Tag Archive for: The Broker List

Social Media-Friend or Foe-Don’t be a SECRET AGENT

I have been using Social Media since about 2009.  I am active on Facebook, LinkedIn, Twitter and within reason Google Plus with the addition of You Tube.

While I have had articles written about my use of Social Media-there are some thoughts and idea that are important to share.

I also spent a great deal of money to update my website at the end of last year. Over the course of my career I have spent more than you can imagine to create the Branding that I use today.

First, I started on Social Media to “see” what the kids were doing on Facebook.  In 2009 not many Real Estate professionals had caught on.  In the first six months of using Facebook-I sold 7 properties.

I am currently connected to 5000 people on Facebook. I have a page and a closed group as well.  Today Facebook is used to promote everything from a political stance to the food that you have for lunch! I find that I do not log into Facebook like I used to for these reasons.

Twitter started when my Step Daughter, who was about 8 or 9 came to me and said that I needed to have a Twitter account. In the spirit of encouragement, I told her to make one for me.  Hence, I am ccimcutie.  I did not use Twitter a lot for a long time.  Now I use this all the time.

You Tube is used all over my website and I love the platform not only to educate my Clients but to share videos with Clients that helps with marketing.

LinkedIn is the platform that I recommend. As of this morning I am connected to almost 12,000 people.

Here is the secret to social media (and there are NO secrets in marketing) – consistency!  I spend approximately at the minimum 1-2 hours a day. I have most of my social media accounts linked together so that I can work on one platform and it will populate all of them.

BEFORE you dive into Social Media spend a GREAT deal of time to develop your profiles.  For heaven’s sake get a current professional photo!

I do not hire my Social Media to be done by someone else-they never sound or feel like me.

Remember that when someone connects with you-send a thank you to them and tell them about yourself.

STATISTACALLY, you have 7 seconds to make an impression-don’t use this to tell someone what you had for lunch-no one cares!

When someone endorses you on LinkedIn-say thanks and Endorse them back.  ASK for Recommendations and know the difference between Endorsements and Recommendations. Be sure on LinkedIn to list all 50 of your items that You want to be endorsed for!  Change the order as the top three is the order that these items are seen.  Change them as you evolve in your business.

Block anyone that either annoys you or certainly harasses you! On all Social Media Platforms.

Remember that no matter what your business is – if you don’t tell anyone they will not know who you are or what you do!

In future blogs, I will take each platform and break it down completely what works for me and what does not.

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Assisted Care Investments-The NEED is growing

8 Predictions about the Future of Assisted Living-Finally for the Investor we have a management Team in place so that the Passive Investor can own this Asset Class of Property

The U.S. economy — and the healthcare industry — have seen more than their fair share of ups and downs over the past decade. The Great Recession has only been the most recent upheaval to affect the way Americans plan for their retirements and their aging parents’ senior care. Along with all the economic shifts, there have been big changes in medicine, technology and how we view healthy aging.

It’s no surprise that senior and assisted living options are also changing in response to socioeconomic conditions. Both consumers and providers have had to tighten their budgets and get creative, looking outside the box for senior housing possibilities.

The rising cost of assisted living means that some families are looking at aging in place, home care and multi-generational housing instead of more expensive care options. Those who do opt for assisted living will find a wide range of offerings in new, booming areas like eco-friendly housing and so-called “smart homes,” as well as expanded amenities at more traditional assisted living communities.

What overall trends can we expect to see in housing for senior Americans? Check out our eight predictions for the near future of senior care:

1. The Decline of the Nursing Home Model of Care

We’ve been seeing it for some time — a move away from the concept of senior housing as synonymous with nursing homes, and a move toward other senior housing options, whether it’s independent living, home care or memory care. It’s not a trend that’s likely to change anytime soon. According to Senior Housing News, factors such as the high cost of skilled nursing and recent cuts to Medicare and Medicaid programs will only accelerate the shift.

Dwayne Clark, CEO and Founder of Aegis Living, comments that he wants his residents to “experience vacation at their disposal.” In fact, resident enjoyment is so important to Clark that he’s helping to reinvent memory care. “We are building a community between Madison Park and Capitol Hill… We went back to the Madison Park of the 1950’s and are creating the look and feel, for our memory care residents, based on that time as seniors with dementia resort to long-term memories.”

2. The Rise of Technology-Enhanced Senior Care

Personal care robots are just one attention-grabbing example of the types of up-and-coming technology that are going to revolutionize senior care as we know it. There are plenty of options already at our fingertips that promise to improve the health and quality of life for seniors — from smart home computer systems that keep track of medications and vital signs to wireless networks that provide mobile support for seniors in care communities.

3. More Multigenerational Housing Options

Active seniors who don’t want to move into a community — or can’t afford it — are looking at other options for an independent lifestyle. One possibility is multigenerational housing — the idea that a family will pool their resources and either modify their existing home to suit multiple generations, or move into a place that’s built to house both young families and older adults.

