Small group of protestors with signs and a megaphone trying to directly communicate with Little Real Estate, asking them to come down and talk. Any insights?
What topics should I start looking into to prepare to purchase commercial real estate intended to be office space?
I am not in a rush and would like to read into this as much as possible before pulling the trigger. I am also a firm believer that people who do this professionally have valuable insight that I will never find perusing the internet. I am reading through the Loopnet descriptions and having to google many terms and abbreviations.
My wife and I both need offices. She is half Mexican and I am a 100% disabled veteran but I am still allowed to work. I included this information because I am aware there are some benefits for minority owned businesses, I just don't know what they are related to buying commercial property.
My wife has her own therapy practice and she's picked up enough clients that she can afford to pay for an office space. This is important because there are a lot of clients who don't schedule with her because she cannot offer in person sessions. When I saw how much it costs to lease office space, I thought we should just buy a small building and lease out offices to other similar businesses. The cost of leasing wipes out the revenue she's bringing in currently. I myself am in the beginning stages of launching a nutrition counseling business and will also need office space.
Please comment with topics I should look into or personal stories. Here are a few questions that I've thought of;
- Is right now even a good time to buy? Many people moving online for work, real estate prices are through the roof, etc.
- Are there any tax advantages to be had for minority owned or 100% Disabled Vet real estate purchases?
- Are there any special loans or grants?
- Is it wise to own and operate within the same building if I have other lessees in the same building? (disgruntles lessees)
- I found "opportunity zone" as an item on Loopnet. I briefly googled this and see there are some tax advantages to buying these properties. Does your business have to be structured under a specific category to use this (LLC, etc.)
- I found a property zoned as "Office/Residential". Does this mean I can AirBnB a part of it or long term lease it to a tenant if the layout is right?
- NOI is listed on Loopnet; How do I find how much the taxes actually are?
- Should I purchase a property under mine and my wife's name, her business name, my business name, or create an LLC just to own the property?
I have a thousand more questions, I just don't really know whe
... keep reading on reddit ➡Has anyone taken CRP 5320? Is the class hard and a heavy amount of work?
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Oct 2021 Newsletter
Your Castle Real Estate
“Normal is an illusion. What is normal to the spider is chaos to the fly.” Wise words for your amusement from fictional character Morticia Addams. And they are fitting this October when it comes to the real estate market. On the one hand you have the metaphorical flies, home buyers, many of whom have had to endure some of the most frenzied bidding wars in recent memory. On the other hand, you have home sellers, the metaphorical spiders, who have had to descend slightly from their comfortable webs and maybe take a less-than-optimal offer for lack of extreme bidding wars this fall. That’s right folks, market conditions are finally closer to the normal trend for this time of year. There is usually a slowdown in the fall, and buyers have an easier time finding houses. After all, who wants to move in the middle of a snowstorm?! If you can believe it, buyers might even find a deal if they watch houses that have been on the market longer than two weeks and need a price reduction. Great news for buyers, for a change.
But despite a return to normal seasonality, there are still some real peculiarities in the market this fall. At the end of September there were only 3,970 active homes in the local MLS. That means that there are currently about 75% less homes to choose from than the 30 year average. This spooky low inventory is expected to persist for years to come. The surge of buyer demand continues, as more workers begin working from home to avoid contracting COVID-19, trading up their rentals for full sized houses with home offices and backyards. Further, many tech companies have added corporate offices in the Denver area, adding a lot of employees to the buyer pool. Now, you might wonder why we do not see more new home construction, considering this low inventory and a high demand for homes. Some of the many reasons are broken down below.
One tangible reason for persistent low inventory is that COVID-related material shortages have continued to plague many industries, including construction. Supply chain issues have made it more difficult to get building materials such as lumber, which drives up the cost of new houses considerably. According to Forbes, lumber costs back in May 2020 added an average of $34K to the cost of a new home! The cost per board has come down by about 64% since then, so let us do the math. In October 2021, lumber shortages may only amount to an increased cost of $12,240 per new hom
... keep reading on reddit ➡Don't get me wrong, I love my old stand-bys, but I'm interested in discovering some new stuff! I love Rites of Spring, Fugazi, Sunny Day Real Estate, Knapsack, Jawbreaker, Archers of Loaf. I'm relatively familiar with the genre as it's what I grew up listening to, but I haven't heard anything new (that I liked) in a very long time, so tell me your faves :~)
Hi everyone! Local real estate agent here in London back for my monthly Ask Me Anything.
As you have likely already heard, the market has been extremely difficult for buyers, especially those buyers under the 400,000 to 500,000 price point. My first-time buyer clients are really facing stress and some have decided to take a pause. Most homes are listing at a price under, what I'd consider, market value and getting 20+ offers. This reality has made it very difficult to determine what price "makes sense" and my main recommendation for buyers is to look at sold prices in the area over the last 30-60 days as I have noticed a big shift (even more extreme than what we saw throughout 2020).
On the listing side, many are taking advantage of the increased prices and using the strategy of "holding offers" for a specific amount of time to 1) ensure buyers can get into the home as there are no overlapping showings with COVID-19 and 2) build up the demand for the house so everyone can make an offer on the same day typically 5 to 7 days later. This has really driven bidding wars throughout the city. I have also noticed an increase of buyers from outside of London (GTA mainly).
Please feel free to ask any questions about real estate in London and I'll do my best to answer them in general terms. Of course, I'd always recommend speaking to experts about your specific situation in far more detail so this advice is just my opinion without knowing your full situation. Would love to learn from all of you as well on what you are seeing and hearing in your neighbourhood. AMA away!
So I saw a condo in Tarpon Springs today, and I want to buy it as an investment. I've never been to the town in my life, but I love it. The place is 10 minutes to a beach by car. Tell me your thinking about buying in Tarpon Springs, Florida in general, and if I'm nuts to consider something that could be affected by global warming. I just think it's a great investment for the short term...
