• Attributes to Look for in a Commercial Real Estate Broker Attributes to Look for in a Commercial Real Estate Broker

    0 comments / Posted on by Steven Rivera

    Attributes to Look for in a Commercial Real Estate Broker

    Most cities are full of commercial real estate brokers that have a great deal of experience, market knowledge, tools, & resources. Many are also very busy and maybe are not as transparent as you would like them to be. Below are 5 things to consider as you interview your next commercial real estate agent.

    The Experience You Need on Your Side

    25 years of “real estate” experience is not the same as 25 years of experience doing site selection and negotiating commercial lease terms and contracts. For example someone with 8 years in residential real estate experience and 2 years as a commercial realtor is not the same as a person with 10 years doing ONLY commercial real estate. Additionally if a brokerage company has a combined 50 years commercial real estate experience does not mean that the person assigned to you has 50 years. That person could be new and only have 1 year under their belt. They key is to ask specifically who you will be working with and what their experience is in the niche you are looking for.

    No Conflicts of Interest

    Most commercial real estate companies are full service meaning they represent tenants and landlords. This has the potential to be a conflict of interest. What if the tenant representative working for you worked for the commercial real estate company who lists the property that you are negotiating for? Your agent sits in the desk next to the agent that is listing the property. Sounds...

    Most cities are full of commercial real estate brokers that have a great deal of experience, market knowledge, tools, & resources. Many are also very busy and maybe are not as transparent as you would like them to be. Below are 5 things to consider as you interview your next commercial real estate agent.

    The Experience You Need on Your Side

    25 years of “real estate” experience is not the same as 25 years of experience doing site selection and negotiating commercial lease terms and contracts. For example someone with 8 years in residential real estate experience and 2 years as a commercial realtor is not the same as a person with 10 years doing ONLY commercial real estate. Additionally if a brokerage company has a combined 50 years commercial real estate experience does not mean that the person assigned to you has 50 years. That person could be new and only have 1 year under their belt. They key is to ask specifically who you will be working with and what their experience is in the niche you are looking for.

    No Conflicts of Interest

    Most commercial real estate companies are full service meaning they represent tenants and landlords. This has the potential to be a conflict of interest. What if the tenant representative working for you worked for the commercial real estate company who lists the property that you are negotiating for? Your agent sits in the desk next to the agent that is listing the property. Sounds...

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  • Tips for First-Time Landlords Tips for First-Time Landlords

    0 comments / Posted on by Steven Rivera

    Tips for First-Time Landlords

    Hello to all you first time landlords!  We have comprised our top 8 tips for new landlords and our hope is that this article will educate you so that you don’t make the same common mistakes that most new landlords make.

    1. Make Rent the Priority

    Rent is your revenue. It’s amazing how many landlords are not aggressive in pursuing rent and late charges. It’s sometimes a good idea to work with people who generally need help … if they communicate with you.  But if your tenants just stop paying rent and ignoring your calls or texts, you need to start eviction proceedings. Otherwise, your tenant could be six months behind on rent before you know it, which makes this probably the most important of all the landlord tips.

    2. Partner With The Right Investor

    We have amazing business partners who are completely honest and transparent, two qualities that are absolutely critical when choosing your business partners. For some reason, some new landlords are very willing to partner with somebody they barely know just because a deal looks good. This is usually a mistake.
    The first time we invested, we chose a business partner who we have known for over ten years and this is why we felt comfortable doing a business transaction together. We are not saying that you need to know someone for that long period of time but what we are saying is that you definitely need to do your due diligence before investing with someone for the first time...

    Hello to all you first time landlords!  We have comprised our top 8 tips for new landlords and our hope is that this article will educate you so that you don’t make the same common mistakes that most new landlords make.

    1. Make Rent the Priority

    Rent is your revenue. It’s amazing how many landlords are not aggressive in pursuing rent and late charges. It’s sometimes a good idea to work with people who generally need help … if they communicate with you.  But if your tenants just stop paying rent and ignoring your calls or texts, you need to start eviction proceedings. Otherwise, your tenant could be six months behind on rent before you know it, which makes this probably the most important of all the landlord tips.

    2. Partner With The Right Investor

    We have amazing business partners who are completely honest and transparent, two qualities that are absolutely critical when choosing your business partners. For some reason, some new landlords are very willing to partner with somebody they barely know just because a deal looks good. This is usually a mistake.
    The first time we invested, we chose a business partner who we have known for over ten years and this is why we felt comfortable doing a business transaction together. We are not saying that you need to know someone for that long period of time but what we are saying is that you definitely need to do your due diligence before investing with someone for the first time...

    Read more