Author: Randybacon

In today’s world of sky high cost of living in cities like New York, San Francisco and Los Angeles there are still options that are affordable for working class families. If you are struggling to have money left over after paying for bills, then you may want to move to one of these cities.

19 major US cities where you can actually save money after rent, taxes, and other day-to-day expenses.

Tulsa Oklahoma is No. 3 on that list:

1. Tulsa, Oklahoma

Average biweekly pre-tax income: $2,110.23

Income tax: $152.97

Average biweekly expenses: $1,250.56

Average left over money: $706.70

Clever Real Estate calculated how much money the average American in several major metro areas spends on different necessities after receiving their biweekly paycheck.

The real estate referral site subtracted living expenses and income tax from the city’s average pre-tax income using Bureau of Economic Analysis spending and income data and IRS state tax data to calculate the amount of money leftover from a biweekly paycheck.

After paying housing and utility bills, buying food, and covering other living expenses, the typical American only has about $136.39 left over every two weeks.

Some cities have higher rent or more expensive prices for goods and services, which makes it more difficult to have money left over after these purchases and bills. Clever Real Estate noted in their spending analysis that residents in cities with expensive products aren’t necessarily buying more things, but instead have to spend more money on these items. However, the company also wrote that people in expensive places often look for ways to save some extra money, such as living with a roommate.

Although 18 cities are below the national average, residents living in 57 major cities have more money from their paychecks after income tax and bills than the typical American. Of the 57 cities, 19 of them have over $400 left over from their biweekly paycheck.

Average workers in San Jose, California, and Bridgeport, Connecticut have over $1,000 left over to freely use on other purchases or to reserve for their savings. However, both these cities fall in the top three cities that spend the most of their biweekly paycheck on housing and utilities. It may help that employees in San Jose and Bridgeport tend to make a larger income than the other major cities on Clever Real Estate’s list.

To read entire article referenced here in Business Insider, to discuss financing a commercial real estate property contact us at Liberty Realty Capital Group

While many commercial real estate owners are large corporations or REITs. The largest number of real estate owners are individuals or small businesses that own the property that their business occupies or own one or more income generating properties.

A recent article in Officespace.com povides items to consider when seeking a commercial loan.

Commercial mortgage loans are debt secured by the underlying real estate asset. Smaller loans usually require a borrower guarantee and larger loans are often based on a non-recourse basis, that is only secured by the real estate and its income stream.

The primary purpose of a commercial mortgage is to help small business owners add “property owner” to their titles. This accomplishment is worthwhile, as it negates the need for you to pay rent to someone else. As a wise person once said, “Paying rent is like throwing your dollars into a bottomless void.”

When you own a property, your payments build in a way that gives you positive options in the future. You’ll have more control of the property, build your retirement portfolio, and create the opportunity to collect rent from others.

A commercial mortgage can be used for many kinds of property, including warehouses, offices, apartment complexes, stores, and restaurants. And the scope extends beyond just purchasing a property. You can also use this type of financing for new construction, renovating an outdated structure, removing yourself from a lease, or refinancing for a better repayment term.

Regardless of the details, these projects typically require financing that can help you convert your equity into cash.

“Commercial real estate isn’t cheap,” say the entrepreneurial experts from Small Biz Rising. “If you’re a small business owner who’s considering buying or further developing commercial real estate—whether that’s an office building, a shopping center, a hotel, or another business-related property—odds are you’ll need to secure financing from an outside lender. In most scenarios, that usually means applying for a commercial mortgage loan.”

In the financing world, there’s a spectrum of difficulty when it comes to qualifying for and obtaining various loan products. The good news is that commercial mortgages fall on the easier side of things. While SBA loans require piles of paperwork and have strict requirements, a commercial mortgage is a much smoother ride.

One of the main reasons for this ease is that you will secure the loan by using the property as collateral. As long as the property’s value appraises for a sufficient amount, you’ll bypass some of the hurdles associated with typical loans.

