks ago and the buyer has since gone radio silent. Their agent hasn’t heard from them and can’t reach them. No inspections have been scheduled. What gives? Anyone ever experienced this? Her agent says they’ve never been in this situation. How long does she have to wait until she can accept a different offer without penalty? Many thanks. submitted by /u/hmm_itsamiracle [link] [comments]...

Hi all, What’s the best strategy with a pre-approval letter? I’m in NJ if that matters I think I can be pre approved for an amount that’s way above my budget, probably ~1.1MM. My budget is $850k. But who knows, I might find a house for even less than that that I like, let’s say $750k. Do I ask the bank for a pre-approval letter for the max of my budget? Do I get one for the max that the bank will lend? Could it hurt in negotiations when you have a pre approval letter for $850k but you put in a $700k offer? The seller will then know that I’m actually able to pay more. Won’t this influence their counter offers? Appreciate any insight on this. Thanks. submitted by /u/watermelona [link] [comments]...

This post originally appeared on Beck Partners' Blog and is republished with permission. Find out how to syndicate your content with theBrokerList. There is a lot of misconception when it comes to financially underwriting real estate assets. Due to this, investors often end up making gross mistakes. That’s why it’s important to identify the various operating and capital expenses, as well as the differences between the two. Today, we will dive into your five biggest operating expenses for multifamily investments and some common tips we have for handling them. Operating Expenses 101 There are a lot of different operating expenses. Each differs depending on what type of assets you’re looking at, which we will dive into soon. Before, let’s define interest expenses and why they would not be considered an operating expense. “An interest expense is the cost incurred by an entity for borrowed funds,” per Investopedia. “It represents interest payable on any borrowings – bonds, loans, convertible debt or lines of credit.” For many investors, the most common type of interest expense is mortgages. Operating expenses are not borrowed funds. They relate to the core operations of a business, such as the ones we outline below. Your interest expense, as well as things like depreciation or amortization, are non-operating expenses and should not be part of your overall multifamily investment operational costs. Instead, these five expenses would...

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.   The process of sales prospecting changes from era to era, and the dawn of the Digital Age is upon us. Technology acts as a major influencer in deciding how professionals carry out client-based interactions, and how they utilize these relationships to create more sales funnel leads. CRE is an incredibly client-centric industry, and proper professional relationships are a pivotal aspect of the business at large. CRE agents and brokers need to be able to sniff out leads, pursue them, and navigate through any potential business transactions. In order to do this, they need to harness the power of technology and utilize it to its full advantage. Here are 3 strategies for efficient and ethical lead prospecting within the framework of our increasingly digital society. Effective Internet Searches Research is the first step for any successful hunt for leads. Fortunately, there is one thing which today’s world has nearly no limit to – information. The web is teeming with a limitless supply of data which is simply waiting to be discovered. However, this massive collection can quickly become overwhelming. The trick lies in being able to navigate through the internet to find, analyze, and use only relevant pieces of information....

This post originally appeared on Marketplace Advertiser, QuantumListing Blog and is republished with permission. Find out how to syndicate your content with theBrokerList. Yes, the Rolling Stones are touring again, and Jumpin’ Jack Flash is undoubtedly a classic, but that’s not what this post is about. Part of our mission at QuantumListing is to create incredible value for our customers. One of the many ways we do this is by adding new features without raising our prices. And, we’ve done it again! We’re adding a unique email service to our array of features. Email marketing is one of the most efficient and cost-effective ways to reach your customers and colleagues. According to the MailChimp website, email marketing on average yields a $38 return for every dollar spent. That seems like a pretty smart investment, doesn’t it? There are a lot of great services that facilitate email blasts, including Constant Contact, Robly, and the aforementioned MailChimp. We’ve tried and used them, and they are indeed effective. Additionally, there are various dedicated commercial real estate emailing services that will send emails to their proprietary lists, and you can choose whether you want to have them send those emails to particular geographic areas or nationwide. In my brokerage company, Perlmutter Properties, we get hundreds and hundreds of these emails each week. Furthermore, some of the other commercial real estate listing...

My brother is a sole proprietor, been in business for 4 years and will be going for a mortgage next year. He did his accounting last year by himself and his accountant who he went to school with him, saw him the other day and told him he needs an accountant in order to buy a home being self-employed. Then he was told by some else the banks will go by Line 31 of Schedule C. Does he really need an accountant when he buys a home? submitted by /u/tmelinda [link] [comments]...

Hopefully someone can help me here. I am looking to purchase a second home in Louisiana on the river. The problem is that it is only accessible by boat. I am having a hard time finding someone to provide financing for me due to the fact it cannot be accessed by a car/truck. Has anyone ever purchased something like this ? If so what did you do? submitted by /u/PTech218 [link] [comments]...

Hi all, sorry if this is not the right place to ask and start such discussion. If so, please, suggest me where should be the right community to ask this kind of questions. So, one year ago, I've bought a condo which had a Special Assessment for window replacement. The condo was built almost 40 years ago and they've decided that the window replacement was needed for the entire condo to improve energy efficiency, sound deadening and to replace some foggy IGUs (I guess this is the right term). By that time, the Special Assessment would be paid by the seller and the total amount for my unit was $37k USD. The whole unit was sold for $450k USD, just to compare the amounts. So, fast forward one year, the HOA said that the initial estimate was not enough for the project and they're trying now to approve a second Special Assessment for the same amount as the previous one. That means, another $37k for my unit, totalling $74k for the project. Some of the arguments for an increase on the budget is that there are few available contractors in Seattle area willing to do the work due to the high demand of work. Also, they said that the sidings should be replaced as well because some areas can be in poor...

Just a rant-- So my brother + wife are looking for a house. We find one, FSBO, of course. ugh. The owner is adamant that the house-- which is a completely renovated 2/1-- is worth $130k. I show him comps that show completely renovated 3/1 are worth $130k. A completely done up 2/1 in the area is more like $110k. This house has a large lot, another 2/1 with a large lot sold for $115k in February. My brother and wife decided to offer $115k. Owner won't budge. He mentioned that he has been trying to sell the house since March in discussions and I can see that he bought the house for $75k (then fixed it up) in the past year, so he doubles down and raises the price even higher. The reason why my brother + wife were willing to go with $115 is because it is on the street behind my parents. (the owner doesn't know this) We are walking from the offer, but the owner keeps calling me with the higher offer and I keep telling him, "no." At a recent neighborhood event (that he didn't recognize me as the agent), he mentioned that he is way in over his head and won't be able to pay the tax bill. So "please send him a buyer." Some people...

My house is currently for sale and I noticed on Zillow, it says there is a $200/mo HOA fee. The house is not in a HOA, so obviously there are no fees. I went to edit the info on Zillow but, since the house is listed, it says my agent has to edit the info. My realtor said he can't change it and completely brushed it off like it was no big deal. Whenever I've searched for homes as a buyer, I ALWAYS check the filter box for "no HOA", so I think I'm definitely missing a ton of potential buyers through this error. I emailed Zillow's customer support explaining all of this a few weeks ago, and have received no reply. Question is, is my realtor really unable to edit this info? Any suggestions? submitted by /u/FoxFact2074 [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. Search engine optimization, or SEO, is a very popular topic amongst website owners. Many tend to set their focus on practicing on-site SEO (the strategies used on a website), rather than off-site SEO. One of the most important tactics of off-site SEO is creating backlinks. This blog post is going to explain what exactly backlinks are and how to properly build them. Backlinks are links on other websites that lead to your website, and the process of creating them is an off-site SEO tactic called “backlink building.” Search engines take the number and quality of backlinks a website has into consideration when determining how to rank a website in their search results. If you are trying to practice SEO with your marketing strategy, you need to build your website’s backlinks to ensure success. Contrary to popular belief, you shouldn’t want all of your backlinks to come from third-party blogging websites. Search engines like Google, Yahoo!, and Bing look at the variety of backlinks that lead to your website. Having a variety of backlink sources will greatly help your rankings because it’s an indicator of quality to search engines. You have to be very careful of which websites you...

My realtor underpriced my house. He convinced me I'd be lucky to get what we listed it for, and then advised me to accept the first offer we got, even before the open house because he told me he wasn't sure how many more we'd get. He was out of town on vacation that weekend so another agent from his office handled things. The open house was packed. A neighbor told me that they heard a lot of people wondering out loud why the house was priced so low. ​ We got 15 backup offers, many of them over listing price, one of them $30k over list price and another that had a condition to make it $1000 more than the next highest offer, not to exceed $50k over list price. We could have had a bidding war on our hands had we waited until after the open house to consider offers. ​ The realtor tried to downplay the other offers, saying that some of them weren't serious and that people always try to lower the price based upon the home inspection. That may be true, but $30-$50k is a lot of room to come down in price and still sell for thousands more than we did. ​ Realtor also downplayed the offers by saying that the price is still dependant on...

