Important Things to Consider When Renting Out Property

Important Things to Consider When Renting Out Property

To avoid problems, owners should be mindful of the things that can affect the rental value of their property.

Tenant Reference and Employment Checks

This should go without saying, however, too many landlords meet prospective tenants in person and trust them because they are nice and affable people.

Systems Failing and Things Breaking

Have a plan before things break and systems fail. Build relationships with plumbers, electricians, handymen, etc., creating a strong network of vendors that you can trust.

Eviction Rights

Don’t rent to anyone you can’t evict. Who rents your home will make or break your rental income?

Realistic Rent Amounts

Check local rental listings to find out what you can realistically charge. If you want to find a good tenant, the rent must be comparable to the going market rate.

Local Laws

Landlords will be tempted to rent more space than is locally allowed, such as a finished basement that is not approved as a legal unit.

Your Investing Goals

One thing many first-time landlords forget to do is define their investing goals. We certainly did this with our first rental property.

If the Numbers Work

Before you get emotionally invested in the idea of converting your home into a rental, you have to run the numbers.

Condition of The Home’s Maintenance

In assisting a client with finding a rental property, you must consider the condition of the home’s maintenance.

Getting Long-Term Tenants

Consider finding tenants that are interested in longer-term leases as this will save you time and money in the long run.

Renters Insurance

Make sure that the tenants who rent my clients’ properties have rental insurance coverage.

Vacancy Costs

Remember that pricing a property at market rate helps you become cash flow positive sooner and lowers vacancy costs.

Home Warranty Plans

Becoming a landlord? Be sure to pay a few hundred dollars a year on a home warranty plan that covers repair costs with a minimum fee upfront and make the tenant pay the fee each time.

Property Inspection

Getting a property inspection prior to tenants moving in is always a good idea.

Winston Rowe and Associates provides consulting services for commercial real estate investors nationwide. Review them on line a www.winstonrowe.com 

The Difference Between Primary and Rental Mortgages

Winston Rowe and Associates

Primary Mortgage: The primary mortgage is underwritten based on the assumption that your day job income + other alternative incomes will be around so that you can comfortably pay every month. Your W2 income viability is the ANCHOR that propels a bank to move forward and give you a new mortgage. After assessing your W2 income will the bank then account for your alternative income streams if needed?

The most important ratio your bank will look at is your debt to income ratio. They ratio they are generally looking for is roughly 33% or lower. That said, my recent loan modification required just a D/E ratio of 42% or less. Each bank is different. The number one goal for the bank is to earn a consistent spread over the life of the loan.

Rental Mortgage: Your rental property mortgage is underwritten based on the assumption of the feasibility in collecting rental income. The bank then looks at your W2 income to arrive at your total income. W2 income is preferred, however underwriters try to match income sources with the types of mortgages they are lending. The main issue is the viability of your income streams.

If you are refinancing an existing rental property, you’ve got to come up with a lease and rental history. No lease and a sketchy rental history full of missed payments will probably end your rental property mortgage refinance. Rental property mortgages often require a 30% or more down payments compared with your typical 20% down payment for a primary residence.

Risk Reward: It’s all about risk assessment for a bank. From the bank’s point of view, they are making a default assumption that you as the landlord require rental income to pay the mortgage. Even if you have a huge salary and lots of money saved in the bank with the existing institution, the mortgage underwriter does not put as much weight as the rental history of the property. For rental mortgages, they are essentially making a derivative bet.

Last Property Standing: In a housing downturn, the first properties to go are vacation homes followed by rental properties. A primary residence is the last mortgage a multi-property owner will default on since s/he has to live somewhere. The primary home mortgage is presumably more affordable once the multi-property homeowner gets rid of other debt. Banks know this and are more stringent in their rental mortgage lending practices. The last thing a bank wants is to repossess a property. Banks are not in the business of buying and selling properties!

THINK LIKE A BANKER WHEN YOU BORROW MONEY

Now that you understand why a bank places a higher risk on rental properties, you now know why rental property mortgage rates are often 0.5%-1.5% higher than the SAME primary property mortgage rate. Due to higher risk, banks demand a higher return on their investment in you. Banks have tighter lending standards post crisis.

Take my current San Francisco rental for example. My 5/1 ARM rate for a conforming rental loan (<$417,000) is 3.375%. Meanwhile, my 5/1 ARM jumbo primary resident mortgage is only at 2.625%. My primary home mortgage is more than double my rental property mortgage and my rental property income is more than quadruple my rental mortgage interest payments, yet the rental property mortgage is still 0.75% higher.

Source: Financial Samurai

Detroit Emerges From Bankruptcy Today

Click Here For No Upfront Fee Commercial Loans

The city of Detroit’s historic Chapter 9 bankruptcy will end Wednesday, Today setting in motion a sweeping plan to slash $7 billion in debt and reinvest $1.4 billion over 10 years to improve city services.

The Berkshire Hathaway chairman is bullish on the Motor City.

Investing in Detroit, he says, is an increasingly appealing proposition, and will be “much better after the bankruptcy than before.” In part, that’s because the city’s finances were clearly unsustainable before now, and no one wants to invest in a place that’s headed for Chapter 9. But Buffett added that the city is going to be “employing a lot more people five years from now or 10 years from now,” than it does today.

Now the need for alternative sources of capital in the Detroit commercial real estate industry has never been greater.

Winston Rowe & Associates is a capital source that provides flexible, reliable and timely solutions for owners of commercial real estate throughout Michigan.

Detroit Commercial Financing Solutions:

No Upfront or Advance Fees to Underwrite Your Transaction

Loan Amount Starting at $500,000. with no Upper Limit

All Commercial Property Types Considered

Fast Hard Money Bridge Loans

Conventional, CMBS and Private Capital

Whether it’s an initial purchase or a refinance they have the solution for you. Winston Rowe & Associates offers expert friendly service combined with years of experience and will work with clients to find the best solution that fits your needs.

When you call Winston Rowe & Associates, a principal is always available to speak with prospective clients.

They can be contacted at 248-246-2243, or check them out online at http://www.winstonrowe.com

 

The Art of Pre-acquisition Due Diligence

Due Diligence

The use of the word “art” in discussing pre-acquisition due diligence may seem confusing, even odd, to some readers. But just as with constructing an investment thesis and execution plan for a special situations acquisition, there’s an art to executing effective pre-acquisition due diligence.

Every special situations investment opportunity is unique, posing particular transactional, financial, integration, and human behavioral challenges.

As such, the art lies in taking a comprehensive due diligence template and effectively and efficiently customizing it to fit a particular special situations transaction.

Although this article discusses certain technical and technological aspects of executing effective pre-acquisition due diligence, it can’t pretend to teach the art of the process.

The art manifests itself when discussing the theoretical objectives of performing effective due diligence in combination with providing practical examples of certain procedures that result in successful investment decisions.

Theoretically, the fundamental objective of pre-acquisition due diligence is to validate the investment thesis of a particular acquisition or transaction. However, a more comprehensive objective of pre-acquisition diligence exists.

Utilized by certain special situations equity sponsors, these best practice due diligence procedures include investigations, analyses, strategies, and tactics relevant to the people and process decisions necessary to predictably close the transaction and integrate the post-acquisition 90-day business plan.

Although more difficult to execute, especially in scenarios involving uncertain outcomes (e.g., a Chapter 11 Section 363 auction sale), these procedures are essential to forecasting the likelihood of a successful return on investment. An acquisition that integrates pre-acquisition due diligence with a transaction’s closing and initial post-acquisition integration plan has higher levels of predictability and probability of success.

To achieve this requires a distressed investor to develop a comprehensive understanding of the key qualitative and quantitative elements of an acquisition target—past, present, and future—especially as these elements relate to people, products, processes, trends, and markets.

Accurately predicting post-acquisition revenues and variable and fixed costs on both an accrual and cash-flow basis is one of the expected outcomes of executing best practice due diligence procedures.

Achieving predictability is much easier said than done, but experienced special situations investors understand what factors addressed through due diligence drive a post-acquisition forecast.

What are the target’s distinctive capabilities in relation to its competition (e.g., its hedgehog)? Which products and customers, suppliers, internal processes, and people are critical to executing the post-acquisition integration plan? If the investment is an add-on acquisition to an existing industry or product platform, what synergies does it bring to the existing platform?

Understanding key elements enables the acquirer to successfully flex the post-acquisition business plan to predictably exploit economic opportunities, including exit strategies, in both expansion and recessionary scenarios.

Of course, achieving high levels of predictability is impossible unless the numerous people decisions essential to identifying and underwriting the target, closing the transaction, and integrating the acquired asset are properly executed.

What should the decision criteria be for who is on the pre-acquisition team? The transaction closing team? The post-acquisition board of directors and senior leadership team? What should the composition be between the acquiring sponsor’s investment partners vs. operating partners vs. the target’s management team vs. outside professional advisors vs. other players?

These decisions have profound long-term effects on the predictability of an investment’s operational and financial performance, and thus investment values, under a variety of scenarios.
Understanding the respective performance goals for each of these positions; creating criteria and processes for deciding the initial who, what, when, where, and at what price questions; and establishing criteria to score and evaluate the respective performances of the people chosen should be established during the pre-acquisition due diligence processes.

