15 secrets to choosing a commercial real estate broker: how to choose the right commercial real...
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There are times in the life of our business when it makes sense to rent, and simply be someone else’s “tenant.” In America, we can rent just about anything, including apartments, houses, and commercial offices or buildings. Renting does indeed serve a purpose. However, most savvy business owners eventually get tired of contributing to their landlord’s bottom line. Their goal becomes owning their own commercial property. You are probably reading this report because you are a business owner and you are doing some preliminary research about purchasing your own commercial property. This report is just for you. It is chock-full of great information to give you an “insider’s” perspective to “Discover The 15 Secrets Of How To Choose The Right Commercial Real Estate Broker For Your Project.” To read the rest of the report visit http://www.504Experts.com/welcomeTRANSCRIPT
www.TheSmartChoiceLoan.com | www.504Blog.com | 1-866-MCC-4504
REVEALED: The 15 Secrets to Choosing a Commercial Real Estate Broker!©
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Drafted January 2008
Executive Summary:
1 Understand the Differences Between Purchasing Commercial Property and Residential Property
2 Choose A Broker Who Can Predict The Future
3 Get Clear About What You Want
4 Types of Real Estate Representatives
5 Get Referrals
6 Find an Expert, Not a Generalist
7 Choose a Broker Who Keeps Up With the Trends (Nationally, Not Just Locally)
8 Choose a Broker Who is Well Connected
9 Ask Questions
10 Choose a Broker Who is a Team Player
11 Choose a Broker Who Is Tech-Savvy
12 Research the Firm
13 Develop a Real Estate Broker Checklist
14 How Much Are The Fees?
15 Reading Between the Lines
www.TheSmartChoiceLoan.com | www.504Blog.com | 1-866-MCC-4504
REVEALED: The 15 Secrets to Choosing a Commercial Real Estate Broker!©
3
There are times in the life of our business when it makes sense to rent, and simply be someone else’s “tenant.” In America, we can rent just about anything, including apartments, houses, and commercial offices or buildings. Renting does indeed serve a purpose.
However, most savvy business owners eventually get tired of contributing to their landlord’s bottom line. Their goal becomes owning their own commercial property. You are probably reading this report because you are a business owner and you are doing some preliminary research about purchasing your own commercial property.
This report is just for you. It is chock-full of great information to give you an “insider’s” perspective to “Discover The 15 Secrets Of How To Choose The Right Commercial Real Estate Broker For Your Project.”
First, let’s talk about why you should own your own commercial property in the first place:
Freedom
There is nothing quite like the freedom that comes from owning commercial property. For one, you do not have to run every single idea or suggestion past a grumpy landlord, or wait until they can find time to get back with you. When you rent, you have to put up with someone else’s “rules” without the convenience of making changes or tailoring your business space to suit your personal needs, ideas, and design.
Rent Income
Once you own your building, you can charge rent. It is far more beneficial to be the landlord than the tenant. Imagine having enough space in your building to operate a successful business and have the additional opportunity and revenue stream of a monthly lease arrangement. When you charge rent, you can have your financial cake and eat it, too.
Instead of being a tenant for someone else, you have the option to charge rent as an entrepreneur and offset a portion of your own mortgage payment. It is a wise businessperson’s way of making money -- allowing your assets to work for you instead of against you.
Tax Benefits
There are excellent tax benefits to owning your own commercial property. Typically, you can deduct a portion of the value of the building, plus any improvements you make to it. If your building is financed you are also eligible for interest-based deductions on your taxes (state and federal). In addition, certain
www.TheSmartChoiceLoan.com | www.504Blog.com | 1-866-MCC-4504
REVEALED: The 15 Secrets to Choosing a Commercial Real Estate Broker!©
20
Mercantile Capital Corporation940 Centre Circle, Ste 3006, Altamonte Springs, FL 32714
Phone: 407-786-5040 or 1-866-MCC-4504 | Fax: 407-682-1632Email: [email protected]
Website: www.TheSmartChoiceLoan.com | Blog: www.504Blog.com
About the AuthorChris Hurn is currently CEO, and Cofounder of Mercantile Capital Corporation (MCC) where his firm specializes in providing the highest cash-on-cash return financing for business owners and entrepreneurs buying commercial property. His company was on the 2007 Inc. 500 list of America’s fastest growing companies, ranked # 245 with 951% growth over a 3-year period. To date, MCC has closed commercial loans in 33 states for over $370 million in total project costs -- one business owner at a time, including for numerous franchised concepts -- and has been voted “Best Place to Work” by the Orlando Business Journal for 3 years running.
Chris is also the CEO, Cofounder and Chairman of Kennedy’s All-American Barber Club®. Kennedy’s is a franchised concept that offers the finest haircuts for men, the lost art of straight-razor shaves, and a modern selection of grooming products all within a membership-based, nostalgic club atmosphere. It is a membership-driven, mass-affluent targeted, recession-resistant business more about a lifestyle experience than just haircuts. It’s designed to be a “sanctuary” for men -- a place to get away from the “chop shops” and indulge in “affordable luxuries” just for men. He is currently franchising Kennedy’s nationwide.
Chris is well-known for his innovative marketing achievements and continues to coach and consult nationally with various business owners and entrepreneurs. Here a few other notable awards and accolades Chris has received:
Reader’s Choice Award for “Most Respected Executive in Central Florida” and “Best Small Company in •Central Florida.”
“SBA Marketing Guru of the Year.”•
NADCO’s “Banker of the Year.”•
SBA Financial Services Champion.•
Top Twenty Most Influential People in Small Business lending.•
“Top Male, 40 Under 40” in Orlando.•
One of the “100 Most Influential People” in Central Florida.•
Throughout his career, Chris has served in various leadership positions, including his background as a business consultant and financier with GE Capital and as CFO for the NAI RealVest group of companies. He graduated from Loyola University Chicago with two magna cum laude bachelor degrees; earned a master’s degree from the University of Pennsylvania’s Fels Center (formerly at the Wharton School of Business); and dropped out of Georgetown University Law Center after one year, when he realized the world didn’t need any more attorneys.
Chris is a frequent speaker and writer for national events and publications, and has been featured in the Wall Street Journal, Inc. Magazine, BusinessWeek, L.A. Times, Forbes, the Sacramento Bee, the Orlando Sentinel, Scotsman Guide, Franchise Times and many other regional and nationally-recognized trade publications, as well as in six business books to date.
He maintains a busy civic calendar as a member of the Orlando Regional Chamber of Commerce’s Small Business Board and the Florida Hospital Foundation Board, as well his involvement with many other esteemed community organizations.
Be sure to contact Chris Hurn and his team of Commercial Real Estate Financing Experts when you or someone you know is interested in owning commercial property the Smart way. Here’s how: