Raising money for a real estate fund

March 23rd, 2008

I got the question the other day, “where do I go to raise $50 million to create a distressed properties fund?”
Is may sound snide, but I’m thinking, “if you have to ask…maybe you’re not ready to manage $50 million yet?” My observation is that those who have a track record of success acquiring property, creating […]

brokering bank owned real estate

March 23rd, 2008

The pool of commercial lender owned real estate (or real estate owned - reo) Much foreclosed commercial property today was encumbered by a CMBS loan (i.e. securitized, conduit loan). When CMBS loans go into default, a third party called a special servicer takes over. There is a small handful of special servicers nationwide assigned […]

How to buy investment property

March 23rd, 2008

Here’s a how-to. Let’s say you’re going to start with duplexes….
I’d pick a particular neighborhood that interests you — or cal it a submarket. I’d build a conclusive database of duplexes and four-plexes in that neighborhood. This will take some driving around. pick small enough a geography to start off with so that you’re not […]

Are you a commercial real estate professional using a CRM platform?

March 23rd, 2008

I’m now using Act! as it is the only software my company supports. stay away! so slow, so buggy, very poor.
I formerly used REA! (www.gorea.com) and found it to be very nimble, fast, and functional for developing a relational database linking properties to owners, creating groups, and doing targeted marketing. I loved it.
When I […]

Screening potential residential tenants

March 23rd, 2008

again a linked in question, answered by me:
Here are three options to try. I haven’t used any but the costs aren’t too high so it might be worth experimenting with each:
www.TenantVerification.com
www.E-Renter.com
www.1-Background-Checks.com

Google Yourself

March 23rd, 2008

If you’re a real estate broker (or any other kind of sales professional for that matter), you ought to google yourself periodically. Many if not most prospective clients are doing this to you. What does your internet presence look like? Anything embarrassing out there, from the obvious (provocative pictures) to lesser offenses? make sure you […]

a good source for news about the economic and political factors affecting senior housing industry?

March 23rd, 2008

My answer to a linkedin question:
The American Seniors Housing Association generates a range of reports that you might find useful, albeit at a cost.
Links:

http://www.seniorshousing.org/Bookstore/ […]

The best leads still come from Brokers

March 18th, 2008

I use any number of means to market my commercial properties: costar, loopnet, google base, craigslist, washington post ads, direct mail, email blasts, cold calling, etc. etc. When it comes to selling buildings, there’s still nothing that beats brokers.
When I market empty buildings, I need to reach out to cooperating brokers. Larger users of space […]

Craigslist for marketing real estate

February 28th, 2008

I have a client that posts his commercial properties twice a day to craiglist to ensure they remain that the top of the list.
This is against the terms of service (TOS).
That said, I believe it is ok to cancel and repost listings every 48 hours.
I find with craigslist that being at the top of the […]

craigslist a great real estate sales tool

February 27th, 2008

I list my warehouse for sale in craigslist. I get my share of wackos, but also some great leads. Consider using it.