Why Efficient Appraisers Are An Imperative When Dealing With Property Transactions

The need for an efficient and experienced appraiser is imperative, whenever you purchase or sell some property. The prime purpose of hiring a property appraiser is to find out the accurate and fair market value of the concerned property. An efficient property appraiser is skilled in evaluating any kind of property. Many banks, mortgage companies, and similar loan lending institutions require proficient appraisers to find out the real worth of a home their clients are buying in order to ensure that they are not sanctioning more money than they can recover.

An expert real estate appraiser will be skilled in considering all the aspects while evaluating a fair value of the property. Generally, they will consider local real estate sales data, property features information, and current prices of the homes in the same area. The property features may include unique architectural characteristics, or special home improvements. By considering all these aspects, the appraiser will offer a fair value of the concerned house.

Reputed property appraisers will offer a proper and justified opinion on the value of a real estate property, no matter whether it is a residential or commercial property. Their opinion is based on the highest possible value and the best possible use of a real estate property.

A proficient residential real estate appraisal service will consider each property individually, thoroughly evaluating the interior and exterior of the home, and even consider the surrounding environment and neighborhood and the crime statistics of the particular area when appraising a residential property. They will consider both the improvements as well as faults when determining the appropriate value of a property.

Every appraiser has his own process and techniques for gathering data, analyzing it, and giving an expert opinion on a particular real estate property. If you hire four different appraisers to evaluate a property, you will get four different opinions on market rate of a particular property but all of them will fall within a similar range of value.

If you run a business in a commercial real estate area, or if you are planning to set up a business on a specific property, the commercial real estate business valuation services can help you to know an accurate and fair market value of your business or prospective business.

Real estate appraisers can give you a sound opinion with regard to the property you are interested in within a minimal time span. They can even play an active role in identifying and informing you about the property seller’s misrepresentations. Their advice is worthy not only for buying property at a fair rate but also for protecting yourself from falling prey to the seller’s deceptions.

In this way, the expert appraisers prevent you from paying unreasonable prices, getting a home with several hidden faults in it, buying a home in an unfavorable and inaccessible location, and being a victim of home seller’s misrepresentations. With the sound advice of the appraisers, you won’t repent on your decisions concerned with property sale and purchase. This is why property appraisers are an imperative need for anyone handling any kind of property transactions. Make sure that you hire some renowned real estate appraiser when buying or selling a desired property in order to secure a safe and fair property deal.

How to Market Your Commercial Real Estate Loan Business

All too often I see small business owners missing the mark with their marketing. Sure, it’s easy to do when you specialize in a specific industry niche and you spend your time engulfed in industry sector jargon. However, it’s best to put yourself in your potential customer’s shoes and think your marketing through from their perspective, addressing their most important questions. Your customers want to be able to trust you, to know you are looking out for their interests and that you don’t just see them with Dollar Signs in your sunglasses.

Below is a sample page, perhaps good for a website, brochure, email, or letter. Why not look this over and consider how you might form your own message. Use your own voice, your own style and remember you are talking to your customer across the table for the first time. You know what questions they will ask. Show that you care, that you are working for them, and will go out of your way to get them the best rates, and great service. Here is the sample:

Commercial Real Estate Loans

Are you looking to purchase an income property such as an apartment building, small office building, or retail center? Would you like to put several rental properties in your real estate portfolio into one commercial mortgage? Wish to find a suitable piece of land and develop that property? Do you need a loan for acquisition and construction?

Do you want to buy a business property with a business on it; a restaurant, carwash, service station, laundry mat, hotel, etc.? Are you looking for a commercially zoned property with a warehouse or industrial building on it? Are you expanding an existing business and/or want to own the property under your business rather than paying the monthly lease?

Are you in the agricultural sector, looking for specifically zoned farming property; land for a vineyard, orchard, or crop such as berries, vegetables, or flowers? We have significant experience to make this happen. Our area in Southern CA has one of the best climates in the world, and incredible top soil for growing almost anything.

