Between Two Chairs - Demystifying Commercial Real Estate

Continuing with our October Halloween/Scary theme, this episode discusses ideas to get over your fears through planning so you are ready to take advantage of opportunities that will present themselves. If you are a new agent or investor you need to have clear, specific goals; get to know your market and see if it aligns with your goals; and finally get to know your properties and see which ones align with your goals. And no real estate plan is complete without thorough due diligence. We discuss some examples of due diligence items that, if not checked, can turn into a real nightmare.Napoleon Hill Think & Grow Rich and FearDavid Robinson NBA legend with a phD in connecting with peopleChris Voss former FBI Negotiator, author of Never Split the Difference and founder of The Black Swan Group.Miami Herald, South Florida Business Journal, The Real Deal

The title of this episode is a quote from Zig Ziglar. Which camp would you rather be in? Everyone knows negative news sells and focusing on the negative news can be paralyzing to an individual, a business, an economy and can become a self fulfilling prophecy.Between perception and reality lies opportunity, so take advantage of this time of year and the negative headlines regarding commercial real estate and find the opportunities in your market to grow your business and portfolio.

Fall is the beginning of South Florida's BUSY season, so no time to fall back on your prospecting. A lot of people are winding down for the year but, if you want to avoid a roller coaster ride in 2024, use this time of year and all of the great events that are going on to connect with your sphere, create traditions, review your goals for 2023 and set up your goals and processes for 2024 . The 4 Disciplines of ExecutionThe E-Myth by Michael GerberPrincipals by Ray DalioDid you know?...The business of pumpkin flavor will be an $802 million business in 2023. Starbuck's Pumpkin Spice Latte was introduced in 2003.In 2022 Miami was the second most visited city in the country, 28th most visited Ratio of tourists:local residents: 1641 tourists/100 local residents.

The office asset class has been in the news a lot lately due to vacancy rates, remote work, and fears of a crash as CMBS loans come due in the next couple of years. Following Warren Buffet's idea of invest when people are fearful, we tour Miami's office market and discuss differences between A,B & C office buildings as well as different Miami neighborhoods.

What do the children's book, The Little Engine That Could, Henry Ford and commercial real estate have in common? You need the right mindset to deal with the ups and downs of commercial real estate. You will get a lot of no's before you get a yes and what you can do versus what you are willing to do to get to the yes, will make a huge difference.

Building communities and creating the fabric of where people want to live, work and play with landuse and zoning attorney Estrellita Sibila. When you look at zoning, you are not only studying the history of a place you also get a glimpse of the future and what the place can be. Zoning is complicated, especially in Miami-Dade County. In addition to Miami 21, a form based zoning code that creates compatability among abutting structures and is only for the City of Miami, Miami-Dade County has it's own zoning requirements and there are 30 different zoning codes, depending on which municipality you are in. Miami Beach and Miami City Ballet Workforce Housing ProjectFairchild Tropical Garden https://fairchildgarden.org/

It doesn't matter when you start in real estate. Whether the market is booming, busting, or just chugging steadily along, what you do every day is what is going to determine the strength of your business. Pay attention to the headlines, but don't dwell on them whether positive or negative. Most headlines are nationally focused and negative news sells. Focus on what is happening locally and bringing value to your sphere and your business will be positioned well. Regardless of what the market is doing, someone will need to transact for their own reasons

Key takeaways from Florida Realtors ConferenceInsurance-free home inspection https://mysafeflhome.com. Insurance profits in FL capped at 4.65%. Reinsurance price increases are slowing. Florida Realtors working with FL Insurance Commissioner to address commercial insurance. 52% reduction in volume of CMBS loans. Largest increases are in Miami, Ft Lauderdale and Palm Beach with 28% increase. Lawsuits decreasing so more insurance providers will come back.Everglades-Realtors were instrumental in getting funding for Everglades Restoration. We have been working closely with the https://www.evergladesfoundation.org to restore flow of Everglades to address green algae blooms. Shingle Creek is the headwater to the Everglades. Currently Everglades restoration is the largest Army Corps of Engineers project.Economic Update - out of state drivers license exchanges and UHaul index show continued migration to FL.Hospitality and Short-Term Rentals have had to have training for recognizing signs of human trafficking$260 million will be saved by business owners who rent, when business rent sales tax decreases by 1% starting December 1, 2023. Rent tax is expected to decrease to 2% by September of 2024.Hotel Industry - Largest industry in FL and largest employer. Revenue has increased 24.2% since 2019. FL is largest supplier of hotel rooms.South Florida retail vacancy rates at historic lows, below 4% in Palm Beach, Broward and Miami-Dade Counties.Overall delinquincies in CMBS loans still low at less than 4%. YOY starting to increase. https://www.trepp.com/the-treppwire-podcast

