Things To Do Before Selling Your Commercial Property

by Administrator 18. September 2018 08:34

Commercial property consists of office buildings, shopping centers, industrial complexes, multi-family apartments with at least 5 units, hotels/motels, RV and mobile home parks, land, storage, malls, retail space and farms/ranches. Buyers of commercial property look at it as a form of investment that will generate income flow.
 
If you are a seller planning to sell your commercial property any time soon, following are some important things to do before doing so:

  • Set Goals: By setting a clear goal for selling the property, you are in a better position to determine a transaction that will meet your needs. Some points to consider are, what you want to accomplish from sale, whether you want lump sum money on closing or monthly income, the amount of cash you really need and so on.
  • Get In Touch With Qualified Buyers: Look into the database of qualified buyers and contact them. Focus on marketing your building on a larger scale.
  • Interview Buyers: Interview potential buyers to assess their background, resources, their interest in the building and how they plan to manage it.
  • Educate Buyers: Educate your buyers that there is more to a building than its location. Bring to their notice the importance of terms and expandability. This is so because more aware your buyers are, higher are your chances of selling the property successfully.
  • Determine The Value Of Building: Buyers look at a building with a higher value as a potential source of high income. Determine the value of your building by dividing the net operating income by capitalization rate of the area.
  • Create A Professional Marketing Packet: This helps highlight the best features of your property and influence the buyers positively.
  • Meet The Buyer In-Person: If a potential buyer likes your marketing packet, arrange for a meeting with the buyer and involve a real estate agent too. Work towards finalizing the deal with the right choice of words.
  • Get A Confidentiality Agreement Signed: If you want protection from litigation, get a confidentiality agreement signed by the buyer.
  • Negotiate With Bankers: Presenting the professional marketing package to bankers improves the chances of getting the deal financed.
  • Waiver Off Contingencies: Getting a buyer to sign a waiver of contingencies after the completion of due diligence period ensures that he does not walk away from the deal without forfeiting the earnest money.
  • An Escrow Agent: Availing the services of an escrow agent ensures that the closing is smooth, organized and pleasant.

John Reider Properties offers several services. For more information, visit 455 E. Central Texas Expwy,Suite 101, Harker Heights, TX 76548 or call at (254) 699 – 8300.

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Ways To Maximize Returns From Your Property

by Administrator 25. August 2018 08:15

Anyone who invests in real estate property does so with the aim of earning revenues. However, it is dependent on factors like timely payment of rent made by tenant, occupancy and amount of maintenance required from time to time. In spite of these factors, one can use various real estate management tools to maximize the return on real estate property.

Here is a list of ways in which the return on real estate property can be maximized:

  • Tenant Screening: If you intend to utilize your property for rental purposes, then screening potential tenants should be prioritized for maximizing profits. Essentials of screening are analyzing the bill paying habits of the tenant, income verification, bank statements, criminal records and previous landlord reviews.
  • Honest Evaluation: A key step for maximizing returns on property is to study and analyze what you want, the resources you have as well as your strengths and weaknesses. When these points are clear you can decide the audience you would like to target and then move in that direction. Clarity of action always begets profits.
  • Combat Changes In The Market: Keep up with the current market conditions by regularly analyzing them. Study trends in the local real estate market to know the prospects of growth and prices of similar properties. Knowledge about the trends in your local market will help you in figuring the right time to sell your property for maximum gains.
  • Get The Basic Right: If the first step is right, the rest will follow suit. In case of property, the basic stages are choosing the right location and property. In case you are to rent out the property then make sure that it is well maintained. You can hire a property management firm for this purpose. Also a property that is close to market, hospitals, school etc. will attract a large pool of prospective tenants.
  • Hire A Real Estate Professional: Take the guidance of a real estate professional for choosing properties in prime areas to ensure a positive cash flow.

John Reider Properties is a full service real estate firm that provides a myriad of services. For more information, visit 455 E. Central Texas Expwy, Suite 101, Harker Heights, TX 76548 or call at (254) 699 – 8300.

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Steps Involved In Home Selling Process

by Administrator 23. August 2018 09:03

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Types Of Commercial Properties

by Administrator 16. August 2018 13:12

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Staging Tips For Your Rental Home

by Administrator 30. July 2018 05:20

Staging rental property is a great strategy to stand out from competition and attract tenants. It helps an owner showcase the best parts of his property. People are more likely to consider staged rental property as they are attractive and relatable.

