It’s Time To Act Now

The financial crisis of 2008 hit small businesses hard; many went under and those that survived are still barely holding on.  September 27, 2010, Obama signed the Small Business Jobs Act, benefitting mom and pop shops all across the nation.  Small businesses received eight tax breaks on top of the eight already implemented since Obama took office.  The act has also allowed small business owners to attain credit and loans more easily, as well as providing fee relief for owners buying CRE through SBA programs. 

Simply put, the Small Business Jobs Act is a pretty sweet deal that all small business owners can and should take advantage of.  There is just one hitch: the expiration date.  This relief to small business finances will no longer be offered after December 31, 2010 (or when resources are spent). 

Considering it generally takes between 60 and 90 days to complete a purchase transaction, business owners looking to purchase: the time to act is now… if of course, you want to get in on this government deal.  If buyers wait much longer, the opportunity will pass right by.

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Three Things Commercial Real Estate Buyers Don’t Realize

Many buyers think they have all the time in the world when it comes to making a commercial real estate transaction.  They’re sadly mistaken.  Some transactions ensue in a very short period of time, and buyers are caught by surprise, unprepared and frantic.  So you don’t find yourself in this unfortunate position, here are three simple tips to follow:

 1. You should be PREQUALIFIED by a lender for your loan so you can strike and react quickly.  It takes roughly 2-4 weeks (and sometimes longer) to get prequalified. This upfront investment in time conveys you are serious and ready to buy.  Being preapproved also allows you to react quickly in that you have the financial backing ready to go so when you find the place you’re looking for you can pounce before any other offers hit the table.

 2. Understand all of the COSTS and expenses— for example, know what the common area maintenance (CAM) charges include, and more importantly what they do not include.  Will they include air conditioning repairs?  Window washing?  Exterior paint when it’s needed?  These are important questions to ask so you can asses all of the potential costs.

 3. You need to have RESERVES for unforeseen expenses.  Even if you have gone over the costs and expenses before jumping into your new real estate investment, know that there is always the possibility of something going awry.  For instance, what if an AC unit goes out unexpectedly and you need it fixed immediately?  What if the plumbing springs a leak?  What if the CAM expenses increase? What are you going to do?  Do you have a reserve? Answer: You should.

 The main point I’m trying to make is, simply, be prepared, be over prepared.  There are a lot of variables within a commercial real estate transaction, and if you’re prepared, you will be ahead of the game.

Anticipate more helpful hints regarding your transaction, coming soon.

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Rentable vs. Usable Square Feet

New Idea To Share – Rentable vs. Usable Square Feet

Check out more of Randy’s videos on the videos page of this website!

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Strike While It’s Hot!

Check out this new Idea To Share from Randy Mason.

For more Ideas To Share, check out the videos section of this website!

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Another Idea To Share

Help! I Need My Keys Now!

DON’T FORGET TO CHECK OUT MORE OF RANDY’S “IDEAS TO SHARE” ON THE “VIDEOS” PAGE OF THIS WEBSITE!

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Ideas To Share

Blend and Extend

CHECK OUT MORE OF RANDY’S “IDEAS TO SHARE” ON THE “VIDEOS” PAGE OF THIS WEBSITE!

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21 Hilarious “Laws of the Office”

Have you laughed today?

http://www.myhumor.org/clean-jokes/business-jokes.asp

  1. If you can’t get your work done in the first 24 hours, work nights.
  2. Don’t be irreplaceable, if you can’t be replaced, you can’t be promoted.
  3. It doesn’t matter what you do, it only matters what you say you’ve done and what you’re going to do.
  4. After any salary raise, you will have less money at the end of the month than you did before.
  5. The more you put up with, the more you are going to get.
  6. You can go anywhere you want if you look serious and carry a clipboard.
  7. When the bosses talk about improving productivity, they are never talking about themselves.
  8. If at first you don’t succeed, try again. Then quit. No use being a fool about it.
  9. There will always be beer cans rolling on the floor of your car when the boss asks for a ride home from the office.
  10. Keep your boss’s boss of your boss’s back.
  11. Everything can be filed under “miscellaneous.”
  12. Anyone can do any amount of work provided it isn’t the work he/she is supposed to be doing.
  13. Important letters that contain no errors will develop errors in the mail.
  14. If you are good, you will be assigned all the work. If you are really good, you will get out of it.
  15. You are always doing something marginal when the boss drops by your desk.
  16. People who go to conferences are the ones who shouldn’t.
  17. If it wasn’t for the last minute, nothing would get done.
  18. At work, the authority of a person is inversely proportional to the number of pens that person is carrying.
  19. When you don’t know what to do, walk fast and look worried.
  20. No matter how much you do, you never do enough.
  21. The last person that quit or was fired will be held responsible for everything that goes wrong.
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The Secret of Success: “The Last Lecture” by Randy Pausch

