Archive for July, 2009
Jul
15
Unbiased Opinions About Commercial Land for Sale in Houston
Posted by: | CommentsHouston may seem like a city past the development stage, but the growth of this bustling metropolis is far from over. In fact, recent years have seen a boom in commercial real estate Houston and in the number of residential properties being built. If you are looking to invest in commercial land for sale Houston, now is the perfect time to do so. But before you begin, there are some tips that will help you to get the biggest bang for your investment buck.
First, master planned communities are the new hot commodity in the Houston area, both for residential and commercial investments. If you are on the hunt for commercial land for sale Houston, begin with a search of the new master planned communities in the area. These neighborhoods will include property for residential development as well as numerous retail sites. The retail pads that are available in these communities show great potential for profit margins in the center of these busy communities.
A good way to get in on the ground floor (so to speak) of commercial real estate Houston is to purchase as much ground lease for sale as possible while you can. Ground leases allow an investor to purchase the land itself and then rent it to a developer that will build upon the site. Ground leases can range from five to 30 years, and can be a tremendous benefit to those who can afford to invest in the land but do not have the capital to put into developing a building.
Another good way to invest in commercial real estate Houston is by a triple net lease that will allow you to rent your property without the worry of taxes, insurance or upkeep on it. The tenant is responsible for all of the above, and will do so with great care since a well-maintained site is essential to building and keeping business. Triple net leases are generally longer terms that can go as high as 50 years in some cases. The benefit to the tenant is the ability to perform updates to the property as an owner would without the high cost of ownership.
While either of these types of real estate investments comes with numerous advantages, there are risks involved as well. The best advice is to speak with both commercial real estate agents and attorneys before making the move on commercial land for sale Houston.
Rent Back Fast
Jul
14
Lease Commercial Property London
Posted by: | CommentsLeasing commercial property in London is a whole different ball game from leasing commercial property in other areas of the United Kingdom. There are many pitfalls which leasers may miss if they are not familiar with this area of the market. If you are looking for a commercial property London then contacting a local property agent in London will ensure you are aware of the best locations and the kinds of price variations to expect in the area, as well as any other useful tid bits insider knowledge can get you. This will make sure that you get the best deal for you and that you are aware of the benefits and pitfalls from other local businesses before you take up residence.
So here is an overview about each major type of commercial property. The main areas of the commercial property market are shops, industrial units, and offices.
Industrial units in the commercial property sector are most often available on flexible contracts and as a less competitive commercial property area you can come across some quite good lease deals. If you are thinking of leasing industrial property in London you will expect to pay the premium for the capital city location which is also why it is extremely important to find a commercial property specialist who can help you benefit from their expertise and assistance you in negotiating the best deal, they can even draw up a contract on your behalf.
Leasing commercial property in the form of retail shops is an extreme factor when assessing the possible success or failure of your business. Knowing your commercial property’s location inside out is essential as choosing the wrong location can mean instant stigma attached to your property. This can be a good thing, such as a commercial property Covent Garden address, or it could be bad if you are in an unpopular area with a high crime rate.
A further popular use of commercial property is the classic serviced office space. London is full of serviced office space and it is a really popular route to pursue as a serviced office provides a whole range of different benefits. Serviced office space London is popular firstly due to only having to pay one total sum of money for the rental of your serviced office which includes all bills such as electricity, heating, internet, cleaning, and manned reception. This not only saves hassle but makes sense as you have less need to use up precious time sorting out all those mundane bills. It means there are no unwanted hidden charges and you can focus on the more important things, like work! It is also great not to have to worry about cleaning, like the windows or emptying bins, as in a London serviced office all this is done as part of the deal!
Quick House Sale
Jul
11
For Agents And Brokers: Simple Guide To Selling Your Commercial Real Estate
Posted by: | CommentsIf you are just starting out as a real estate agent, it can be difficult to get started selling commercial real estate. However, commercial real estate is the big money maker in the real estate business. Since commercial real estate has become quite popular since it is such a money maker, it can be difficult and expensive to get started in this type of real estate. There are, however, a variety of ways that you can get started and start getting more commercial real estate deals if you are willing to do a little work.
