Blog | Michael McVinney
Contact Michael McVinney, a NY licensed Real Estate Broker. Michael McVinney is also licensed in PA.
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A few years back I let my cousin buy a home under my name. He paid the down payment and has been completely paying the mortgage and living there. I have no involvement other then being listed as the owner and on the mortgage. I am now ready to purchase my own home so I need to get his home/mortgage off my name because I don't make enough money for the bank to justify another mortgage. The home is valued around 350,000 and he owes about 150,000. Since he has payed the down payment and mortgage I would like to just sell the house to him for the reminader of the loan, 150,000. Since it's his home and has been living there since it was built we don't want to do any inspections so we can keep costs down, unless required by law. What would be the easiest and cheapest way to go about doing this? Would we need a real estate agent or attorney involved? submitted by /u/thedude138779 [link] [comments]...

This post originally appeared on Marketplace Advertiser, ClientLook and is republished with permission. Find out how to syndicate your content with theBrokerList. How To Attract Top CRE Agents To Your Brokerage In today’s competitive commercial real estate market, attracting and retaining top agents to your brokerage should be one of your main concerns. The best agents want to work with the best companies, but they’re also looking for the “total package” that includes more than just a nice commission split. If you’re looking to attract skilled agents, use these tips to make your search easier. Understand What Makes Your Brokerage Unique There are a lot of commercial real estate companies out there, so what makes your company unique? Why would a top agent choose your company instead of your competitors? Put yourself in the agent’s shoes and really think about what makes your company appealing. The days of just comparing commission splits are long gone, and great agents care more about the other benefits that you can offer. This will be different for every company but take the time to think about what your “wow” factor is, and make sure it’s in line with the type of people you’re trying to attract. Be Powerful Online Potential agents are researching online to narrow down their top commercial real estate companies. Does your website, blog, and social media presence make a...

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.pinterest.es Two weeks ago – in this space – I discussed the reasons your commercial real estate deal is taking so long to close. As promised – today I will discuss ways to close your commercial real estate deal faster. Our discussion two weeks ago focused upon several areas which I will use as a framework for today’s conversation. Search. Before you search – give some real thought to all of the solutions to your space needs – staying put and re-working your layout, out sourcing a portion of your operation, taking an additional building from your current owner. Also, engage someone who can assist in zeroing in on precisely how much square footage you need. Negotiations. In a word – Realistic! If you attempt to scalp an owner these days – you’ll be disappointed. Figure out why you are moving. Will you top line revenue increase by a large percentage? Will you be able to give a key employee a private office and thus increase her efficiency? Will a move translate into cost savings? Are you more proximate to labor or suppliers. When considered through this lens – a few cents per square foot or...

Is it just me or does any other seller also feel like telling buyers that 1. I am not selling you your home. I am selling you my home and it is up to you to make it yours And 2. I am not selling a new build so yes, there are scratches on the floor/wall/etc Ahhhhh sorry - needed to vent. ?? UPDATE: got an offer...

This post originally appeared on Marketplace Partner, RealMassive News Blog and is republished with permission. Find out how to syndicate your content with theBrokerList. We’re seeing digital and tech transformation in all areas of our lives. In general, this is a welcome transformation. Not only does technology save us significant time, it also ensures much greater accuracy, which is imperative for improved decision making. Not surpisingly, slow manual processes can be a breeding ground for human error. The tech revolution is making its presence known in the real estate world, too (albeit, with some hesitation). We’re seeing more and more brokerage firms adopting a technology-first mindset. That said, the idea of what it means to be a tech company is still loosely-defined when related to real estate. Brokerages that are self-proclaiming as tech companies rather than real estate companies allow for a wide variety of interpretations. As we watch this transition, it’s helpful to understand what this “name game” means, and how it might impact brokers, brokerages and customers at scale. What it means to be a tech company For real estate firms that have transitioned to calling themselves a tech company, it may mean one of two things. For some, it could mean they are ‘tech enabled,‘ and actively investing in improved digital processes. For example, they are improving the way they manage customer relationship contacts and...

This post originally appeared on Marketplace Advertiser, Metropolitan Capital Advisor's blog and is republished with permission. Find out how to syndicate your content with theBrokerList. What Does the Fed’s Rate Cut Mean for CRE? By Brandon Wilhite Last week, for the first time since 2008, the Federal Reserve Open Market Committee voted to cut its key interest rate, the Federal Funds Rate, by 25 basis points (bps). While the US economy remains strong with unemployment rates at record lows, the Fed Chairman Jerome Powell characterized the move as a “mid-cycle adjustment to policy” citing inflation remaining below the Fed’s 2% target as well as other headwinds including a slowdown in global growth and the trade war with China. Presumably, the rate cut aims to stimulate economic activity, particularly investments in assets such as commercial real estate. However, the efficacy of this unprecedented “mid-cycle adjustment to policy” on the commercial real estate sector is far from certain. Whereas historically, previous rate cuts occurred during recessions and times of economic uncertainty when the market needed the stimulus, via a lower cost of capital, to encourage investment activity, there is currently no shortage of investment activity in the sector. Today, market values for most asset classes are at or near their peaks as a result of historically low cap rates and historically high rental rates. As a result, acquiring and...

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. In the most recent edition of the RealNex Webinar Series, Senior Instructor of Commercial Agent Success Strategies and CEO of Bull Realty, Michael Bull, CCIM, shared his perspective on securing properly priced listings. During the session Michael focused on proven techniques to move away from “what the seller wants” to focus only on “what is the property worth”. All too often agents fall into a trap of taking overpriced listings. While that might make the seller happy in the moment believing they have a chance of realizing an unattainable value, agents are doing themselves and the client a disservice going to market with an overpriced listing. The listing will languish and be perceived as “damaged goods” before finally being appropriately priced and sold, likely for less than it would trade for had it been priced correctly to start. Serious buyers know the market well and walk away when they see these situations, and if they do come back after reality sets in, they typically do not bid as aggressively as they would for a property that was priced right from the start. Michael recommends a dialog focusing on what the property is “worth” not what the seller...

