Commercial Property Rental and Sales

More and more people are making the decision to take their vacations into their own hands and explore the option of taking their holiday in a rented beach home or apartment. If you never vacationed this way before there are plenty of resources available to you in your search. One of the reasons so many people choose this type of accommodation is the convenience and privacy that hotels and motels simply can't offer. Many of these properties are surrounded by gracious resorts that can make your vacation planning simple. You wouldn't even necessarily have to leave the area to enjoy all of the activities in your itinerary.

For first time vacation rental buyers, it can seem rather complicated to find the exact rental property for you. Luckily there are all kinds of places to look and professionals you can call on. If you already know the location you wish to visit, how many people are going to be in your party, and the amount of money you wish to spend a rental agency can help you find the perfect match. For convenience sake, find an agency in the area you plan to go. They will more than likely have first hand knowledge of the quality of the places they offer. You can always contact a travel agency as well for information about how to rent a house for your vacation time.

Another place to begin your house vacation hunting process is in local newspapers or regional or national magazines. With this option you will more than likely be dealing with the owner personally. This is a great option if you want to visit a more local vacation spot. Many retirees and others have vacation properties relatively close to home and are more than happy to rent it out when they aren't using it. Of course this method also works when you plan to travel quite a distance to your dream vacation destination. Be sure to carefully look over your rental agreement before confirming without the help of a professional if you go this route.

Unless you live under a rock, the chances are good you have noticed how much information is up for grabs on the Internet. It doesn't take much effort to find all kinds of information about vacation rental homes with a quick search engine search. The more detailed you make your search phrase the more detailed information will pop up. It's kind of like one stop shopping. The websites you find will give you plenty of detail about the amenities of the place, contact information, and possibly a frequently asked questions page to help you make an informed decision.

As you can see, there are enough resources about beach vacation home rentals available to keep you busy for quite some time. Don't get so wrapped up in the details and many available spots that you forget to book somewhere. With all of these resources you and your party will be heading to paradise before you know it.

Commercial mortgage brokers should save their clients time, aggravation and of course money. The bottom line is that the brokers experience and expertise should be valuable for the borrower, who may have little knowledge of this often complex and daunting process of closing a commercial mortgage.

More specifically a few benefits of working with a commercial mortgage broker include:

1. Introducing you to loan programs that are not offered by your local bank.

Most commercial mortgage brokers will be able to introduce borrowers to loan programs that are not obvious. Lenders that offer untraditional loan programs (such as stated income loans, commercial 30 year fixed or second lien position loans, etc) do not have bank branches. Instead these lenders depend on mortgage brokers to produce their loans. So, brokers can give more options (often much better options), to the borrowers they serve.

2. Brokers can give you solid lender recommendations based on industry experience.

The real differences between lenders can be difficult to uncover. The obvious, such as which banks/lenders are quoting the lowest rates, offering the best terms, etc will be relatively easy to discover.

The more important issues, such as which lenders are re-trading their borrowers, actual closing loans and not just taking application fees or have highly "painful" underwriting process is where a broker really earns his fee. This knowledge is only earned by being involved day to day in the industry and by closing many commercial loans.

Most borrowers may close 2 or 4 commercial mortgages in their lifetime, while a good broker will close 2 to 4 loans a month. This experience is critical in helping the borrower achieve their goals.

3. Brokers are on the same side of the table as borrowers.

We get paid to close loans. Obvious - but when compared to a bank loan off icier, that is on a salary and has weekly meeting quota's, weekly application quota's, etc their agenda might not be simply to figure out the best route to get your loan closed . So the point is a bank loan officer may "lead you on" to take you application simply to protect his/her job - and waste your time.

4. Commercial brokers should save you a considerable amount of money, not cost you bank fee.

By creating a competitive environment, with relevant lenders to your situation, a good broker will get multiple funding sources to compete and produce the best pricing possible. If the broker has a solid reputation with lenders, they will take the loan packages more seriously and spend more time with it, believing that it is a legitimate transaction. Lenders also will have more pressure to not re-trade the deal in fear of losing future business that the broker could provide.

5. A solid broker should make the entire process more efficient.

In the same vain as number 2. A broker worth his salt should be able to identify solid options for the borrower based on their complex and unique set of circumstances. It is often a single small detail that will slow or kill a deal in process. A sharp broker should be able to spot these small details that could otherwise cost the borrower thousands of dollars, or waste months as the wrong lender wrestles with the file, which should not have been in their hands in the first place.

Not all brokers have the same skill sets or experience, but commercial mortgage brokers have earned a place in this business and can assist borrowers in securing a commercial mortgage.

While the other markets are crying...

The Residential Real Estate collapse... the Credit Crunch ... Wall Street swoon...

It's Still A Buyers Market in Commercial Property

With the relentless drumbeat of negative market news and the current funding credit crunch, you might be thinking now is NOT a good time to be buying commercial properties.

Not so ... here is the word on the street...

These market forces have actually made this one of the best times to continue to acquire commercial properties and build your portfolio.

Here are 4 Reasons why . . .We are very active in the market with over 1000 units of multifamily under contract and researching new properties daily. Here's what we are seeing that is quite new and a pretty large change from conditions 6 - 9 months ago.

1) Uptick in Commercial Foreclosures: For the last couple of years the Commercial Property market has seen nearly as much speculative buying as the Residential side.

In the niche of properties priced at less than $10M - the segment dominated by non-institutional buyers - many people have overpaid for their properties. And the banks went along with them.

Many owners now find them selves over-leveraged and we are seeing an increase in Commercial Property Foreclosures. This is a bargain hunters dream

2) A Return to Rational Prices: The current credit crunch has positive effects. Those same speculative buyers and easy financing are now way gone. With financing MUCH more difficult these days and the speculators out of the picture, asking prices have come down to reasonable levels we have not seen in nearly a year.

3) More Flexible Sellers: Sellers know the lenders are only funding solid deals that are well priced. We are seeing sellers be MUCH more flexible on negotiations both at contract and re-trade stages of the purchase.

And with the Speculative Buyers out of the market Sellers are seeing fewer offers as well. They are very hesitant to let your contract go if you are a serious buyer and much more flexible at the bargaining table.

4) Only Solid Profitable Deals Allowed: In fact, lender underwriting right now is so conservative that only solid, four star, profitable deals will get funded. Now is a great time to build your portfolio because, if you can get a property funded in this market, you are going to have a screaming profit machine when the market turns back up again.

Get 'er done... So as you see the head lines day-after-day touting the bad news in the financial market, remember this...

Right Now is a great time to continue to look for good values in the property markets and if they're underwritten now in a way that the banks will fund, you're going to have a great project down the road.