Here are some encouraging/motivating quotes from Randy Pausch in The Last Lecture. I hope you find Randy’s words as inspiring as I do.

On September 18, 2007, computer science professor Randy Pausch stepped in front of an audience of 400 people at Carnegie Mellon University to deliver a last lecture called “Really Achieving Your Childhood Dreams.” With slides of his CT scans beaming out to the audience, Randy told his audience about the cancer that is devouring his pancreas and that will claim his life in a matter of months. On the stage that day, Randy was youthful, energetic, handsome, often cheerfully, darkly funny. He seemed invincible. But this was a brief moment, as he himself acknowledged.

  • Better to fail spectacularly than do something mediocre.
  • Brick walls are there for a reason. The brick walls are not there to keep us out. The brick walls are there to show how badly we want something. Because the brick walls are there to stop the people who don’t want something badly enough.
  • If there’s anything I want to do so badly, I should have already done it.
  • We can’t change the cards we are dealt, just how we play the hand.
  • Be good at something; it makes you valuable…Have something to bring to the table, because that will make you more welcome.
  • I’ve never understood pity and self-pity as an emotion. We have a finite amount of time. Whether short or long, it doesn’t matter. Life is to be lived.
  • It is not about achieving your dreams but living your life. If you lead your life the right way, the karma will take care of itself, the dreams will come to you.

Randy’s lecture has become a phenomenon, as has the book he wrote based on the same principles, celebrating the dreams we all strive to make realities. Sadly, Randy lost his battle to pancreatic cancer on July 25th, 2008, but his legacy will continue to inspire us all, for generations to come.

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5 Reasons You Should Acquire a Commercial Real Estate Broker

A Commercial Real Estate Broker…

  1. Has knowledge of the process and product.
  2. Has a high degree of professionalism offering the ability to cut down the number of complications during the transaction process.
  3. Will have a vast amount of knowledge, providing the client with a greater advantage when negotiating with landlords.
  4. With a well established track record is beneficial, in that, the client may be assured that the broker has dealt with circumstances similar to their own.
  5. Is primarily focused on the current objective, leaving out distractions that may conflict with a successful transaction.

Information courtesy of Strategies in Tenant Representation provided by the Society of Industrial and Office REALTORS®

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Ever wonder what is on your hotel magnetic key card?

Answer

a. Customer’s name

b. Customer’s partial home address

c. Hotel room number

d. Check-in date and out dates

e. Customer’s credit card number and expiration date!

When you turn them in to the front desk your personal information is there for any employee to access by simply scanning the card in the hotel scanner. An employee can take a hand full of cards home and using a scanning device, access the information onto a laptop computer and go shopping at your expense.

Simply put, hotels do not erase the information on these cards until an employee reissues the card to the next hotel guest. At that time, the new guest’s information is electronically ‘overwritten’ on the card and the previous guest’s information is erased in the overwriting process.

But until the card is rewritten for the next guest, it usually is kept in a drawer at the front desk with YOUR INFORMATION ON IT!

The bottom line is: Keep the cards, take them home with you, or destroy them. NEVER leave them behind in the room or room wastebasket, and NEVER turn them into the front desk when you check out of a room. They will not charge you for the card (it’s illegal) and you’ll be sure you are not leaving a lot of valuable personal information on it that could be easily lifted off with any simple scanning device card reader.

For the same reason, if you arrive at the airport and discover you still have the card key in your pocket, do not toss it in an airport trash basket. Take it home and destroy it by cutting it up, especially through the electronic information strip!

If you have a small magnet, pass it across the magnetic strip several times. Then try it in the door, it should not work. It erases everything on the card. Information courtesy of:

Metropolitan Police Service.

PLEASE FORWARD to friends and family

This is pretty good info. Never even thought about key cards containing anything other than an access code for the room!

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