Neighborhood-Friendly Senior Living. Neighborhood-Friendly Civic Planning

With the economy still recovering, many active retirees want to continue working and living close to a city center or commercial district. There are also many limited-mobility seniors who still want access the amenities of a thriving downtown. These are both good reasons why community planners want to be senior-friendly in the future, whether it’s creating senior housing in existing downtown hubs or considering the needs of older adults in planning new neighborhoods.

5. Cooperative Living: Senior Co-Housing

Senior co-housing is another way active older adults can gain the benefits of community living, but on a smaller scale. Co-housing is more like living on a commune, where residents have independent homes but also benefit from shared spaces like gardens and recreation facilities. There are generally some shared meals and housekeeping duties, paid for through monthly dues, and residents have a say in community decisions. This trend has been growing over the past decade.

6. More Amenities and Lifestyle Perks in Traditional Senior Housing

With inevitable rising costs for senior living options like assisted living and continuing care retirement communities, these more traditional forms of housing have begun offering a wide range of amenities to tempt potential residents, from lifestyle-based and cultural communities that cater to LGBT seniors or Asian-Americans to an increased array of recreational options like cultural events, fitness classes and educational opportunities.

Eco-Friendly Senior Living Community7. Going Green: Eco-Friendly Senior Living

These days, eco-friendly increasingly means economical, too, and green senior housing offers older adults the ability to be environmentally minded as they enter their golden years. While there may be an initial investment in building up a green infrastructure —homes and facilities that are LEED-certified, for instance — eco-friendly building, lighting and appliances can save money in the long run and are much better for the environment.

8. Aging in Place Means a Booming Home Health Care Industry

More and more seniors want to remain at home for as long as possible, as evidenced by some of the trends discussed above. But it’s not just improvements in technology and civic planning that are going to facilitate aging in place. The burgeoning home health care industry is also a necessary adjunct to seniors remaining in the home. The Bureau of Labor Statistics predicts job growth of 70% for home health and personal care aides over the coming decade, noting that home care can be a less expensive alternative for those who don’t need comprehensive assistance.

 

 

 

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The ability to learn is a GIFT! Use it and grow.

“If you’re not willing to learn, no one can help you. If you’re determined to learn, no one can stop you!”

This past week I had a person ask me what is one of the biggest epiphanies I have learned about myself in the last couple of years.  Great question and it only took me a few seconds to respond.  I said, “the older I have become, the more I understand how much I don’t know and how much more I have to learn.”  Another way to translate this insight comes from an old saying my grandfather used to tell me and it goes like this, “To know what you know and to know what you don’t know, means that you know.”

One of my greatest discoveries is that human beings can never exhaust their capacity to learn.  Many people learn to be lazy and become complacent in life, then they can’t figure out why they battle dread and become unfulfilled.  However, when you make a commitment to learn and grow every day you begin to understand and enjoy the journey of life.  There is no final destination on this earth.  Our purpose is to grow to our full potential, serve others and make a difference with our lives.  Today I want to share with you a few keys to help you enjoy your success journey.

1 – THINK LONG TERM – one of the greatest tragedies in contemporary living is short term thinking.  Successful people set long-term goals and they understand that these targets are merely the result of short-term habits they need to do every day.  These healthy daily habits should not be something you do; they should be something you are.  Patience and discipline are two prerequisites to succeed in any area of your life.  Think about it.  Which did you plan for more, your wedding or your marriage?  Which do you plan for more your vacation or life?  See the difference?

2 – THINK BIG, PLAY BIG – I love this quote from Marianne Williamson,“Your playing small does not serve the world”.  There’s nothing enlightened about shrinking so that other people won’t feel insecure around you.  We were born to make manifest the glory of God that is within us.  It’s not just in some of us; it’s in everyone.  And as we let our own light shine, we unconsciously give other people permission to do the same.  As we are liberated from our own fear, our presence automatically liberates others.”  It is so important to take risks and try new things.  If you never try and take advantage of opportunities or allow your dreams to become a reality, then you will never realize your true potential.

3 – TAKE PERSONAL RESPONSIBILITY – yes, take personal responsibility for everything in your life.  We live in a world today where most people want to blame their past, their parents, the government, their boss, their spouse, their ex, the color of their skin, their whatever.  I’m grateful to my grandmother who taught me the importance of taking responsibility for everything that happens in my life.  The truth is that life is not so much about the cards you are dealt, but how you play the hand.  Adversity it is not prejudice and visits all of us.  No matter their weaknesses, past failures or beginnings, successful people know they are responsible for their life.

