7 Targets for Networking in Commercial Real Estate Sales
Posted by este in Commercial Property, Real Estate on October 1, 2011
Every salesperson knows that they have to network to keep the opportunities coming their way. In commercial real estate sales and leasing, the networking process is a bit special. It is the local business community and the investors that should be at the centre of your network.
Consider the following questions when looking to improve or widen your networking skills and impact in the local area.
1. Just who are the larger businesses in your area that will need to deal with property issues in the future? Expansion and contraction are the things that you are looking for here.
2. Who are the most active property investors in the local area, and what type of property are they interested in? How long do they hold property?
3. What lists can you get hold of with all tenant and lease details in key properties and locations? All large properties with multiple tenants in situ should feature in your list.
4. Who are the decision makers when it comes to the local property zoning and development opportunities? Make certain you know just what zoning changes and redevelopment matters are coming up.
5. Who are the professional experts that help property owners with sales and leasing decisions in the local area?
6. What property investment groups exist in the local area that may require a guest speaker to talk about property at their meetings?
7. What business groups exist that may need a guest speaker to talk to them about property trends in the local area? Business people always like to know what has been happening to rents and prices.
This short list of people and groups are those that you should be focusing your commercial real estate networking efforts on. Networking has to start somewhere and that is at the level of the individual single person. A critical early part of the networking process is to ensure that they are a decision maker in one form or another.
The most successful salespeople in commercial real estate are those that create and build an extensive database of contacts. They then stay in contact on a regular basis with relevant local information such as:
- Price trends in zones and areas
- Rent trends and current rates by property types
- Property on the market currently
- Vacancy factors with trends on vacant space available
- Supply and demand changes to local property
- Community or demographic changes
You could say that the above is a simple list made up of market intelligence. The reality is that you have to know that information to be of any value to the people that you serve. The information also helps your networking efforts.
Charlotte NC Real Estate and Homes for Sale
Posted by este in Real Estate on September 27, 2011
Charlotte, commonly known as the Queen City of the South is nestled in the western Piedmont, or foothills of North Carolina. Charlotte and its resident county are named in honor of the German Princess Charlotte of Mecklenburg, who had become queen consort of British King George III the year before the city’s founding. It is the largest city in the State of North Carolina with a population of about 756,000 as per US census bureau, making it the 18th largest city in America.
Charlotte is in Mecklenburg county and bordered by Cabarrus, Union, Gaston, Lancaster SC and York SC Counties. Charlotte is conveniently intersected by Interstate 85 and 77 providing easy access to travelers. Charlotte has the busiest US Airways hub and is the 8th largest airport in the nation, and ninth in the world with daily flights to most parts of the country as well as international flights to various continents.
Charlotte is the second banking center in America after New York with two of the largest banks in the nation-Bank of America, and Wells Fargo. The city is home to some of the fortune 500 companies like Family Dollar, Goodrich Corporation, SPX, Lowe’s, Duke Energy, Nucor, Sonic Automative, as well as the two big Banks.
Charlotte offers the best mix of a burgeoning city: vitality, opportunity and livability. It’s a region steeped in history and tradition yet young and exuberant, open to change, accepts and embraces newcomers with warmth southern hospitality and its temperate comfortable climate.
Whether you’re relocating to Charlotte or any of our neighboring counties, you’ll find there is a lot to like about this region. Charlotte’s tremendous growth rate is reflected in the housing market which has been steadily growing for years, and yet still affordable compared to other housing markets in the nation. The city offers an array of homes from cozy bungalows, modest ranch houses or two-story Georgians, to custom-built mansions, ginger-breaded Victorians or contemporary condos, both existing and new construction, giving people a large varieties of homes to suit the most discriminating buyer. The same variety abounds in residential lifestyle from Uptown living or suburban locations, to comfortable old towns or new-home communities, urban homesteading and prime Piedmont countryside.
The charlotte real estate region is a collection of towns and neighborhoods, including lakefront living that comes with its own unique personality and home styles. Nearby cities and small towns include Concord, Belmont, Mt. Holly, Matthews, Indian Trail, Fort Mill SC, Monroe, Pineville, Lake Wylie, Waxhaw, Mint Hill, Stallings, Huntersville, Wesley Chapel, Weddington, Rock Hill SC, and Lake Norman.