We can assist with all types of commercial real estate loans including government-guaranteed loans such as FHA, USDA, and HUD. If you are looking for an SBA 7(a) loan or a CDC/SBA 504 loan for commercial real estate we can get it done.

We can assist you with traditional commercial mortgages, commercial bridge loans, or commercial hard money loans. We also have lines on non-traditional sources for hard money commercial real estate loans, which are custom tailored to you needs for complicated projects outside the normal scope of typical commercial real estate loans and mortgage offerings.

— — — —

Why not try something like this? Just because the Federal Reserve has raised rates doesn’t mean you have to let new deals and new clients move to your competitors. I hope you will please consider all this and think on it.

Commercial Property Types-Which One Is The Best?

What commercial property types should you buy? You should consider the pros & cons of each property type, as well as, have a good understanding of your investment objectives and your experience. These factors will help lead you to your ideal commercial property.

Listed below are the most common commercial property types.

Apartments/Multi-family
Apartments or multi-family buildings are usually the first choice for new commercial investors. Apartment management and financing is very similar to residential, and so new investors feel more comfortable with them. The main disadvantage with apartments, is that they are management intensive.

In order for an apartment to be considered commercial property, it must have 5 or more units. There are numerous sub-types of apartments:

  • Low-Rise Garden Apartments
  • Mid-Rise Apartments
  • High-Rise Apartments
  • Student Housing
  • Military Housing
  • Townhouse Style
  • Co-op
  • When you are looking at properties to purchase, pay close attention to the location and general market for that area. You will want to avoid properties that are located in economically depressed or seasonal areas. Also, the property should have acceptable aesthetic qualities to be competitive with market standards and have a minimum occupancy of at least 85%.

    What if the property you are evaluating has inferior physical characteristics or is in an economically depressed area?

    You may have a higher interest rate, higher reserves and tighter underwriting constraints.

    Mobile Home Parks

    Mobile homes can be a wonderful investment, especially if you own the land and sell off the mobile home. You’re just renting dirt at that point! If you’re not familiar with mobile home investing, you need to read “Deals On Wheels: How To Buy, Sell And Finance Used Mobile Homes For Big Profit And Cash Flow” by Lonnie Scruggs. This book is a gem! Lonnie explains how to buy and sell mobile homes on a note. His presentation is very basic and understandable.

    Now back to mobile home parks. Mobile Home parks are rated as 1 Star, 2 Star, 3 Star, 4 Star, and 5 Star. The Star ranking is based on the conditions and amenities of the park.

  • A 3 Star park usually has a mix of single and double wide homes that are in good condition. The park is attractive and offers some amenities.
  • A 4 Star mobile home park usually only has double wide homes that are skirted and in good condition. The homes will have concrete patios or raised porches.
  • A 5 Star mobile home park can be characterized as having deluxe accommodations, with a wide range of amenities and services. The homes are usually set back from the curb with paved streets, sidewalks, street lights and signs. The park is located in a desirable neighborhood and accessible to retail and community services. The homes are late model doublewides and modular homes in excellent condition.

    The mobile home park should have at least 85% occupancy and be located in desirable areas. Also, be cautious if the park has too many homes for sale (more than 20% of total pads) or more than 20% of total pads are rented homes owned by the park.

    Retail
    Retail properties are properties that are occupied by one or more tenants and the property is utilized for retail purposes.

    A free standing retail, strip center with an anchor tenant is a well known commercial retail business such as a national chain store or regional department store strategically placed in a shopping center so as to generate the most amount of customers for all of the stores located in the shopping center. An Unanchored retail center is a center which is occupied by multiple tenants of which none are anchor tenants.

    Single tenant investment grade retail properties are properties that are net leased to one investment grade tenant (BBB- rating or higher).

    Office
    The different categories of offices include:

  • Suburban Garden Office
  • Suburban High Rise Office
  • Medical Office
  • Central Business District (CBD) Office
  • Potential office buildings should have a minimum of 85% occupancy and is located on or near a main thoroughfare and easily accessible. Properties that have more than 20% of total revenue from owner occupied or owner affiliated tenants, will usually have a higher interest rate on any loans.

    Mixed-Use
    These properties will be a combination of any of the above property types. A real estate development of mixed use properties, should be complementary to each other.

    Healthcare
    These property types are nursing homes, congregate care and assisted living centers. Properties should be close to retail and community services. Be cautious of properties in economically depressed or seasonal areas. Also, be sure that the property complies with ADA requirements.

    Hotel
    Hotels are characterized as either Full Service or Limited Service.

    Full Service Hotels can be further divided into Luxury, Upscale, Mid-scale, and Extended Stay hotels.

    Limited Service Hotels can be further divided into Mid-scale, Economy, Budget and Extended Stay. When considering hotel properties, the property should have a stable operational history. A property with a history of four or less years should be scrutinized. The minimum acceptable occupancy is usually 60%. Lenders also prefer franchise affiliated hotels with franchise agreements extending beyond the term of the proposed loan.

    Industrial
    These property types will have usage for industrial purposes only. Such as

  • Warehouse-single tenant
  • Warehouse-multi tenant
  • Manufacturing
  • Research & Development
  • Flex Space
  • Light Industrial
  • Heavy Industrial
  • Self Storage
    Also is called Mini-Storage, it is used for personal storage for lease by consumers.

    Other Specialty
    These property types are unique and the financing them can be difficult. They include

    gas stations, oil change facilities, etc.

    Tips for Securing Commercial Lawn Mowers for Commercial Landscaping Properties

    A lawn care or landscaping company with the knowledge and experience needed to handle the care for large commercial properties needs the right tools at their disposal in order to handle these commercial landscaping properties. That means only the best commercial lawn mowers designed specifically for large-scale properties. You want your handiwork to speak for itself whenever you drive off from a freshly-manicured commercial property, so here's how to not just secure new commercial property owners as clients but how to keep them by providing the best service you can.

    Don't Be Afraid to Scout While On the Job

    The life of a professional landscaper entails a lot of driving from job to job, and this represents an excellent opportunity to scout out new possible properties to approach to see if their owners are looking for landscaping services. Commercial properties with large, neglected lots are always ripe for the plucking, especially as sometimes the companies that occupy properties, such as law offices and similar professional services, are responsible for their own landscaping and do not have a property management company to rely on. Once you've gotten a good list of what might very well end up being new clients, you'll have to track down who it is you'll have to talk to in particular about landscaping services. Whether it is a grounds manager or a business owner, you will need to do some Googling – or better yet just knock on doors and strike up conversations with receptionists or other staff at the front desk.

    Be Yourself with Prospective New Clients

    It's important to be genuine when you're looking to forge new connections with potential clients. Business owners are inclined to be friendly with a fellow business owner, especially when they present themselves honestly and professionally. Being open and honest can help show prospective clients that it will be easy to work with you, even if it just means that you're proficient at making small talk. However, when it comes time to get down to brass tacks, you'll need to be straightforward and simple about what you can provide to a company, what types of commercial lawn mowers and other equipment you use on a regular basis, and how much all of these services will cost.

    Don't Lose Hope

    Finally, don't get discouraged if you keep asking around and all you're getting is rejection after rejection. Not every business out there cares or even thinks about the landscaping on their property. Moreover, those who do reject your offer will sometimes give you feedback as to why you were passed over, providing you an opportunity to hone your sales pitch and strengthen your positions for future endeavors.

    Of course, it does not matter how well you can smooth-talk a client unless you have the equipment to back it up in your trailer. Make sure to use only the most safe and efficient commercial mowers that can stand up to the strain of large, robust commercial.