4 – ELIMINATE TOXIC PEOPLE – Get rid of people in your life that subtract and divide – draw closer to people who will ADD and Multiply to your life.  People we spend the most time with, add up to whom we become.  I love how Jim Rohn said it, “you are the average of the five people you spend the most time with.”  There are wise people and foolish people. There are less ambitious people and there are more ambitious people. If you spend time with people more advance than you, no matter how challenging that might be, you will become more successful.  Who do you surround yourself with?  What changes do you need to make today?
Remember, the capacity to learn is a gift; the willingness to learn is a choice.

TIME FOR ACTION!

We at Gerchick Real Estate are always striving to grow and learn and BE BETTER!  We offer Real Estate solutions for the Investors! Register on this site and see how much information that we give you-so YOU can make better decisions.

Check out our Real Estate Professionals.
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Has the Real Estate Professional ABANDONED YOU!

One of the issues that I see when an agent closes with a Client-whether it is a Residential Sale or a Commercial Transaction is that they do not maintain a relationship with that person.

It is easy to “promise” to do lunch or drinks or Barbecues.  However, we are all busy and this is usually not feasible.

I want to speak about the Commercial Transactions.

It is important to keep abreast of the markets and where the asset sits in the flow of the market.  I recommend that everyone have at least a 6 month look at what is going on.  I work at preforming 6 month check ups with all of my commercial closings.  However, in order to do this I need a fresh set of books and records along with any capital improvements.

We keep an email; drip campaign going with Market updates. BUT—————- I am available for conference or meetings from everyone of my Clients.  Many times I have someone call me and say, “You probably don’t remember me but…”  Most of the time not only do I remember them but I can describe their properties.

My Clients are often surprised when I call them and update them on their market.  It is a good time to evaluate the properties position in the market.  So no matter large or small-Clients STAY on my radar.

 

 

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How Corporate Tax Reform could affect you

Key Points of Corporate Tax Reform

  • Corporate tax reform looks to be a top priority for Congress and the Trump administration
  • Supporters are promoting strategies designed to boost the economy
  • Changes implemented could have an impact on the markets and investors

Discussions about corporate tax policy are usually just the ticket for those wanting to be left alone at dinner parties. As investors though, we should be aware of how potential changes in corporate tax policy can impact the value of companies of which we are shareholders. In some cases, changes in corporate taxes can have as much impact on our financial well-being as changes in personal tax rates.

Corporate tax reform stands a relatively high chance of being enacted within the current legislative year, in our view. Reforming the code is a stated priority of the Trump administration and is one of the few areas of potential reform that has at least some bipartisan support in Congress.

Changes affecting imports and exports

There are a number of proposals reportedly being evaluated, but one in particular could have notable implications for the economy, corporate earnings, currency values, and even international trade.

This proposal is sometimes called a “border tax”, but legislators more accurately refer to it by its full title of “destination-based cash flow taxation.” The title may not exactly roll off the tongue, but it denotes the basic idea of eliminating taxes on exports while disallowing the cost of imports as a deductible item for tax purposes. The goal is to incentivize shipping more goods abroad while reducing imports, presumably to encourage more domestic production.

It remains to be seen how far this proposal goes, but in its purest form, it could have significant investor implications. Based on present activity, this proposal could also generate higher tax revenue for the federal government given that the U.S. currently imports more than it exports.

Improving U.S. competitiveness by lowering taxes

The U.S. currently has the highest corporate tax rate in the developed world at 35%, according the Organization of Economic Cooperation and Development (OECD). Allowable deductions and credits lower the actual or “effective” tax rate most companies pay, but the complexity of the U.S. tax code often inadvertently entices businesses to locate operations in more favorable tax jurisdictions outside the U.S.

Benefits of repealing the “repatriation tax”

Any meaningful reform of the corporate tax code is also likely to lower or eliminate the tax on income generated outside the U.S. Currently, businesses face the full corporate tax rate (as high as 35%) on foreign income — but only when the profits are brought home to the U.S. (i.e. “repatriated”). This policy is very unusual and has the unintended consequence of encouraging companies to keep their foreign generated profits outside the U.S. As a result, it can be more appealing for large, multi-national firms to expand production overseas.

It is estimated that domestically based companies held approximately $2.5 trillion outside the U.S. as of the third quarter of 2016 according to Capital Economics, an economic research firm. It’s impossible to say how much of this money would be brought back to the U.S. if rates were cut or eliminated, but reinvesting that cash domestically could have notable economic benefits. Companies could invest in new operations, hire more workers, pay higher dividends, reduce debt, or repurchase shares.

Nothing firm yet, but an issue to watch

Specific proposals for corporate tax reform are still taking shape. The potential of these policies to have material economic or financial market implications, however, makes it an issue worth careful watching. Investors should note that changes to corporate tax laws could have a meaningful impact on their portfolios.

Linda@justsoldit.com

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INVESTING IN MULTIFAMILY is one of the best ways to generate cash flow and build wealth.

