Real Estate 311: Recent Episodes
Steve
Andy Camp and I chat again, this time about site selection for businesses. Finding a property that will work depends on quite a few factors. Whether it's office, retail or warehouse, and the type of business utilizing the space, will affect what property works best for a company and which ones don't.
Shifting to new format where we will have guests for each episode to discussion a variety or real estate topics. In this discussion we talk with Andy Camp the President of Cutler Real Estate in Ohio. We start discussion generally about office space and the future of it, along with what our company's office needs are going forward. We then discuss housing inventory and thoughts on where prices and inventory are and where they will go in the future.
Let's have a short discussion as 2023 winds down and 2024 starts, on what you should be doing today. With interest rates up, inventory low and some uncertainty of the future, what should investors be doing? Watch the market, build up cash, be prepared, etc.
Curious what happened with this package? Well, we discussed it, reviewed the information, considered financing, appreciation and tenant info and made a decision. Listen to what one of my partners and I decided and why.
We are looking at a package of 8-9 single family homes as an investment. Currently they area all rented out, but at varying rates and lease terms. Will the numbers make sense?
We recently completed a 1031 Exchange on a property that I have with some partners and learned a few lessons. Make sure you have an idea of what you want to buy, and know that some of money could still be taxed, such as loan fees.
Have you heard of a 1031 Tax Deferred Exchange? Have you ever done one or know somebody that has? This is a quick overview of what a 1031 exchange is and how you can use it to defer your taxes and build your portfolio. Basics consist of: selling your property and reinventing the money, using an exchange company to handle the transaction so you can do it right, never have the sale proceeds get to your account, 45 days to designate replacement properties and 6 months to close on them.
Here are some early things to think about when getting ready to invest in real estate. Do you have down payment money (20-25%)? Do you know the type of property you want? Do you know the area/location that you want to me in? Simple things but definitely important to get you going.
It has been too long since the last podcast, but that will change going forward. We will be starting a weekly podcast release focusing on Real Estate for your business and Investment real estate, including buying, selling and leasing.
The interest rates and hot housing market make this a question you should ask yourself. I'm personally debating about refinancing a rental house and my personal residence. Let's discuss the numbers and thought process.
The current real estate market in Ohio shows that residential real estate is hot with a shortage of inventory. Foreclosure inventory very, very low. The multi-family market is strong with high demand. It will be interesting to see what happens to commercial real estate, retail and office, as time goes on. Some community centers may be stable but the larger spaces could take a hit.
This discussion on the current REO inventory, which has been low for sometime, and what is anticipated in the future regarding inventory increasing.
This is a short discussion about what is happening with Ohio Real Estate as of May 30, 2020 with Covid-19 pandemic going on. What is happening with residential, investment and commercial real estate at the current time.
General discussion about real estate. I talk about my background, education and experience. I’ve been fortunate to work as a full time commercial broker, corporate real estate manager and back to brokerage with a fun run handling REO (foreclosures). Discussed how REO agents get listings and scored. More discussion on what I have done investment and brokerage wise over this period and my plan to shift some moving forward. First episode here, there will be some learning curves.
In this podcast we talk about single tenant investment properties. How you should look at the value of the properties both with current condition/tenant and in the future if property needs to be re-tenanted. Discussed some experiences we had on single tenant buildings in smaller towns that ended up having the tenant moves out, and we had to deal with this. It is not always a loss to sell a property for less then what you paid for it, especially if you have had a tenant in the property paying down your loan. Quick talk about a 1031 tax deferred exchange. Second episode I did, getting a little more comfortable.
Discussing buying bank owned properties, HUD, Fannie, Freddie, short sales and auction. Some elaboration on each of the difference types of foreclosures and buying each. This information is both for agents and buyers themselves. This is my third episode, getting more comfortable and more things to come.