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What is Commercial Real Estate

Posted by admin | Posted on 20-11-2008

Category : Business and Finance, Real Estate

Tags: , , , , ,

Commercial real estate usually refers to office buildings, retail properties, shopping centers, hotels, apartment complexes and the vacant land that has the potential for development of buildings. Commercial properties are the properties that are leased to provide a work place along with a living space. One of the biggest advantages of the commercial properties is the attractive leasing rates. In such areas where the amount of new construction is limited by land or law, commercial real estate can have impressive returns.

People best suited for investing in commercial properties are those who either have the knowledge about the industry or have a parole of people who do. Commercial real estate transactions are usually governed by state law. Federal law often becomes important in areas that affect environmental regulations and discrimination issues. General Law of contract governs property purchases and they have some essential requirements.

Commercial real estate purchase must follow the land use restrictions and financed by the mortgages. Commercial real estate investment is a great way to make money. There are a wide variety of commercial real estate properties and this may include a piece of vacant land where a commercial building could be built.

Most people choose to make commercial real estate investment because it will allow them equity, provide rental income or use for their own business. Owing commercial real estate may be a great way to diversify your portfolio, offer tax benefits and build wealth. It can be a very risky business especially these days because many people are getting into real estate without completely understanding the industry.

Whether you are looking out for commercial properties or investing in it or you have closed escrow, it is a good idea to get the advice and help of industry experts like commercial agents and management companies to guide you throughout the process. If you hire a good property management company, you may get a little less of return or cash flow. Before you can decide what type of real estate property you want to buy, it is very important o take into account your skills, ability and time you want to put into it.

How to Maximize the Return on Your Real Estate Marketing Dollars

Posted by admin | Posted on 24-10-2008

Category : Business and Finance, Real Estate

Tags: , , , , , ,

Position yourself to be THE person who a seller will sell their property to if and when they get to the point where your offer makes sense. Most sellers are just as disorganized as you and I. As soon as they get off the phone, they move on to the next thing and before they know it . . . they’ve either forgotten that you exist all together or they can’t find your information to call you.

That brings us to a very important question . . . How do you follow up on your seller leads?

3 Step Action Plan to Effectively Following Up with Seller Leads

Step 1 – Ask the Seller if They Would Like to be Added to Your Follow Up System

There is no reason to follow up with someone that doesn’t want to hear from you. If I know by the end of my communication with a seller that we are not right to work together then, I will simply say, “Doesn’t look like we are a fit to work together right now. Hopefully you’ll be able to sell the property but who knows in this market. I’ll tell you what I can do, would you like for me to add you to our follow up system and give you a call down the road sometime? . . . Great, when would you like for us to give you a call back?”

I usually let a homeowner define the time frame when we call back. Do whatever makes sense to you.

Step 2 – Determine How to Track Your Follow Up Call Schedule and Seller Information

There’s nothing worse than following up with a seller and not having any information on their property or their situation (and not remembering it either). You need to decide exactly how you are going to keep up with both of these pieces of information.

When you call back exactly when you say you would and remember all the specific details about the seller and their personal circumstances, watch out! It’s powerful!

Expect to be thanked many times over for caring so much and remember that Lou said 60 % of his deals come from following up with old seller leads.

Step 3 – Make the Call and Rebook the Next Follow up Call if Need Be

When making the call, simply reintroduce yourself and say something like, “Joe, hey this is Patrick Riddle. I spoke with you x-time ago about your property for sale and am just calling you back like I said I would. Did I catch you at a bad time? . . . Good. I guess you’ve probably already gotten the property all squared away and sold, right?”

Simple as that.

By following this simple advice, you maximize the return on marketing dollars you’ve already spent, save on marketing dollars you didn’t have to spend, and stand out from the crowd in the eyes of everyone you work with.

Purchase Website or Building Your Own

Posted by admin | Posted on 23-07-2008

Category : General

Tags: , , , ,

When you decide that you want to run your own online business, the question will soon come up in your mind about whether you should purchase an established website, or build one from scratch. The answers may surprise you, and in this article I want to go over both strategies in detail.

Building your own website from scratch is a lot of work. You will have to work very hard, and unless you have thousands of dollars up front to get started, you shouldn’t expect to start earning any serious money until after a year has passed. It takes time for a brand new site to build link popularity, traffic, and content. It is necessary for a website to have these things before it can begin to earn money.

When you build a new website, you may find it hard for seasoned webmasters to take your site seriously. I’ve found that some webmasters will even refuse to exchange links with your site if it is brand new and has a zero page rank. You can avoid this to some extent by adding lots of content to your new site.

Purchasing a website is easier in the sense that if you buy a site that is already established, there is no need to wait long periods of time in order to get it to the point where it is earning money. If you purchase a good website, you should begin earning money within a month of making the purchase.

However, there are a few things you need to know before going out to purchase a website. You need to do careful research on the site you’re interested in to make sure it earns what the owner says it earns. Request from the webmaster a copy of earning statements for the last twelve months.

Join webmaster forums and ask other veteran webmasters their thoughts on the site you’re interested in. Listen carefully to their answers. If more than one person says that they wouldn’t buy it, and gives good reasons for doing so, you may want to take their advice. It is also important to get the website appraised. Make sure that is is worth exactly what the seller says its worth.

You also want to make sure you buy a site rich in content. Check to make sure the content is original and not copied from another source. If you are a busy person who doesn’t have time to build a website from scratch, purchasing a website would be an excellent choice.

However, purchasing an established website which is earning money will not be cheap. You can expect to pay at least $10,000.00 for a three year old website with a pagerank of 5 or 6 which is earning $500 per month. It is important to do your research and look at all the factors involved in both building and purchasing a site.

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