Online Free Ads
One great way that you can get started in selling commercial real estate as an agent is to use inexpensive methods of advertisement. One great way to get the word out there about the property you are trying to sell is to use free online ads. There are a variety of different websites that are available for you to post classified ads on that list a property, or even multiple properties for sale, and the great thing is, you will not have to pay a penny. Not only is this a cheap way of exposure, but it is also a quick way to get your property noticed. Many times, your ad will be seen quicker when you put it on the web and by many more people. Local newspapers take more time and money to get you the exposure and only reach a local group of people, while advertising with free online ads can get your world wide exposure and help you sell the commercial property.
Free Real Estate Publications
Another way that newer real estate agents can get their commercial properties noticed is to advertise them in free local real estate publications. Whether it is a publication specifically for real estate or a publication that only includes real estate, this is a great way to advertise your property for free. This is an excellent way to gain local exposure, not only for the commercial property you are trying to sell, but also for you as an agent. Make sure that you continue to run ads for your property in these types of publications. Even though at first you may not see results, remember that many times it takes awhile for commercial real estate to sell, but perseverance can lead to a large pay off when you finally sell the property.
Quality Signs
If you are trying to sell a commercial property, especially one that is near a well traveled road, you may want to invest in a quality sign to advertise the commercial property. A small unprofessional sign may not attract any attention at all, but a larger sign that is well crafted and attractive can get the attention of many people who are driving by. You never know who may drive by the property and see your sign. While it will take a bit of money to get a great sign, it will be worth the money that you spend to get your property noticed. One never knows when a local business will need a new site, or someone with money to invest will be looking for an opportunity, and your sign will make sure that they will see your property when they drive by, which may lead to a sale.
Establish Business Connections
As a new real estate agent, one of the best things that you can do is to start establishing business connections with a variety of different people. Speak with other real estate agents that are successful in selling commercial real estate and learn from their mistakes and their successes. Also try to get involved with local business people and know the market that you are trying to sell in. Often, if you can get the word out that you have a great piece of commercial property, it may spread to the right business people that will want to check it out. A great deal of being successful in the commercial real estate market has to do with the connections that you have, so work on making various business connections.
Find Your Own Leads
Even if you are working in a broker’s office, you should not expect the leads to be coming your way within the office. More than likely any leads within the office will be given to someone with more experience in commercial real estate until you have proven yourself to excel in this field. You will have to take the initiative to get the job done, and it is possible with a great deal of hard work. Check out the Chamber of Commerce in your area and find out who the business people are. You may also want to attend local zoning meetings where you will meet prospective investors who are looking for great properties. Even hitting up your local golf courses can help you make friends with local business people who may be prospective clients.
While it may be difficult to get started as an agent in commercial real estate, it is definitely possible if you are willing to work hard. Using the internet to advertise as well as free local publications can get the word out quickly and inexpensively so you will save money and get a broader base of exposure for what you are selling. Signs will also provide great exposure and show that you are serious about the commercial real estate business. Also important is making the right contacts and finding your own leads so you can excel in this business and prove to be a great commercial real estate agent. There is a great deal of money to be made in the commercial real estate industry, and hard work, dedication, and patience on your part can help you become successful.
Rent Back Fast
Jul
11
Commercial Grade Espresso Machines Make the Best Espressos
Posted by: | CommentsDo you own a restaurant, diner or coffee shop? If you do, then you have no doubt had customers requesting espressos. If you have a lot of customers wanting the best espresso that money can buy, then you owe it to yourself to invest in a commercial grade espresso machine. A commercial grade espresso machine will not only churn out espressos with record speed to handle the large influx of customers, but you’ll also get the best espressos that can only come from such a machine. Once word gets out that your store is offering a great and consistent cup of espresso, you will have customers beating down your door. If you don’t believe me just take a look the growth chart of Starbucks stores across the country, although..they grew a bit too fast and had to close a few of their stores recently.
How To Compete
Coffee shops have quickly become the in thing. Places like Starbucks, McDonals and Dunkin Donuts all offer a high priced, high quality coffee, and many are now also offering espressos. The only way to compete with these big named places, however, is by offering your espressos made from commercial grade espresso machines, although you may have to start out by offering them much cheaper than these big name competitors. You will be able to afford to offer them cheaper when you start pumping out espresso after espresso with your commercial grade espresso machine. Most commercial grade machines are ultra powered so they can make espressos faster and because your overhead is likely lower than the big named places, you can offer them cheaper. If customers find out you offer a equal or superior product at a much lower price they will convert to your brand in no time and word will quickly spread about your great espresso.
