Realtor Referrals » commercial real estate

Major Commercial Real Estate Loans Rarely Close to the Average Commercial Loan Broker

admin — Tue, 11 May 2010 07:03:05 +0000

If you are a commercial real estate broker loan, and only work on large commercial mortgage loan, that of hunger. For the reasons set out below, large commercial mortgage loans rarely close to the corridors of commercial mortgage loan.

In order for a commercial bank or even a hard money commercial mortgage lender to be prepared to make a large commercial loan, the borrower must usually have a net worth at least as large as the loan amount. Therefore, if you’re trying to put a $ 20 million of commercial real estate loan, the borrower’s better to have a net worth of at least $ 20 million.

Why on earth that a borrower with a $ 20 million of equity apply to you – the typical commercial mortgage loan broker? He did not. He recognized quickly that you are not a great expert in commercial lending. Heck, the top real estate investors and developers probably know much more about commercial real estate finance than you. Therefore, the types of major trade agreements that are generally borrowers and developers with $ 3 million net worth trying to borrow $ 20 million. It’s a pipe dream! The loan was never close.

If a borrower has a $ 20 million net worth, you can be sure it has had dozens of bank loan officers by calling directly on it. Therefore, even if you do not get lucky and went to work for an investor or developer with a huge net worth, you can bet that is also in touch with his own bank and a half dozen other bankers who have called for direct to him. Therefore, even if you delivered a delightful period of a sheet of bona fide mega-bank, which will add its half-point rate to the mega-bank of a point to pay. Guess what? Direct lenders are also working on the agreement can always be that nearly matches the interest rate and provide a road within just one point because there is no agent involved in the operation.

But you probably will not succeed in delivering a piece of delicious period of some mega-bank or large business of life. Why? Because the top loan officers working in the mega-banks and large companies probably do not give him the life time of day. These guys are constantly in demand, and that rarely waste their time working with some beginners, intermediate level or even a mortgage broker business. These top of the food chain loan officers tend to have stable of about a dozen top bankers who provide commercial mortgage with 95% of its loans – and you are not one of them! These top commercial mortgage loan officers probably just blow it off the phone, even if its operation was perfect.

If you never work in big real estate loans? The only time it may make sense on that front would be if the borrower was a client. Perhaps it closed a $ 3 million commercial mortgage loan for him seven years ago, and then to $ 7 million three years ago. It is now trading up to a larger commercial property and needs $ 13 million deal. Clearly, in this case, you absolutely must have in the deal.

However, in the absence of a track record or some other personal relationship (perhaps the filthy rich investor is his stepfather), you should not take on these large commercial mortgage loans.

By contrast, stick to small business loans standing, the types of deals that actually close and feed his family by http://www.pro-bargainhunter.com.

Pro Bargain Hunter
http://www.articlesbase.com/mortgage-articles/major-commercial-real-estate-loans-rarely-close-to-the-average-commercial-loan-broker-676023.html

Should i get into residential real estate appraiser first, then commercial?

admin — Fri, 09 Apr 2010 16:03:11 +0000

So far i will be taking a transfer course, diploma of urban land economics at college, then will be going to a appraisal institute of Canada for residential properties. After i get the job, how can i get into commercial real estate appraisal?

Hi, good luck! Check with your local/national appraisal certification association(s). Some states (US) require so many residential appraisals to be accomplished before applying for a commercial license. Probably the best way is to call a commercial appraiser in your area, it would be a good idea for you to buddy up with one now, give them a few free hours of work in exchange for experience and get to know them and the area you wish to work in. This is a professional bunch and they will help new people in the industry. Again, good luck!

Can Yahoo Real Estate be expanded to include commercial real estate?

admin — Thu, 08 Apr 2010 18:30:19 +0000

My business is only in commercial real estate; not residential real estate. It would be nice if Yahoo could expand its real estate site to include features and answers for commercial real estate brokers and/or investors.

I was the designated realtor for yahoo real estate in ventura county for a long time. It cannot be expanded that way. It is set up for residential only, and they cherry pick the listings that go in. The idea is to connect the party with a Realtor who can truly find out what the client’s need are and then as a specialist in the area, get the property needs met. If you want to see commercial listings, go to www.loopnet.com. I am a paid member there, so I can see more than the unpaid members, but by and large, you can see every commercial property for sale or least there.

Commercial real estate: Is it better to deal with listing realtor directly?

admin — Thu, 08 Apr 2010 18:30:08 +0000

I’ve an acquaintance who works as a Realtor. Recently, I’m looking for a commercial real estate to lease, and I found a space advertised by another realtor. Is it better for me to just deal with the listing realtor directly, or I could get my acquaintance to handle the deal for me?

