No one should ever tell you that being an executor or personal representative won’t be stressfull because the decisions they will have to make are important. As experienced Real Estate Probate Professionals, we will make sure that you are always well-informed about these real estate related decisions. We will also help you with some of the difficult conversations you may have to have with family members and other heirs. Please contact us if you haven’t hired the services of a knowledgeable probate attorney, we can help you choose one that is very competent.
We will help you every step of the way and do everything possible to steer you clear of the mine fields. Of course, you’ll still have to make some important choices, but having an experienced probate advisor by your side will make you feel significantly less alone.
Should you dispose of the property as fast as possible?
This is where we shine. First, we will help you determine specifically what the most critical objectives are in regards to the real estate that’s involved in the probate.
If you determine a fast sale is the best option, we can provide immediate cash buyers from our list of qualified investors. This is often a vital option in order to allow a surviving spouse to move to a more suitable location, handle medical or other bills or quickly get asset funds into the hands of the heirs. On almost any property our investors can often make offers within 24 hours and can close really fast. Sometimes funds can even be advanced prior to closing. Of course, timelines are frequently subject to the courts and filing timelines which are beyond our control, but our efforts minimize these delays whenever possible.
What if you need to maximize the selling price to provide the greatest cash benefit to the heirs or stakeholders?
When maximum revenue is most important, we’ll make certain the property is listed properly and marketed aggressively and intelligently to bring maximum exposure. You’ll know exactly what the property is worth and if you are willing to wait for the right buyer and make necessary repairs that might add more to the final selling price we will assist in getting the right people to do the job correctly. Keep in mind that all too often, misinformed sellers spend way too much on repairs that wind up not even covering their cost in the final sale price. This is where our experience, contractor connections and savvy marketing skills come into play.
GET THE BEST LOCAL CERTIFIED PROBATE EXPERT REALTOR IN NJ
Commercial real estate can be a lucrative industry for those with the proper experience and knowledge. Some of the world’s wealthiest people have made their fortunes in this exciting field. This article provides some of the most important advice and tips for anyone interested in the commercial real estate field.
If you’re trying to flip houses for a living, you need to make sure you advertise yourself. Have a website, get business cards, put ads in the newspapers for the homes, etc. If you want to make money, you need to treat this as a business, or else you can’t expect business-grade results.
One important tip to remember when investing in commercial real estate is that you are going to not only need a lot more money for a down payment, but you will have to pay much more for inspections and appraisals than you would for residential real estate. You may not end up purchasing the property you are investigating either, so you really need to have funds available for several inspections.
Whether you want to get into real estate or you’ve been into it for a while, visit some websites that will help you find out how to invest in commercial real estate. It is always best to work with as much information as possible, so take the time to absorb everything you can when working with commercial real estate.
If you are looking to purchase and then eventually lease a commercial property, try to find a building that has a lot of space. Trying to lease out dwellings that are too small is going to be hard– people want to be in a spacious area, not a claustrophobic one.
The location of your commercial property is key to its value and its potential suitability for what you have in mind. Find out more about the neighborhood. Compare the growth of the property’s neighborhood to similar neighborhoods around the country. You want to know that the community will still be decent and growing a decade from now.
If you are relatively inexperienced with commercial real estate investments, don’t forget that as with other investment types, there is a learning curve that will allow you to select and pursue properties with more confidence as you become increasingly familiar with the process. Don’t rush yourself. Be sure to take the time to absorb all of the details and processes involved.
When making the selection of brokers to work with, be sure to find out how much experience they have on the commercial market. It is important that their experience fall in line with your buying and/or selling goals, so make sure to ask what their specialty is. With that broker, you also want to enter into exclusive agreements.
Make sure that you know and understand what “NOI” (Net Operating Income) is. Having positive numbers is the only way to ensure success.
When first starting out make sure you focus on just one type of property. You don’t want to overwhelm yourself with too much at first. Get to know that type of property and how to own it. Once you feel comfortable with it you can start looking into other types of properties.
On average, it will take about a week, maybe longer for review of the legal documents for the sale. Be sure to keep this in mind when you are planning any kind of projects for that property. It will take much longer for a commercial sale to be completed than what it would a residential real estate sale.
Take tours of the properties that are potential purchases. Even better, have someone who knows commercial real estate tour the properties with you. After touring, feel free to begin negotiations or even make your preliminary proposal. Evaluate and reevaluate the counteroffers before making any kind of decision one way or another.
It is crucial for anyone who invests in commercial real estate to have all of their information and documentation up to date and checked for accuracy. Your business plan must be solid if you expect lenders to take a risk in any of your ventures. This includes proper facts, estimates, forecasts, and figures.
It is good practice to inform your commercial real estate buyers of every single thing about the property that they are interested in. There should be no fine print in the policy that could cost them or damages to the property that be kept secret. The best way to build a customer base is to be honest!
Do some research about the city or neighborhood where you are considering buying something. Look for a promising and dynamic area where a firm would want to have their offices located, or for a safe area where people are going to want to rent your apartments. Look for something where you would live or work yourself.
If you plan on investing in commercial real estate, you should aim to look over the financial status of the tenants. If a tenant’s financial status is bad, then you probably should not invest in that real estate. You should aim to look over the financial statements, but if you can not find any, check out their websites or find companies that collect information about small and mid-sized businesses.
Be an intuitive business owner, don’t let commercial real estate companies dupe you! In order to be a successful business, it starts at the foundation …literally! Make sure you are getting what you are actually looking for when dealing with your commercial real estate opportunities. You don’t want to end up buying something that isn’t worth it.
Do not try handling more than one investment at a time. Once you have completed a transaction and your buildings are ready and rented, you can start thinking about the next one. Make sure you spend enough time on each transaction. If not, you will miss some details or make mistakes.
Like in any industry, the key to success in commercial real estate is identifying the best advice and information available and using it to your advantage. By following the recommendations in this article, you are on your way to an exciting, profitable career in the commercial real estate industry.