6 Ways to Reduce Pain When Selling Your Home

When it comes to pain and stress, selling your home ranks right up there with divorce and changing jobs. It doesn’t matter if you are selling your starter home or if you’ve been through this before, expect a lot of pain and frustration as you trudge through the process. And if you have a mortgage or a reverse mortgage on it, it will definitely make the process longer.

But take a deep breath and consider these six ways to help you reduce the pain when it’s time to sell your home.

1. Never hire a relative or friend to list your home.
Similar to starting and growing a business with a good friend or your brother-in-law, avoid this at all costs. There is just too much at stake and you shouldn’t have to be “PC” during the long selling process. The journey from listing to closing is tough enough without adding more tension into the equation.

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The 5 Types of Landlords Businesses Will Encounter

Securing a commercial lease — office, retail or industrial space — is a complicated process that requires much time and effort. As a business owner, there are several different types of property owners you may encounter in your initial search and even during your occupancy, ranging from small individual owners to multi-billion dollar REITs.

Working efficiently with each kind of owner requires a basic understanding of their preferences and priorities. Here, we’ll highlight a few key characteristics of each group:

1. Mom and Pops.
Mom and Pops are owners with smaller portfolios who obtained property as a primary investment. They are not as formal in business practices as other types of owners. Often personally vested in their space, they favor tenants who will treat their space well.

Characteristics

Usually straightforward and easy to deal with
Great for those who desire a close landlord/tenant relationship
May be flexible on terms for the right tenant
Best fit for smaller businesses with simple needs

Tips

Communicate with a personable and warm manner

Highlight what makes you a good tenant

Convey your willingness to take ownership of the space

Share creative ideas on how your business can indirectly benefit them

2. Family investors.
Unlike Mom and Pops, family investors are “real estate families” who have amassed a sizable portfolio over tens or even hundreds of years. The tenant/owner relationship may not be as intimate but nonetheless, family owners are still materially involved in the leasing and management of their properties.

Characteristics

Still operate with a personal touch and often handle leasing in house

Generally cash flow driven; prefer stable tenants over the highest possible rent

Have intimate knowledge of every building in their portfolio

Tend to have long term tenants that they have accommodated over many lease periods

Best fit for small to mid-size businesses who are looking for a landlord that is willing to build space and accommodate their short-term growth needs

Tips

Check out other buildings within their portfolio to get a better sense of what they have to offer

Be warm and personable because it’s not only the bottom line that drives these owners

Clearly communicate your needs and limitations; they will do the best they can to accommodate

Be prepared to put down a significant security deposit if you don’t have strong financials

3. Management companies.
While technically not an owner, management companies act on behalf of the owners that hire them. For the purposes of leasing and day-to-day property management, they are the de facto owners. Management companies typically have access to a large portfolio of properties with a wide variety of options to fit any business needs.

Characteristics

Very knowledgeable and can accommodate a wide range of needs

Allocated budgets for building improvements and capex

Offer standardized and less flexible lease terms, especially for smaller tenants

Best fit for businesses that have established credit, as these owners often have specific requirements and operating rules

Tips

Expect to sign a 5+ year lease

If you are a high profile tenant who’s well recognized or generating a lot of buzz, use this to your advantage, as these landlords like having notable tenants in their roster

4. Real estate developers.
As the name suggests, real estate developers develop and acquire office, residential, hotel, retail and mixed-use properties. The properties they construct are typically Class A buildings designed by award winning architectural firms and feature some of the best amenities offered by any landlord.

Characteristics

Extremely well maintained common areas and large lobbies with strong security

Looking capitalize on the quality of their buildings and generate the highest rents in order to maximize property value

Often limited to major markets such as NYC, SF, LA, Chicago and Houston

Usually more than willing to build space for long term tenants or provide a significant tenant improvement allowance

Best fit for companies looking for premium space

Tips

Plan well in advance as deals can take a long time to close

Ask for specific details and changes to the space that will help your business

Use time as a negotiating factor; many new buildings need to secure tenants even before new buildings are completed

5. Institutional investors (funds and REITs).
Institutional investors are money managers who invest in various asset classes, including commercial real estate. Of these investors, REITs (real estate investment trusts) invest solely in real estate properties but most funds will also invest in it as part of a diversified portfolio.

Characteristics

Most assets are Class B+ to Class A buildings that generate strong cash flows for investors

Driven by occupancy rates and margins, not personal preference

Tips

You likely won’t deal directly with these owners unless there’s a major dispute, you’re an anchor tenant and/or a large tenant improvement (TI) allowance is involved, but if you do, make sure you cross all your t’s and dot all your i’s. These are not your typical landlords so make sure all of the right paperwork and documentation is in order.

By   Justin  Lee

Getting Real With Real Estate

I’ve been hanging out in St. Barth’s and I decided every Monday I’m going to do a show on GrantCardoneTV where I show you real estate deals I’ve bought and why I bought them. This is better than doing any book. It’s going to give you the tools you need to know why you should buy a property and how to buy. You need to know the real estate game because it’s a great way to build passive income and secure wealth.

There is risk in any investment. The only way to reduce your risk is to know what you’re doing. I have a magic touch when it comes to real estate deals, no doubt about it. I’m going to continue to expand my real estate portfolio and as I do, I’m going to be sharing the things I do and even the mistakes I make.