Advertising
Once you get a commercial grade espresso machine, and start churning out espresso after espresso you will need to make sure you advertise heavily that your store is offering great espressos at a lower cost than your competitors. America is crazy about its caffeine and you’ll likely have customers lining up just to get their caffeine fix. When they see how fast you can make espressos, and how good they are, when they are made from a commercial grade espresso machine, the customers will flock to your establishment like you wouldn’t believe.
Increase Your Business
It’s a proven fact that once you have a commercial grade machine you can expect an influx of customers to your business. Most coffee shops are busy all of the time. Many have created an environment for people to come and relax. Many shops now offer free internet access and may offer books for sale or have magazines and newspapers available for their customers to read. Remember, the longer they stay, the more espressos they will drink and the more money you will make. So get on the ball and purchase a commercial espresso machine for your establishment and start increasing your sales today.
Quick Property Sale
Jul
09
Creditors, What You Know About Them?
Posted by: | CommentsCreditors must give certain information to you during the application process. The law also limits the creditor’s ability to change the conditions of the loan. They lend funds to debtors that lead to creation of one or other of the financial instruments listed above.
The amount of the debtor’s liability to the creditor at any point of time may be described as
the principal outstanding. They are focused on one thing: collecting their unsecured debt. The phone calls, collection letters, and lawsuits will continue until you take legal action to have them stopped.
Creditors who don’t receive payments will report the missing payments to a credit bureau for the debtor’s credit report. A good credit report tells creditors that the person who borrows money can be trusted to pay his or her debts. They are prevented from taking any actions to collect debts until the stay is lifted by the bankruptcy court. See the Bankruptcy page for more information. They rarely seize household goods because they have little market value, it is hard to take them without court process, and using the courts is time consuming and expensive.
They use these agencies when the debtor refuses to pay, avoids the creditor’s demands or becomes hard to find. With some creditors this procedure is automatic. Creditors must stop making calls to you, stop sending letters, stop all lawsuits to collect, etc.
Creditors, including judgment creditors, can’t do or say certain things. For example, commercial debt collection agencies and persons who regularly collect their own debts are generally prohibited from making false or misleading statements to collect a consumer debt.
They are encouraged to file civil actions for the return of non-Indian property in Tribal Court and follow the procedure for repossession set out in this Chapter. However, State court repossession judgments involving non-Indian defendants may be given full faith and credit if the standards of Chapter 5 are satisfied. Credit is an excellent and convenient source of funds in an emergency or for planned purchases.
It is also a common trap that many people fall into at least once in their life. Creditors are listed on the schedules filed in conjunction with each bankruptcy case, and, in order to be on the schedules, the entity or individual must have a claim.
Creditors are sometimes willing to settle on delinquent debt for a percentage of the balance owed. The creditor typically requires that the settlement be paid in a lump sum. They in such matters should seek the advice of counsel.
Real Estate Proffessionals
Jul
09
Purchasing Your Commercial Investment Property
Posted by: | CommentsOnce you’ve found a commercial investment property you think you may want to invest in, you’ll need to negotiate with the seller and do some thorough investigation to verify information you’ve been given, and to pick up anything that may not have been revealed or been obvious on the surface. This process can be considerably more involved with commercial property investment than residential property investment.
There are 5 basic steps you need to take when negotiating and purchasing a commercial property.
Negotiate with the seller
Exchange conditional contracts, including being subject to finance
Do your due diligence on every aspect that may impact the value of the property (you can get help with this step from professionals with experience in this area)
Fine-tune the contract if necessary
Settle the purchase of the property.
As with any investment the single, most important factor in protecting the long term value of your commercial property investment is to buy well in the first place. It’s much easier to do your research and make an educated selection of property to purchase than it is to improve an under-performing commercial property investment after it’s been purchased. If you’ve paid absolute top dollar, it may be difficult to see value for money in efforts to add value.