Hi r/RealEstate, I'm in the process of buying a home, the owner has accepted our offer! In doing more research into the house I discovered that there might be a discrepancy in the listed lot size vs the actual lot size. Property tax records show the lot being .82 acres, but in parcel maps it shows the lot as .46 acres. Even before doing a survey, I believe the .46 lot size to be correct because it just doesn't feel like .82 acres no matter how you measure and all the surrounding lots are approx .5 acre in size. So immediately some questions came to mind. What is the reason for this and why wouldn't the previous owner correct it? If the lot is indeed smaller than listed, should I ask for a price adjustment? Will this amount to any significant property tax reductions? I will ask my real estate agent and lawyer for their guidance, but I also would love to hear from the brilliant minds of this subreddit. Thanks! submitted by /u/amorphousguy [link] [comments]...

This post originally appeared on Marketplace Advertiser, Alliance CRE Advisor's Blog and is republished with permission. Find out how to syndicate your content with theBrokerList. Everyone knows that the real estate market is both volatile and rewarding. This makes for a high risk high reward scenario which can be used effectively to gain considerable profits in a relatively shorter timespan. However, playing fast and hard is not the only option in real estate investments, there are also safer and more stable options for investments which can yield a fair, if somewhat lesser return. The smartest investors in real estate always combine the best from both segments to ensure they have a reliable and rewarding investment portfolio. If you want to enter into the real estate market of the US, then you need to know where to place your money. Here are some important suggestions by experts that will help you optimize your investment portfolio: 5 Key Real Estate Investment Suggestions to Have a Bullish 2019 1. Combine Public Real Estate Investments with Private Ones Public REITs and other types of real estate investments are quite common. These are invested in by a lot of people including experts and novices alike. The reason for this is simple – they offer a fair return on investment which can then be turned to explore further market investment opportunities. As such, the...

We found a house we really like. The seller accepted an offer on it Thursday evening and we were set to see the property Friday morning. The offer the seller accepted was weaker than our cash offer (lower offer [edit: I believe this to be true, but cannot be certain of it], subject to financing, buyer wants to do somethings likely not allowed by the HOA, and more contingencies), and our agent felt that there's a decent chance it will fall through, so he suggested that we put in a backup offer. We followed our agent's advice and reached an agreement with the seller on a backup offer. However, I'm now having second thoughts regarding how this backup offer actually influences the current buyer, and I'm particularly worried that our backup offer will actually motivate the buyer to close (e.g., "Oh, wow, someone wants this property even *more* than me? I must be making a good decision."). The backup offer agreement does give me the right to back out any time before I have been notified that the primary offer fell through. What I'm specifically contemplating is pulling the backup offer but telling the seller's agent I'm ready to submit a cash offer at the seller's asking price (which is even higher than our currently agreed upon backup offer) as soon as...

This post originally appeared on tBL member Lynn Drake's blog Compass-Commercial Blog | Expert Commercial Leasing Advice and is republished with permission. Find out how to syndicate your content with theBrokerList. A contingency can be thought of as an exception in a real estate contract (a kind of, “I will do this, if you do that” or “if you don’t do this, I won’t do xyz”). For example: We will buy this property if the roof is in good condition. We will buy this property if our bank approves our mortgage. If the bank doesn’t approve our mortgage, then our good faith deposit will be returned to us within 5 business days. If something isn’t completed as agreed to, then the buyer has the right to cancel the agreement or renegotiate it. If a contingency isn’t spelled out in a contract, then the other party can’t arbitrarily cancel the contract.As an example, a buyer and seller enter into a contract to sell a building for a $1M cash. Even though the buyer has the cash to buy the building, they decide to pay to have a 3rd party appraise the property. When the appraisal comes back, they learn the building is only worth $900,000. The buyer tells the seller they won’t proceed with the sale due to the appraised value being less than...

This post originally appeared on Tenant Rep LA's Blog and is republished with permission. Find out how to syndicate your content with theBrokerList. “I’d rather be the jester who adds value to those around me than a King with no vision or intention of making a difference.” Janna Cachola, Short Journey ADDING VALUE: TRANSACTION – firstly by knowing what is happening in the market…the broker will know fair market value and what concessions the landlord is willing to give. FINANCIAL ANALYSIS – a good broker will compare the true costs of occupancy for different spaces under consideration and factor in variances in size, rentable square footage vs usable square footage, terms and additional expenses (repairs, utilities, janitorial and common area expenses = CAM) REDUCE YOUR RISK – an experienced tenant rep will always look out for your best interest. You can rest easy knowing they only get compensated if you get what you want. They do this by maximizing the flexibility and productivity of your workplace GOING THE EXTRA MILE – a pro-active broker who will be resourceful and have a database of trusted vendors such as furniture rentals, IT services, movers, space planners, attorneys and architects and willing to share with you. INCREASED SPEED – in communication, fast follow up with landlord brokers, immediate follow up via email and phone.  I’ve heard it said, “time kills deals”. For more information, please call me at 310-487-2982 or email nina@tenantrepla.com RSS Feed...

So I put an offer in for a house at 170~k and it was accepted ON THE CONTINGENCY that we reach a conclusion during negotiations that will occur after a home inspection. My first impression: it's up to date for the most part, but it needs a new roof and windows. Some stuff will need to be added or replaced, but nothing huge beyond that roof and windows. So with a contingency, nothing set in stone. Still...

We had negociated with the buyer of our current primary residence to let us stay a week past closing to move our stuff, but if the seller of the new home drops off the face of the earth, which they appear to be doing, it seems we'll be homeless this coming friday. What do we do now? submitted by /u/bithloneighbor [link] [comments]...

So my wife and I are selling our home. Our agent had clearly marked in MLS that all potential buyers' agents needed to schedule showings to make sure that we, and our dog, were not at home/had notice/etc. No big deal right? Well apparently today an agent and her clients decided to stop in unannounced and have a look around. We found out because our agent got notified someone had used the lockbox, and then she called them and was basically like "WTF you need an appointment as per the listing". The other agent didn't seem to think it was a big deal, my wife and I disagree. What if our dog had been home and had gotten out and been hurt? By the time they had entered, the house was already under contract, which makes this even more frustrating. We are very pissed to say the least, and think that this agent's conduct was wholly inappropriate. What/who would be the proper channel to report this incident? The Broker? The local realtors association? Both? ​ Thanks! submitted by /u/perfringens [link] [comments]...

A property manager for a 5 unit building I'm looking at told me not to mention that I'm a potential buyer to tenants. Instead that I'm from the insurance company. I saw some of the units on a couple of weeks ago. In terrible condition. Property manager is does not inspire confidence, to put it mildly. But what's with the insurance company thing? What would that accomplish? submitted by /u/yourmomsmom97 [link] [comments]...