However, a commercial mortgage isn’t always a sure thing. Small business loans are always competitive, with lenders looking at a variety of factors before making approval decisions. What’s important is that you provide all the relevant documents, including property blueprints, purchase contracts, scope of work analysis, project budget, and a property market analysis.

Beyond the nuts and bolts of the real estate project, your finances will play a role in the approval decision. So don’t put too much emphasis on the property and lose track of the business side of the equation.

“You’ll need to gather an assortment of documents, including current business and personal tax returns, business-related financial records, personal and business credit score information, bank statements for personal and business accounts, asset and liability statements, profiles of business partners and directors, business plans, and possibly more, depending on the lender,” says Small Biz Rising.

While we’re on the topic of what you need for a commercial mortgage, here are 10 more considerations. Some are major details and others are fairly minor, but they combine to make your application more desirable to a lender.

These loans are big.
Real estate isn’t cheap, so your commercial mortgage will pack a punch. At their smallest, you’ll find amounts around $250,000. But the maximum can go up to $5,000,000 to fund larger projects.

Interest rates are favorable.
With your property serving as collateral to secure the loan, lenders will often feel comfortable offering you interest rates as low as 4.25%.

Repayment terms are also favorable.
Real estate projects are rarely quick. Luckily, neither are the repayment terms. Don’t be surprised to find terms extending up to 25 years.

Your plan can really open doors.
Business plans are always important when seeking financing, but they take on a whole new level of importance with commercial mortgages. Take the time to make sure yours clearly demonstrates your expertise and investment in the project.

You can read entire article here in Officespace.com, or contact Liberty to discuss your commercial financing project

America’s Fortune 500 companies as well as mid size and small business are all trying to control their energy cost to make their businesses more efficient and improve the bottom line. Some of these businesses are also taking a proactive step to implement green energy strategies. This could be anything from switching out to energy efficient lighting for small to large companies that invest in solar or wind energy resources.

Today, the Renewable Energy Buyers Alliance (REBA), announced the release of its Deal Tracker highlighting 2019’s Top 10 Large Energy Buyers, topped by Facebook with the procurement of 1.546 gigawatts (GW). The REBA Deal Tracker showcases total procurement of 9.33 GW of renewable energy in the US and a shift in the energy landscape driven by the demand for accessible clean energy options.

“Well over half of all energy consumption comes from the commercial and industrial (C&I) sector, so it is increasingly important that large energy buyers are identifying opportunities to reduce emissions,” said Miranda Ballentine, CEO, REBA. “The leaders on our list understand that as part of their environmental, social and governance (ESG) planning, integrating renewable energy is one of the most significant ways to work toward a zero-carbon future while contributing to local economies.”

Sustainability is of increasing importance across the C&I sector as proven by the growth in reporting to CDP, which has also accelerated the number of companies establishing ambitious carbon reduction targets with associated renewable energy goals. Read entire article here in Environmental Leader.

While many advocates point to real estate giants such as Walmart and Mcdonalds for their energy usage, Facebook is currently the largest energy user in the United States.

If your looking to finance a data center or other commercial property contact Liberty to discuss your financing options. Contact us here.

Bernie Sanders Staffer: ‘After We Abolish Landlords, We Don’t Have to Kill Them’

Breitbart.com

While I’ve often thought the progressive liberal wing of the democratic party was anti business and anti investment in most capitalist endeavors, it is now reaching a point where the extremists are now populating the campaigns of Bernie Sanders, one of the leading candidates for the democratic nomination for president.

A Project Veritas video published Tuesday purportedly shows a Sen. Bernie Sanders (I-VT) campaign staffer musing about a ban on private property ownership in the United States as an alternative to mass killings.

A man identified as Mason Baird, a Sanders field organizer in South Carolina, is seen telling a Project Veritas journalist that he believes a “militant labor movement,” working in tandem with a Sanders administration, should “strip power” away from capitalists.

“We would need a federal government and labor union movement that is working together to strip power away from capitalists and preferably directing violence toward property,” the man says. “At the end of the day, this kind of stuff will come out through practice, through the work and it’s hard for me to talk about it in the moment we live in, ’cause I think China today is not what Mao envisioned, right — it was through the practice of Chinese people doing the work to create the China today.

