Despite the sluggish market, it is still complicated to find a “steal” in this day and age. A good starting point for negotiations is often 20% below the list price, with a target purchase price of 10-15% below market value.
But even after your proposal is accepted and the property is under agreement, the property value still may be reduced via the appraisal and/or the home inspection. (more…)
I was recently forwarded an article by a client who hand wrote on top of it “this is exactly what you do, thanks coach”. Based on the client’s note I felt compelled to give it a cursory review. Once I read who the author was, Stephen Covey of The 7 Habits of Highly Effective People fame, I figured I read the entire article, at least twice.
In the article, titled “Sharpen Your Focus”, Covey outlines four disciplines that, if practiced consistently, can vastly improve an individual’s ability to focus on, and execute their top priorities. This in fact is the core to coaching, especially when coaching commercial real estate practitioners. All too often, with the manifold of responsibilities a commercial broker has, we forget the key to success is doing 2 to 4 things really well. It’s the ability of a coach to assist the client to identify these top priorities as well as provide the platform and support for ensuring they are pursued and executed to completion. (more…)
Physical planning and urban and regional planning is the same and represents planning in both time and space. Urban and regional planning for Jamaica real estate may have single or multiple objectives although most have multiple objectives. Some of these complex objectives may not be clearly stated however.
What does Physical Planning Do?
It examines available physical resources and determines how Jamaica land is to be used and developed for the well being of the society involved. It is a product of the human system evolved to satisfy man’s need for shelter, food and clothing. (more…)
The physical planning process is no different from other planning processes such as economic planning and social planning in that, it is cyclical.
The process is a dynamic one. Eight stages are involved.
1. Terms of Reference
This is the first stage in the planning process involving the formulation of the parameters, which are to govern the ensuing plan. These parameters include the aims (goals) and objectives, which are guidelines within which the anticipated plan must function and to which it must relate. The “goals” are the broad guidelines while “objectives” are less general and more tangible. (more…)
Renting office space is an important decision in the life of every business. It is a decision most businesses do not relish and make only a few times, if indeed they do so more than once.
There are a myriad of reasons why businesses are faced with the consideration of what to do prior to committing to a commercial property lease. What began as a home business may have expanded beyond home and require office space for lease. It may just be an issue of space or an issue of staffing, equipment and space. It may be a business outgrowing its current premises or maybe even downsizing in the current economic times. (more…)
More and more people are cutting the cord and releasing the cord that connects them to their desk or cube. No matter if it is WiFi, a PDA devices or just a regular cell phone, the way we work is changing. So what is hot and what is not you may ask?
Well it is know surprise that wireless is definitely hot with cell phones continuing to be an essential business tools. Mobile communication devices can perform critical task when we want and where we want. The two areas with growth are the business applications where mobility is a requirement and general business tools for managers on the go. (more…)
Bob and Sue had given the idea a great deal of thought and eventually decided to go ahead with their plans to purchase a second home in Florida. They planned carefully and saved every extra dollar they could before they found a three bedroom, three bathrooms home they wanted. This was a place where they could retreat from the cold Chicago winters when they could manage to do it but also be a desirable rental opportunity when they were not using it. The chosen home was located close to Disneyworld, had a beautiful heated pool and a large and welcoming lanai so they felt it would be a highly sought after rental for them.
Before purchasing this home, they decided to contact a reputable Orlando HVAC service to thoroughly check out the mechanical systems to ensure that the property would be trouble-free at least in that area for as long as possible. (more…)
If you are in charge of the maintenance for apartment complex expenses or even several apartment complexes then this can be gold and silver mine for you! What we’ll take about here is how to cut down a good eight to ten thousand dollars a year off your bottom line if you’re having your maintenance people take care of this expense.
If your furnishing the filters then it’s time for a change. Most all apartment complexes have gone this route. Let the tenants furnish their own filters. You figure at $.40 a filter (example six hundred units) six hundred apartment units twelve times a year. (more…)
Comparing commercial businesses between apartments to the self storage facilities business there is no question which one is the least hassle. Each has its good points. For the results of comparison self storage facilities comes out on top. You surely don’t want to be cleaning toilets!
Every time a tenant moves out of your self storage facility there will be neither painting nor repairs to be made. As far as finding financing for your self storage facility, going to get a loan will be much quicker and easier than apartments. You can portray so much value to the loan officers. Another point to consider is you will have less people you’ll have to hire to run it. You may not even need any because their now coming out with these unmanned locations! Their bit like a self-serve walk-up ATM machine. (more…)