WOW, am I glad i read this;
under NO NO NO circumstances should you deal with the
listing realtor. By law, the Listing realtor must be
"fair, cordial and reasonable" with you and no more. That does
not get you what you want.

if your friend has skills in Commercial, absolutely have your
friend help you…..or have your friend find a commercial buyer’s agent.
{i am not sure outside of our office if such a thing exists.]

but you need your own agent to get a fair-good deal.

ask the listing agent what fiduciary means.

Do you have to become a residential real estate appraiser before becoming a commercial appraiser?

admin — Wed, 07 Apr 2010 21:08:12 +0000

I know that you have to have a Bachelors degree before being able to take the test to become a commercial real estate appraiser but is it a requirement to get a residential license first?
P.S. I already have a Bachelors degree in Real Estate but no experience as an appraiser.
I’m in Georgia

In the state of Fl you have to work under a certified appraiser as a appraiser in training without a degree. The license to do commerical app. is a general appraiser vs. general real estate appraiser. With a general license you can do both types of reports. Commerical reports are narrative reports. The company that you would work for would typically have a filler report that has most of the broad information. I would disagree with becoming an Real Estate agent before moving to appraising. Appraising and sales are two different hats totally. That coming from someone that has done both (sales and appraising)

Is it hard to become a commercial real estate broker?

admin — Wed, 07 Apr 2010 21:07:56 +0000

I am a finance major and I was interested in becoming a commercial real estate broker.. Is this a hard job to obtain?.. Is it hard to succede at?… what is the salary range for most brokers?

Hard to become a broker…not really.
Hard to succeed…depends on you.
Make no mistake, this is hard work. Networking, selling, cold calling, canvasing, etc., be prepared to work and not necessarily make any money for the first few months. I didn’t get a check for the first 8 months I was in the business.

If you work hard and have a good mentor, you can avoid a lot of mistakes and save some time. Find a firm that is willing to invest some time to train you and make sure you are part of a selling team. It will make things a lot easier.

The income can be enormous…I know more than a handful of guys in my market (Long Island) who make well over a million dollars per year. Lots of brokers here make between $100,000 – $300,000. But remember, it’s all commission (you eat what you kill)

Good luck!

Ralph Benzakein
whitman-realty.com

What percentage of commercial real estate is "For Sale By Owner"?

admin — Tue, 06 Apr 2010 21:23:41 +0000

They say that 20% of the homes sold in the United States are "For Sale By Owner". Do you know what percentage of commercial real estate is "For Sale By Owner"? I would think it would be a lower percentage, but I just don’t know what that percentage is.

The problem with getting statistics for commercial real estate transactions is that unlike residential real estate, there is no mls (multiple listing service) that gathers data. Therefore, figuring out an accurate percentage would be difficult at best. If anyone does provide you with a figure, make sure they quote their source and then check it out thoroughly.

How do you flip Commercial Real Estate Contracts?

admin — Tue, 06 Apr 2010 21:23:35 +0000

Not wholesale but basically get a contract, make it assignable, find a buyer, tell him/her the price of the property and the price of your assignment fee, assign the contract, get paid. Is it all as easy as that? What type of title companies would I got through, do regular title companies do residential and commercial? If you can give me info. on this assigning commercial real estate contracts, it would be very appreciated.

Go to real estate school…then you’ll find out very quickly why it doesn’t work.

You shouldn’t be getting involved in ANY TYPE of business transaction when you don’t know how the game works.

What kind of education or training do you need to work in the commercial real estate market as an agent?

admin — Mon, 05 Apr 2010 18:14:05 +0000

I have always been interested in commercial real estate. Mainly just the part of helping business owners find the right property and help them get into it by working with the owners etc. What type of education or background is best in order to enter into this market? I would ideally someday like to own my own commercial real estate leasing company

Education – obtain your real estate license
Training – work for a commercial real estate brokerage firm

what is commercial real estate? How do people in the business get paid?Where can I find info about the career?

admin — Mon, 05 Apr 2010 18:13:57 +0000

Im trying to get information about the commercial real estate industry.

commercial real estate involves the brokering of the sale and leasing of commercial properties – like businesses and office buildings.

Most commercial Realtors are paid on comission, some that do commercial property management (say, for a shopping center) make a small salary, plus comissions.

Your best bet is to get into residential real estate before ever attempting commercial. Commercial Realtors are what most refer to as a "good old boys club" and are usually resistant to new agents. There is so much more liability involved for a Realtor dealing in commercial properties that you really need a good handle on real estate laws, etc before you begin your foray into commercial.

Good luck!