I’m selling my house in California with a scheduled closing of July 25. Buyer agent is asking if I would be willing to close earlier than that. Would there be any down fall to this. I have already moved out and presented the house empty. I feel like this would be good for me but wanted to see if there would be any reasons not to. Thanks in advance. Edit: Thanks everyone. I went ahead and let my realtor know I have no problems moving the closing date up. Hopefully I can get my money enough days early to pay off the month’s CC without paying interest for the month and save a few extra bucks there too. submitted by /u/SeriousMonkey2019 [link] [comments]...

My wife and I recently viewed a home that we liked, but didn't love. We thought we would put in an offer slightly below asking, which they predictably countered for full asking price plus closing. We told our agent that we wanted to retract our offer as we didn't want to feel like we were overpaying for a home we didn't love. However our agent and banker continued to work on it through the night and sent us a long email why it would work financially because the price difference wasn't that big. It feels like we're being pressured to accept the counter offer when we already expressed that we weren't interested. Should we drop our agent or are we overreacting? submitted by /u/ronbog [link] [comments]...

Hello. First time home buyers. We closed on our house in June and gave the sellers free occupancy through July 31st (hot market). The seller recently told me their new construction is delayed and they may need to push things back. What can we do if they decide to stay past the date? Can we charge them rent? Our contract just states that if they stay past the 31st they need to pay double the occupancy rate...

After seeing photos of the California earthquakes where a road was moved 20 feet along a fault line, I want to know what happens to real estate boundaries when entire neighborhoods shift locations due to earthquake? submitted by /u/Dingleberriest [link] [comments]...

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.marketingrealestate.biz Commercial real estate deals take time to complete – generally, a lot longer than buying your family’s residence. Best case – but rarely? The deal is completed in thirty to forty-five days. More typically? Seasons change with no conclusion to the transaction. What begins with a simple framework of search, locate, negotiate, contract, execute, and close – many times morphs into a mire of minutiae. Layer in some professional advisors – lawyers, bankers, environmental engineers, accountants, appraisers, building inspectors, contractors and commercial real estate agents – who all must have their say – and the complexity begins. What – you may ask – takes so long? Indulge me as I describe a few areas where transaction traffic gets pinched akin to your commute on the 405. Search. Available inventory is at an all-time low. 98 of every 100 industrial buildings is occupied. This is great for owners – but if you’re looking for a place to re-locate your business – you are scrambling to find the right spot. So, if you could simply run out and check a half a dozen sites and choose the best – awesome! The reality is you may wait months...

Hello! We are buying a lot and looking to build on it. We are in the Midlands of SC and are curious if anyone out there can give me a ballpark range of cost per SF for homes in this area before we go too far down this path. We will be building (or buying) something in the 3000-3500 sf range and will be looking for decent amenities. I know that does not provide a ton of context but I am trying to make sure this makes sense. I am thinking it is going to be between 110 and 130 a SF. Does that seem accurate? submitted by /u/hrguyinSC [link] [comments]...

Listed our house yesterday (Thursday), with a contingency that we need to find suitable housing. I feel like this is a pretty common practice, but we're still pretty nervous about the whole process. Should we be? We feel like our house will sell pretty quickly, there have already been a bunch of showings and the open house is Sunday. Any advice you may have about selling a home would be greatly appreciated! submitted by /u/_larrybird [link] [comments]...

Hey all, ​ I am a relatively new agent and am representing some buyers in this situation. The sellers like our initial offer, but want to have radon testing for information only. ​ Is this a big red flag, or relatively common? How should I advise my clients? ​ Thank you in advance for your help! submitted by /u/ForHondor [link] [comments]...

I sometimes catch flak in this sub for suggesting that people call the managing broker of a real estate brokerage and I wanted to take a minute to explain their function. For the purposes of this post I’m going to abbreviate ‘managing broker’ to ‘broker’ and refer to the ‘realtor/agent’ simply as ‘agent.’ I invite other industry pros to weigh in if my experience differs from theirs because my knowledge is going to be specific to my market. ——————— An agent is a licensee who works as an independent contractor or 1099 employee under the supervision of a broker. (There are situations in which a licensee works as a W2 employee but usually those are administrative support positions.) We have to ‘hang our shingle’ under a broker in order to work so we choose the brokerage before we are even licensed most of the time because the testing agency has to know where to send your license if you pass. Agents don’t really interview for a ‘job’ at a brokerage; rather, we interview the broker to see if we want to work for them or not. The decision is usually based on three primary factors: the overall reputation of the brand, resources offered (office space, software, advertising, leads, etc.), and how much we have to pay to use the brand and...

We've been working with this mortgage broker for a few weeks now and I was finally sent the loan application yesterday but it reflects a higher interest rate, 3.99, than what she had led me to believe I was already locked in at(3.75). When I question her about this she states that she was waiting on the contract from my realtor to lock in the rate and as of yesterday the rate was 4.25. When I asked how I was given a 3.99 rate then, she said they had to apply point to lower the rate from 4.25 to 3.99. When I reviewed the loan application, under origination fees I see a line it under the origination charge stated, "0.625% of Loan Amount(points)". This in turn increased my closing costs by $1600. I expressed to my realtor the situation and the broker is now not answering my realtor calls or texts, and the broker is urging me to sign the loan and then revisions can be made before closing. We close on the 31st, and I really feel like the mortgage broker is trying to leverage my time constraint against me. submitted by /u/eb86 [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: Letters work. Why? Because none of your competitors are using them! When you write the letter correctly, they will get read, and you will get known. I’m not talking about flyers or just leased/sold letters (I’m assuming you’re already doing those). I’m talking about writing letters that transform you from a commodity to a valuable resource. In this video, I explain the second section of the Massimo Presence Pyramid and show you how to transform your business from being a commodity to being known as a valuable resource to your prospects. Here’s what we cover: 1: Your physical presence — the second element of the Massimo Presence Pyramid 2: How to differentiate yourself from your competitors 3: Why letters work (not just the just leased/sold letters) 4: Why you need to identify the top 100 people that have the greatest impact on your success 5: Who you should be sending letters to each week Resources: Want to improve your personal presence? Check out last week’s Massimo Minute here Want access to our comprehensive library of proven strategies? Schedule a call here Let’s move forward! Rod Santomassimo How to stand out from your CRE competitors 4.5 (90%) 2 votes   RSS Feed provided by theBrokerList Blog - theBrokerList for commercial real estate brokers (cre) and How to...

Websites are one of the best marketing tools out there and they provide many benefits. One of those benefits is lead generation. In this blog post, you will learn some of the best practices for capturing leads through your website. Capturing Leads Through Your Website There are many practices businesses can use to generate leads. This would be an incredibly long blog post if we listed all of the possible ways to generate leads on a website. Below are seven of the most common best practices that tend to show excellent results. 1. Call-to-Action Buttons Having call-to-action buttons on your website is very important for generating leads. This will encourage your website visitors to take the next step down your sales funnel. If someone likes what they see on your website, but they can’t figure out how to get into your sales funnel, that is a problem. Today, people like to act fast and tend to move on quickly if they can’t find what they need. Don’t miss out on capturing leads simply because your website visitors are confused and unsure where to go next. Point them in the right direction with a call-to-action button. With most website builders, you can choose what your call-to-action buttons say. You can customize the buttons based on the type of lead you wish to generate. For example, if you are...

I left a breakfast dish in the sink and a Kleenex in the bathroom trash can when I left for work. It was everything I could imagine and more. submitted by /u/PsypherPanda [link] [comments]...

There are a few articles on this, some behind paywalls. I am curious what your thoughts are on this matter. I have also found the source filing and provided information so you can search and interpret it yourself. ​ A few key details TLDR: The claims state that allegedly Compass engaged in illegal and unfair practices, such as: collusive solicitation to engage in price fixing intentional circumvention of non-compete clauses for corporate employees hostile takeovers with predatory pricing false libelous claims from recruiters to agents that Realogy is about to go bankrupt unauthorized access to Realogy's proprietary databases such as LEAR** getting poached agents to change Realogy listings as 'sold' before leaving for Compass, and then relisting those same homes on Compass's site after switching.** ​ https://therealdeal.com/national/2019/07/10/realogy-slams-compass-with-explosive-suit/ https://www.wsj.com/articles/compass-engaged-in-illegal-activity-realogy-lawsuit-alleges-11562784434 https://www.housingwire.com/articles/49529-realogy-suing-compass-for-unfair-business-practices-illegal-schemes https://www.inman.com/2019/07/10/breaking-realogy-sues-compass/ https://therealdeal.com/national/2019/07/11/the-juiciest-claims-in-the-realogy-v-compass-lawsuit/ ​ Obviously there are people here from Compass, Realogy, Independent Brokers that have been solicited by Compass, and various other competing brokerages. Do you have any first hand experience with Compass? Were they positive or negative? What's your take on the matter? Do any of these claims hold water? *Reformatted TLDR for Readability ​ - Tangentially related, but this is an interesting analysis of Compass: https://www.mikedp.com/articles/2019/5/1/inside-compass-part-1-growth-strategies ​ Edit: I now have a copy of the filing, so I am going to fill in some additional details: The Lawsuit...