This post originally appeared on tBL member Joshua Lyon's blog Joshua Lyons Marketing Blog and is republished with permission. Find out how to syndicate your content with theBrokerList. Website developers have very important jobs. In today’s day and age, just about every business needs a website. Business websites help increase sales, establish a brand, increase awareness, and so much more. This importance makes the value of a great website developer extremely high. You may not be sure what exactly to look for when searching for website developers. This blog post will give you some qualities that every great website developer should have. You should hire a website developer who: Takes the Time to Understand Your Needs Your business’ website is very important, and it’s something that shouldn’t be taken lightly. When searching for a website developer, only look at people who are willing to give you their time. Their patience is essential because they need to fully understand how you want your website, so you will be happy with the end result. A great website developer should take as much time as needed to listen to you, regarding your website needs. They need to understand your vision for your website and they also need to have a strong understanding of your brand. When you have your first meeting with a developer, you shouldn’t feel rushed at all....

I purchased a rental end of 2015. My property manager who also acts as my agent found it. We have an understanding that properties I buy are not to be part of any associations. I just got blindsided by a letter today saying that this property is indeed part of an association and that it cannot be a rental. The letter said I must sell the house within a couple month’s time or face legal action. I’m surprised the owner didn’t disclose this when selling. What options do I have? submitted by /u/jaypooner [link] [comments]...

My wife and I were in Escrow buying a house, this would have been the first house I ever bought. We paid for an inspection and an appraisal. The sellers kept dragging their feet and trying to push back the closing date. We got them to fix some electrical issues in the house (imo should have been done before they even thought about selling). The original closing date was on the 15th of the month, we agreed to move it to the 22nd. They then wanted to move it to the 28th. We countered keeping the 22nd for closing and they could pay ~$70 a day for rent till the 28th. My thinking was incentive for them not to push back the date any further as we needed to move out of our rental before the end of the month. The 15th rolled around and they backed out. No real explanation given. Now we are out $1200 for inspection and appraisal. We got ernest money back but needless to say this left us very scorned. I dont think there is much we can do to get our money back. Kinda just venting here. Was that a wise decision for use to make (making them pay rent on their old house)? Does this happen often when buying a house? submitted by...

I'm in a really bad situation and in need of help desperately. Cross posting this to r/realestate , r/realestateinvesting, and r/realestateadvice. I am 40yrs old, married, disabled and on a fixed income. Last year our income dropped (due no fault of ours) and we became very far behind on everything. Being disabled getting a part time or temp job is not an option. We have no way of increasing our income and even renting out part of the house has not been enough. I went to the housing authority and attempted to apply for the NC foreclosure fund assistance. Unfortunately they could not help us. My husband is not a citizen, he is just a permanent resident (green card). The website and documents I found on the NC fund stated you needed to show legal residence. We did. However the lady said he had to be a citizen for us to qualify for the funds aid. I challenged her and she avoided all my calls and emails, We then got a letter saying the application was denied since it was 'incomplete'- since he didnt show he was a citizen. During this time we applied for a loan modification and we were given a trial period to show we could make the new payment (it was reduced by 20$). The housing lady...

My wife and I are looking for home with a pool in Los Angeles. Our agent tells us that as long as we find a home we love with a generous yard, we can always install a pool. He’s seems pretty confident when he says this. Is this just BS? I would imagine in this day and age, It would be pretty difficult to get a pool with permits approved by the city of Los Angeles. Does anybody have experience with this? If anyone has had a pool installed, what was your experience like? Thoughts? Suggestions? submitted by /u/billbobb1 [link] [comments]...

Technology, demographics, and different consumer expectations are the three main drivers of change in the retail industry. Consumers are more connected now than ever before with their personal mobile devices and successful digitally native retail brands are fast becoming popular. Consumer habits are changing, and with that, so are expectations. There is now a stronger emphasis on restaurants,fitness,recreation and entertainment, which means that the demand for mix of retail and experience is a high priority for many consumers. As we continue to see a shift toward self-care, retail centers increasingly offer medical offices, fitness centers, health spas and other services as tenants. The physical store is now providing an opportunity to craft a unique experience through customer service, personalized shopping, and custom products which is why many online retailers such as Amazon and Warby Parker are now also opening stores around the U.S. Consumers are rewarding retailers who offer a seamless offline and online experience. RSS Feed provided by theBrokerList Blog - theBrokerList for commercial real estate brokers (cre) and Retail Changes was written by Robert Tack. ...

We listed at $439k which was supported by comps, knowing that with it being an older house we’d have to negotiate a bit. (I don’t think the house’s age is a disadvantage, all single family homes in this desirable area were built around the same time.) Got an offer effectively $20k under list. After several rounds of negotiation we ended up at $10k under list. We were fine with this. Now the buyers have gone through inspection and submitted what I consider to be a ridiculous 2-page list of items to address. One of which is bringing the insulation up to “standard”, whatever that means. On top of that they requested over $5k towards a brand new patio because the current patio has settled and there is a crack. IMO this could be resolved for 80% less by leveling the concrete and sealing the crack. My husband and I are trying to figure out at what point we should walk away and not feel bad. I cannot believe someone would buy a 50-60 year old home and expect it to be in perfect/new condition. Our house is partially renovated and the fully renovated homes in our neighborhood sell for $100k+ more. And I’m sure those homes had inspection issues too. We told our agent she has up to $X total to work...

My parents were offered 385k on a house listed for 360k two weeks ago. Now, my parents have always had some unrealistic expectations regarding selling their house: They asked 5k below comps on a house that needs at least 20k worth of work (flooring, cabinetry, plumbing, wall repair/repaint, major nicotine staining on literally every surface...

My boyfriend and I are looking at purchasing a foreclosed home. His credit is at around 720 and mine is at 650 according to some apps. When he purchased a car last year, it actually showed his credit at 744, higher than all his card apps told him. The car salesman said credit scores are usually higher than the apps say, so I don’t know if that would pertain to me. My credit is at the low end of average, or the high end of poor; depending on which score system you use. We both already agreed that we would add my name to the deed afterward if we decided to go forward with only putting his name on it. The house is a$ 86,000 foreclosure and we would purchase it with a bridge loan as our house hasn’t been put up for sale yet. Long story short, we were planning on waiting until next summer to start the selling/buying process, but this is our perfect home. For further information: he has owned three homes, one also being a foreclosure. Our current home is estimated to sell for $120-130,000. submitted by /u/teahammy [link] [comments]...

