Bankruptcy…by just saying it some people feel ashamed. But did you know that in some circumstances bankruptcy can stall a foreclosure on your property? It can even be used if you owe more than what the property is worth. Of course, each state has its own set of laws with regards to foreclosure, but bankruptcy is federal — it’s rule is universal in each of the 50 states. I’m going to give you some information in regards to how some of my clients…even how some of my family and friends — have used bankruptcy to stall the foreclosure of their property.
If you own your own company, whether you are expanding your operations or simply staying where you are, one question has likely come up. Is it better to own our own space or lease it? With prices being the way they are, it might very well be the best time to buy your own real estate. However, owning MIGHT not be the best solution depending on what some of those intrinsic answer turn out to be. Why don’t we look at a few well-known brands to see what their lease v own model is…Starbucks and Chevron.
A Deferred Sales Trust is a financial strategy used by property owners when they dispose of their assets, usually because they can’t – or don’t want to – complete a 1031 exchange. It basically takes the concept of something that is very familiar with even novice investors. The concept of the seller carry back — or seller financing…that is when the seller has equity in a property and acts as the lender for the new buyer. The buyer then makes payments to the former owner as if they were the bank.
One type of service I offer is commonly called “Site Selection”. It’s where I use tools that analyze which location, or locations are best for a client’s place of business. This is all based on a multitude of factors including demographics, household incomes, lifestyle profiles and traffic counts — just to name a few – of the subject area. The subject area can be a 3 mile radius, a particular city or county or it can even be determined by a 10 minute drive time map.
If you’ve remotely watched or read any news since 2008, you’ve probably heard bits and pieces about Fannie Mae & Freddie Mac. And if you’re one of those people that have heard bits & pieces about them, you might not know exactly what they do. Both Fannie Mae & Freddie Mac are government sponsored enterprises, or GSE. Fannie and Freddie actually played — and still play — a key role in obtaining an affordable home mortgage.
No one can really tell you with absolute certainty what mortgage rates are going to be, but everyone’s going to try. Instead of listening to the media and every different news article try to make their predictions, how about I show you a simple way to determine where *SHORT* term rates are likely going?
A very common question I get from my clients is in regards to how they should hold title. Granted, I’m not an accountant or attorney, so I can get legal or tax advice, but I can give real estate guidance & opinions. If you’re single, you could always hold title as an unmarried or single person. Then of course there’s a few different ways to hold title when you’re married, such as community property or joint tenancy.
Living in the San Francisco Bay Area, I must admit I am a little biased on one issue. Be it from California, Berkeley or even San Francisco, we are advocates for using green technology. If it saves the earth or uses less electricity, these jurisdictions are for it. But are we getting ahead of ourselves? Are these huge pushes for “being green” really even worth it? Personal bias aside, I’m going to give you the facts on what’s happening with green technology, and why you likely SHOULD be acting now…not because it saves the earth, but simply because it can save you MONEY.
There’s a small niche market for a certain types of investors. The types of properties in this niche market are called Value Add properties, and these investors usually have three things. A great deal of cash…a sophisticated team including their real estate broker and contractors, and the stomach to take some big and risky leaps. Chances are you’ve seen these properties just in your daily commute. The empty office buildings, the rundown apartments and the retail center that USED to be nice but now it’s just so worn out. These are the type of properties that for the right price and the right investor can make huge amounts of income over time…if you have the right stomach for it!
One type of a loan you can get as a buyer or property owner is called a Hard Money Loan. A hard money loan is basically an expensive, short term loan used when typical lower rate financing isn’t available. As of this time, a typical hard money loan will run you about 10-15% or more and will cost anywhere from 4-7 points. Points are an upfront fee of the loan amount. Also, unlike typical financing Hard Money loans are very short term — usually under two years. Let’s look at how much larger a payment would be using a hard money loan vs. typical commercial financing.