Charlotte North Carolina Real Estate is a great investment opportunity for future appreciation especially in the current market. With it’s tremendous growth trends, buying real estate in the Charlotte North Carolina area would be a smart decision! Charlotte Homes are priced well below the national average. You get more house for the money than in other fast growing cities.
Luxury Homes are located in North and South of I- 485 corridor. Beautiful luxury communities include Ballantyne Country Club, Providence plantation, Piper Glen, Dilworth, Myers Park, Providence country club, Skybrook just to name a few. You will find awesome schools and low property taxes in the fast growing Union County area! Some of the top Luxury Home Communities in Union County are Providence Downs South, Providence Downs, Longview, Kingsmeade, Stratford on Providence, Highgate, Firethorne, Chatelaine, Skycroft, Sedgefield, & Wyndham Hall and many more.
Lake Wylie area features elaborate waterfront luxury homes in gated communities such as Reflection Pointe, Woodland Bay, Misty Waters, Handsmill, River Hills, The Sanctuary and The Palisades.
Lake Norman offers many beautiful lakefront scenery in many high end residential communities on the lake such as The Point, The Peninsula, Sailview, The Farms, Skybrook, Birkdale and many more.
Like anything else, real estate prices in the charlotte region is a function of demand and supply. While new construction is the traditional driver of supply in real estate, foreclosures now have a strong impact on inventories in the Charlotte region. Rising inventories, through construction or foreclosure, place downward pressure on the median home prices, a great opportunity for buyers.
Charlotte NC Attractions, Businesses, Events and Sports
Charlotte Nc is one of the top relocation destinations in the country. Charlotte region offers lots of attractions, businesses, sports, and events in the area. Charlotte has The Billy Graham Library, US National Whitewater Center, Charlotte Motor Speedway, Bank of America Stadium, Nascar Hall of Fame, Carowinds, Discovery Place, North lake Mall, Carolina Place Mall, South Park Mall, Mega Churches, All Faith worhship places, hundreds of outlet stores, upscale shops, dining, museums, parks, Golf Courses and more.
New Hot Trend in Real Estate: Commercial Real Estate Investing
Posted by este in Commercial Property, Real Estate on September 23, 2011
Real estate is an ever-changing and multifaceted investment medium. The same investment strategies, such as short sales, REO or buying notes, gain and lose position in the same manner that stocks or bonds gain or lose their position. For this reason as an investor, we cannot remain stable and radicated in only one investment strategy, but move with the economic trends and demands.
While short sales and REO are still powerful and very viable niches, even though we have seen confusion and reorganization with the different lenders lately, and patience is the name of the game, commercial real estate investing has been gaining attention and it is going to be even a more popular way of investing in the upcoming year.
For several investors commercial investing has seemed as a way of investing out of reach or as a later goal, but actually it is becoming more achievable and lucrative for even the small investor than residential, especially for apartment buildings, which are preferred by lenders over other types of commercial investments.
There are some misconceptions that should be addressed:
- Financing is difficult -nowadays, it seems easier to get financing on a commercial project than a residential investment. Lenders look at the property performance and give less importance to the buyer’s credit: buyer’s credit can be in the lower 500s.
- Large down payment is required -if the lender is a JV partner, financing is usually 100% of the purchase price. Also sellers are motivated in carrying second mortgages and lenders still allow second mortgage financing and other selling incentives as part of the deal structuring.
- Management is difficult – for larger apartment buildings, most managers live onsite and are dedicated to the management of only that specific property. Therefore there is a better control of the situation.
Also other important considerations are:
- Vacancies are low and getting lower -with the housing crisis and displaced homeowners (because of foreclosure or loss of job) there is a high demand for temporary housing (rent versus buying) and it is going to increase in the next year.
- Long term wealth -immediate cash flow and great appreciation potential in the next 5 to 10 years.
- Tax breaks and incentives
- Critical mass principle -more units and more income streams lessen the risk
As stated in a Special online Report from the National Real Estate Investor Association (NREI), “55% of all respondents to a survey conducted by NREI and Marcus and Millichap Real Estate Investment Services believe that now is the time to buy apartments, followed by retail (32%)…. Apartment owners are also bullish on rents, with 41% expecting that rents will increase in the next 12 months.”
In light of the facts and latest trends, as an investor always looking for the best way to capitalize, try to look into commercial real estate and at least add it as an option to your investment strategy.