Here are some pro-approved staging tips for home owners considering renting out their property to serious tenants:

  • Use Appealing Furniture And Accessories: The furniture and accessories used to stage the house should be appealing to prospective rental market. If your target is a young couple, dress up the home accordingly. Use bright colors. Create a romantic touch with accessories like flower vases, lighting, candles etc. Tailor your furnishings as per age and lifestyle needs of potential tenants. Keep in mind the season while decorating the house.
  • Spark The Tenants’ Imagination: Use staging as a tool for igniting your clients’ imagination. Help them visualize themselves staying there by setting up rooms as per their requirements. A booklover should be able to visualize himself reading a book in a cozy spot. A homemaker is looking for a modern kitchen with the latest appliances and a child is looking for space to play. Tap into the innermost desires of your clients by staging skillfully.
  • Highlight The Strengths Of Your Property: Stage the house in such a way that the best parts of your house stand out. They should instantly catch the eye of the client. Common focal points in houses are bookshelves, fireplaces, big windows etc. Use staging as an opportunity of showing clients what the house is worth in terms of size, capacity and comfort. While doing this however, be careful not to overdo the accessories as you don’t want the clients to drift away from considering the property.
  • De-Clutter: Clutter is a big no-no when it comes to staging property. Keep it simple and stylish. Take care not to do anything that will overwhelm the observers mind. Get rid of all the clutter in the house. It should look clean and minimalistic. Clear drawers and cupboards. Keep only essentials of non-personal nature.
  • No Odors And Smells: An important aspect of staging is to get rid of nasty smells like musty, damp smells, smell of cigar etc. Conceal all smells either by painting the house, cleaning carpets and rugs, opening all doors and windows for airing or lighting up some scented candles.
  • Engage A Professional: The safest bet when staging property is to get it done by an expert. A professional stager knows exactly what will catch the eye of a potential tenant. Just give him your budget and he will do it for you. Staging experts can also be engaged for showcasing the property.

John Reider Properties offers several services. For more information, visit 455 E. Central Texas Expwy, Suite 101, Harker Heights, TX 76548 or call at (254) 699 – 8300.

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Real Estate Photography Mistakes To Avoid

by Administrator 25. July 2018 07:13

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Ways To Decorate Your Porch In These Summers

by Administrator 20. July 2018 05:34

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Common Repair & Replacement Tasks To Do

by Administrator 29. June 2018 12:24

Each home requires maintenance and repair at regular intervals. It is important to take due care to keep your rental property in good condition for years to come. The smartest move is to hire a professional property manager for this purpose. This will save your time and effort.

Property managers help manage day-to-day operations of a rental property. Their services, fee and terms of the contract depend on the type of property they have been appointed to manage. A reliable property manager takes up the responsibility of an efficient marketer as well.
 
Here is a list of some repair tasks that you would expect your property manager to take up.

  • Repair and replace drywall and carpeting. Also, it is important to keep a check on small and large cracks in the walls. The job requires skill and knowledge.  which might require the application of fresh coats of
  • Treat squeaky floors. The sounds could be a result of faulty ductwork, piping or wood rubbing against a nail.
  • Maintenance and replacement services of the roof and gutters. This includes unclogging the gutters from time to time with the help of an expert team and also repair or replace damaged roofs. Replace old and damaged shingles with new ones. It also includes getting rid of debris, fungus and mold overgrowth from the roof and gutters.
  • Repair and maintenance of gas lines and outlets, which include replacement of broken parts.
  • Updating the electrical wiring/outlets as per the local rental property laws.
  • Repair and replacement of HVAC systems and water heaters to ensure they work for a long period of time.
  • Timely repair and maintenance of clogged pipes, toilets, other sewer issues, leaky faucets etc. This helps in cutting down additional expenses incurred to engage a plumber exclusively for the job.
  • Check for water leakage in the ceiling and windows. This helps in preventing any damage to wood, drywall and other surfaces of the property.
  • Replacing light switches and outlets that have been over-used or have become faulty over time with new parts. Matching the wires and replacing the covers is also a part of the services.
  • Removing old caulk around bathtubs and sinks to prevent them from wearing off, cracking and peeling with the passage of time.
  • Getting rid of bugs and rodents by hiring a pest specialist and sealing holes in the property which give access to rodents inside the house.
  • Repairing the garbage disposal if broken, stuck or burnt.


John Reider Properties offers several real estate services. For more information, visit 455 E. Central Texas Expwy, Suite 101, Harker Heights, TX 76548 or call at (254) 699 – 8300.

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Preparing Your Home For Inspection

by Administrator 27. June 2018 06:54

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How To Boost Your Home's Curb Appeal

by Administrator 13. June 2018 13:46

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