That there is an art to the making these critical people decisions is evidenced by the number of private equity sponsors that engage outside professionals to advise them on these matters.

What America’s $2 Trillion Underground Economy Says About Jobs

Winston Rowe & Associates Online

Doing what they can to survive in a dour job market, millions of Americans exist in an underground economy that has ballooned to $2 trillion annually.

By “underground economy,” we’re talking about all the business activity that is not reported to the government, which includes a growing number of people getting paid for their labor in cash.

That means the shadowy figures of the underground economy – the drug dealers and Mafia godfathers, for example – now have a lot more company.

But most of these new participants in the underground economy are ordinary hard-working Americans who are increasingly taking jobs that pay “under the table” either because nothing else is available or they need a second source of income to make ends meet.

America’s underground economy is nothing new, but since the Great Recession hit, experts estimate it has doubled in size, driven by unemployed or underemployed people desperate for income.

Paying workers off the books also has great appeal to employers, who then can avoid paying benefits and, starting next year, some of the costs imposed by the Obamacare law.

“It’s typical that during recessions people work on the side while collecting unemployment,” Bernard Baumohl, chief global economist at the Economic Outlook Group, told The New Yorker. “But the severity of the recession and the profound weakness of this recovery may mean that a lot more people have entered the underground economy, and have had to stay there longer.”
Who Lives in America’s Underground Economy?

Some of the folks who’ve become trapped in the underground economy have been there for years, such as construction workers, childcare workers, illegal aliens and housekeepers.

People who do such service jobs often get paid partly or entirely under the table. The huge job losses caused by the Great Recession forced more people to switch to service jobs.

Many long-term unemployed people have struggled to survive by taking odd jobs, for which they almost invariably get paid in cash.

But the biggest contributor to the underground economy in the past few years has been employers increasing their use of freelancers or “independent contractors” – even many who actually work full-time.

The weak U.S. economy has already given businesses plenty of incentives to cut costs by paying workers under the table. But the arrival of Obamacare Jan. 1 – particularly rules that requireemployers with 50 employees or more to offer health insurance while allowing them to avoid offering plans to part-timers — will give them even more.

“This type of regulation could put more people out of work and into an underground economy,” Peter McHenry, an assistant professor of economics at the College of William & Mary, told CNBC.

It’s a sea change in how businesses traditionally have hired, and if it sticks through a recovery of the U.S. economy, it will have grim implications for American workers.

“Businesses are not angels, and they exist to make a profit,” Alexandre Padilla, associate professor of economics at Metropolitan State University of Denver, told CNBC. “They are going to do everything they can to keep costs down, and if that means paying people off the books, they will do it. The government doesn’t really have the resources to track down every business that does this.”
A Crash Bigger than 2008
Watch the full presentation.
What the Underground Economy Costs

The rapidly growing amount of unreported wages in the U.S. is costing the nation billions in lost tax revenue.

The Internal Revenue Service estimated that the losses from unreported wages have grown from about $385 billion in 2006 to about $500 billion last year.

State governments lose another $50 billion to the overall underground economy.

That means the people who play by the rules are getting a raw deal.

Benefits of Managing Your Own Commercial Properties

WINSTON ROWE AND ASSOCIATES ONLINE

Investing in commercial real estate can be a very profitable venture – if you find a building for the right price, with good potential cash flow and in a good investment location. If the location is not desirable, it won’t matter if you have the nicest building on the block or offer the most amenities for the lowest rents.

You need to crunch the numbers to make sure you have a profitable investment.

Winston Rowe & Associates, a national advisory and due diligence firm specializes in structuring; acquisition, refinance and portfolio repositioning of large and small commercial buildings.

They have prepared this knowledge based news article to provide current and prospective commercial real estate investors with a strategy of managing you own properties.

When you call Winston Rowe & Associates, a principal is always available to speak with prospective client’s 248-246-2243.

They also have many other solutions that meet almost every need. Check them out online at http://www.winstonrowe.com

Cost of a Property Manager

Some property owners decide to hire a management company to handle their commercial property, which can provide several benefits, but may wonder if the outcome is worth the cost.

Most property management companies charge between 5 to 10 percent of the rental fee.

To avoid paying the fee, a property owner can handle the same services and improve the return on investment.

Marketing

You can use advertising locally and online to find an appropriate tenant. Placing a “For Rent” sign outside of the property that includes basic details may be effective. An ad in a local weekly publication or flyers distributed in the area can also generate interest.

Placing an ad on Craigslist or another online website or publication may also be a good option. Finding a responsible tenant can be one of the most key steps in making your rental experience profitable.

Screening

Screening a potential tenant to your comfort level may involve a credit or background check, and a tenant application. When meeting the prospective renter in person, engage in a discussion with them to establish rapport and use your best judgment with the following goals in mind that can increase your return on investment give you fewer headaches:

The property will be well-kept and therefore require fewer repairs and maintenance.

Rent will be received on time.

The lease could extend beyond the first year.

Legal Issues

Taking a class that reviews real estate and rental property legal issues will help you avoid complications, such as observing discrimination laws during tenant application and screening, drafting a secure lease agreement and minimizing risk in the property and on its grounds.

Timely Maintenance and Repairs

Handling repair and maintenance requests quickly can maintain a positive owner-tenant relationship and can prevent smaller repairs from growing and becoming costly expenses.

You may need to find a maintenance and repair and HVAC company to retain for standard and emergency repairs. Read about preventive maintenance requirements

Winston Rowe & Associates has some of the most aggressive rates and terms available, while managing every step of the financing process from document collection to commitment negotiation and closing.

 

National Housing Markets Improving Slowly By Winston Rowe and Associates

WINSTON ROWE AND ASSOCIATES ONLINE

Markets in 56 of the approximately 350 metro areas nationwide returned to or exceeded their last normal levels of economic and housing activity, according to the National Association of Home Builders/First American Leading Markets Index (LMI), released this week. This represents a year-over-year net gain of seven markets.

 

The index’s nationwide score moved up slightly to .89, meaning that based on current permit, price and employment data, the nationwide average is running at 89 percent of normal economic and housing activity. Meanwhile, 78 percent of markets have shown an improvement year-over-year.

 

“Things are gradually improving,” said NAHB Chairman Kevin Kelly, a home builder and developer from Wilmington, Del. “As the job market grows, we expect to see a steady release of pent up demand of home buyers.”

 

Baton Rouge, La., continues to top the list of major metros on the LMI, with a score of 1.39 – or 39 percent better than its last normal market level. Other major metros leading the list include Honolulu; Oklahoma City; Houston and Austin, Texas. Rounding out the top 10 are Los Angeles; San Jose, Calif.; Salt Lake City; Des Moines; and New Orleans.

 

“With the national tally only reaching 43 percent of normal, single-family housing permits continue to be the lagging component of the index,” said NAHB Chief Economist David Crowe. “The big bright spot is employment, where the number of metro areas having reached or exceeded their norms grew from 26 to 46 in a year.”

 

“In the 22 metros where permits are at or above normal, the overall index indicates that these markets have fully recovered,” said Kurt Pfotenhauer, vice chairman of First American Title Insurance Co., which co-sponsors the LMI report. “This finding shows the impact that an uptick in permits can have on the overall health of markets.”

 

Looking at smaller metros, both Odessa and Midland, Texas, boast LMI scores of 2.0 or better, meaning their markets are now at double their strength prior to the recession. Also leading the list of smaller metros are Bismarck, N.D.; Grand Forks, N.D; and Casper, Wyo., respectively.

 

The LMI shifts the focus from identifying markets that have recently begun to recover, which was the aim of a previous gauge known as the Improving Markets Index, to identifying those areas that are now approaching and exceeding their previous normal levels of economic and housing activity. More than 350 metro areas are scored by taking their average permit, price and employment levels for the past 12 months and dividing each by their annual average over the last period of normal growth. For single-family permits and home prices, 2000-2003 is used as the last normal period, and for employment, 2007 is the base comparison. The three components are then averaged to provide an overall score for each market; a national score is calculated based on national measures of the three metrics. An index value above one indicates that a market has advanced beyond its previous normal level of economic activity.

 

In calculating the LMI, NAHB utilizes employment data from the Bureau of Labor Statistics, house price appreciation data from Freddie Mac and single-family housing permits from the U.S. Census Bureau. The LMI is published quarterly on the fourth working day of the month, unless that day falls on a Friday — in which case, it is released on the following Monday.

OFFICE BUILDING MORTGAGES AND FINANCING – NO UPFRONT FEES

COMMERCIAL REAL ESTATE FINANCING ONLINE WITH NO UPFRONT FEES

Commercial Office Building Financing

With a commitment to quality Winston Rowe & Associates is becoming a recognized leader as an office building financier.

In these times of tightening credit, it is more important than ever to have a specialist working to secure the office building financing you need. Winston Rowe & Associates specializes in difficult to place loans, providing private funding solutions when needed, and securing institutional financing.

Winston Rowe and Associates success is measured by their clients’ success, and their mission is to be your source for the most appropriate and advantageous office financing solution that helps you achieve your goals.