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A Tale of 2 Investors

Grayson and Wayne are partners at Tricorner Yards, a multi-use real estate development project. The two amassed a sizable tract of waterfront property in the Tri-Corner area and successfully rehabilitated and developed what were once rundown shipping yards into a bustling urban center. With their work complete and the properties fully leased or sold, Wayne and Grayson want to move onto the next chapter in their lives; and so, begins the tale of tax-deferred exchanges.

Wayne’s Umbrella Partnership Real Estate Investment Trust (UPREIT)
Wayne is at the point in his life when he would like to be able to move away from daily management and begin enjoying the fruits of his labor. His children have not expressed any interest in taking over the family real estate empire, so he’s willing to give up the property. However, Wayne is not interested in a traditional sale. He does not want capital gains taxes to diminish his investment in the next deal. Given these facts, his tax advisor presents a solution with the potential to address both of Wayne’s concerns.

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5 Essential Tips for Networking in Real Estate

Learning how to network effectively is a must if you work in real estate. After all, networking is fundamental to the success of any real estate business. When I consider this fact, always I’m surprised by the number of developers and realtors who don’t take advantage of incredible networking opportunities at their avail. What follows is a list of networking tips and suggestions which have been useful for me over the course of my real estate career. In the world of real estate, we’re are looking for ways to connect.

1. Surround yourself with a great team.
Having a team that is comprised of competent and trustworthy people is critical to the success of any real estate business. As a real estate developer, I am only as good as the people who surround me. In addition to professionals with whom I work and collaborate internally, I also rely on relationships I’ve built with individuals and firms in my community. Establishing connections with complementary businesses — real estate industry vendors with whom you don’t directly compete — is an essential networking tool. Make it your goal to identify and meet a network of vendors to whom you can refer clients, and vice versa. It will do wonders for your professional network.

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5 Mobile Musts for Real-Estate Marketing

“Real estate is an inherently mobile industry which drives our mobile-first approach.”

That’s Jeremy Wacksman, Chief Marketing Officer of Zillow Group, explaining the one-for-one overlap between real-estate marketing and mobile marketing. Like any good buzzword, “mobile-first” is applied to everything these days: e-commerce, retail, software, entrepreneurship and even finding lost pets (seriously).

So why should you listen to Wacksman? Because if you’re in real estate, there simply isn’t a bigger player than Zillow — period. And not just in terms of market share and online traffic. As Zillow CEO Spencer Rascoff recently told Jim Cramer, “More people now type the word ‘Zillow’ into Google than the words ‘real estate.’ ”

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Buy a Rental Property Before Year-End: Why and How

I realize it may be unrealistic to purchase a rental property in just a couple months before year-end. However, I want to get you thinking about this strategy and encourage you to start shopping now and make it a priority next year.
As entrepreneurs find success with their primary business ventures, many search for the proper investments for their profits. With that said, after reviewing thousands of clients’ situations and tax returns each year, I am convinced that more entrepreneurs should consider rental real estate as an important part of their portfolio.

Now, you may shrug off the concept of owning a rental property and having tenants, due to the time and skills it may take to manage a rental portfolio. But let me list a few reasons that may change your mind:

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How to Make a Fun (and Profitable) Podcast for You and 10 Million of Your Closest Friends

In January of 2016, Washington Post leadership editor Lillian Cunningham premiered the matter-of-factly titled podcast Presidential. The premise was simple and the expectations were humble: Every Sunday, up until Election Day, the hostess would post a profile of each of our nation’s 45 commander-in-chiefs in the order they were nominated.

It was a hit. An array of A-list commenters such as David McCullough and Bob Woodward, episode art featuring adorable president toy figurines and Cunningham’s signature “what would it be like to go on a blind date with President ____” query lead to 10 million hits and an Academy of Podcasters nomination for “Best News and Politics Podcast”.

How did this small idea score such massive success? Like most things, it started with a problem.

“In preparing for the upcoming election I tried to find a podcast on the U.S. presidents and found that there really wasn’t much out there,” said the 33-year-old writer. “So I decided to make one myself.”

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4 Tips to Leverage the Power of Instagram to Grow Your Email List

Social media provides a great way of discovering new customers and being discovered by them. The majority of your efforts on social media should lead to creating leads.

However, it’s a bit challenging with Instagram because the network is pretty self-enclosed. You get only one organic live link and it’s not easily tracked. However, there are still a lot of solid reasons to collect emails on Instagram.

Email lists have the best ROI, the strongest loyalty levels and it’s the one marketing channel you own. Social media platforms can change rules and algorithms, but you have full control of your emails. If visitors give you their email, they show a sign of trust and interest in your brand.

If they haven’t bought from you yet, they might in the future. They might be unsure about the value of your offering, they might not be at a purchasing stage yet, but they anticipate a need in your product.

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7 Reasons Social Influencers Aren’t Responding to You

Influencer marketing seems simple enough: You make a pitch to an influencer (someone with a large social following or significant influence in your industry). That person shares your content or mentions you to his or her followers. And, immediately, you get a surge of attention and interest.

Yes, this is how it’s supposed to go — but that’s the simplified version. Most newcomers to the field of influencer marketing end up getting ignored; no matter whom they choose or how carefully they word their messages, they never get a response.

So, what gives?

1. You aren’t targeting the right people.
One of the most common culprits is a simple targeting issue: You aren’t reaching out to the best influencers available to you. This could be because:

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