Just need some general guidance on some odd issues we have had with the seller. I do not want to be a difficult buyer and sometimes the fact that the process is like a game of telephone is maddening. We found a home we absolutely loved but at first it was overpriced for the area by about 30k. We decided that we wouldn't do a tour because it was overpriced and looked elsewhere. Then it dropped about 12k and we thought maybe it would be worth that extra 12k to us since we were not looking to move for at least 10 years. The bones of the house was great but it hadn't been updated with appliances or other things since 2000. Our realtor said we should bid what it was worth to us and we did end up bidding under at 150k. The seller counter offered by reducing it 100 dollars. We counter offered again 155k, which our realtor thinks is about 10 over current resell value for the town we are in. The seller didnt reply so we decided to move on. Then 2 weeks ago the house was dropped to 154k. We were confused why he wouldnt just accept the offer we gave that was higher then that but we resubmitted the 155k offer anyway. ...

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 “series” breaking down commercial development costs, let’s take a closer look at the soft costs associated with the commercial real estate development process.   What are Soft Costs? Soft costs are those that are not directly related to the physical construction of the building. Many of these costs are incurred during the early stages of the commercial development process and pre-cursors to the construction phase. These costs are typically less noticeable than hard costs because they don’t apply to tangible, physical elements of the project. However, without adequately addressing the elements in the soft cost category, there would be no commercial development project. Or, commercial development/construction costs may end up much higher. For example, proper design and engineering can help to lower a project’s hard costs. With that in mind, let’s take a closer look at some of the soft costs associated with new commercial developments. A Closer Look at Soft Costs Here is a list of some common construction soft cost items.   Architectural FeesThese fees typically include feasibility studies, schematic design, design development, construction documents, and construction administration. Engineering FeesMost projects will require a number of engineers to adequately plan all of the elements of a project. Engineers such as mechanical, plumbing, electrical, structural,...

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. Similar to the FASB and IASB, the Governmental Accounting Standards Board released guidance updating the accounting for lease agreements. GASB No. 87, Leases, is effective for applicable governmental entities for reporting periods that begin subsequent to December 15, 2019. Click here to read our blog about how best to prepare for the GASB 87 effective date. Understanding the current guidance The new requirements should enhance transparency and comparability regarding the reporting for lease financing arrangements. Similar to the new FASB and IASB guidance, the new GASB guidance will require lessees to record leased assets and the associated liabilities on the Statement of Financial Position. This article will provide an illustrative, detailed example of the accounting for a lease transaction under the accounting methods available under the currently applicable guidance of GASB 13. We thought it would be helpful to address existing GASB guidance, and in a subsequent post, we will address an example transaction in accordance with GASB 87. The scope of GASB 13 GASB 13, “Accounting for Operating Leases with Scheduled Rent Increases,” provides accounting guidance for agreements that contain fixed increases (i.e. increases are contractual and are not driven by future contingent events). This guidance indicates that the...

Has anybody in this sub ever purchased property in Central America or south east Asia? I am from Canada and strongly considering starting a hostel or some type of Airbnb in one of these places. What hoops did you have to jump through in order to purchase/run a business? We would ideally want something where I would not need financing. submitted by /u/onlynamenottaken7 [link] [comments]...

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. Last week, more than 7,000 professionals from a diverse group of industries including communications, government, military, public safety, utility, transportation and business enterprise gathered at the 2019 International Wireless Communications Expo (IWCE) in Las Vegas. The annual event, which is geared towards critical communications technology professionals, gives attendees an opportunity to see the newest products and services in one place as well as a chance to connect with peers. IWCE also offers educational sessions taught by industry professionals about the latest topics. Public safety was among the many topics covered during IWCE. John Foley, general manager of the Safer Buildings Coalition, moderated the “Solving the Problem of In-Building Connectivity” panel. The discussion explored the problems of poor connectivity and communications inside a building can cause in regards to people’s lives and property—especially during an emergency. The panel featured twin brothers Detective Casey Clarkson and Lieutenant Brandon Clarkson of the Las Vegas Metropolitan Police Department. They were both active participants during the mass shooting at Mandalay Bay in Las Vegas last October—one managed communications at the 911 center and the other was wounded on the concert grounds. The Clarksons discussed how communication issues made handling the situation that much more difficult....

I am in the process of purchasing my first home using a VA backed loan, and after a few weeks of searching found the right home at the right price and I pretty much instantly knew it was perfect. My agent helped me write up an offer and we wrote up what I thought was a PRETTY fair offer. We asked for 3% off the asking price as it was honestly a bit overpriced (about 8-10% over) and asked for 3% ($8,000) in concessions. They said they'd like to keep their washer and dryer so we said they could keep it. I sent it in thinking I made a pretty fair offer considering: The seller was asking a bit high, but not crazy That they don't live in the home anymore full time (vacation home) They have had it on the market for a year now, switching realtors three times They haven't gotten a single offer (It's a bit out of the way, and they were originally asking for nearly 20% over the value) The most a house has sold in their subdivision for is 10% below what they are asking The response we got was: Bringing the price back to asking Double the amount for earnest money from the 1,000 I offered to 2,000...

I am not the homeowner, I'm a 19 year old college student and I live with my parents. I posted on here (I think it was this sub) a couple months ago asking for advice on what can be done about my parent's house in pre foreclosure. The answer I got was that it's not too late, my dad (homeowner) would just have to call the bank and work with them to reach a solution. Well, the time is here, nothing has been done, and my house is going to be auctioned off in a week. The what's and why's aren't important I suppose, and I'm not 100% sure what's going on, but I do know that the house is going to be auctioned off on July 16th, and my dad is just barely trying to fix it TODAY. I'm just wondering if anyone knows if it can be fixed in such a short period of time, or if we're just screwed. submitted by /u/Throwaway2872046 [link] [comments]...

Hello reddit! My wife and I will be moving to another country within the next 4-6 weeks. With this move we're going to need to sell our home. We have a good relationship with our neighbor, who does landscaping work around the town. The neighbor's son wants to consider buying the home. We would love to sell to them, and figure it could make things faster and easier (as they would be buying the home "as is"). ​ Any suggestions - things to look out for, things to know, things to do prior to allowing the sale to go through? Any help would be greatly appreciated, going to consult with some folks - but figured people here may have good advice. ​ Thanks! submitted by /u/SpyderDM [link] [comments]...

This sub was such a huge help to me while my husband and I bought a home, I thought I would type up a timeline/our story of being basically our first time buying a home and getting a mortgage. Hopefully someone will find it helpful. Approximately a year ago, we began the process of selling our 20 year old double wide mobile home. Mobile homes are awful and selling them is not easy. Ours was paid off and we were tired of our hot water heater pilot blowing out, pipes freezing, an a/c that was so loud and right in our living room, etc. We ended up selling for less than $10000, but felt such relief. It needed a lot of work (flooring, one ceiling panel had been destroyed by a water leak, hot water heater access door was falling apart) and we didn't want to put anything into it because we knew we wouldn't have any return on our investment. We moved into a new construction townhome that we rented. [Spoiler alert -- I really struggled with the move. And the other half of our duplex is rented by people who don't seem to have any respect for their house, play loud music at all hours and also have a pit bull that tries to attack my dachshund through the fence.]...

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 investments are among the most popular in any kind of investment portfolio. It is a well-known fact that property values do not go down unless there are catastrophic economic conditions. Simply put, investors can rely on their property investments to earn consistent returns. However, this does not mean property is always a safe bet. Investors need to understand when and where they can create an exit strategy. This is important because prices are always fluctuating and implementing predictive market investment policies are the best way to derive maximum profit for investments. Broadly speaking, the entire ambit of property investment is massive. So, it is impossible to provide insights into every niche. However, there are some key features which are shared by all niches and they can be implemented with some modification across the board. Cardinal Rules for Making Profitable Real Estate Investments 1. Buy Low, Rent Smart, Sell High This is the most elementary and also the most widely applicable bit of advice for all kinds of real estate investors. Buying when rates are down is the best way to enter the market. Usually, the real estate market sees periodic bullish and bearish phases. In these conditions, it is important to...

This post originally appeared on Buildout's Blog and is republished with permission. Find out how to syndicate your content with theBrokerList. As we called out in our latest tech news roundup post, Amazon recently announced it was buying the mesh WiFi router company eero. This new acquisition follows Amazon’s buyouts of smart doorbell maker Ring in 2018 and smart security camera company (and Nest rival) Blink in 2017. What’s happening? By buying each of these systems, Amazon is showing its dedication to building a completely connected, smart home experience. eero uses multiple access points to “blanket an entire home or apartment with a strong Wi-Fi signal.” Ring video doorbells and Blink security cameras can connect with Amazon’s virtual assistant Alexa, and their acquisitions are tied to Amazon Key in-home delivery. When combined with its ventures into the brick-and-mortar retail world through its own stores and Whole Foods, along with its new HQ2 development, Amazon’s wide array of smart tech connections means big things for the CRE industry, particularly multifamily and office spaces. What does it mean for multifamily and office CRE? Even though today, most people think about smart home devices for their use in single-family homes, these systems will likely soon be mainstays in commercial properties as well. Multifamily, office, and retail tenants will expect to have smart tech available in the properties they want to lease. It should also go...