We are in the process of closing on a brand new construction. We were suppose to close yesterday, but apparently the city has not issue a permit for the front deck yet. The builders said the city won't give them a set ECD at the moment and that it is in process. So the builder suggested if we contact the city ourselves we might be able to move the process along faster. A friend bought a new build a couple years ago, the company dissolved (changed their name) and they were SOL when it came to the limited warranty. They pointed out our builder's LLC was set to expire the end of year. I went onto our state's secretary of state website and looked up the builders LLC (Pictured) and sure enough, it's set to expire end of year. Should I be worried in my situation? Or is this something the builder could renew at the end of the year? They've been around since 2009 I believe, and are still building new developments around the state submitted by /u/AppleTeslaFanboy [link] [comments]...

Hi All Working with my sellers agent, we listed our condo about 15% less than what we want for it based on agents recommendation. It’s in a super hot part of the Bay Area (20 mins to downtown SF), so agent is convinced this is the best approach. If we don’t get the amount we want do we need to sell? The listing arrangement doesn’t say we need to accept any offer or pay any penalty, but I’m assuming we need to at least reimburse for staging, which the agent otherwise covers. Working with Redfin FWIW submitted by /u/Br0wn_0ut [link] [comments]...

This post originally appeared on CREW Las Vegas' Blog and is republished with permission. Find out how to syndicate your content with theBrokerList. As is customary, our meeting was kicked off by the Pledge of Allegiance, led by Mindy Kermes. Mindy welcomed all of our luncheon guests and introduced them to Agnes Lyons, our chapter ambassador. Agnes does a fabulous job of welcoming guests and answering their questions about membership in our chapter. Thanks to Agnes for all she does to make our guests feel welcome. Thanks to all of our sponsors who make our club what it is, by their ongoing support. Mindy asked we give the sponsors a round of applause. A reminder of our mission: Move our commercial real estate members forward through networking, professional development and to bring us all together.  Announcements: Community Outreach Committee – Wendi Schweigart – We are continuing our fundraiser for school supplies through August 1st. Please go online to our CREW Facebook page or our CREW website to donate through our Amazon Wish List. School starts August 12th, so please make sure to donate as soon as possible. We also have our Three Square event on Saturday, where we will spend time giving back by packing meals for our community. Thank you to everyone who is signed up to attend. Social Events Committee – Brittany Brown – We have so...

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. One of the greatest challenges facing commercial real estate professionals today, is that of attracting new prospects. In fact, it can be downright daunting. After all, you’re asking someone who may not know you from Adam, to trust you with what could ultimately determine the success or failure of their company.No pressure.Easy right? Well it can be. The easy-to-follow tips and suggestions listed below are a good place to start to set your plans to attract more new prospects than you can handle in motion. Target Ideal Clients Focus on attracting existing clients and potential new prospects that can best benefit from your services most. Catering your business and marketing efforts to a segmented, focused niche, will always be money well spent. Ask For Feedback Ask for honest feedback from existing and former (inactive) clients to what you’ve done best, and more importantly — to identify areas for improvement. And while you’re at it, ask them to approve testimonials (which you write) to feature on your website to give your business added credibility. Share Your Knowledge Offering free access to your special sauce is a great way to get prospects in the door, and can help you reap huge dividends down the road....

I’m in a bit of a situation. Some quick background: my home has been on the market about 300 days. I’ve owned it for 4.5 years and have had a home warranty with American Home shield the entire time bc the central AC was very old. Three weeks ago, the unit started struggling to keep up, so I used my warranty for the first time. Repair guys came out and thought they fixed it - it worked a couple of days and then quit again. Called home warranty, they recalled the guys back out and they added Freon this time (out of pocket for me since it’s not covered). Same story. Works a couple of days then quits again. I call home warranty again and they recall the same guys again. This time the guy says the unit is shot (dead compressor) and they need to replace the whole thing. Home warranty is now denying their diagnosis and trying to find a 17 year old Trane OEM compressor to attempt to repair the unit rather than green light the replacement. By some miracle, buyers came through (when the house was 85-90 degrees inside), fell in love and made a full price offer that we accepted. Obviously contingent on the AC being repaired. Their inspection is a week away and I can’t...

I'm considering starting a dome glamping business with a couple friends. We'd like to buy a piece of land for $60-120K, then spend about $100-150K on development (domes, septic, electrical, etc). In the process of putting together a business plan so that we can look into getting funding. Amongst the three of us, we have the marketing covered, as well as plumbing and tourism experience. With our connections, we can get equipment and a lot of materials at cost. The area we are thinking of is untapped with a lot of potential. We're unsure of what funding options we have. I know ACOA and BDC are options, but we only have $20-30K – the rest we need to get funded somehow to make this happen. I know BDC wants 40% to be self funded, but haven't gotten any details on other options. Do we have a shot at getting $150-250K in funding with only $20-30K in personal funds? Is it possible to buy the land as a mortgage, switch to commercial, and use that as our "40%" self funding? Any advice is welcomed! Positive or negative. Thanks! submitted by /u/Kucey0 [link] [comments]...

Hi, as the title states; I purchased my home approximately a year ago and everything has been fine since then. Fast forward to today, I decided to look up my home on realtor.com just because I was bored at work. To my surprise, it says it was last sold this past February for less than what I had purchased it. Clearly this has to be a mistake right? however, what worries me is that I know that Realtor.com pulls most of their data from the MLS, so my question is how can this be possible? Did someone list my home on MLS without my consent and then marked it as sold shortly afterwards? Should I be worried? What steps can I take to protect my home? ​ Thanks. submitted by /u/Worriedandpissedoff [link] [comments]...

This post originally appeared on SimonCRE Insights Blog and is republished with permission. Find out how to syndicate your content with theBrokerList. The threat of the “Retail Apocalypse” has been oversaturating the news headlines for the past few years, but nevertheless when news breaks about J.C. Penney, Toys “R” Us, Charlotte Russe, Payless ShoeSource Inc., and Charming Charlie store closures and bankruptcies — it’s understandable to grow more wary of the future of retail.    However, if handled correctly, the retail industry, much like the journalism industry, is not dying due to the internet — but shifting.  Here are some lessons learned from recent retail case studies as well as insight into how the industrial sector has been conversely affected by e-commerce.   Lesson: You can’t just cut costs. Companies whose plan of action if things go south would be to only cut costs will not succeed in these changing times. The focus should instead be on how in-person experiences must become more engaging than online shopping is convenient.  Case Study: Dollar General may be a discount retailer but it’s sparing no expense to keep up with the demands of its customer base. To stay competitive with discount grocery chains such as Walmart and Aldi, Dollar General will supply more fresh produce and refrigerated foods as well as offer self-checkout and pick up in store options.  Lesson: Expanding the store footprint...