So in this article, I want to share 5 important reasons for real estate investors to invest in multifamily real estate as part of their overall investing plan.

#1 Easier to Finance

Although multifamily investment properties are more expensive than single-family properties, they’re generally easier to finance, all things considered.

While this may sound counterintuitive, investors need to understand that multifamily properties pose less risk for a lender, because multiple families are living under one roof.

Vacancy relating to multifamily and single-family property is just one example of how multifamily properties are less risky for lenders. A vacancy with a multifamily property has less of a negative impact than with a single-family property, because it continues to generate cash flow from rents collected from the remaining families.

#2 Quickly Grow Your Portfolio

Investors can grow their rental property portfolio more quickly with multifamily investment properties than single-family homes.

For example, the time, energy, and expense of purchasing 300 single-family properties with 300 closings can be drastically reduced by purchasing one multifamily property with 300 units. An aggressive investor can grow his portfolio quickly with a few multifamily purchases, rather than taking years to purchase individual properties.

#3 Easier Property Management

Some real estate investors with single-family homes try to self-manage their properties in order to save money, especially when they only own a few properties. Of course, this usually does not bode well for the investor or tenants, and causes major stress for both parties.

Multifamily investment properties can be easier to manage because they produce the cash flow and income to reasonably afford the staff to manage the property.

Additionally, multifamily properties can be less expensive to manage because:

  • Professional management staff work full time, and possibly live, on the premises.
  • Units in a multifamily property are centrally located, and not spread out over a large geographic area.

#4 More Options for Forced Appreciation

Forced appreciation occurs when an investment property increases in value as a result of actions taken by the owner.

Multifamily properties inherently have more options for owner-driven appreciation, because a small change adds value affecting multiple families, not just a single family. Also, larger multifamily properties have large common areas and community amenities that can be enhanced to add value and force appreciation.

Finally, when breaking down the numbers on a per family basis, the cost per family for the improvements of a multifamily property are often considerably less compared to a single-family home.

Common improvements to multifamily investment properties that force appreciation include:

  • Improving curb appeal.
  • Updating common areas and individual units.
  • Adding and improving amenities.
  • Adding security features, such as a gate, security guards, etc.

#5 More Cash Flow

Multifamily investment properties have a greater opportunity to generate cash flow than single-family properties, because of the reasons we’ve discussed.

Higher profits are generated by lower expenses resulting from having multiple units under one roof, when compared to single-family homes spread great distances apart. Also, multifamily properties have centralized and consistent management teams that can generate profits by lowering expenses.

Cash flow is also generated with multifamily properties by consistently forcing appreciation, which results in higher rents, higher profits, and a stronger balance sheet.

 

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Why do you need a Commercial Real Estate Professional?

While it is possible to buy and/or sell a commercial property yourself, a good Commercial Broker is often a great source of information.

A Commercial Broker is valuable to the Buyer and the Seller in a real estate transaction.

FOR THE BUYER

Buyers often fear that using a Commercial Broker will require they pay a fee.  Generally (but not always) it is the Seller who pays the sale commission. Another frequent myth is that the Buyer can find a better deal by purchasing “For Sale by Owner” properties because the Seller is avoiding the Broker’s commission. However, in many cases, the selling price of the property ends up being equal or higher than those listed by Commercial Brokers.

Commercial Brokers can:

  • Help determine an approximate price range
  • Refer you to a lender with financing options best suited to your needs
  • Provide access to many resource
  • Information on a broader supply thru their resources including sources not available to the public
  • Provide a market analysis
  • Use their experience in negotiating
  • Follow up on all of the contract details and closing  process

FOR THE SELLER

When selling a property, the focus should be on:

  • Getting the best price
  • Selling the property with the least amount of hassle

Commercial Brokers can:

  • Provide up-to-date information on what is happening in the real estate market, including financing changes and competing properties
  • Serve as your marketing coordinator
  • Suggest repairs to market for the highest and best price
  • Providing access to Commercial Listing Services
  • Marketing to other Commercial Brokers
  • Pre-screen and show your property to qualified Buyers
  • Guide the transaction to a successful close

HOW TO QUALIFY THE RIGHT COMMERCIAL BROKER FOR YOU

Some of the questions that can help you decide are:

  • How will you keep us informed on the progress of the Sale?
  • Where do you feel that your strengths lie?
  • How did you arrive at the suggested listing price?
  • What is your marketing plan?
  • Can you give me references of past clients?
  • How long have you been practicing Commercial Real Estate?
  • Are you a full time Broker?
  • Are you an investor yourself?
  • How many sales did you have last year?
  • How many Buyers/Sellers are you currently working with now?
  • How “available” do you make yourself?
  • How does someone contact you?
  • Are you familiar with the type of property involved?
  • What is the average transaction that you did last year?

 

 

 

 

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