“So, it never – we’re never going – I think a lot of the stuff – a lot of these answers are going to come through practice – we’re going to try things – things aren’t going to work – we’re going to move on to the next thing,” he continues. “And we’re going to try to be as conscious and intentional about those things, but when you get into a certain level of detail, and depth, it’s like, that’s kind of my ‘cop-out’,  it comes through the work, you know. The answers come through the work.” Read entire article here in Breitbart.com.

A message board in the construction trailer complex at the Saracen Casino Resort job site proclaims the countdown: 159 days till substantial completion.

To get the first phase of the $350 million Pine Bluff development open as soon as possible, crews are racing the clock on a work schedule that is essentially 24/7.

By contract, June 26 is the opening date circled to let the card dealing, dice tumbling and roulette wheel spinning begin at Saracen. But John Berrey, chairman of the Quapaw Nation, is betting the casino will be ready for play even sooner.

“My goal is sometime in May to have a soft opening,” Berrey said.

In addition to 2,000 slot machines, the casino will have room to accommodate 50 table games. But Berrey expects to start with a mix of 30 or so blackjack, poker, craps and roulette games.

The 80,000-SF casino will be ringed by seven restaurants, including versions of the Legends sports bar and Red Oak Steakhouse at the tribe’s Downstream Casino Resort in Oklahoma.

Also on the Saracen dining menu will be a buffet, three fast-casual restaurants and a coffee shop serving up pastries and gelato. The tribe is developing local options for produce, catfish and more. (For casino food strategies, see Casinos Use Dining to Build Loyalty, Brand.)

The Quapaws’ fun-atmosphere-plus-good-food recipe for success will serve up bacon-wrapped bison tenderloin at the Red Oak and signature blends of roasted coffee.

Completion of the casino will be celebrated with the first of two grand openings. A second will follow next year when the 300-room, 13-story hotel tower and adjoining events center are completed.

Read entire article here in Arkansas Business Journal.

Find out more about commercial real estate financing in Arkansas here or contact Liberty to discuss financing your commercial real estate project by contacting Liberty here.

How often as a commercial real estate professional do you read a brochure or fact sheet on a property and assume that all of the data that is provided is accurate and verified? 

While we would like to assume that everyone in the industry is as thorough and professional as we are, you know that it can be very easy for a detail to get overlooked.

Many times this can be a matter of subjective opinion or just taste.  One person’s “spacious skyline view” can be another person’s average size space looking out over a parking lot and the building next door.

Other characteristics or conditions are much more important, zoning, flood zones, building setbacks, etc.  One of these items that is very important but not always verified is ceiling height of buildings like warehouses.

We all know that industrial and warehouse buildings are sold and leased based on their ceiling height as well as square footage.  This is obviously because warehouses store things vertically on shelving creating not only square footage but also cubic footage.

In one case in Texas a moving and storage company had contracted to purchase a warehouse facility that supposedly had ceiling heights that were adequate to stack their eight foot high storage containers 3 levels high.  The building had been inspected by several parties during the closing process, however no one took a tape measure and measured to actual clear ceiling height. 

Upon closing of the sale the moving company began emptying their old warehouse and moving into their new locations.  After moving a few truckloads of containers to the warehouse they began stacking them as they are normally stored.  Only at that time did they realize that the ceiling height was to short to be able to stack their storage units 3 levels high.  This was essentially causing the company to loose 1/3^rd of their total storage space.

When someone took a forklift and a tape measure they confirmed that the building ceiling height was about 2 feet shorter than what they were told it was in the sales brochure which had been prepared and provided by a national real estate company.  In this case it required damages to be paid including surrender of all real estate fees earned by brokers representing the transaction. 

The obvious lesson here as Ronald Reagan once said “Trust but verify” is a good policy when it comes to the objective details in a real estate presentation. 

When it comes to your commercial real estate financing contact Liberty Realty Capital Group to discuss your project and how we can help with your funding needs.