Edit: Thank you all for your input. You've given me the warm n fuzzies regarding this situation. As we plan to be gone within the year, I don't think we'll be doing this specific non-refinance, but we will definitely be talking to a few lenders. It's an FHA loan and they're adamant about this not being a refinance and want to lower my interest rate 1/2 a percent. They say it's really good for me, it'll lower my payment by $70 a month, I'll get to skip a payment, and it'll only cost us $800 out of pocket, blah blah blah. I'm skeptical because they're a bank and interest rates affect their bottom line so why would they want less of our money? Has anyone dealt with this recently? submitted by /u/GunkmasterFlash [link] [comments]...

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. The new lease standards have already gone into effect for public companies and the deadline for private companies is around the corner. The new regulations now require accountants to be more transparent – lease assets and liabilities must now be accounted for. Tracking your leases as a tenant, or a lessee in accounting, is certainly possible with an Excel spreadsheet or Google Sheets. However, the new standards mean that lease tracking will certainly be more difficult for your business using programs like these. This is especially true if the number of leases you have is in the double or triple digits, so implementing lease accounting software to help with tracking can streamline and improve your lease administration processes. Data intelligence Under the new guidance, all companies with audited financial statements must now track and report their lease assets and liabilities. Because of the amount of documentation needed to stay compliant, accountants will be forced to take a hard look at their current software and processes to see if it is robust enough to track all their leases. With software built specifically for leases comes a certain intelligence that can benefit real estate and facilities groups in addition to...

According to NAR: 5.34 million homes were sold in 2018, according to data from the National Association of REALTORS®. 667,000 newly constructed homes were sold in 2018, according to the U.S. Census Bureau. (https://www.nar.realtor/research-and-statistics/quick-real-estate-statistics) I'm trying to find out how many homes were LISTED in 2018. I contacted NAR and they said they don't have this information. Could anyone help me track this number down? Or if I knew what % of listings are removed without selling I could calculate this number. I appreciate any help, thanks! submitted by /u/propellerhead-web [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. The fact that more corporations are leaning towards using flexible office spaces to operate is nothing but good news for a co-working giant like WeWork, however the company has it sights set on doing more than just providing businesses with flexible leasing options, writes Bisnow’s Matthew Rothstein. After WeWork acquired startups like Teem and Euclid through its umbrella company, The We Company, it developed a platform of workplace tracking technology that breaks down office workers’ movements down to granular levels. While WeWork’s offices are testing Teem and Euclid’s features, it’s expected they’ll soon be part of the toolbox Powered by We’s consulting division is already using. WeWork designs and manages offices for major companies like UBS in New Jersey and Amazon in England to make them look and feel more like a WeWork by using Powered by We. The company’s tracking technology, which includes motion and thermal sensors, along with Bluetooth pinging, improves these WeWork spaces. According to a Bloomberg article, WeWork Chief Technology Officer Shiva Rajaraman called it “the Google Analytics of space,” A New York law firm hired Powered by We to determine if it needed more conference room space. The company conducted a test by putting thermal sensors...

Some additional info: I live in Utah. I’m a new agent and still pretty green. This was technically my first transaction. I will be speaking with my broker tomorrow to get some additional guidance. But, I’d love to hear some additional opinions. Any and all advice would be greatly appreciated! submitted by /u/grandfatherfunk [link] [comments]...

There is some free land that might be bought up by a company to build offices and apartments. It is near my town so I am wondering how I could invest in a local REIT based on that town or area as an investment opportunity. Basically if I know a company is looking to buy land, how can I take up an investment opportunity with it? Any ideas? submitted by /u/clippy300 [link] [comments]...

I am a college student renting a room from an elderly lady who owns an affordable housing unit. She is illegally renting out the room to me and she keeps flip flopping on her word and keeps coming back to the apartment when she said she would give me notice beforehand. She refuses to let me change any decor (she has 20+ mirrors in a 600 square foot apartment and it is TERRIFYING. She's insanely paranoid and I do not want to live here anymore as it is also illegal for her to rent me the room. She made me sign a contract saying I had to give her a 30 day notice but seeing as this renting is illegal, can I move out any time and get my rent/deposit back? submitted by /u/hippiedips [link] [comments]...

I know I am not the first person to ask this, but I have some unique issues. The house has an in ground pool and the city requires a full demo. House would be worth around $150k if it was in good shape. But is is awful, no maintenance, full of junk. Neighbor has offered to buy for the mortgage, which is about 20k. We called few we buy houses for cash and they do not seem interested. It does have aluminum siding and some other stuff worth salvaging. Any tips for handling this? The estate has some cash, so I would prefer not to just walk away. submitted by /u/becuz-i-said-so [link] [comments]...

Hey guys, so to start off, I’m taking over a family business that involves multi family housing; ranging from 2-8 units per building with a total of 50 units. The problem is that all the piping, walls, and pretty much everything else is very outdated. Don’t get me wrong, most of the interiors of the apartment are somewhat new and renovated such as new laminated flooring and cabinets, but a lot of the guts of the building are starting to rot, and to be fair they were built in the early 1900’s. Getting straight to the point, I’m stuck on deciding what to do. Has anybody had a similar experience? If so, please, let me know. Thank you! :) submitted by /u/Cookies_N_Milf420 [link] [comments]...

This post originally appeared on Buildout's Blog and is republished with permission. Find out how to syndicate your content with theBrokerList. Buildout’s co-founder and CEO Vishu Ramanathan marked the launch of the 2018 DNA of #CRE Reports by sitting down for an interview and offering his personal thoughts on the results, where tech in commercial real estate is today, and where he thinks it’s headed. Buildout: What was the conversation around CRE tech like when Buildout was first getting started? Vishu: Back in 2010, the message was, “tech…it exists!” And that was barely true because nothing that existed back then was built for commercial real estate and had largely been rejected by the industry. This story had emerged about brokers being reluctant to embrace tech but we saw that wasn’t true—brokers are just too driven and savvy to waste their time on tools not suited for their needs. Tech then wasn’t built for them. It was up to us to show them how tech built specifically for brokers could be useful and overcome any resistance they had. Buildout: How would you describe the current state of CRE tech? Vishu: It’s extremely fragmented. The fact is, a few years ago there was excitement about the potential for success in CRE tech and a ton of investment was made that resulted in a whole bunch of companies that struggled...

