All Forum Posts by: Nic DeAngelo

I'll be there!

Hi Guys! I have spent the last several years creating and building up several businesses here in California. I would like to now sell these businesses, take these funds, and invest full time into real estate. Are there any legal tax strategies where I could sell my businesses, purchase properties with the proceeds, and defer/avoid/shelter myself from the business sale tax burden while purchasing properties? Possibly similar to a 1031 type structure? My apologies if this is basic info, I’m pretty familiar with real estate but very ignorant of tax investment strategies. Thank you! - ND

BP Nation! Long time no talk. I've been listening to the podcasts regularly and checking out the forums from time to time. I'm stoked on the amount of growth and ever increasing quality of posts and topics I'm seeing.

Short questions: What is the best method, or your personal recommendation, for transitioning Mom and Pop power retail shopping centers into properties with multiple National Credit chains as tenants?

Long Question and Details: I was hired on as a leasing and operations manager for a Souther California private investor portfolio with 20 +/- properties at any time. We took leasing from 80%+/- to 99%+, so the occupancy is very strong and we've proven a track record for leasing and managing quick turnaround on filling spaces. All retail centers are  B-/C level properties, VERY high traffic intersections, and low income areas. 

I've had some minor success bringing Nationals in in the past, but not enough to where I feel confident with this tenant type.

Any help or advice is greatly appreciated!! :)

Hello all,

Here are the CoStar Rates as of this morning directly from the Southern California Rep (we have been long time LoopNet users so rates may be higher for those not on LoopNet):

"Your office does qualify for our current promotion, which we are only offering to a small group of LoopNet clients.

CoStar Suite:

1 Market - $295 (Normally $912)
2 Markets - $590
3 Markets (contiguous markets) - $690
California Statewide Data - $985
US Data: $1,290"

Worth Mentioning: LoopNet is phasing out their commercial comps in an effort to get people to pay the higher price for CoStar, since CoStar recently purchased LoopNet and they don't want to compete with themselves.

Hope this helps

Thanks for all the input guys!!

I will definitely research the suggestions.

I am pretty familiar with wordpress and the different options, but I was really looking for a more All in One solution that I could put together in about an hour's time and take down as soon as I close a listing / lease / etc.

Wordpress is exactly what I would and have used for more permanent and design demanding projects.

In my experience, for the quick setup, ease of use, and super flexible terms, SQUARESPACE has been the best solution for listings, especially if you're juggling 6-7 at a time and don't have the manpower to put towards 6-7 wordpress sites. It's easy enough that my assistant can do it and the terms are month to month. Worth a look in my opinion! There are many areas it leaves you wanting but for a turn and burn site that still has a sexy look to it, it's been great.

If you're looking for permanent sites, wordpress is still the way to go.

I read a BP article a week or two ago about marketing best practices and the idea of doing a website for each listing really seemed like a good idea for the listings I have currently. The article didn't mention a good company to go through however.

Does anyone have any recommendations for a good premade website company for listings? Have you found success with this method for marketing your listings?

I've already googled it and found a couple but I'm really more interested in the firsthand experiences of the BP community.

Thanks!

Hi Bill and thank you for your input!

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-Yes. Essentially all things pertaining to a specific property that could come up in the future. Because the trustee sale's are 100% buyer beware we're looking to avoid condemnation, and any major issues that could cause the property to be red tagged or otherwise require a lot of money to be brought up to speed.

For example (and also the reason I'm asking), we purchased an industrial building that was newer construction. Turns out it had been built above an old gas station with multiple tanks below that were leaking. To correct the problem we essentially put back in whatever equity we had made on the buy.

THESE are the situations we're trying to avoid.

As far as how far back, we need to go as far back as is relevant really. Any environmental or unseen construction that wold come up after we purchased the property.

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-The way I framed it definitely made it sound that way. It's actually just a network of very established landlord and investors. No corporate problems.

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-LOVE this. I definitely will get a list of the previous owners and businesses!

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-Unfortunately we deal with hundreds of properties at a time so appraisals on each deal become prohibitively expensive. When we do get appraisals we definitely want any and all issues mentioned.

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haha unbelievably. But this is the business we chose!

Bill are there any online resources you know of to look up a property's previous owners or environmental impact/problems?

Thanks again!

Hi BP Nation!

It's been a while. I hope you are all doing well :)

I work with a company that buys mid to large size commercial properties at trustee's sales across California. Because we have so many deals that are coming down the pipeline, and because a very small percentage of deals make it through the strict criteria we have, and even fewer go to sale, we can't get a full report for each property we're researching.

Are there any online resources for historical environmental issues with properties or any possibly hazardous additions like new underground tanks etc? Are there any that would cover Industrial, Retail, Apartments, and Office? Any others you would recommend?

I've been using GeoTracker (which is a great resource by the way!) but it is limited primarily to water issues.

I searched the forums and blogs and found limited information on this subject, and with the specific guidelines of due diligence for a Trustee's Sale, I haven't found anything applicable.

Thanks :) Any help appreciated!!

Remember: Vote early and vote often! The more times the better

Hey BP,

I handle the leasing for 12 Retail Strip Centers/Office Buildings.

Most are completely leased and have little turnover, but 3 in particular have huge turnover and require a lot of my time.

Is there a software program that can help with managing the different status of the units and tenants?

Ideally:

- A visual layout of the property with color coded units indicating the unit's status
- list of rent roll including lease expiration dates, if month-to-month status, and any other notes
- Auto generated vacancy rate, and auto generated cap rate property value based on projected income
- Different tabs for multiple properties
- Maybe extra features like local demographics, business saturation, comps, etc
- Cloud computing access for multiple locations and users
- Who is current or behind in rent

I know it sounds like a lot and very specific.

I have spent a lot of time googling and haven't found anything that matches this. A program with these features would probably save me 75% of my research time with the high turnover properties (which also happen to be the properties with the lowest rental rate and commission, 80/20 rule in action)

Any and all suggestions or referrals are greatly appreciated!

Otherwise I may have to develop it myself haha

-ND