Office Building Financing Terms:

No Upfront or Advance Fees
Capital Deployment Nationwide
Loan Amounts Starting at $1 MM
Purchase, Refinance & Cash Out
No Recourse Available
Joint Venture
Interest Only Option
Hard Money that can close in 10 Days

Winston Rowe and Associates can assist in financing for new acquisitions or refinancing for both single tenant and multi tenant office buildings whether the borrower is seeking the lowest rate, highest leverage, no prepayment penalty, or a long-term fixed rate.

Office building mortgages, due diligence and advisory services are provided in all 50 states.

Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, Washington DC, West Virginia, Wisconsin, Wyoming

Zillow Launches New App

COMMERCIAL REAL ESTATE FINANCING ONLINE WITH NO UPFRONT FEES

Zillow, the leading real estate and home-related marketplace, just launched the Postlets® App for iPhone® and iPad®.

Postlets is a free listings creation and distribution tool, and is owned by Zillow®.

With the new Postlets App, users can distribute their rental listings to more than 20 of the top real estate and rental sites on the Web and mobile and easily share them on social media sites, all with the touch of a finger.

The app, specifically for rentals, allows landlords, property managers and real estate agents to quickly create, distribute and manage their rental listings on the go, and eliminates the cumbersome trudge back to the office desktop.

Postlets is the path for posting rental listings to the Zillow Rental Network, which includes Zillow.com® (the largest rental site on the Webi), Zillow Mobile, HotPads„¢, Yahoo!® Homes, AOL Real Estate, and HGTV®’s FrontDoor®. Postlets also makes it easy to publish and manage rental listings to other top rental sites on the Web.

With the Postlets App for iPhone and iPad, landlords and property managers can:
Upload an unlimited number of photos.
Specify available amenities and write descriptions on the spot.
Instantly publish rental listings to the most popular rental sites on the Web.
Instantly share rental listings on Facebook and Twitter.
The Postlets App is available for free from the App Store on iPhone and iPad or at http://postlets.com/iOS.

How To Retire Early Investing In Apartment Buildings

MULTIFAMILY LENDERS WITH NO ADVANCE FEES

We all work hard at our J.O.B., don’t we? We work hard each day and hope to retire when were 65, that’s the American dream, right?

Many of us are looking for something better, maybe a scenario where we can retire earlier or perhaps enter a state of semi-retirement. The answer: investing in apartment buildings.

Imagine working really hard to find a good building at a fair price, putting the financing together, and hiring a property manager to run the whole thing. Was that a lot of work? Of course. But don’t you work hard anyway? Here’s the difference….

Apartment Ownership – What’s It Really Like?

Imagine the day you close on the building and your property manager takes over. Ask most apartment building owners, and they will say they spend anywhere between 2 and 5 hours per week on their building if its managed by a professional management company.

What have you done? You went from a job that took 40-50 hours of your time each week to one that takes a fraction of that. And you replaced part or all of the income of your job with that from the apartment building.

You’re working less while maintaining your income.

What would this mean to you? Maybe you could spend more time with your family. Maybe you want to travel more. Pursue a hobby. Give back. Or maybe do more de”als.

How is something like this possible with apartment buildings? The answer is in how apartment buildings are valued.

How Do you Make Money On Apartment Investments?

The value of an apartment building is driven by its net operating income, the amount of income left after all expenses are paid. The more money the building spits out after all expenses, the more its worth.

In many parts of the country, a building is worth 10 times its net operating income. This 10 times multiplier is referred to as the capitalization or cap rate for short. Don’t worry about this for now – its not important to the point I’m trying to make. Lets just use a cap rate of 10 for our discussion.

Lets say a building has a net operating income of $100,000, which would make it worth $1M. If you could somehow make the building generate $10,000 more each year, maybe by increasing rents or decreasing expenses, you would have generated $100,000 in value (a cap rate of 10 times the additional income of $10,000 is an additional $100,000 in value).

Lets look at a more specific example, so that you can start visualizing how this math could work for you in real life.

Assume you bought a 10-unit building for $540,000, and you had to put 30% down. The building was bought at a 10-cap based on our formula we’ve used so far. Which means its net operating income (or NOI) is $54,000 per year, times our cap rate of 10 is $540,000. The income per unit is $1,000, and the expenses are 55% of the income. The building is in great shape and has been managed by the owner himself.

So far there is nothing special about this deal.

However, suppose you found out that the average market rent in the area is actually a $200 higher per month. Suppose further that you meet a property manager who manages two similar buildings in the area, and he tells you that his expenses are only 45% of income.

Lets say it takes us 3 years to get the building to where it should be, i.e. with each unit bringing in $1,200 per month and lowering our expenses to 45% of income. Here’s how this would impact our financials:

By making small improvements each year, we have added $25,000 to our Net Operating Income. What is our value now?

Our new NOI is $79,000, so our value now is about $790,000 ! That is an increase of $250,000 in three years! Isn’t that incredible?

But that’s not all.

You also had between $2,600 and $4,700 in monthly income from this building over those three years.

 

Led By Multifamily, Improvement Seen in All Commercial Real Estate

NATIONAL APARTMENT LENDERS ONLINE

Despite disappointing economic growth during the first quarter of 2014, the outlook for all of the major commercial real estate sectors is slightly improving, according to the National Association of Realtors® quarterly commercial real estate forecast.

Lawrence Yun, NAR chief economist, said the sluggish growth experienced in the first quarter is not indicative of the actual health of the economy. “Gross Domestic Product should expand closer to 3 percent for the remainder of the year. The improved lending for commercial loans and continuing job gains we’ve seen this spring bode well for modest progress in commercial real estate leases and purchases of properties.”

However, Yun cautions that with rising long-term interest rates on the horizon, consistent economic growth is imperative to solid commercial real estate investment in the years ahead.

Multifamily has led the way. “The multifamily sector continues to be the top-performer in commercial real estate with the lowest vacancy rates. However, tight availability – despite new construction – is causing rents to currently rise near 4 percent annually in many markets,” said Yun. “Many renters who are getting squeezed may begin to view homeownership as a more favorable, long-term option.”

NAR reported earlier this month in its annual Commercial Member Profile that despite subpar economic expansion, Realtors® who practice commercial real estate saw an increase in sales transaction volume and medium gross annual income in 2013.

NAR’s latest Commercial Real Estate Outlook offers overall projections for four major commercial sectors and analyzes quarterly data in the office, industrial, retail and multifamily markets. Historic data for metro areas were provided by REIS Inc., a source of commercial real estate performance information.

Multifamily Markets

The apartment rental market – multifamily housing – should see vacancy rates edge up from 4.0 percent in the second quarter to 4.1 percent in the second quarter of 2015, with added supply helping to meet growing demand. Vacancy rates below 5 percent are generally considered a landlord’s market, with demand justifying higher rent.

Areas with the lowest multifamily vacancy rates currently are New Haven, Conn., at 2.3 percent; Ventura County, Calif., 2.4 percent; and New York City; San Diego; Hartford, Conn.; Oakland-East Bay, Calif., and San Diego, at 2.5 percent each.

Average apartment rents are projected to rise 4.0 this year and in 2015. Multifamily net absorption is expected to total 221,400 units in 2014 and 173,100 next year.

Commercial Real Estate Market Trends – Due Diligence Tips

NO UP FRONT FEE COMMERCIAL LOANS

 

Winston Rowe and Associates prepared this article to provide commercial real estate investors with information concerning due diligence investigations for commercial real estate transactions.

 

Commercial real estate investors have been turning to Winston Rowe & Associates they are a national no upfront fee finance firm.

 

Winston Rowe and Associates can guide you through the process.

 

Due Diligence Tips

Local Pricing – Fluent in the latest real estate market trends, investors know in-demand commercial real estate markets, areas that offer rapid price acceleration and what’s a smoking hot good deal. Local newspapers, real estate agents and even courthouses that regularly record property deeds are all excellent sources of information, offering great insight into property value trends.

 

Catalyst – New infrastructure is often the precursor to up-and-coming areas. New roads and schools are signs that community growth is anticipated. Investing in new communities often means lower initial tax rates. Spotting these communities can be as simple as paying attention to new traffic lights, survey crews, land clearing and traffic lanes widening. Local building and transportation departments are also aware of new projects.

 

Taxes – If two identical towns were situated side-by-side, commercial real estate investors would choose to invest in a community that offers lower taxes. Real estate investors can take advantage of public information by contacting local tax assessors to inquire about tax rates and potential reassessments. Communities that are already at a maximum capacity for population may be planning to increase taxes to pay for more schools, roads and local infrastructure.

 

Schools – Investors need to invest in areas that are well rounded. The state boards of education provide updated information about school rankings. Good schools are an attractive selling point for parents and families.

 

Outskirts – As large metropolitan areas continue to grow, the outlying surrounding areas will continue to grow too. Often times, these outlying areas provide more affordable housing alternatives. Real estate investors should research areas that are close to public transportation. Additionally, public transportation expansion is often a key sign that areas may be gearing up for additional growth.

 

They are a national no upfront fee commercial hard money firm offering fast, flexible private money loan solutions. Winston Rowe and Associates has aggressive capital solutions that underwrite, fund with the flexibility to quickly structure the right loan package for your needs.

 

Winston Rowe and associates has commercial hard money loan solutions in the following states:

Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia,   Washington, Washington DC, West Virginia, Wisconsin, Wyoming

How To Find Hard Money Real Estate Capital

WINSTON ROWE AND ASSOCIATES

 

Finding the right real estate deal may seem like a most daunting task to an inexperienced investor but more seasoned ones know that there is an excellent alternative to traditional lending institutions – private or “hard” money. In fact, hard money offers some distinctive advantages to the funds provided by banks, savings & loans, and other traditional lending institutions.

Here are just three:

Hard Money Advantage #1: Enhanced Versatility

The most advantageous aspect of hard money loans is their versatility, since the loans are made by accredited investors – who make decisions about their money on their own – there is no need to jump through hoops of traditional lending institutions with their subjective loan criteria and their loan approval boards. Instead, if a lender and borrower can agree on terms, the deal can be consummated in a legally binding and very secure way.
Hard Money Advantage #2: Superior Security

Hard money loans are always secured by a first deed trust with a relatively low loan to value ratio. While these facts certainly benefit the lender, they are also useful to the borrower as he can be sure that his payments will be at an affordable level. Secondly, hard money loans are consummated with all the same protections as a traditional mortgage including appraisals, inspections and legally binding contracts.
Hard Money Advantage #3: Lowered Costs

Most homeowners don’t realize the amount of fees that are built into the closing costs of the home they are about to buy. The bank just calls them and tells them to bring a check. While these fees are “disclosed” in a mass of paperwork at the closing, they are simply identified and not really explained. This is how traditional lending institutions make the bulk of their money in real estate. Hard money loans, on the other hand, are made by investors who will see their returns come from the payments on the loan over time. You are always aware and in control of the origination fees, and can shop around for the hard money lender who will charge you the least amount of points and processing fees. The result is simply that less money is required to consummate the deal.

Tips For Finding Off Market Real Estate Investment Deals

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Off market real estate deals whether you’re looking for real estate for sale by owner or bank-owned properties, off market deals are frequently the best ones. Here are some strategies that can help you find them:

Off Market Real Estate Tip #1: Property for Sale By Owner

While FSBO pricing has improved with the availability of Internet data sources, it still isn’t always as spot-on-the-market as the list price that a qualified real estate agent will come up with. As such, you might find some FSBO deals that are under priced relative to other properties in the market.

Dealing directly with the owner may also give you additional negotiating leverage that you can use to turn even an overpriced property into a great deal.

Off Market Real Estate Tip #2: Expired Listings

When real estate that was listed expires, sometimes, the owner still wants to sell it. Furthermore, once real estate goes off the market, you can go directly to the owner and make an offer that is less than what he needed to get when he had to pay an agent.

These properties can turn into very good deals just on the basis of that discount alone.

Off Market Real Estate Tip #3: Know Area Lenders

While most conventionally-mortgaged homes end up going through Fannie, Freddie or Ginnie Mae’s sale process, properties that have loans held by local banks or private lenders have a much less predictable sale process.

Sometimes, you can contact the lender directly while the property is in foreclosure and carve out a position for yourself before the real estate goes on the market. Getting to know the realtors that work with private lenders can also give you a leg up.

Off Market Real Estate Tip #4: Contact Owners Directly

Another way to find property for sale by owner is to contact owners directly. When you do this by calling or writing and delivering the straightforward message that you are willing to buy the property, you can not only potentially avoid brokerage fees, but you can also avoid competition and maybe save money.

Success Strategies For Commercial Real Estate Investing

WINSTON ROWE AND ASSOCIATES REVIEW ON LINE

 

There are two different types of real estate investors: those that are speculative and take higher risks and those that are more conservative and desire safe, long-term investments.
While speculative investing can be fun and exciting, it can also result in financial ruin. It is necessary that speculative investors thoroughly analyze investments before committing to property purchases.

The most common formula used in commercial real estate investment properties is the capitalization rate. Otherwise simply known as CAP, this rate compares a property’s annual income, factoring in operating and vacancy expenses, and ultimately equates this in net operating income (NOIP) terms, comparing sales price ratios. The CAP rate does not reflect the individual investment’s return percentage, but if no financing is involved, the CAP rate will be relatively close in number.

The CAP rate can be found by dividing the NOI by the price or value of the property. This number is expressed as a percentage. Many banking institutions and hard money lenders focus on the CAP rate when lending money to investors.

If a property investment has long-term tenants, lengthy leases and limited commitment for landlords (low building maintenance costs and repairs), then it may be sufficient for an investor to accept a lower CAP rate. If a property, however, has unstable tenants and a volatile local real estate market, a higher CAP rate is reflected. A higher CAP rate reflects a higher investor risk.

There are five factors that define good commercial real estate investments.

Income – Commercial properties produce income. Stockholders only see income when stocks are sold; however, real estate investors receive income through rent payments.

Capital Appreciation – This financial concept revolves around if rent prices increase, then property values by default also increase.

Leverage – With nearly 70- to 80-percent of commercial property funding in the form of mortgages, investors are able to free up other capital for additional investments.

Security – While stocks are based on the simple price-to-earning concept, real estate is based strictly on demand.

Diversity – Commercial properties often house diverse tenants, ranging from grocery stores, clothing vendors, restaurants and gift shops to retail businesses. This allows landlords to diverse their holdings, not putting all of their eggs in a single basket.

Success Tips for using LinkedIn

WINSTON ROWE AND ASSOCIATES WEB SITE

 

Winston Rowe & Associates is a national non investment due diligence and advisory firm with a core focus of assisting clients with the structuring complex commercial real estate transactions.

 

We have prepared this knowledge based article to help business professionals to utilize LinkedIn to grow their businesses and to build professional social networks.

 

Many people set up a profile, connect with some friends, and then leave it at that. Another class of LinkedIn users are much more active, but perhaps too active, spamming their connections and LinkedIn groups with get-rich-quick schemes or articles, the posting of which is designed more to bring attention to the one doing the posting than to provide any true value to LinkedIn users.

 

Effective Communication

 

Connecting and effectively communicating with people through LinkedIn is no different than dealing with people outside of the network. Whether they are a supplier, potential partner or customer you need to build enough value for them to trust you in order for them to grow an interest in your company and therefore your product/service.

 

I can’t recall how many times I have accepted a connection invite from someone to then receive an email marketing spiel about who they are, what they can do for me and how much it is going to cost me. Oh and I forgot to mention that none of this was addressed to me personally, no name at the top of the email.

 

To be successful on LinkedIn and in business overall you have to add value first. Just because they accepted your connection invite doesn’t mean they are interested in what you have to say, remember this quote: “To be interesting you have to be interested.”

 

Before you start emailing marketing to your contacts, think of a few ways you could add value to them. For example it may be that within your connections there are about 100 accountants of whom you have recently connected and would like to potentially partner with. Your first email could be a sending a link to a recent article knowledge based article that you published. This shows you were thinking of him/her. Your second email could be a FREE EBook you have found that helps accountants generate more business etc.

 

This will help develop the trust and rapport necessary between your connection so that when you contact them to hold a meeting they not only recognize you but most importantly interested.

 

Building Your Connections

 

Building your connections for the sake of having a large following is not really a sound strategy if you want to effectively grow your business using LinkedIn. Every connection needs to be linked to your goals and objectives in business both now and in the future.

 

Before growing your network on LinkedIn take a step back and think about some of the goals you would like to achieve within your business over the next year or so. With these goals in mind now think about who you need to connect with in order to help you achieve those goals. For example when I first started using LinkedIn I just launched my business advisory service and given I had no personal brand other then my results in business I knew this was one of the areas I needed to develop.

 

And as many of you would know one way to build your brand is through PR. With this goal in mind I then connected with over 500 journalist, editors and bloggers online and in a space of a couple of months I managed to get featured in over 40 publications and now write for a few business magazines.

 

Segmenting your connections

 

I learnt the importance of segmenting your connections the hard way. Within my first 6 months of using LinkedIn I had connected with over 1000 people within 3 different industries: Media, Accounting & Events.

 

My aim was to use the media contacts to get some PR exposure, accounting connections to create a few joint venture relationships and connections within the events industry to hopefully get some speaking gigs.

 

There was just one problem though: All my connections were mixed in with one another, not by choice but by default. You see, little to my knowledge I wasn’t aware that all new connections are automatically tagged under a folder which LinkedIn calls: Untagged.

 

I knew that in order for me to reach any level of success I would have to personalize my communication and because I could not properly assess who was who quickly within the tags section I had to go through the entire (1000) connections in the untagged folder and re-tag them accordingly.

 

Whilst it was tedious and frustrating at the best of times it was also very empowering. By the end of the process I knew precisely how many connections I had in each industry, which therefore helped me effectively, communicate my message.

 

NO UPFRONT FEE COMMERCIAL REAL ESTATE FINANCING AND INVESTING

WINSTON ROWE & ASSOCIATES WEB SITE

 

Winston Rowe and associates is presenting this third quarter market update to assist and inform real estate investors nationwide.

Whether you are in need of short term financing such as a private capital, private equity and traditional permanent financing, they work with clients to structure a transaction that will meet or exceed their expectations. They have capital to deploy nationwide.

Prospective clients can review Winston Rowe and Associates at http://www.winstonrowe.com or they can be contacted at 248 246 2243. A principal is always available to take your call.

FreddieMac’s current Multi-Indicator Market Index SM (MiMiSM) shows the U.S. housing market overall largely flat compared to the prior month and especially since last year at this time.

Of those markets that are improving or experiencing a stable range of housing activity, most are benefiting from the energy boom taking place along the country’s mid-section.

Figures indicate a weak housing market overall with only a slight improvement from February to March and a 3-month flat trend. However, on a year-over-year basis, the U.S. housing market has improved by 0.66 points. The nation’s all-time MiMi low of -4.49 was in November 2010 when the housing market was at its weakest.

Ten of the 50 states plus the District of Columbia are in their stable range with North Dakota, Wyoming, the District of Columbia, Alaska, and Louisiana ranking in the top five and unchanged from last month.

Four of the 50 metro areas are in their stable range, San Antonio, New Orleans, Austin and Houston.

The five most improving states month-over-month are Ohio (+0.12), Rhode Island (+0.11), Illinois (+0.10), Texas (+0.10) and South Carolina (+0.09). From one year ago the most improving states remained unchanged: Florida (+1.83), Nevada (+1.60), South Carolina (+0.99), California (+0.97) and Texas (+0.96).

The five most improving metro areas month-over-month are Cincinnati (+0.11), Columbus (+0.11), Houston (+0.10), Riverside (+0.10), and San Antonio (+0.10). From one year ago the most improving metros remained unchanged: Miami (+2.37), Orlando (+1.91), Las Vegas (+1.71), Tampa (+1.57), and Riverside (+1.44).

Overall, in March, 13 of the 50 states plus the District of Columbia are improving based on their three month trend, and 20 of the 50 metros show an improving trend.

“Less than half of the housing markets MiMi covers are showing an improving trend, whereas at this same time last year more than 90 percent of these same markets were headed in the right direction. We’re hopeful that many of these markets that have stalled will start moving again now that mortgage rates have eased over the past month and the spring home buying season is upon us. House price gains are a double-edged sword at this stage of the recovery. They help those hard-hit markets where prices are still low and many homeowners are underwater, but in areas where supply is constrained, they’re creating an imbalance and pricing out many first-time homebuyers.”

MiMi monitors and measures the stability of the nation’s housing market, as well as the housing markets of all 50 states, the District of Columbia, and the top 50 metro markets. MiMi combines proprietary Freddie Mac data with current local market data to assess where each single-family housing market is relative to its own long-term stable range by looking at home purchase applications, payment-to-income ratios (changes in home purchasing power based on house prices, mortgage rates and household income), proportion of on time mortgage payments in each market, and the local employment picture.

The four indicators are combined to create a composite MiMi value for each market. Monthly, MiMi uses this data to show, at a glance, where each market stands relative to its own stable range of housing activity. MiMi also indicates how each market is trending, whether it is moving closer to, or further away from, its stable range. A market can fall outside its stable range by being too weak to generate enough demand for a well-balanced housing market or by overheating to an unsustainable level of activity.

At Winston Rowe & Associates, their primary objective is to provide the most reliable and efficient means of sourcing both debt and equity for your commercial real estate loans. Recognizing that people and relationships drive this business, they are staffed with some of the industry’s most committed professionals.

Winston Rowe & Associates provides no upfront fee commercial bridge financing in the ensuing states.
Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, MaineMaryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia,   Washington, Washington DC, West Virginia, Wisconsin, Wyoming

Investing In Commercial Real Estate

WINSTON ROWE AND ASSOCIATES WEB SITE

There’s an old joke in commercial real estate: If you think nobody cares you’re alive, just miss a few mortgage payments.

Unfortunately, there was a lot of that going on during the credit crisis that started in 2008, as commercial real estate values went into a freefall.

According to the Massachusetts Institute of Technology Center for Real Estate, commercial property values fell by 10.6% in the fourth quarter of 2008, alone – the biggest price drop since 1984.

But to savvy real estate investors, times of lower prices typically reveal genuine investment opportunities. For instance, according to a survey by Marcus & Millichap Real Estate Investment Services, of 1,129 commercial property investors, 51% planned to increase commercial real estate allocations during the 2008 credit crisis.

So, despite the significant drop-off in acquisition plans from the peak in 2005, more than half of investors still planned to increase their commercial real estate holdings. A mere 11% planned to reduce their real estate portfolios in 2009.

Finding a Good Commercial Real Estate Deal

Ask any real estate professional about the benefits of investing in commercial property and you’ll likely trigger a monologue on how such properties are a better deal than residential real estate. Commercial property owners love the additional cash flow, the beneficial economies of scale, the relatively open playing field, the abundant market for good, affordable property managers and the bigger payoff from commercial real estate.

But how do you evaluate the best properties. And what separates the great deals from the duds?

Like most real estate properties, success starts with a good blueprint. Here’s one to help you evaluate a good commercial property deal.

Learn What the Insiders Know

To be a player in commercial real estate, learn to think like a professional. For example, know that commercial property is valued differently than residential property. Income on commercial real estate is directly related to its usable square footage. That’s not the case with individual homes. You’ll also see a bigger cash flow with commercial property.

The math is simple: you’ll earn more income on multifamily dwellings, for instance, than on a single-family home. Know also that commercial property leases are longer than on single-family residences.

That paves the way for greater cash flow. Lastly, if you’re in a tighter credit environment, make sure to come knocking with cash in hand. Commercial property lenders like to see at least 30% down before they’ll give a loan the green light.

Map Out a Plan of Action

Setting parameters is a top priority in a commercial real estate deal. How much can you afford to pay? How much do you expect to make on the deal? Who are the key players? How many tenants are already on board and paying rent? How much rental space do you need to fill?

Learn to Recognize a Good Deal

The top real estate pros know a good deal when they see one. What’s their secret? First, they have an exit strategy – the best deals are the ones where you know you can walk away from. It helps to have a sharp, landowner’s eye – always be looking for damage that requires repairs, know how to assess risk and make sure to break out the calculator to ensure that the property meets your financial goals.

Get Familiar With Key Commercial Real Estate Metrics

The common key metrics to use for when assessing real estate include:

Look for Motivated Sellers

Like any business, customers drive real estate. Your job is to find them – specifically those who are ready and eager to sell below market value.

The fact is that nothing happens – or even matters – in real estate until you find a deal, which is usually accompanied by a motivated seller. This is someone with a pressing reason to sell below market value. If your seller isn’t motivated, he or she won’t be as willing to negotiate.

Discover the Fine Art of Neighborhood “Farming”

A great way to evaluate a commercial property is to study the neighborhood it’s located in by going to open houses, talking to other neighborhood owners, and looking for vacancies.

Use a “Three-Pronged” Approach to Evaluate Properties

Be adaptable when searching for great deals. Use the internet, read the classified ads and hire bird dogs to find you the best properties. Real estate bird dogs can help you find valuable investment leads in exchange for a referral fee.

The Bottom Line

By and large, finding and evaluating commercial properties is not just about farming neighborhoods, getting a great price, or sending out smoke signals to bring sellers to you. At the heart of taking action is basic human communication. It’s about building relationships and rapport with property owners so they feel comfortable talking about the good deals – and doing business with you.

INVESTING IN COMMERCIAL REAL ESTATE

WINSTON ROWE & ASSOCIATES WEB SITE

Real estate investing has been around for centuries, but the factors shaping today’s real estate investment market and the strategies that work to succeed as an investor are markedly different than they were just 5 or 10 years ago. However, below are five sustainable real estate investment tips that can help you prosper as a real estate investor no matter what shape the market is in.

#1 – Invest in undervalued rental property on the fringes of desirable neighborhoods. Rental properties located in lower to middle income area on the edge of more desirable neighborhoods typically sell for half the cost — or less! — of similar properties in bordering areas, but rent for about the same price. Your property has the potential of delivering a return of twice or more than the initial investment.

#2 – Don’t speculate. Invest in properties with proven cash flow. With speculative investing, you are left hoping and waiting for the property to increase in value. And sometimes, this just never happens. Investing in middle to lower homes allows you to greatly increase your chance of having guaranteed profits because as the economy improves, lower class families move up to better homes and during economic downturns, middle class families move to lower cost properties.

#3 – Increase the security deposit and decrease your risk. Two of the most costly problems for rental property investors are unpaid rent and risk of property damage. Raising your security deposit will help protect your profits and it will also help you attract more qualified renters.

#4 – Rethink your tenant pool. Most rental owners shy away from renting to families with children and pets because they are afraid of the wear and tear on their property. But this is a mistake you should avoid. Families tend to be more responsible and take better care of the house, plus they already expect to pay higher security deposits and are actually the most likely group to become long term tenants because they have trouble finding other landlords willing to rent to them

#5 – Communication is key. Negotiation skills are essential in real estate investing but instead of focusing on getting only what you want, work towards win-win solutions that let others know you have taken the time to understand their needs as well. Listen carefully and determine what is most important to the person you are communicating with. With practice, you’ll learn how to develop win-win deals that provide solutions to other people’s problems and lead to your own personal financial gain.

Review of Winston Rowe and Associates Commercial Real Estate Financing

Free Book Review

Announcing , The Free eBook Commercial Real Estate Finance published by Winston Rowe & Associates  discusses the fundamentals of the different types of commercial property, the various options that are included with properties and the capabilities that you will have as a commercial property investor.

It will enable you to make the right decisions when it comes to commercial properties. After you have read this book, you will be able to successfully choose a commercial property for your real estate business.

This book will help you to figure out everything that has to do with commercial properties. Also included with this book are different ideas on what you can do to make sure that you are getting the best financing possible. You will be able to truly enjoy the opportunities that come along with financing and with the different options that you have.

It’s loaded with all the check lists you’ll need to conduct your due diligence to avoid a bad investment. There are detailed descriptions of the various types of capital sources and how to prepare and submit your financing proposal.

You will need to make sure that you can secure financing but it is not a cut and dry experience for everyone. The tips that are included with this book will give you the best chance at getting financing.

 

 

Non-Recourse Commercial Loans And Standard Carve Outs

The common understanding of a non-recourse commercial real estate loan is that an individual has little to no personal liability should a default occur. However, this isn’t always the case. An individual signing on behalf of the borrowing entity, Sponsor, isn’t always immune from personal liability.

Non-recourse loans have exceptions within the loan documents that essentially transfer personal liability to the Sponsor for certain “bad boy” behaviors. Or more specifically, there are personal guarantees required with non-recourse loans.

Not only is the Sponsor personally liable for bad boy behaviors, individuals or entities providing limited guaranties or indemnification can still be liable.

Typical exceptions include:

Losses for fraud or intentional misrepresentation

Losses for waste

Losses for misappropriation of tenant security deposits or rents

Specific performance of the loan documents

To foreclose and obtain title to the collateral

To enforce any guaranty

To enforce any indemnity

To enforce any environmental indemnity

To enforce any release of liability

To obtain a receiver

To enforce the assignment of leases and rents

Losses regarding required insurance of the collateral

Losses from the failure to pay over insurance proceeds

Losses from the failure to pay over condemnation awards

Voluntary bankruptcy or insolvency

Involuntary bankruptcy or insolvency

While these are typical carve outs, each lender’s loan documents will differ and each state will have their own “legal” interpretation of these carve outs.

Examples where carve outs can affect Sponsor liabilities include:

The lender may be able to sue the Sponsor if fraud or material misrepresentation affects the selling price of an asset creating a deficiency of proceeds to cover the loan.

Losses for misappropriation of tenant security deposits or rents: The lender can pursue its rights to the security deposits or rents as additional security under the loan documents. If the security deposits or rents are unavailable, then the lender is left with seeking a personal judgment against the borrower for the missing security, and the lender could pursue tort claims such as for conversion.

Additionally, rent skimming is using revenue from the rental of residential real property at any time during the first year after acquiring the property without first applying the rent (or an equivalent amount) to the mortgage payments.

To enforce an environmental guaranty: An environmental indemnity will survive a non-judicial foreclosure sale. A lender may sue for money or to enforce an “environmental provision” (a representation or covenant concerning hazardous substances) without violating a state’s anti-deficiency laws.

To enforce any release of liability: A release of liability should survive a non-judicial foreclosure sale because a release has nothing to do with obtaining a deficiency, or otherwise trying to enforce a monetary obligation of the Sponsor.

To enforce the assignment of leases and rents: In the event of a non-judicial foreclosure, the lender can still obtain pre-sale rents held by a receiver under an assignment of rents clause, up to the amount of the deficiency, since the assignment of rents is treated as additional security. (Simply suing the Sponsor prior to the non-judicial foreclosure sale for enforcement of the assignment of rents and lease provisions of a deed of trust is also allowable).

Losses regarding required insurance of the collateral: Insurance proceeds are treated as additional security that is available to the lender. The lender can seek a personal money judgment against the Sponsor for its breach of the loan documents.

Losses from the failure to pay over insurance proceeds: After a non-judicial foreclosure leaving a deficiency the lender can seek to recover insurance proceeds to which it is entitled under the loan documents. If recovering the proceeds from the Sponsor proved impossible, then the lender is left with seeking a personal judgment against the Sponsor for the missing proceeds. The lender could sue in tort for conversion.

While it seems non-recourse commercial loans have “teeth” when it comes to personally liability, it may not always be the case. In the event of a non-judicial foreclosure, if the lender bids at the sale and obtains the property, or if someone else purchases the property, the amount of bid must be deducted from the amount owing. If there is no deficiency, the lender has little recourse attempting to enforce any of the bad boy carve outs. Additionally, the lender will always need to prove its actual losses directly caused by breach of any bad boy provision.

Buyers of Commercial Notes National Report

 

Winston Rowe & Associates is actively acquiring commercial real estate notes nationwide. They have a core focus on both performing and non performing acquisitions starting at $5,000,000. through $100,000,000.

What makes their acquisition programs unique is that they work with all note holder types that include individual investors, regional banks and institutions through the United States.

Winston Rowe & Associates has some of the most responsive service in the business providing their clients with a hands-on, customer service-centered experience that will guide them through the acquisition process quickly and efficiently.

Commercial Note Purchase Criteria:

Coverage: Nationwide

Deployment: $5,000,000. through $100,000,000.

Asset Class: Performing & Non Performing Commercial Real Estate Notes

Time Frame: 30 Days

When you contact Winston Rowe & Associates, a principal is always ready to speak with prospective clients. For more information about their commercial loan solutions check them out on line at http://www.winstonrowe.com (http://www.winstonrowe.com)  or call them at 248-246-2243.

National Commercial Real Estate Investing Loans No Advance Fees

Winston Rowe & Associates a national no advance fee commercial real estate investing financing firm. With direct access to the most aggressive investor sources in the world, they can structure a customized financing solution for clients, with the best terms possible.

For more information about Winston Rowe & Associates apartment building loan programs, they can be contacted at 248-246-2243 or visit them online at http://www.winstonrowe.com

They provide their clients with a private banking approach through specialized lending solutions to quickly and efficiently determine the best options for their clients.

Winston Rowe & Associates Financing Solutions:

Loan Amounts From $1,000,000 through $500,000,000
Hard Money Bridge Loans Fast 2 Week Closings
Private Equity Solutions
Small Business Administration (SBA) Loans
Purchase, Refinance & Portfolio Repositioning
Bank Discounted Note Financing (DPO)
Eligible Commercial Properties Include:
Multi-family
Single Family Residential
Office
Industrial
Mixed Use
Hotels
Special Purpose
Retail
Health Care

Winston Rowe & Associates has no upfront free commercial loans in the following states.

Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine,  Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee,   Texas, Utah, Vermont, Virginia,   Washington, Washington DC, West Virginia, Wisconsin, Wyoming

Commercial Loan Underwriting and Due Diligence Winston Rowe and Associates

Winston Rowe & Associates offer expert due diligence, underwriting and funding solutions for apartment loans, office, hotel, industrial or retail property loans, with no upfront or advance fees.

Whether you are a seasoned investor or new to the market, Winston Rowe & Associates is there to help you explore your best options for commercial financing.

They can be contacted at 248-246-2243 or visit them on line at http://www.winstonrowe.com

Professional Underwriting & Due Diligence:

With almost a decade of experience in structuring commercial real estate deals, they have direct relationships with private equity, private capital. agencies, life companies, conduits, and “out-of-the-box” regional and national commercial lenders.

It’s important to work with a partner who understands your industry and can structure the right program to help you achieve your goals.

In addition to permanent debt financing, Winston Rowe & Associates regularly structures transactions using high-leverage bridge loans, mezzanine debt, construction loans and straight equity.

At Winston Rowe & Associates, their primary objective is to provide the most reliable and efficient means of sourcing both debt and equity for your commercial real estate loans. Recognizing that people and relationships drive this business, they are staffed with some of the industry’s most committed professionals.

Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine,  Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia,   Washington, Washington DC, West Virginia, Wisconsin, Wyoming

National Association of Realtors Economic Outlook

According to the National Association of Realtors® quarterly commercial real estate forecast, all of the major commercial real estate sectors are seeing improved fundamentals, but multifamily housing is becoming a landlord’s market commanding bigger rent increases. These trends also are confirmed in NAR’s recent quarterly Commercial Real Estate Market Survey.

Lawrence Yun, NAR chief economist, said vacancy rates are improving in all of the major commercial real estate sectors. “Sustained job creation is benefiting commercial real estate sectors by increasing demand for space,” he said. “Vacancy rates are steadily falling. Leasing is on the rise and rents are showing signs of strengthening, especially in the apartment market where rents are rising the fastest.”

NAR forecasts commercial vacancy rates over the next year to decline 0.4 percentage point in the office sector, 0.8 point in industrial real estate, 0.9 point in the retail sector and 0.2 percentage point in the multifamily rental market.

“Household formation appears to be rising from pent-up demand,” Yun said. “The tight apartment market should encourage more apartment construction. Otherwise, rent increases could further accelerate in the near-to-intermediate term.”

The Society of Industrial and Office Realtors® shows a notable gain in its SIOR Commercial Real Estate Index, an attitudinal survey of 297 local market experts.1

The SIOR index, measuring the impact of 10 variables, jumped 8.3 percentage points to 63.8 in the fourth quarter, following a gain of 0.6 percentage point in the third quarter. The index remains well below the level of 100 that represents a balanced marketplace, which was last seen in the third quarter of 2007.

Most market indicators posted advances in the fourth quarter, but 71 percent of respondents said leasing activity is below historic levels in their market – an improvement from 83 percent in the third quarter. Only 29 percent report there is ample sublease space available.

Office and industrial space remains a tenant’s market – 87 percent of participants feel that tenants are getting a range of benefits ranging from moderate concessions to deep rent discounts.

Construction activity is still low, with 95 percent of experts reporting it is below normal, and 83 percent said it is a buyers’ market for development acquisitions; prices are below construction costs in 78 percent of markets.

Participants are broadly expecting stronger conditions for the current quarter, with two out of three expecting market improvement.

NAR’s latest Commercial Real Estate Outlook2 offers projections for four major commercial sectors and analyzes quarterly data in the office, industrial, retail and multifamily markets. Historic data for metro areas were provided by REIS, Inc.,3 a source of commercial real estate performance information.

Office Markets

Vacancy rates in the office sector are projected to fall from 16.4 percent in the current quarter to 16.0 percent in the first quarter of 2013.

The markets with the lowest office vacancy rates presently are Washington, D.C., with a vacancy rate of 9.5 percent; New York City, at 10.0 percent; and New Orleans, 12.4 percent.

After rising 1.6 percent in 2011, office rents should increase another 1.9 percent this year and 2.4 percent in 2013. Net absorption of office space in the U.S., which includes the leasing of new space coming on the market as well as space in existing properties, is forecast at 20.1 million square feet in 2012 and 28.1 million next year.

Industrial Markets

Industrial vacancy rates are likely to decline from 11.7 percent in the first quarter of this year to 10.9 percent in the first quarter of 2013.

The areas with the lowest industrial vacancy rates currently are Orange County, Calif., with a vacancy rate of 4.8 percent; Los Angeles, 4.9 percent; and Miami at 7.6 percent.

Annual industrial rent is expected to rise 1.8 percent in 2012 and 2.3 percent next year. Net absorption of industrial space nationally is seen at 40.6 million square feet this year and 57.7 million in 2013.

Retail Markets

Retail vacancy rates are forecast to decline from 11.9 percent in the current quarter to 11.0 percent in the first quarter of 2013.

Presently, markets with the lowest retail vacancy rates include San Francisco, 3.6 percent; Fairfield County, Conn., at 5.1 percent; and Long Island, N.Y., at 5.4 percent.

Average retail rent should rise 0.7 percent this year and 1.2 percent in 2013. Net absorption of retail space is projected at 9.9 million square feet this year and 23.9 million in 2013.

Multifamily Markets

The apartment rental market – multifamily housing – is likely to see vacancy rates drop from 4.7 percent in the first quarter to 4.5 percent in the first quarter of 2013; multifamily vacancy rates below 5 percent generally are considered a landlord’s market with demand justifying higher rents.

Areas with the lowest multifamily vacancy rates currently are New York City, 1.8 percent; Minneapolis and Portland, Ore., each at 2.5 percent; and San Jose, Calif., at 2.7 percent.

After rising 2.2 percent last year, average apartment rent is expected to increase 3.8 percent in 2012 and another 4.0 percent next year. Multifamily net absorption is forecast at 209,900 units this year and 223,600 in 2013.

The Commercial Real Estate Outlook is published by the NAR Research Division for the commercial community. NAR’s Commercial Division, formed in 1990, provides targeted products and services to meet the needs of the commercial market and constituency within NAR.

The NAR commercial components include commercial members; commercial committees, subcommittees and forums; commercial real estate boards and structures; and the NAR commercial affiliate organizations – CCIM Institute, Institute of Real Estate Management, Realtors® Land Institute, Society of Industrial and Office Realtors®, and Counselors of Real Estate.

Approximately 78,000 NAR and institute affiliate members specialize in commercial brokerage and related services, and an additional 232,000 members offer commercial real estate services as a secondary business.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries.

Commercial Real Estate Outlook Improves Winston Rowe & Associates

Optimism over corporations’ rising profit expectations is contributing to an improved outlook for commercial real estate, according to PwC and Urban Land Institute’s 2012 Emerging Trends Mid-Year Update. The 195 industry executives who responded to the survey indicated that profitability, lending, and investor markets are looking up through year-end.

Foreign investors and private equity will remain the top purchasers of commercial real estate through the remainder of the year, according to the survey. However, private local investors and public equity real estate investment trusts buyers acquired an increasing share of properties in 1Q12, according to Real Capital Analytics.

The value of debt capital sources is showing positive signs, with insurance companies occupying the No. 1 spot and government-sponsored entities’ value increasing more than 11 percent since November 2011. Commercial mortgage-backed securities, commercial banks, and mezzanine lenders also posted positive gains.

All five major commercial real estate property sectors also reported higher values, according to the survey. Apartments continue to rank first, followed by the industrial/distribution sector, which posted a significant value increase. Hotels ranked third and logged the biggest gain overall as corporate and individual travel show signs of improvement.

Types of Commercial Real Estate Loans Explained Winston Rowe & Associates

Winston Rowe & Associates a no advance fee commercial real estate finance firm has prepared this article to assist brokers and real estate investors with descriptions of the various types of commercial real estate loan programs that they offer.

If you would like additional information about Winston Rowe & Associates their telephone number is 248-246-2243, or prospective clients can visit them online at http://www.winstonrowe.com

Acquisition

 An acquisition loan is used to acquire commercial property using the loan proceeds. This can include improved lots to already constructed and operating property. Winston Rowe & Associates loan sizes range from $1M to $500M with 15 to 30 year schedules; variable and fixed interest rates available (verify current rates); purchases are 80% of purchase price; loan to value, 75% on most products; debt service coverage- apartments (multi-family) 1.15, commercial- 1.20; assumable for most scenarios; closing time- 30 to 60 days from the receipt of the complete package and supporting documents.

Acquisition and Development

Winston Rowe & Associates provides loans to both acquire and develop real property to an improved state. Voucher control is set up to disperse loan proceeds with interest only paid on the funds distributed. Their programs can typically go to 75% loan to cost or 80% loan to value, whichever is less. They can typically provide a 2 to 3 year loan term for the construction, a 3 year mini-perm loan to stabilize the project, and permanent financing at the end. The permanent financing will vary by property type but usually Winston Rowe & Associates can provide a 30 year amortization and 10 year fixed rate financing that is a margin range of 1.85 to 2.50 over the 10-year Treasury.

Asset Based

These are loans for any purpose whereby collateral is put up for security.

ASSET TYPES: Commercial Real Estate, Equipment, Assignable Assets, Stocks, Bonds, Sports Contracts, Precious Metals, Accounts Receivable, Cash, Fine Arts, etc.

TYPES OF LOANS: Acquisition loans, Bridge loans, Development loans, Gap financing, Interim financing, Mezzanine financing, Short-term credit resolution, Project rescue funds for emergency situations, Factoring of accounts receivable; L

Loan amounts from $1M to $100M.

Bankruptcy

Debtor in Possession  (DIP) financing on real property assets until institutional financing is available or the sale of the asset occurs these loans range from $1M to $25M.

Bridge Loan

A bridge loan is a loan that is used for a short duration of time until permanent financing is put in place. Bridge loans are a perfect solution to a timely acquisition or business opportunity because they allow a purchaser or investor to act quickly. These loans can be used for acquisition, buy-outs, foreclosures, cash out and construction purposes. It is a form of short-term financing made for 1 month to 12 months (extensions are possible); up to 36 months, up to 90% financing; loan range from $1M to $50M.

Construction

A construction loan is a loan used to construct a building or other improvements of real property, with the land and improvements as collateral for the loan. Construction reserve accounts are generally maintained to disburse the money as the construction progresses. Up to 80% of the cost of the construction is available depending on the improved value.

Hard Money

For the following loan purposes: Acquisition, Raw Land, Bridge Financing, Construction, Bankruptcy Discharge, Refinance, Equity Recapture, Pending Foreclosure, and Poor Credit / Late Pay etc. will be considered; after approval, fast funding in days, when needed, on any type of commercial real estate project; credit challenges not a problem, all requests will be considered; loan amounts: $1M to $100M per project; TIMING: Loan decisions can typically be made within 24 hours from the receipt of the required items and documentation needed by underwriting; after loan approval and depending on the attorney’s time to draw up the loan agreement/contract, funding can occur within 3 to 7 days or longer; LOAN TERM: 1 to 12 months or longer; LOAN TO VALUE: 50% or more, depending on the asset/collateral; INTEREST RATE: from 13% to 20%; Points can range from 6 to 10, depending on the specific property, the borrowers credit and the loan amount; Terms: The funding parameters, specific terms, timing, and costs will be based on the business analysis and overall risk assessment and strength of the project and the Principals. Since our sources are very competitive, the Principals’ project will receive the rate and terms that it deserves.

Mezzanine

A mezzanine loan is a loan that is subordinate to a primary lender but it is debt that gives the Client the ability to drive the total financing to a higher leverage level, as compared to traditional bank financing alone (typical CLTV is 85% to 90%; in some cases, up to 95%). Mezzanine financing has become a common methodology to secure supplementary financing for real estate acquisitions and development projects. A mezzanine loan can be a freestanding loan that can be used for an existing property/properties or for properties that are under construction and the mezzanine loan can be secured by a second mortgage or a pledge of partnership interests. This is typical in cases where the primary mortgage or construction loan equity requirements are larger than 10%. The mezzanine loan provides additional funding when the first mortgage is at the maximum loan amount; the mezzanine loan amount can be $1M and larger; the preference is $3M to $30M; larger transactions will be considered on a case-by-case basis.

 

Commercial Real Estate Investment Strategies Winston Rowe & Associates

Commercial Real Estate Investment Strategies

Winston Rowe & Associates a national no upfront fee commercial real estate finance firm is finding the commercial property sector looking stronger with analysts and is predicting the sector to make a recovery in a few markets throughout the year and expecting positive growth in rent and capital values in Southern California, North Dakota, Dallas Texas, Chicago, Washington DC, Seattle and Denver.

For investors considering buying commercial property as an investment, there are some things they need to know about investing in this sector.

Building Design

Unlike retail or residential property, commercial office space and industrial property respond more strongly to changes in building design. Compliance and standards can also add to the costs of maintenance of commercial property which can affect your balance sheet.

Location

Changes to the location can also greatly affect the value of your investment. The relocation of a prime industrial districts or retail closures could drastically change the capital value and potential rental return of your investment.

Liquidity

Commercial property has much less liquidity than other investments, including residential property. Commercial real estate is heavily reliant on investors, who make their decisions on the state of the market.

Risk

The risk involved in commercial real estate investment can vary. Investing directly means you are taking on all of the risk associated with the ownership of the property, and will be responsible for any maintenance costs and upgrades that need to be made. However, there are a number of financial incentives total ownership, including being able to claim depreciation against your income. Meanwhile, if your investment lies with a Real Estate Investment Trust, you will be sharing the risk with other investors.

Winston Rowe & Associates has a core focus on building long-term relationships, delivering exceptional and individualized customer service, and positioning loan products that best achieve their client’s goals. Their preemptive problem-solving approach is perfect for clients with credit and time sensitive issues.

 

Winston Rowe and Associates Fee Commercial Real Estate Listings & Investing

Winston Rowe & Associates, a no upfront fee commercial property financing firm has scoured the Internet to find the best sources for free commercial real estate listings and investment analysis.

If your looking for real estate properties for commercial investing or need background information on a asset? The following link will take you directly to the free commercial real estate and investing resources:

http://www.winstonrowe.com/Free_Real_Estate_Resources.html

Description of The Free Resource Links:

National Real Estate Investor.com

This is the leading authority on commercial real estate trends. The magazine’s readers represent a cross-section of disciplines — brokerage, construction, owner/development, finance/investment, property management, corporate real estate, and real estate services. No other publication provides as much independent research on a variety of topics that pertain to the office, industrial, retail, hotel and multifamily markets as National Real Estate Investor. We also produce webinars, white papers, research, custom publishing, reprints and custom conferences for our clients.

Cityfeet.com

This is the leading online commercial real estate network, connecting commercial real estate property owners and brokers to tenants, brokers and investors. Cityfeet offers commercial real estate products and services catering to the national and local needs of the commercial real estate industry. Cityfeet specializes in all commercial real estate property categories including office space, executive suites, commercial land, industrial property, retail space and businesses for sale. Cityfeet is the #1 source of free commercial real estate information for commercial real estate professionals and powers the commercial real estate area of many of the country’s most popular websites.

CIMLS.com

They provide real estate brokers and investors with a centralized online commercial multiple listing service (MLS). With over 250,000 registered members and $47 billion dollars worth of commercial property listings ranging from farms for sale to office buildings for lease CIMLS.com offers the largest free commercial real estate information service online today. Our partners attract a strong community of investors, commercial real estate brokers, appraisers, lenders and other real estate professionals. By working together, the CIMLS.com community offers you a full-service free commercial mls to buy, sell, or lease your investment properties. Join the commercial realty professionals at Century 21, CBRE, Coldwell Banker, Grubb & Ellis, Prudential and ReMax.

Commercial IQ

They are the most powerful commercial real estate search online, drawing commercial property listings from local brokerages and associations nationwide.

SHOWCASE.com

This search engine is for business professionals and investors looking for their next commercial property to lease or buy. Search from over one million properties across all asset classes, including: office space for lease, office space for sale, industrial property for lease, warehouses for sale, retail properties for lease, retail property for sale, multifamily apartments and land investments.

Zillow.com

They are one of the largest real estate Web sites in the U.S. and has become the premier destination for buyers, sellers, renters, homeowners, landlords, and real estate professionals.

Trulia.com

It’s an all-in-one real estate site that’s jam-packed with the most useful and timely information on homes for sale, apartments for rent, neighborhoods, markets and trends to help you figure out exactly what, where and when to buy. And you can get advice and opinions from local experts on Trulia Voices, your online real estate community.

LoopNet.com

They are the largest commercial real estate listing service online. Search commercial properties for sale or lease.

Savvy investors are turning to Winston Rowe & Associates, a no upfront fee national commercial finance specialist. You can contact Winston Rowe & Associates at 248-246-2243 or visit them online at http://www.winstonrowe.com

Their experienced and enthusiastic professional team has the expertise needed to make the loan process as easy as possible for their borrowers and without upfront fees.

Winston Rowe & Associates
31408 Harper Ave
Suite 147
Saint Clair Shores MI 48082
248-246-2243

Winston Rowe & Associates has no upfront free apartment building loans in the following states.

Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine,  Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee,   Texas, Utah, Vermont, Virginia,   Washington, Washington DC, West Virginia, Wisconsin, Wyoming

Commercial Real Estate Listings & Investing

Commercial Real Estate Listings & Investing

Winston Rowe & Associates, a no upfront fee commercial property financing firm has scoured the Internet to find the best sources for free commercial real estate listings and investment analysis.

If your looking for real estate properties for commercial investing or need background information on a asset?

Description of The Free Resource Links:

National Real Estate Investor.com

This is the leading authority on commercial real estate trends. The magazine’s readers represent a cross-section of disciplines — brokerage, construction, owner/development, finance/investment, property management, corporate real estate, and real estate services. No other publication provides as much independent research on a variety of topics that pertain to the office, industrial, retail, hotel and multifamily markets as National Real Estate Investor. We also produce webinars, white papers, research, custom publishing, reprints and custom conferences for our clients.

Cityfeet.com

This is the leading online commercial real estate network, connecting commercial real estate property owners and brokers to tenants, brokers and investors. Cityfeet offers commercial real estate products and services catering to the national and local needs of the commercial real estate industry. Cityfeet specializes in all commercial real estate property categories including office space, executive suites, commercial land, industrial property, retail space and businesses for sale. Cityfeet is the #1 source of free commercial real estate information for commercial real estate professionals and powers the commercial real estate area of many of the country’s most popular websites.

CIMLS.com

They provide real estate brokers and investors with a centralized online commercial multiple listing service (MLS). With over 250,000 registered members and $47 billion dollars worth of commercial property listings ranging from farms for sale to office buildings for lease CIMLS.com offers the largest free commercial real estate information service online today. Our partners attract a strong community of investors, commercial real estate brokers, appraisers, lenders and other real estate professionals. By working together, the CIMLS.com community offers you a full-service free commercial mls to buy, sell, or lease your investment properties. Join the commercial realty professionals at Century 21, CBRE, Coldwell Banker, Grubb & Ellis, Prudential and ReMax.

Commercial IQ

They are the most powerful commercial real estate search online, drawing commercial property listings from local brokerages and associations nationwide.

SHOWCASE.com

This search engine is for business professionals and investors looking for their next commercial property to lease or buy. Search from over one million properties across all asset classes, including: office space for lease, office space for sale, industrial property for lease, warehouses for sale, retail properties for lease, retail property for sale, multifamily apartments and land investments.

Zillow.com

They are one of the largest real estate Web sites in the U.S. and has become the premier destination for buyers, sellers, renters, homeowners, landlords, and real estate professionals.

Trulia.com

It’s an all-in-one real estate site that’s jam-packed with the most useful and timely information on homes for sale, apartments for rent, neighborhoods, markets and trends to help you figure out exactly what, where and when to buy. And you can get advice and opinions from local experts on Trulia Voices, your online real estate community.

LoopNet.com

They are the largest commercial real estate listing service online. Search commercial properties for sale or lease.