Negotiating With The Seller
You want to develop a ‘street-smart’ position that will enable you to hold your own in negotiations to purchase a commercial investment property. If you can’t get what you want through the front door, turn around and see what you can get through the back or side doors! In other words, there is more to negotiation than the purchase price of the property and other ways you can secure your profit before you buy. If you are unable to gain the advantage you want in the price or in other ways (the length of the settlement period, vendor financing, income guarantees from the vendor, etc), you may need to re-think whether the property is the right one for you. You need a ‘take it or leave it’ mentality when negotiating the purchase of an investment property and prior to making a binding commitment with your signature on a contract.
Doing Your Due Diligence
Step 3 of the negotiating and purchasing process requires that you do your due diligence. What exactly does that mean? If the property you are looking to purchase currently has tenants, go and speak with them! How happy are they, what kind of problems do they have with the property, are they willing to extend their lease or are they unhappy and planning to move? These are answers that will help you as the future owner; but they’re also important when deciding on whether or not to purchase the property to begin with.
During this investigation stage, be sure to also check out:
l the title
condition of the building
running costs of the building (actual, documented costs, not just ‘industry averages’)
building efficiency (remember, even though the tenant may be paying the outgoings, if yours is an efficient building the tenant will be more inclined to pay you a top rent)
leases and how well or how poorly they’ve been constructed, options, when the rent reviews are due and on what terms, etc. - and match these up with the criteria you would expect to find in a well-drafted lease document, keeping in mind there will be an opportunity in the future for you to restructure the leases to your benefit. If there’s a long term lease in place that’s not beneficial to you, then ask the question: ‘Do I really want this property and, if so, why should I pay top price?’
Quick House Sale
Jul
05
Pay Special Attention to the Commercial Lease
Posted by: | CommentsDollars & Sense
By Denice Gierach
As published in the Naperville Sun – September 16, 2007
In the excitement of forming a new business, whether a person is purchasing a franchise or forming a new business from scratch, one critical step in getting the business started usually gets little attention by the business owner - the commercial lease.
With everything else new business owners have to decide, they tend to spend too little time understanding the commercial lease.
Before business owners sign any commercial lease, they must read it and know what it means. This seems like common sense, but many people start reading the lease - normally a substantial number of pages with a bit of “legalese” - and then stop, assuming the lease conforms to what they were told by the leasing agent.
If you cannot understand the lease, spend the money to hire an experienced lawyer who can tell you what the terms of the lease mean.
Although there is an upfront cost to using a lawyer for this, it is essential that you are aware of your rights and duties under the lease and that the lease incorporate the verbal promises made by the leasing agent.
If it is not in writing, you will not be able to enforce the promises made to you by the leasing agent.
There are a number of provisions that you should be aware of.
• Know your total cost. In many commercial leases, the tenant pays a base rent amount per month, plus a portion of taxes, insurance and maintenance of the building and its common areas.
In a shopping center lease or in a lease to a restaurant, there may be additional payments required that are a percentage of the tenant’s gross sales.
• Know the building. You should know how old the building is and when major repairs to heating and cooling systems, the roof and common areas were last completed. Otherwise, you may be surprised by a bill for your share of work on these items.
• Know who’s responsible. The tenant named in the lease should be your business entity, which is the party responsible for making the lease payments.
As a newly formed business with no track record, the landlord may ask you to personally guarantee the lease. This means that if the business fails, the landlord will expect you to pay the lease for the rest of its term, which could be a substantial amount of money. Your lawyer might be able to help negotiate better terms than a personal guarantee, especially if you have owned a business in the past.
• Know your neighbors. If the property you want to lease is in a mall or a shopping center, you may be concerned about whether the landlord rents space to a competitor.
If your business requires peace and quiet, you may need to bolster the provision allowing for your “quiet enjoyment” of your leased space, to allow you to terminate the lease if the landlord rents to a noisy neighbor.
• Know your financing. If you are a franchisee, you should not sign a lease if you have not finished your financing, bought your franchise or finished the purchase of your new business. There is no fun in making lease payments for a business you don’t have.
If the landlord insists you sign the lease, your lawyer will need to insist on language that includes a contingency for financing and a contingency for the completion of the business or franchise purchase.
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