This post originally appeared on Marketplace Advertiser, Reonomy and is republished with permission. Find out how to syndicate your content with theBrokerList. Table of Contents Opportunity Zone Funds: What is an Opportunity Zone Fund? Finding an Opportunity Zone Fund to Invest In: Self-Certification Finding Opportunity Zone Real Estate with Reonomy Find an Existing Opportunity Zone Fund Opportunity Zone Funds Since the onset of the Opportunity Zone program, one of the tidbits that has always been made clear is that, to make an investment in OZ assets, you must do so through a Qualified Opportunity Zone Fund. What’s less clear, however, is how these funds work, where they are, and how an LLC or company can become a qualified fund. We’ll set out to answer those questions below. What is an Opportunity Zone Fund? Opportunity Zone Funds are an investment vehicle for those that would like to reinvest capital into Opportunity Zone assets in the United States. These funds can be formed as an LLC, corporation, or partnership, and can invest in Opportunity Zones in a few different ways—including real estate or businesses. A Qualified Opportunity Zone Fund must hold, or intend to hold, at least 90% of their assets within Opportunity Zones. Otherwise, those invested will not qualify for the program’s tax benefits. Finding an Opportunity Zone Fund to Invest In Understanding how QOFs work is only the first step. Finding the right fund to invest in can depend...

I am going through an agency to rent out my condo. They put a lock box on the door and have been giving the clients the code to the lock box to expose the key. The neighbor informed me about this. Is this the proper way to rent out my condo? I’ve never heard of this and it makes me wonder how safe this is. I would like your input before I approach the agency about this. submitted by /u/pulgitas [link] [comments]...

Is it common to back out of a contract after inspection? Are you supposed to counter the cost of repair and if they don't accept it, walk away? I'm pretty lenient on minor stuff, I can install GFI outlets and do minor repairs myself but there are a handful of issues I'm not really comfortable with taking on as my own problems that can't be fully assessed without tearing things up, which I can't: 1) Half the electrical in the house apparently doesn't work, including the stove, microwave, all wall heaters and probably other stuff, inspection didn't mention washer/dryer, but every other important thing didn't work so...

Just bought a condo last year in NJ, US. First time home buyer. Long story short: HOA is much higher than comparable ones, ($417 vs $300 - 350 range), how can I fight for a lower one? For details: Initially HOA was $330/month before closing. It went up to $397/month at closing since bank were asking for a higher flood/liability insurance. Recently, another increase came, now it's $417/month. I checked the break downs and no insurance change! It's a building has 5 units(including 1 store, 3 living units, and 1 garage that I don't own), 3 for rent, 1 for sale, and the 1 I just bought. One guy owns 4 of them and I believe he also runs the condo association. I asked why there's a $20 increase and negotiate for a lower HOA , Association tells me price are "what they are". So now it's just me against them :\ , how should I fight back? People telling me join the HOA board but I don't believe in my case there's any. Condo association is running by the owner of this building. I even doubt there's any condo association budget account since I am the only one paying hoa. HOA for Comparable units in our neighbor usually goes in $300 - $350! Side story: I live on the top floor...

This post originally appeared on Marketplace Advertiser, ClientLook and is republished with permission. Find out how to syndicate your content with theBrokerList. Provide Better Client Service With Online Deal Collaboration ClientLook commercial real estate software offers exclusive online deal collaboration capabilities. They’ll help you win business and communicate with your clients in the easiest and most effective way possible – online. This promotes your ability to deliver the best client service of your career. In this previous blog post, we discussed how to win more commercial real estate assignments with ClientLook’s client access portal. With a couple of clicks, you’re able to create an online “war room” for a deal, making it simple to instantly share your activity, updates and documents with your clients in real time. It’s truly two-way collaboration. Be sure to read that article if you haven’t yet as it describes how to invite your clients to collaborate through ClientLook. Real-Time War Room Collaboration Once you invite your client to participate in a deal, what do they see when they log in to ClientLook CRM? Your client will see a special “lite” version of ClientLook customized for your particular deal. They will have access to all the updates you have chosen to share with them, and can both upload and download documents and other files. With no file storage limit, you’re free to share as much...

Hello everyone, I’m looking for some opinions. I purchased a property off market at way below market value recently. The property came with an 18’x36’ in ground pool that wasn’t in the best shape. I managed to get the pool up and running successfully but it’s definitely near the end of the vinyls life span. Now I have two options: 1) Re-Do the vinyl and all of the accessories. This would cost me roughly $8K 2) Have the pool professionally filled in and regraded. Roughly $2K but I would be done with all the maintenance that has come with maintaining a pool. Just looking for opinions on the options and how each would effect the resale value of the property. Thanks. Edit: Maryland submitted by /u/cgrez33 [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. Generally speaking, LinkedIn is a social media platform where you can connect with people all around the world, just like Facebook and Twitter. But unlike these other platforms, LinkedIn specializes in one group of people–professionals. As a result, you can certainly generate leads and sales when you use LinkedIn for marketing. Even among all social media platforms, LinkedIn takes the lead, creating more than 80% of B2B online leads. To reap the fruits of this platform, you have to position yourself and your brand correctly. This isn’t’ so difficult to do as many of LinkedIn’s marketing rules have real-life alternatives. For example, you need to present your business and brand in a way that is attractive to your target market, as you would if you owned a brick and mortar establishment. This guide contains five powerful strategies you can apply to your marketing on LinkedIn. Create Both Corporate and Personal Profiles Since your goal is to market your brand on LinkedIn, you need a LinkedIn profile for your company. But also, it is also a good idea to get profiles for every member of the company, starting with yourself (if you don’t have one already). Operating with a...

So I thought I would try posting this here since it may not be a legal question. I'm new with all of this, so please overlook any ignorance on wording. I also know rights will vary from state to state -- Hoping someone is familiar with Florida easement rights. We own the front portion of the property (12 years now) that has road access. Our neighbors (formerly family members who we purchased the land with, as well as built our homes at the same time - but has since sold) have an easement for ingress and egress to access their property directly behind us. The general warranty deed states, "an easement for ingress and egress is hereby reserved by Grantor and his heirs and assigns over and across the east 40 feet thereof." **(Which I'm not sure why it reads 40 feet?? Seems like alot when our drive way is approx only 15 feet wide! Do our neighbors have certain "rights" to the other 25 ft besides the driveway?) So, our neighbors are using our driveway for their trash pick up (which is absolutely fine) but then leaving their garbage can on our driveway (but it's also next to the road- which I'm assuming is technically county easement/right of way?) for days after (or several days before). We've even had to...

As the topic states I'm trying to understand what tax write offs and deductions you get being a homeowner/mortgage payer. I have read about homestead exemptions but don't think I'd qualify at my salary level (166k, sole breadwinner for now in the family) I understand that your total gross gets lowered since you can exempt something related to your house so they're taxing less total. Can anyone give me a rundown or point me to a good article or two? submitted by /u/PetiePal [link] [comments]...

Location: Boston, MA Situation: 3 unit condo (Unit B, 1, 2). I bought Unit 1 about 1.5 years ago. Was really busy the first year (doing home renovations, wedding etc.) and the second year, when I had a chance to look into condo finances, I realized that Unit 2 was playing the same condo fee as me, even though she has an entire extra floor 700 sq ft (with kitchen, living space, bathroom, laundry) that she rents out to her nephew. On looking into it further, here's what is happening: a. the extra floor is un-permitted, Unit 2 doesn't pay any tax for it b. Unit 2 is refusing to pay condo fee for the extra floor, and claims "it is exclusive use common area". The Master Deed doesn't state it is exclusive use. The Master Deed says it belongs to Unit 2. (But cleverly, something I didn't catch while signing it, the square footage does not include the un-permitted space even though the description says it belongs to Unit 2) c. Unit 2 neither pays tax for this extra 700 sq ft, nor pays condo fees for it d. The existence of the un-permitted space is costing the condo association extra money -- the person living there uses condo water, and also our Master Insurance is higher because of the existence...

A new subdivision that joins mine is constructing new cheaper homes. Will those homes affect the value of mine? Homes in my neighborhood range from $300k-$450k. The new homes range from $180k-$220k. submitted by /u/JuicyJ0081 [link] [comments]...