This post originally appeared on Marketplace Advertiser, Reonomy and is republished with permission. Find out how to syndicate your content with theBrokerList. A property owner list is an incredibly useful resource that can determine the quality of prospects, and therefore the quality of business you bring in on a regular basis. The problem is that, until very recently, it has remained a time-consuming and difficult process to get right. In this article, we’ll take a look at the main hurdles that you may experience when building a targeted list of property owners, and how you can swiftly leap over those hurdles with ease using technology. Property Owner List There are a great variety of professional types that build property owner lists. Brokers, roofers, appraisers, insurance providers, and lender originators, for example, all rely heavily on finding and contacting property owner leads. The thing is, they’re all seeking a different set of characteristics of an owner or portfolio, and will therefore go about building their owner list in different ways, using different resources. Because of that, the best practices of how to build a list of property owners have remained a bit amorphous. The one consistency, however, has always been that, regardless of the type of owner you’re looking for, the hurdles you run into when building a list are largely the same. The typical hurdles to building a property owner list: The...

Looking to put up luxurious condos on the water front, I spoke to some big developers who utilize grants to get their projects going, but for some reason they treat it like a secret. If anyone can lead me in the right direction it would be appreciated Thanks in advance submitted by /u/Issa-N [link] [comments]...

Just out of curiosity, do seller realtors encourage using listening devices during open houses or showings? I feel like they already had all the information before we talked to them. Kinda sketchy feeling...

Let's get this out of the way first: I am a super passive 27-year old woman who tends to defer to authority figures very easily, I hate hurting anyone's feelings/disappointing others, etc. I'm working on this with a professional, so before you say, "Get a therapist," please know I already have one! I found this realtor randomly on Zillow when I had a question about a house I saw. That was three years ago. She's in her 50s and has some solid experience but I don't think she's a super well-known agent in my area. I had her show me about three houses in 2016 but then I found an apartment I loved, so I backed off from house shopping. She continued to check in and follow up with me periodically but I was pretty happy in my apartment. About four months ago, I contacted her because I wanted to start looking for a house again. I had her show me two houses. For the last one she showed me, I did like it but I wasn't in love with it. She laid the pressure on very thick. While I was perusing the house, she was calling the listing agent to inquire about their timeline, if they had other offers, telling the listing agent that I was very interested. As we...

Background: Purchased my first property back in March of this year, currently using it as a rental make about 60 bucks a month from it. Pretty much just collecting equity. I’m now wanting to purchase a home for my grandmother, I would have her move into the rental but it sits in quite a bit of land and she’s getting too old for all of that. Looking to purchase something smaller and probably a little cheaper, putting at least 20% down. My main question is how financing would work considering I just purchased a home. My income alone wouldn’t support two mortgages, however since the first one is a rental would it still be considered in my DTI? Or would I have to wait until I’ve filed taxes for a couple of years to show that income? submitted by /u/0tterbaby [link] [comments]...

This post originally appeared on Marketplace Advertiser, ClientLook and is republished with permission. Find out how to syndicate your content with theBrokerList. How CRE Professionals Can Benefit From Blogging If you don’t have your own CRE blog yet, you’re missing out. Not only is blogging a great way to reach potential clients, but it’s also an inexpensive way to market your business. Here are a few of the perks of starting your own commercial real estate blog: You Control The Message In many cases, the company that you work for will have a blog on their main website. While that’s a great way to drive traffic to the company site, it’s probably not helping you very much since company blog posts rarely focus on one specific broker (or team) in the office. They aren’t talking about your expertise, your listings, or how you can help potential clients; but you can be! When you have your own blog, you control the message. You can write about whatever you want to focus on, and ultimately you can reap the rewards of your work. (Related post: Why You Need A Blog For Your Commercial Real Estate Business) You Pick The Topic Maybe you’ve thought about starting a blog before, but you always stop short because you don’t know what to write about. In general, you want to keep your blog focused on...

I just finished an addition that added a bedroom and bath on the first floor, and a rec room/bedroom and bath in the basement. The old bathroom needs to either be gutted and renovated (built in 1952 and never updated), or repurposed. It's next to the kitchen, so I'm thinking about taking out the bathroom (40 sq ft) and expanding the kitchen (140 sq ft) or adding a pantry. Another option is to convert the bathroom space into a laundry room. Which would give me the best return on investment? The house, with the addition and current bath is three bedroom and three bathrooms. It's a ranch with a two car garage and a finished basement. Edit: One other idea is to take out the bathroom and put in a front door. I'm in central New England. Here's a link to to floor plans. A little blurry. Sorry. https://imgur.com/gallery/a0EkGi9 submitted by /u/1Os [link] [comments]...

I bought a house in GA. Every single document and appraisal says it’s a 3 bedroom but to me it’s clearly a 4 bedroom. How do I get this fixed for when I decide to sell it down the road? Why has it never been a 4 bedroom? All the rooms have windows and a closet. It’s a single story home on a slab. The single difference in one bedroom is that the closet doesn’t have a rod across it. It has a door on the closet and shelves on the side a rod could easily be added it just never was. Can anyone tell me what is going on here? submitted by /u/spiffydew [link] [comments]...

I’m buying a house with a small amount of land. The sellers have a nice zero turn mower, I asked for this in my original offer. They accepted. Underwriters told me to sign an addendum taking the mower out. Wrote in the addendum they would sell me the mower for $1 after closing on the house. Loan officer was fine with this. Today they told me it has to be completely removed from the contract. What can I do to gurantee I get the mower? Verbally tell the sellers I’ll refuse to close if they take it for some reason? In that scenario I know I would be in breach of the contract. The mower is probably worth ~5000 dollars. I wish I would’ve just asked for that off the asking price in the first place and avoided this. submitted by /u/LyfSkills [link] [comments]...

