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Real Estate and Property Management Products - Plain Talking

Discover The Commercial Real Estate Techniques Of The Pros


When you are dealing with commercial property, you have to keep in mind that it is not the same as buying residential property for your own use. There are a few more things to look out for and the market value can change in the blink of an eye. Read the tips below to see what to watch out for and what to try.

In order to secure the very best available terms for escrow on a real estate deal, the escrow arrangements should be reviewed by a professional with experience in the field. A real estate agent, financier or investment professional can examine the paperwork in detail, and let a buyer or a seller know if they are being taken advantage of.

When you are renting out a property, try to be prepared for a vacancy. Having a vacancy in one of your properties can cost you a lot of money. If you have a vacancy, try to fill it as fast as possible. You should always remember that you may need to have some money set aside in case of a vacancy because you will probably experience one at some time.

Outsourcing tasks outside of your country isn't always a great idea. It's true that Americans can get Indian labor for pennies on the dollar, but if your goal is long-term success, you should eat the extra charge to get the extra quality. You only want the most skilled people working for your business, and this means spending extra sometimes.

If you are a landlord, it is important that you are not too lenient with your tenant. By allowing them to walk all over you, you could end up losing out on a lot of money. You will also be missing out on having a tenant who is more true to their word.

Determine your financing methods before you even start looking. It is just a shame to find the perfect property only to find that you are in a bind when it comes time to pay. You should determine and qualify with a lender before you start looking for the right property so you have your finances set when the time comes.

It is wiser to have a business partner in your adventures in commercial real estate. With help from someone else you'll have more money available to invest in properties. Also, it certainly can't hurt to have someone with whom to discuss important real estate decisions. The input of another person can really help you make the best possible business moves.

It is important to think like a professional in commercial real estate. Understanding that commercial real estate brings in a larger cash flow with multi-residential properties is key. For example: renting a one home property does bring in sufficient cash flow, but renting out a large complex of properties ie. apartments, brings in a lot more.

Don't accept the very first value you are offered. Almost all prices or bids have taken into account the fact that the other party will be interested in negotiation. Even if they have initially said they are not interested in negotiations you should be willing to try. Most likely that was just a strategy suggested by the opposing agent.

When considering the purchase of commercial real estate, it is important to understand that you may incur upfront costs that are significantly higher than those in normal residential transactions. You will still need to have the property you are considering appraised and assessed by property inspectors, engineers, and other appropriate tradespeople as you determine its worthiness. These inspections can cost upwards of several thousand dollars and may end up yielding information that will lead you to the decision that the property is not a viable investment after all. While this is valuable information you want to know before finalizing your contract, it is important to understand that these "sunk" costs can occur.

If you are looking at a particular commercial real estate listing, and you come into contact with a person who is at the property - be sure to find out if they are an agent or an employee of the owner of the property. It will protect the interests you have in the property.

Take a non-recourse loan if you are entering real estate with a partnership. This means a partner can be released from his or her obligations if the partnership ends. And if the property turns out to be a bad investment, you will not be linked to the loan as an individual.

You should not limit your online and real life interactions to brokers only. You should also reach out to potential customers. Staying in contact with brokers is important, but building a customer base gives you credibility and allows you to rent your property very easily once it is ready.

When you consider investing in a real estate property remember that you are not just making the initial investment in the property, but rather will be investing in the property over the course of its lifetime. What is your long-term plan for maintaining the property's upkeep over the course of the years?

Commercial properties have a lifetime. hawaii property management companies of largest mistakes you can make as an property investor is to ignore the fact, that over time, a building will need upkeep, and you will have to pay for it. Every property goes through phases where things will need to be updated, repaired, or replaced. It is best to have a long-term plan so you are able to handle such repairs.

Research and follow up is always the key to understanding the commercial real estate world. Remember, talk to your financial advisors, as well as, a title or deed officer. Since you will be purchasing a property for commercial uses, it is always a good idea to have your legal representative be advised of each step of the process.
Rail funding, real property tax hike weighed by Honolulu City Council in new tax bill
HONOLULU (KHON2) — A bill to tax visitors to Oahu is moving forward in the Honolulu City Council. The 3% tax will help to fill county funds after losing out on about $45 million from the state.


For years, the Transient Accommodations Tax (TAT) was designed to help with tourist impacts on the Hawaiian islands as it was collected by the state and distributed to the counties. Now, new state law allows the counties to collect it themselves at a maximum of 3%, but some councilmembers are concerned that the money will go toward the Honolulu Rail Project.


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Under Bill 40, Honolulu could collect up to $7 million per month.


“We do need to fill that $45 million puka, and that’s the first thing that the bill does,” Tommy Waters, Honolulu City Council chair and the presiding officer, said.


That money would be divided up between:


Parks and natural area support


General fund for things like police, fire and rescue costs


The Honolulu Rail Project


Hawaii residents want better management of booming tourism industry


“Now what we have in front of us is a bill that would use that money that was supposed to help with the impacts of tourists to pay for rail,” Honolulu City Councilmember Heidi Tsuneyoshi said.


The amount of revenue that would go to each has yet to be determined. Some councilmembers warn against another option to fill the $45 million lost — a rise in real property taxes.


“If there is no action taken on this 3%, there is no 45 million, then we get to cut the budget,” Honolulu City Councilmember Calvin Say said. “Let’s be honest with ourselves, I’ve publicly said all of us in this chamber. We don’t agree with raising property taxes on our residents.”


Tourism arrivals expected to remain high through 2022, Maui overwhelmed


Honolulu Mayor Rick Blangiardi fully supports the bill but does not yet know how much revenue will be used for the rail.


“Clearly I have no apprehension at all about allocating the rest of those resources. We’ll determine what that is once we can deal with the specifics towards offsetting the cost of rail,” Mayor Blangiardi said.


As the economy continues to recover from the COVID pandemic, some industry experts have warned against putting a tax on Hawaii’s economic driver.





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