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. Multiple Enhancements Designed to Drive Productivity Stafford, TX – May 15, 2019 – RealNex, a commercial real estate technology company, today announced the release of its next generation CORE CRM solution. RealNex CORE CRM, goes far beyond traditional Customer Relationship Management (CRM) platforms. Being commercial real estate centric, RealNex Core provides a comprehensive Asset Information Management (AIM™) solution to enable commercial real estate professionals to effectively manage their property inventory, client relationships and deal pipeline more efficiently. “Most CRM platforms are built to sell widgets. To make these systems work for commercial real estate is a complex, expensive and time-consuming process…and in the end they still don’t work the way the industry does. RealNex CORE CRM was built from the ground up as a commercial real estate solution,” noted RealNex CEO Jeffrey Finn, “This latest generation further builds upon the time-tested legacy of our desktop REA platform, to bring its full power and much more to our cloud-based system.”  The latest release boasts a host of new features. Most noteworthy are Timelines, Links, Weblinks and Columns. Timelines automate the workflow management of any repetitive series of events required to complete a process. Once built, a Timeline template can be launched to direct all team members to...

This post originally appeared on Marketplace Advertiser, QuantumListing Blog and is republished with permission. Find out how to syndicate your content with theBrokerList. Andrew Bermudez, Co-Founder and CEO of Digsy was our guest recently on our weekly webinar. His focus was online tools that commercial real estate professionals can use to generate leads without cold calling. This is the second of a two part series that covers these essential tools. In Part 1 of this two-part series, 19 Tools to Generate CRE Leads Online, we already covered two tools provided by Mailchimp, one that finds your best prospects and the other that helps you engage those leads. We continue with another tool provided by Mailchimp. “Of all the people you sent that email to, you will see who is serious” A third Mailchimp feature called Landing Pages allows you to use a lead capture form to collect contact information from highly active users. If you send out a downloadable link (e.g. property brochure, market report, sample letter of intent), you can require that all users input their contact information in order to obtain the file. You may lose some people, but don’t fret. Those who make it are valuable (remember, quality over quantity). Be sure to call these people who are showing an extra effort.  “It’s like spying… without the negative connotation of spying” With DocSend, you can...

I am in the process of refinancing my house with my wife and was asked the standard question “are you or your wife a named party in a lawsuit.” My wife is named in a lawsuit following a car accident 3 years ago, lawsuit has been ongoing for approximately a year now. She was insured and the insurance company is providing her legal counsel. Will this impact our ability to refinance? submitted by /u/itsbs2 [link] [comments]...

Im closing in a few days. Due to some issues with the due diligence (sellers issues), we didn't do an immediate inspection after repairs were completed. Therefore will be doing a final walkthrough/combo inspection. ​ ​ Ive serious doubts one of the issues was fixed completely. They used a handyman which for 90% of the rest was fine. The issue is with the HVAC being a control or electrical issue (we left it up to them to solve). Based on how my inspector and I identified it, I've reason to believe they just ran the HVAC and said no issues. It takes some time (which during an inspection you have) for it to show up. ​ What are my options if we can show this wasn't fixed? Ideally I don't want it to hold up closing; but as they dont want to pay anything to fix anything, so if I force them to use an HVAC tech (probably what it needs) I have a feeling I might have to. submitted by /u/Nemesis651 [link] [comments]...

Our home has been on the market in Southeastern PA since March. We live in an area we like to refer to as Estate Country. Our modest 2 BR is 2+ acres (formerly a tenant house), however, our area is primarily homes valued at 800K to 4 million $$$ with multiple acreage (10-125 acres). Views from the property only face the land (a large sloped yard, a flat wetland and a large field in the back that's adjacent to conserved land.) ​ Yes, we are very close to the road, a country road, separated by a 100-foot cedar fence and a newer fence with a gate across the driveway. Ninety percent of the buyers who came through love the house, but say it's too close to the road. (One guy said he should open a car wash here as it's so close to the road. That business would close in a week.) Not sure if it's primarily a safety concern or a noise level concern. It is quite quiet here. It's a Bedroom Community and the only "traffic" is folks going to/returning from work during the week. Otherwise, it's quiet - even tranquil. There may be a half a dozen cars that go by at night. ​ How do we let buyers know any noise concern is a non-issue? Yes, the house...

My neighbor's place was on the market for over 6 months. They had multiple open houses, flyers, and an actual agent. They listed the property for 1.6 million when it wasn't worth 1.3M, so the property looked to have no interest. The property has been empty the entire time. Anyway, about a week ago, the real estate sign came down, and I wanted to check the property to see if there where any updates. However, not only is the listing not shown, I can't even find the address. Zillow says the address is invalid, redfin shows the outline of the property but no information whatsoever, trulia similar, and the only info with the address are historic links to personal information (ie. who lives at), not property info. I've noticed something similar in the area, where listings remove previous sales records, ie. this recently renovated property looks to be like it's the "first time on the market" when it's obviously a staged flip. But specifically, I'm wondering how people can scrub info from multiple sites, and why? submitted by /u/whoopin [link] [comments]...

I live in small city where one franchise does a vast majority of the business (I've heard quotes ranging from 75% to 95%). I signed up with a buyer's agent from the biggest, best reviewed team from that franchise, which supposedly does more business than any other team. It's been hell. So far as I can tell, they just rely on the easy transactions in our seller's market and coast along. It seems like they spend more time partying than anything else. Most times that I try to call her, she texts back that she's at a party with the team, or at a bar, or at a casino, etc. I tried to place an offer on a house recently. When I asked for comps, she was clueless. First, she just gave me printed listings of like 20 houses in the city. None of them had sold yet, only a few were anything like the one I was bidding on, etc. When I politely asked for something more substantial, she had to defer to her boss. The boss gave me a printout from a computer program that seems to be meant for sellers, not buyers. On top of that, they again used houses completely unlike the one in question. They mostly used mansions, and they made zero adjustments. There was even a...

We had our home on the market listed the traditional way with an agent and it didn’t sell for nearly ten months. Admittedly we started off with the price too high. We reduced it a couple of times before taking the home off the market a month before we had our first baby. A month after the baby was born we decided to give Zillow a shot because who wants to list your house with a newborn if you don’t need to. The initial offer made on the phone was fair but he fees are high, which is what one would expect . Offer was $450k with net proceeds of $395k. Considering our situation, we were tempted to take this. So we agreed to the inspection. Our home is 5 years old. There was nothing wrong with it. (They factor in stuff like repainting in the primary offer so the inspection doesn’t reduce it.) But here’s the kicker: the Zillow representative that came to the inspection with a contracted inspector recommended that they reduce the offer because of its proximity to a freeway and some warehouses (this is Houston so that is like half of the city). So new offer was 420k net proceeds around $372. Needless to say, we didn’t accept. Then of course their brokers contact...

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. It’s very challenging to implement search engine optimization (SEO) into your marketing strategy without using an SEO keyword research tool. Because SEO is such a popular marketing tactic, many great tools have been created to help website owners. This blog post will go through the details of seven different SEO keyword research tools to help you decide which is the best for you. It’s well-known that Google offers many high-quality and free tools for website owners. The Google Keyword Planner is great when you are focusing on Google’s search results only. The tool does not offer an analysis for other search engines like Bing or Yahoo, which could be a setback if you are practicing SEO to rank on all search engines. It also includes an estimate of how much it would cost to run an advertisement on those keywords with Google Adwords. If Google is the primary search engine you are trying to rank on, this is a reliable option that’s perfect for beginners. It’s also completely free, which is a definite plus!   SEMRush is another very common keyword research tool. Rather than providing a free trial, they give users the opportunity to do a keyword analysis on...

I'm in the process of buying a coop. My offer was accepted for what I feel like is a fair price. The unit is fine, nothing special. Its 2 min from work. I will be approved by the board without any issue. The monthly payment (15 year loan) even including the maintenance is less than my rent. My friend likes the complex and has been there more than 2 years. I am feel anxiety in submitting the next step. My agent has been "eh" and I am afraid of what I could miss out on. Unfortunately, my dream scenario (living wise) doesn't exist within an hour of my job. This buy is a sacrifice of what I really want. I'm 31 and this my first buy. Can anyone just kinda assess this post and tell me if I'm crazy or not? I have no support system where I am. submitted by /u/Bungholebonanza [link] [comments]...

First, awesome sub with tons of valuable information I have already searched for and absorbed. Thank you! I was hoping someone could walk me through my first land purchase, from due diligence, to how and when to pay the seller, and everything else that goes into the deal. This will (hopefully) be my first land purchase coming up and I just want to make sure I do everything possible to ensure the safety and legitimacy of the deal. I know this is a lot to ask and will completely understand if I receive no responses and my post is downvoted. I appreciate you taking the time to read and consider my request. Thank you! Edit: Sorry, let me include: Septic and water on site, perc up to date, cash deal with owner, no flood zone, plan on building approximately 2 years from now, any builder is okay. submitted by /u/51Baggins49Took [link] [comments]...