This post originally appeared on Marketplace Advertiser, Alliance CRE Advisor's Blog and is republished with permission. Find out how to syndicate your content with theBrokerList. Real estate offices are often considered a lesser-valued investment for companies by people outside the industry. However, the truth is that office placement and design are among the most important things for any real estate company. Obviously, if you are dealing in property investments and finance, the office you operate from should reflect the caliber of your business. Choosing the right location, among other factors for a real estate office, can be a complicated matter. You need to understand how to get the best value for your investment, as with all things. In this blog post we will present five factors for you to consider as you calculate the ideal location for your office. 5 Considerations for Getting the Perfect Real Estate Office 1. Accessibility If you wish to invest in office space, you need to get maximum promotional value from this property. And the best way to get this done is to get an office where your brand name, and possibly logo, are clearly visible. This will help you create your presence in the local market and also make an impression on any parties who wish to visit your office. This is the first consideration you should make for your office,...

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. Do you ever feel like there just aren’t enough hours in the day? As the world around us gets busier and busier, it happens to all of us – no matter how much time we spend working, sometimes it can seem impossible to get everything done.  Everyone can strive to be more productive in our professional lives. This is especially true for CRE agents, who navigate through a very busy industry. There always seems to be so much to do, but so little time to get it done.  In order to help combat this common pain point, our team at RealNex has compiled these all-star tips from today’s biggest inspirational leaders.  Establish Specified Time Blocks  CRE agents are faced with the unique challenge of juggling many different tasks simultaneously. When projects are fragmented into many areas, unifying them is a key to success. In order to ensure you’re meeting each and every deadline, take some advice from Tony Robbins.  Robbins says that it’s imperative to block off time for specific tasks. Dedicating time for your most pressing assignments helps prevent other things from leaking in and interrupting the flow, which can inhibit you from meeting deadlines. As an agent, it’s...

I made a post here a couple months ago looking for advice on some issues we were having with our seller while under contract. The gist of that whole thing was basically he reached out to us and offered to sell us his unlisted FSBO house, it was perfect for us so we agreed. At some point we realized he had misrepresented a nonfunctional bathroom as being functional and when we asked how that would be resolved he got very upset, decided he didn’t want to sell to us, stopped interacting with us directly, and hired a lawyer to help do whatever they could to kill the deal. We really did not want to let the house go so we hung on for dear life while our agent worked miracles, and ended up closing June 28. The guy we bought the house from owns the house next door so he is still our neighbor until he sells that house in a year or two probably. Fuck that guy. Anyway, the day of closing we ran the dishwasher and in the evening I noticed the excess water had not drained. Then I realized the kitchen sink was clogged. It would all slowly drain over hours, but the sink and dish washer were essentially unusable. None of that showed up in the inspection a...

This is probably more of a rant than anything, but we bought our first house (NorCal) last Fall and have just gotten around to doing some major landscaping (major for us -- it is a tiny place). As we pulled out a bush, we found a long PVC pipe draining into the yard that suspiciously went back around to the back of the house. It turns out that it is the washer drain. We already knew the washer/dryer were shoddily put in (they are in a quasi-shed on our back deck, and the dryer vent is a nightmare), but we never thought to check on the drainage. I am guessing that it is way too late to do anything about it with regard to the previous owners (and they were a piece of work -- the place was a mess when they vacated, and their agent ended up having to get haulers to come in and remove a couple of tons of garbage they left behind). I'm not looking forward to getting a plumber in to fix it, but that's the next step. My question (for the future): when should something like this get recognized? Should the inspector have found it? Should we have done more due diligence in looking for things like that? Should our agent have done more? Thanks! ...

I dont intend to allow dogs in my units, but undoubtably I will encounter an ESA in my adventures as a landlord sooner or later. What are some good things you can do to "dog-proof" a rental? Specifically, are there building materials that tend to hold up better to damage done by dogs? submitted by /u/dick_chiggers [link] [comments]...

I'm starting a long procrastinated decision to buy my first home. I'm meeting with a buyer's agent this week. I have enough for over a 10% down payment within my preferred price range + a nice cushion for potential closing costs. Solid credit score and employment history. A few questions: If I put 10% down now, do I stop paying PMI after I hit 80% equity (basically my plan right now is either pay it for a few months until my end of year bonus comes in or ask family to borrow the other 10% from family and pay them back asap) What types of mortgages are best vs which are the best to stay away from? Is there an advantage to using a mortgage broker? What about big bank vs local credit union? What questions should I ask my buyer's agent? What questions will she ask me? My goal is to have the best long-run deal. Obviously avoiding PMI is a good way to do that. I assume that 15-year fixed would be better than 30-year fixed. ​ Thank you! submitted by /u/WafflesTheBadger [link] [comments]...

My parents are retired looking at houses in Georgia for the two of them, and they have their mind set on a newly constructed 5 bedroom house in a good school district. Their reasoning is that "it'll sell quicker" if they want to sell it. Not only are they borrowing money from my sister and me to afford it, but also getting a mortgage, when they could afford a smaller house that's not in a good school district on their own. I absolutely love my parents and would support almost anything they do, but I feel like they're being led by some bad advice. Is there really any sense to buying a house too big for you in a neighborhood that's expensive for reasons that aren't right for you, just so the house would hold its value / selling power? I'd appreciate any kind of advice, or a nod towards any relevant resources. Thanks. submitted by /u/treqwe123 [link] [comments]...

Our house went up for sale and we got two full-price contracts within 24 hours. Apparently we chose the wrong one. First time buyer I think got cold feet, because she backed out after the inspection. (House is 32 years old, yes there were some problems but pretty minor ones, some because that wasn't code when the house was built. We fixed some issues, gave a home warranty and some $$$, but she still backed out. I think, good old fashioned buyer's remorse.) Problem is, after your house is under contract, it disappears off Zillow and then when it went back up it said it had been on the market for 16 days even though it was only 1. This sucks for getting any other full-price offer as now people think we haven't gotten any offers. (Of course the other people that put in a contract had already put in a contract on something else.) We have shown five more times and not gotten any feedback whatsoever. Is there anything I can do to help boost the sale? We closed on the new house this week and I don't want to be owning two houses...

Hey guys, I posted about this situation a couple months ago I believe but things have taken a pretty crazy turn. I have a habit of getting carried away with writing out every little detail, so I'll condense everything to a couple paragraphs the best I can. ​ Tl;dr: I'm renting a foreclosed property - the bank who purchased it, due to a technical error (I presume), stands to make a 100% or more profit, possibly in the 7 figure range. Using this knowledge and knowledge of my TOPA rights, could I ask for a much higher cash for keys sum than what they were initially offering? I'm a bona fide tenant and it's extremely unlikely under DC law that they will be able to evict me at all. ​ DC landlord-tenant law is extremely skewed in favor of the tenant, in case you aren't familiar with our local laws. I am on a month to month lease in a recently foreclosed and auctioned property - foreclosure is not a valid reason for eviction here, and the landlord can't terminate a month to month lease without a violation of said lease, unlike in many other states where they can end it at any time with fair notice. The ex-owner of the property is being sued for possession, but she doesn't actually live...