There are 6 duplexes/zero-lot-line townhome buildings in my neighborhood, for a total of 12 properties. They are all identical, except for whatever upgrades each owner did. I plan to list my property in about a month, but have recently learned that there are at least 4 owners who plan to also list their properties at that same time. (The full details of why we are all waiting to sell are below, should you wish to know, but it isn't particularly relevant). The market is currently a sellers market but seems to be cooling off a bit. The majority of homes currently on the market are well above the price range there duplexes would likely list for. I do not have to sell/move, but would strongly prefer to have the property sold before November 1st. I am looking for insight on a few things: What will having 4+ almost identical properties on the market do to prices, demand, listing time, etc Is there a good strategy to use when selling in this sort of situation? I have asked my realtor, but I think her advice is clouded by the fact that she really wants to sell the ASAP, as there are so few listings on the market right now. She says sell for the same price as we have been planning...

Image Attribution: clker.com I mentioned our summer intern in a previous column. Ahhh – the enthusiasm of youth! It’s a beautiful thing. Questions that emanate from the Cal State Fullerton senior are thought provoking and column worthy. So here goes! What does it take to be an expert in commercial real estate? To respond – I’ll focus on the nuts and bolts vs things such as an agent license from the DRE, a Broker, empathy, professionalism, diligence, a wee bit of intellect, staying power, honesty, integrity, and the right mentor – sounds like a Boy Scout! Yeah all of those are critical – but can be said of most sales professions. To be an expert in commercial real estate you really need five things – which I’ll describe below. Inventory. What is available for sale and for lease and more importantly – what exists at the baseline that is occupied. To determine buildings currently on the market – we use a combination of multiple listing services available to commercial agents (or those willing to pay a hefty monthly fee) – CoStar, Catylist, ILS. We supplement this information with Loopnet and our proprietary data. Baseline stats – standing stock or planned and under construction buildings are tracked using LandVision, Reonomy, CoStar, Catylist, or old school methods – such as saving brochures. Transactions. You really must...

Looking at a property. I have seen it twice and I am about to get a inspection. I google the owners name (who I have been dealing with) and he is a current real estate agent. He owns a couple properties and has one law suit that I can read that he lost (but I am not to worried about that because it would not be so odd to get sued if you own a bunch of properties/ businesses) In my search often I see in the listing a disclosure that the owner is a agent. Why would someone not disclose that ? submitted by /u/helpmee4115 [link] [comments]...

Is there a clear cut favorite between the two? I've heard some horror stories with septic systems going and the costs associated with them and also people having major issues with their sewage lines. submitted by /u/VMP8899 [link] [comments]...

I am a first time home buyer who plans to buy a house in the next year. I have excellent credit (FICO 8 scores all above 800 - not mortgage scores as I have not pulled those). I have stable income in the same industry for the last 5 years (2.5 in the same company). I have money for 10-20% down, but would rather go with 10% down to maintain my emergency fund after closing costs and the like. I have a car loan that will be paid off before I buy the home ($5k left). I also do not anticipate any major issues with getting a loan as the homes I am looking at are in the 3-3.5x range of my annual income. The market I am looking at is a reasonably hot real estate market (Sacramento, California). With that said: Should I look for a mortgage broker/lender first and get pre-approved, or should I find a real estate agent first? I have read conflicting information online on getting a lender or agent first. How far out is it reasonable for me to contact a real estate agent? I am looking at homes on apps and occasionally by walking in. I am not sure if I will end up getting a new construction home or an older one....

Hello - and thank you all in advance. Here's my dilemma. I lost my partner one year ago. I have a 4 bed, 2 b split-level built in '94 on 3 acres 3 miles from our small midwestern town. I decided to sell/move across the country to be near family. Realtor recommended price of $325k, supported by comps, etc. Property listed, accepted offer of $295 within the first week. Home inspection, appraisal, survey all passed without a hitch. Quit job, had estate/personal property auction - (who wants to move all that much lol) and close was scheduled within the month. All I kept was a bed, a chair and electronics. I'm now sitting in an empty house, basically. Covenants were discovered in the title search. You can have personal pets (horses but not goats or chickens) and realtors tried to have the majority of the other owners in the covenant group to sign off on goats, but no go. Buyer dropped out right before close. Fail. The house is now back on the market. It's now up to 50 days (including the 40 it was under contract) and I don't know what to do. Is the listing stale? Will the potential buyers think something is wrong with the place? Will dropping the listing to $299k get more interest? Am I running out...

This post originally appeared on tBL member  Progressive REP Blog and is republished with permission. Find out how to syndicate your content with theBrokerList. Rancho Cucamonga, CA – June 18, 2019 – Progressive Real Estate Partners, the leading Inland Empire retail brokerage firm, announced today that it has executed a lease with Chuze Fitness at 14574 Baseline Avenue in Fontana, California. Chuze will be occupying 45,000 square-feet of the former Ralphs Grocery leaving approximately 12,000 square-feet for a soon to be announced co-tenant. The location is part of the well-established Morningside Marketplace neighborhood shopping center. Progressive Real Estate Partners’ VP of Retail Leasing and Sales Paul Su exclusively marketed the property and represented the lessor.  Chad Ifrate of Cushman and Wakefield represented Chuze Fitness. Founded in 2008, Chuze Fitness has over 30 locations across four states including California, Arizona, Colorado and New Mexico. Chuze gyms are known for their variety of amenities, friendly atmosphere and affordable membership plans ranging from $9.99 to $39.99 per month. The new Fontana location is projected to open in early 2020 and will feature state of the art cardio equipment, weight machines, free weights, group exercise and spin classes, a swimming pool and spa, steam room, well-appointed locker rooms, tanning beds, movie theater, child care and a smoothie bar. The 90,000 square-foot Morningside Marketplace is ideally situated at a busy four-way signalized...

This post originally appeared on CREW Las Vegas' Blog and is republished with permission. Find out how to syndicate your content with theBrokerList. Hillery Francis of the Southern Nevada Water Authority The June luncheon was led by our wonderful Board Member and Director of Finance, Kari Golden. Kari did an amazing job. Kari introduced all of the generous CREW Las Vegas sponsors and asked all sponsors to stand and accept a round of applause. A Happy Father’s Day was wished to all our CREW Las Vegas male members and thanks for their support of our tight knit chapter of commercial real estate professionals. Kari also reminded us all that the goal of CREW Las Vegas is to advance members through networking and education. Kari acknowledged that at each luncheon we hold a purse raffle which is to help better our chapter or to provide support to those in need. This month the proceeds of the purse raffle will be presented to the family of Melissa Newton. Additionally, LandCare has also donated Aviator tickets which can be raffled off to help the Newton family deal with the recent loss of their dear Melissa. Brenden Graves, chair of the golf tournament, made a few announcements about the upcoming golf event being held on Friday, June 14. First and foremost, Brenden stressed that we all need to have fun, but safety...

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. Storage units just might be the key for you to get into commercial real estate. Here’s how. In this article: What Is a Class C Storage Facility? How Do I Look for Class C Storage Facilities? Where Do I Get Funding for the Purchase of Class C Properties? How Do I Upgrade a Class C Facility to a Class B Facility? Investing in Storage Units | What You Need to Know Storage units definition: A storage unit, otherwise known as a “self-storage unit” or “mini storage,” is a property (or a part of it) that a self-storage facility business rents either to an individual or to another business. What Is a Class C Storage Facility? As mentioned, storage facilities provide individuals and businesses a place for storing personal property. Tenants who require extra space for storing items rent a storage space in those facilities. A standard storage facility also provides other storage solutions such as boxes, locks and other packing supplies the tenants or customers might need. Most people fear to invest in commercial real estate because of a lack of development capital. However, one strategy they probably do not know about is investing in these storage facilities, particularly the Class Cs. Investors could easily buy these for...

My boyfriend bought a home in a fantastic location that's listed for 60000 under what it would be listed for if the roof wasn't bad. He wants to buy the home, repair the roof himself which he has extensive experience doing although he is not a professional roof contractor, and then remodel the home. The home won't qualify for FHA. What are his financing options? He can't afford to buy the whole place outright in cash. submitted by /u/two_pounds [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. Indexing is a very important topic that all website owners should at least have a basic understanding of. Without having your website indexed by search engines, organic website traffic will typically be very minimal. This makes it extremely important to have your website indexed by Google and other search engines. In this blog post, we explain what indexing is, why it’s important and how to do it. Each website that is listed in search results has been indexed. Websites that get indexed, are recognized by search engines and appear in search results. Search engines like Google index and include websites in their database. Once a website is indexed, it has the chance to appear in search results. You should also know that websites get indexed more than once. Indexes get updated as websites are regularly crawled (re-indexed). The reason they are crawled often is because search engines want to be aware of any changes that may have been made on your website. If you do make changes to your website, this can positively or negatively impact the way your website should be positioned in the search engines. First and foremost, it is important to check and make...

The Hudson Yards neighborhood recently had its official opening in New York City, it announced in a release. New York natives and tourists alike took in all that the $25 billion development had to offer, including The Public Square and Gardens, a new five-acre public space featuring public plazas, gardens and groves. Visitors also experienced Vessel, the centerpiece of Hudson Yards, which comprises 154 interconnecting flights of stairs, 2,500 individual steps and 80 landings, and offers unique views of Manhattan’s West Side. Lastly, those in attendance got to enjoy The Shops & Restaurants, a one million square foot retail center that comprises more than 100 retail locations and eateries. Real estate firms Related Companies and Oxford Properties Group developed Hudson Yards, while a vast collection of architects and designers collaborated on the neighborhood, including Diller Scofidio + Renfro; Elkus Manfredi Architects; Foster + Partners; Heatherwick Studio; Kohn Pedersen Fox Associates; Nelson Byrd Woltz Landscape Architects; Rockwell Group; and Skidmore, Owings & Merrill. Hudson Yards plans to house industry leaders from almost every business sector. Companies such as Guardian Life Insurance Co., L’Oréal USA, Tapestry Inc., The Boston Consulting Group, SAP, VaynerMedia, Intersection and Sidewalk Labs will occupy 10 Hudson Yards, while Boies, Schiller & Flexner; Engineers Gate; HealthCor Management; Milbank LLP; Point72 Asset Management; Silver Lake; Third Point LLC; MarketAxess; and Mount Sinai Health System will...

Hey guys - typical story here, just a guy looking to get started in RE investment. I'm really interested in finding duplexs/triplexes in the Philly suburbs, but there appear to be way less listed on sites like Zillow and Trulia. I'm sure it has something to do with there just being less of that type of home in the areas I'm looking, but I feel like there have to be more than Im seeing. Is there a "best" resource for finding multifamily homes? I have a feeling a lot of them are sold before they even get listed because they're an investment and investors have a lot more incentive to get into the best deals early than a typical homeowner. If so, what's the best way to build up that network? submitted by /u/Djkayallday [link] [comments]...

My story is far from the norm. At the time, I was working 3rd shift in a factory and had taken a real estate class at the U of MN. Joined a company and had listed and ended up purchasing the duplex I listed (single family home converted to legal duplex in the 1950's) back in 1978 in the Powderhorn Park area of Minneapolis when I was 24 years old. As a Veteran I went zero money down and pocketed both sides of the commission as the listing agent and buyer, which was around $2000 back then. Left the part time Realtor gig right after that. Rents were $225 for the one bedroom unit and $240 for the 2 bedroom unit at the time of purchase. Mortgage was 8.75% with a PI of $445. Only reason I purchased the property was so I could have pets. Lived in one unit and rented out the other for 31 years. Originally bought the duplex for $42,000 and put $35,000 six years ago into a new kitchen and bamboo flooring in the upper unit and separate electric for the "Commons" areas (something that is required by Minneapolis if owner of duplex does not live or, no longer lives in the building). Also, spent another $9,000 this year on cedar fencing and upgraded Central Air ....

I'll be ready to purchase a property in about 12 months and have been looking into buying a duplex. However, the more I look into it the more it seems it may not be a very good financial decision. The following is the typical scenario I am running across and I'm hoping some experienced folks could weigh in on whether or not it makes financial sense. Cost of Duplex: $225,000. Built in 1970s/80s. Assume limited amount of work needs to be done initially (just painting, landscaping, etc.) Unit 1: 2 bed/1 bath - $925/mo rent - tenant pays utilities Unit 2: 2 bed/1bath - $925/mo rent - tenant pays utilities Total rent per month: $1850 Mortgage/taxes/insurance after 20% down: $1200/mo Maintenance costs (15%): $278/mo Vacancy (3%): $56/mo Income after expenses: $316/mo. What do you all think? What expenses am I missing? This obviously does not meet the 2% rule; however, I know that is controversial. I look forward to hearing/learning from you all. Edit: Formating/Math submitted by /u/Science92 [link] [comments]...

This post originally appeared on SimonCRE Insights Blog and is republished with permission. Find out how to syndicate your content with theBrokerList. When budgeting for a commercial development project it’s important to remember that costs typically break down into two broad categories: hard costs and soft costs. Considering the impact of a thorough budget on the success of a development project, you should be aware of some of the specifics of these cost breakdowns. In this post, we take a closer look at what hard costs are and what comprises those costs in the commercial real estate development process.   What are Hard Costs? These costs consist of tangible and quantifiable materials and elements of the development project. Typically associated with the construction phase, hard costs are related to the building’s structure, the site, landscaping, and any equipment that is fixed. One of the biggest factors impacting hard costs is varying material and labor costs. A Closer Look at Hard Costs Here is a list of some common construction hard cost items. Building ShellThis category includes all materials required to complete the whole building or structure. The structure consists of the foundation, framing, floors, roof, finishing work, etc. Parking and Additional PavingThis includes grading, paving, striping, curbs, and any parking islands. Some of the work may fall into the off-site improvement category and might include items such as a pedestrian sidewalk, along...

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. Note: This article was published by the Central Penn Business Journal. Click here to read the original version. Census data provides a fascinating look into population growth trends that stand to have a profound impact on our economy, both locally and nationally. More than just being “interesting” data to study, population growth and decline points us to important trends that will reshape supply and demand in various industries, one of the most prominent being real estate. Just last month, the US Census Bureau released new population estimates. These estimates account for and compare the resident population for counties between the dates of April 1, 2010 to July 1, 2018. The outcome? There are shifts in population taking place across the nation that may differ from what you might assume. Let’s take a look at some of the highlights from this data from a national and local level. CONTINUE TO THE FULL ARTICLE Did You Find This Article Informative? RSS Feed provided by theBrokerList Blog - theBrokerList for commercial real estate brokers (cre) and Census Data: National and Local Trends You Need to Watch was written by Michael Kushner. ...

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 6, 2019 – LeaseQuery, one of the fastest growing technology companies in Atlanta, and a leading provider of lease accounting software, has announced that Joe Schab has joined the company as Chief Operating Officer. Schab will be running day-to-day operations of the company as it continues its rapid growth and expansion. “Joe brings a wealth of experience in helping scale companies quickly, efficiently and profitably,” said George Azih, LeaseQuery founder and chief executive officer. “We’re at an inflection point in the company’s trajectory, having grown more than 700% last year. Having someone with Joe’s depth of experience will enable us to further accelerate our growth.” “This is an exciting opportunity to join LeaseQuery at such a pivotal time,” said Schab. “The product’s market fit, combined with ideal market timing has resulted in spectacular growth. We solve a big problem for accountants and the accounting industry by helping them adopt new standards – and making the complex simple through technology and service excellence. The company has been rewarded with phenomenal sales and organizational growth. We have grown to more than 125 dedicated professionals, and we expect to double in size over the next year.” Schab is a...

This post originally appeared on Michael Beckerman's Blog and is republished with permission. Find out how to syndicate your content with theBrokerList. Ben Liao is one of the most impressive and important people in the CREtech ecosystem. His leadership at Colliers Techstars is making a profound impact on our industry and I am proud to call him a friend and have him as part of our Leadership Board at CREtech.com. I caught up with Ben recently to get up to speed on some of his new initiatives and views of the sector at large.. First of all, can you refresh us as to who is TechStars? Ben Liao: Founded in 2007, today Techstars is the worldwide network that helps entrepreneurs succeed.  The network connects founders with successful entrepreneurs, experts, mentors, alumni, investors, community leaders, and corporate partners to quickly grow and scale their companies. We currently run nearly 50 accelerator programs around the world and jointly receive tens of thousands of applications each year from startups.  Each program selects, invests and supports 10 companies per year, essentially the top 1-2% of applicants. Our accelerator programs are a unique 3-month intensive opportunity for early-stage companies to rapidly commercialize, scale and fund their business, working closely with our corporate partners and network of highly engaged renowned mentors. We deploy capital into seed stage companies through our accelerator as well as follow-on funding...

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. Real estate investment trusts (REITs) are paying higher salaries to workers compared to traditional finance industry sectors such as banks and insurance companies according to a recent analysis by the Wall Street Journal (WSJ) of annual pay disclosures by U.S. firms. The WSJ found that REITs and property companies such as Host Hotels & Resorts Inc. and HCP Inc. paid their employees a higher median income compared to some of the largest banks in the U.S. The analysis revealed that median worker pay at Host Hotels & Resorts, a REIT which invests in upscale hotels was $183,956- the highest of any company and HCP a health-care REIT reported a median pay of $156,921 the third highest across all industries. When comparing the median salaries of the top two highest paying REITs with those of the top two banking institutions – the median salary at these REITs was nearly 20% higher than banking giants Morgan Stanley and Goldman Sach Group Inc. which reported a median pay for workers at $142,604 and $136,513. The WSJ reviewed more than 1,300 companies in the financial, real estate and insurance sectors including REITs, insurance, capital markets and consumer finance firms. According to the WSJ,  part of the reason...

So basicallly I own rental properties and my parents assist and collect rents for me. They also use the funds for projects and themselves (ie a short term loan) but pay it back so not a big deal. Wife and I found a home and put in an offer and I started the mortgage process yesterday (July 3). I forgot about this large deposit. Will it be an issue with underwriting since it’s not clear where it came from? I can only explain to them it was money lent to my parents short term and repaid. Edit: more details - everything else is on the up and up. Income is fine and we don’t require a sales contingency on our current home since our income qualifies is to hold both mortgages at the same time, so we have time to list and sell separately. submitted by /u/dean078 [link] [comments]...

(Sorry as I don’t know how to update the original post or how to tag people who have reached out (if that is even a thing on Reddit) My mum was overwhelmed by all the support and ideas given of what we should try to do regarding her situation. We didn’t think of any of that and so many people gave us new information of possible help. She wanted to say thank you and let you know she appreciates everyone’s time and assistance. https://vimeo.com/346034841 Password: Reddit (This is my second time posting this. The first time I realized there was no sound. If anything, I’m learning how to use the internet) submitted by /u/Caregiver4life [link] [comments]...

Hey guys my grandma and grandpa owned some land well I bought it off her last September. She let my uncle stay on half of it. Well I bought the other half yesterday. It was already in my name so it didnt have to do any legal documents. Well I want to evict my uncle off the land how do I go about doing it?he's in jail at the moment. And there is no agreement. He didnt pay any rent or anything. Any suggestions? submitted by /u/Brandonjr36 [link] [comments]...

I'm in NJ. My buyer must travel abroad for work for 2 months. He claims that his mortgage company won't let him give power of attorney to his lawyer or his realtor and that he must be there in person to sign the closing papers. He expects me to wait until he gets back to close. I've never heard of this sort of thing. Am I being lied to? Is there ever a reason that mortgage companies would do this? submitted by /u/fandcmom [link] [comments]...

Here is the situation (NJ): Buyer is interested in buying a 2-family house. Unit 1 is owner-occupied. Unit 2 has a month-to-month tenant. Buyer desires to have the property completely vacant at closing. Unit 1 is no problem, but the tenant in Unit 2 may be an issue. Contract is signed but attorney review is ongoing. The seller and their agent/attorney are arguing that it will be the buyer's responsibility to serve a notice to quite and evict the tenant prior to closing. This does not make sense. Shouldn't it be the seller's sole responsibility to evict the tenant if they agreed to sell the property to a buyer who wants it vacant? What is customary? submitted by /u/DataGL [link] [comments]...

I get a call at about quarter to 8 in the morning from a "no caller ID" number. Now, I know one of my broker's clients, whom we're friends with, sometimes calls from a "no caller ID" number. So I pickup the phone and say "Hello" in a regular tone, not necessarily in a positive or negative tone. The caller says something along the lines of "I'm looking for a realtor and trying to get a hold of a realtor". In my half asleep/half awake state I say "yes" (I realize it was a poor response lol) and then the guy gets all mad and says "wow not even a professional greeting? I think I'm going to use someone else" and proceeds to hang up. I still have no clue who this caller was. The only thing I could think of was that he was a FSBO or expired listing that I sent letters out to a while back. If this is the case, I feel terrible I missed out on a potential listing. On the other hand, if he was that confrontational about something so simple, maybe I didn't miss out on anything good. What are your thoughts on this situation? submitted by /u/paperscan [link] [comments]...

This post originally appeared on tBL member James Milner CCIM's blog Appalachian CRE "The Blog" and is republished with permission. Find out how to syndicate your content with theBrokerList. Dear Clients, Friends, and the Boone Community, Wow, where did the time go? About four and a half years ago I started Appalachian Commercial Real Estate. I had a vision of being the very best at what I do each and every day. Presently, it is still just me and that’s ok, I work incredibly hard to make sure that everything gets accomplished day in and day out. Gratefully, I have an extremely understanding and patience spouse (Catharine oxo) who allows me to work until the job gets done. The great news is that after careful thought and consideration I have decided to move my office. With that said, effective immediately, my new physical address is 149 Jefferson Road, Boone, NC 28607. The office is located in the PeakGroup.Insure building on the second floor. I have known Chuck as a friend for many years (we went to high school together), he has been a client (I represented him when he purchased the building) and now he is my landlord. Full circle, am I right? In all seriousness, I am extremely grateful for the opportunity to be in his new building. I can already see the potential...

This post originally appeared on Buildout's Blog and is republished with permission. Find out how to syndicate your content with theBrokerList. Could we someday live, work and shop in commercial buildings designed by AI, or do we already? We wanted to find out. What’s happening in the world of AI-designed commercial buildings? Currently, most of the conversations in this area revolve around architects’ concern that AI could take their jobs, which is an issue that affects almost every industry. Experts in the architecture field, however, say the same thing we’ve said about tech developments in CRE in general: If used early and well, AI can make architects better practitioners and help them be more successful in the long run. “It’s unfounded that AI can replace humans, especially as designers,” Patrick Hebron, a UX designer with Adobe Systems and adjunct graduate professor at New York University said. How does AI improve architecture—and the CRE industry? Just like in brokerages, in architecture firms, AI can automate mundane tasks so architects can use their brain power on being more innovative when designing new commercial buildings. The French architect Arthur Mamou-Mani is one example of this. He uses special software to define the parameters of a building’s environment, and the program provides thousands of possible design solutions. In this way, his team is collaborating with the computer and seeking...

This post originally appeared on Marketplace Advertiser, Reonomy and is republished with permission. Find out how to syndicate your content with theBrokerList. Table of Contents Property Owner Records: What’s good about public owner records? What’s bad about public owner records? The Quickest Ways to Search Property Owner Records in Any County: Reonomy TrueOwner Public Property Owner Records Search Examples Some people think commercial real estate is simply investors trading property – pretty straightforward to the naked eye. But what a lot of people don’t realize is that there’s a lot happening behind the scenes before a deal even gets off the ground. Research is an important aspect of that. Finding property owner records, for one, is no easy task. Public records have traditionally been the tried-and-true resource for CRE professionals looking for property ownership information. While there are certainly more tools available in 2019 to assist with these searches, most people still start with public records as their baseline. We’re here to look at the quickest ways to search owner records, and to give some insight into alternatives changing the process on the whole. Property Owner Records There are a number of reasons why CRE professionals would want to find property owner records. Most importantly, property owner information is critical when trying to find leads or potential customers. For instance, a commercial real estate lender might want to know who owns a particular 20-unit apartment building so they...

I am currently helping renovate and then sell a condo in Tempe, AZ for one of my friends. This complex (36 units) has very dated units and looks a little run down. Lately they have had to do some pavement of parking lot and replacement of wood beams in front of each condo. Which they have used to justify increases in the past. A new management company stepped in and immediately doubled the HOA to $350 a month for condos that value for about $150,000-$175,000. This is causing a lot of people to sell their condos because their HOA is approaching 50% of their mortgage payment. I found out today from a neighbor that there is an investor who has stepped in and has successfully scooped up a majority of the properties in the complex. Could the HOA be colluding with this investor to buy up all the units to use the space for another real estate project? Is this illegal? How can I prove it? submitted by /u/aces613 [link] [comments]...

My wife and I are buying our second home. We found a house we like in the town we live in. Ticks most of the boxes of things we were looking to improve on from our current house. We put in an offer today at asking price (the house has been on the market for two or three days). Our realtor came back and said there are multiple offers and we should make ours stronger. How much over asking should we offer? I don't want to screw ourselves by offering too much. Is there a way to know besides blindly adding money to the offer? We are in northern NJ. The house is listed at 489k and our realtors think we should up to 505k. At the end of the day it's not much more to our mortgage but I just don't know if I'm comfortable offering that much over their asking price. submitted by /u/briandickens [link] [comments]...

It’s been a super rainy spring/early summer in the Midwest. We are selling our house. At the time we put the house on the market, we could honestly say there was never water in the basement. Now, we are awaiting closing, maybe 2 weeks out at most. Appraisal and inspection all have been done for a while. Yesterday I went into the basement and lo and behold! Water marks! Not actual water, just wet marks going up the walls in two basement corners and definitely some mold. Do we have to report this to the buyer? If so, how do we do so? Can they back out of the sales contract if the contingency period has closed? submitted by /u/VeronicaTeaches [link] [comments]...

I inherited an old house that is located in a valuable (and growing) part of town. I know that selling it now would give up big gains in the future, but I can't afford to do a full rebuild. It cannot be rented in its current state. Are there any types of opportunities out there that allow an investor to come in and take most of this off my plate while allowing me to retain some sort of residual income or ownership? submitted by /u/mrbigsmallmanthing [link] [comments]...

Hey all, I'm interested in getting my foot in the door to the real estate business. I'm 16 years old and looking for a productive way to spend some of my extra free time. I'm happy to do dirty work: scraping online properties in a given area, organizing property owner contact information, or even cold calling asking for initial offers. I'm currently in the process of writing a resume to submit to some of the bigger name firms as well as some of the more local firms. Does anyone know of anywhere else I could look to start my journey? submitted by /u/_Legendairy_ [link] [comments]...

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