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. Just about every website owner has found themselves wondering why their Google rankings aren’t as high as expected. You may be one of those who are trying to figure out why their website isn’t ranking well. You may be getting a little website traffic and you may have even implemented SEO tactics in your marketing strategy. So, why is your website on the second, third or even fourth page of Google’s search results? This blog post will help you figure out the answer to that question. Low-Quality Content Google will penalize websites by lowering their search result rankings if the website is of low-quality. Google has developed an algorithm that detects whether or not a human will enjoy what they see on a website. Make sure you are only publishing content you would read, even if you had not published the content yourself. Your content doesn’t have to be the best of the best for Google to rank your website, but do put in some effort when publishing content. Using Highly Competitive Keywords If you run your own website, you’ve hopefully heard of the marketing tactic called search engine optimization, or “SEO” for short. Practicing SEO is a great...

We inherited my in laws home. We are planning on selling the home. My late father in law added a large room onto the house over 30 years ago. My husband is pretty sure he did not get a permit. It does not show up on the couny assessor's website. Will this cause problems with the sale of the home? submitted by /u/zim3019 [link] [comments]...

House is not closed yet. Still my house. There is a lot more to this story but I am trying to keep it brief as this is probably a huge legal issue and who knows maybe my buyers or their realtor use Reddit? The buyer's realtor gave the buyers my house key and they moved in before close. They asked if they could move in and we said no. I found out they were already living there when they asked us this. They were caught living in my house and left. I think they might have copied the key or something though I'm skeptical about them being really gone. They have lived there rent free and used a ton of electricity like I do not even understand how they managed to rack up the utilities this much. Based on what my neighbors have told me, I suspect my house might have incurred damage while they lived there illegally. What steps should I take against the realtor and the buyers? This is so fucked. House is supposed to close soon. submitted by /u/naked-- [link] [comments]...

My realtor has had my house on the market for four months of a 6 month contract. We went into contract with a buyer at asking price. After inspection, the buyer backed out with zero negotiation. A month later I have lost faith in my realty company. I want to pay the $1000 to cancel the contract and move on. I’m being told by my realtor that because he brought an offer at asking, he has fulfilled his obligation to the contract and he is entitled to the full commission. Thoughts? submitted by /u/worst_episode__ever [link] [comments]...

This post originally appeared on Buildout's Blog and is republished with permission. Find out how to syndicate your content with theBrokerList. Buildout Branding Director Sonni Conway breaks down how her team redesigned our new logo and how a brokerage could approach the process. Sonni (right) with TheBrokerList’s Linda Day Harrison (left) as part of the #LetsGetSmart19 podcast series at ICSC RECon Buildout: Why is it important for your brand and your logo to evolve over time? Sonni: Your brand is your company. It’s everything you do: your logo, your marketing, your customer service. [Buildout CCO] Kris loves the quote that “your brand is what people say about you when you’re not in the room.” When I worked in a brokerage, if prospects weren’t a direct referral, their first impression of us was through our logo. It’s the first thing they see on a website and it represents the level of quality they’ll experience working with you and your company. That’s why your logo has to grow with you. We’re not standing still as a company—Buildout gets better every day. So the logo we started with originally doesn’t necessarily match everything we are as a company now. Buildout: How did you decide that now was the right time for Buildout to update our logo? Sonni: We follow design industry trends and best practices pretty closely, and we saw that most companies...

The future of the shopping center depends on its tenants ability to connect with buyers. Consumers have lots of online retail buying opportunities. Shopping centers who are engaging with consumers directly are proving to be more prosperous than those not doing anything. Events sponsored by shopping centers can realize community functions such as increased social interaction and strengthen social bonds. Some centers are serving as a public place to gather by holding different kinds of events such as a farmers market, car show, art sales, charity drives, outdoor theater, and pet adoption. Some centers focus on holding events to bring in young kids, and therefore their consuming parents: Mommy Monday’s, Toddler Tuesday’s. Tenants can participate in these special days by adding coupons or freebies to giveaway goodie bags. It’s now the consumer experience that counts for shopping centers. Shopping centers that secure a spot as the unofficial heart and soul of the community are crushing it. The best centers are remaining true to their original appeal as fun, safe places for a community to gather and enjoy experiences outside the home. This connection cannot be replicated online. RSS Feed provided by theBrokerList Blog - theBrokerList for commercial real estate brokers (cre) and Shopping Center Survival was written by Robert Tack. ...

So I'm new to real estate and still learning, but I was wondering how realistic I'm being. I am looking at buying a property for 8k. From there I plan on building a nice container home (I have a connection for the containers so cost isn't an issue) and flipping it. The lot I'm looking at is 10,000 sqft and my plans for the house are looking to be around 1100 sqft. Could I flip something like that for a nice profit? submitted by /u/tyrellread08 [link] [comments]...

Please, for the love of God be weary of wiring your down payment to the title company. I say this as a title company employee, who just today had 2 instances of wire fraud occur at our office. The first someone had hacked the email between our office and the buyer and altered our wire instructions. The second an agent forwarded our instructions to the buyer who then wired his money ($75k) to a fraudulent account. If your title company is wants you to wire funds, only accept via fax and call and confirm with 2 people in the office that they are correct- or if possible get the instructions in person. submitted by /u/jnoel01 [link] [comments]...

What a relief it is to finally be here! We sold our first home on July 31st and have been housesitting for the past 9 days waiting to close on our new home. It definitely didn’t help that I am 38 weeks pregnant with our first baby. Everything is in storage and we’re living out of our suitcases. Pets are scattered amongst the family. It was definitely not ideal to do things this way, and I’ve been stressing every possible “what if” while we were sitting here in limbo. But today my new mortgage showed up in my account and despite the increased debt, it is such a relief! Moving day is tomorrow!! And the house is beautiful. A brand new home, something we never saw ourselves affording when we bought our first little townhome 3 years ago. Just had to share my excitement. submitted by /u/xxlcraig [link] [comments]...

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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