Do you love road trips? We do! Put your real estate goggles on and join us for a road trip to Palm Beach County. We visit a client's 124,000 SF shopping center in Juno Beach, find an AMAZING pizza place (Willy's Pizza) tucked inside a gas station, Dave Abernathy for words of wisdom, tour DecoGreen, a new mixed use development site being built by Avanti Way Capital in Lake Worth Beach, and end the trip at a Realtor's Political Action Committee investment event at a really cool, music themed restaurant/space, called Double Roads Tavern in Jupiter.

What do wine, winning and warehouses have in common? Gus Fonte, our amazing guest for this episode is a Miami native with incredible recall on everything real estate and is the 2024 Miami Realtors Chairman of the Board. Learn about warehouse/industrial investing and development through Gus' experience. What happens when an area is upzoned? What it is like to work with Industrial REITs? He is a wealth of knowledge so pull up a chair and join us to hear Gus' insights on Miami industrial real estate.

Conference season is upon us. Whether you travel near or far, the value of conferences should not be underestimated. It is not just about the education sessions and networking, but about taking time away from working in your business to working on your business.Florida Realtors Conference ICSC FloridaC5+CCIM

The dog days of summer are considered the hottest days of the year and usually run 40 days beginning July 3 and ending August 11, so we are smack dab in the middle of them. This episode is not about hot summer days, but rather about the effect pets in general and dogs in particular have on real estate. If you specialize in retail real estate do you have tenants that specialize in pet care? Do their customers bring their pets? If you are an office or business owner trying to encourage people to come back to the office consider a pet friendly policy. Totally Dog Day Care Atchana's, ChewyThe Dog From Ipanema

What do all commercial real estate asset classes have in common? They are what helps create the community and become the amenities of that community. Specialization is extremely important to become an expert in an asset class and market, but you need to keep and eye open to the bigger picture for trends, changes, and how your asset class connects to others and the community.

1 in every 4 international buyers buy real estate in Florida and the majority of those purchase in South Florida. If you are in real estate, wouldn't it be good to know who is looking? There is so much detailed information in Miami & Florida Realtors International Buyer Report that can be used by commercial brokers, sellers, and investors to find trends. If you work, or want to work, with international clients the book, Kiss, Bow or Shake Hands by Terri Morrison and Wayne A. Conaway is a must read. It can help you avoid awkward moments when working with different cultures.Florida Realtors International Real Estate ProfileMiami Realtors Global Information

As I write this, I have Julie Andrews singing "Getting to Know You" looping in my head. A road trip to Orlando, driving in circles without expectations, walking a property, speaking with people and stopping for coffee, were all steps we took to get to know a retail center in a new market. This process allowed us to get a feel for the retail center, neighborhood, and how tenants, their patrons and nearby residents use the space. It also helped us identify what new tenants would help activate the center.

The United States continues to be a draw for foreign real estate investors. Pull up a chair and learn what FIABCI, Jeb Bush, Miami, food and AI have to do with commercial real estate.Here are copies of presentations made at FIABCI World Congress in Miami 2023

What do the Three Little Pigs and kindergarten have to do with commercial real estate? Turns out, quite a bit. Pull up a chair and join us for a trip back to story time and the real estate lessons that can be learned from a favorite children's story.

We continue our conversation with Emily Line, Vice President, Member Experience at Realtors Property Resource (RPR). "Keeping the user at the center of all innovation" and "Stupid simple is what every human being needs" are concepts at the core of RPR's tech. These concepts drive RPR's collaborative efforts with other companies to maximize the commercial real estate practitioners deep dive into a community and property type.

What do U of M, horseracing, Special Days, Chicago, Orange County, Miami, Greg Harden, and Sam Zell have in common? Emily Line, Vice President, Member Experience at Realtors Property Resource! Join us on our first interview to get insights on moving the needle, facing challenges, thinking ahead and coloring outside of the lines, all important aspect of commercial real estate.This episode is dedicated in gratitude and loving memory to Sam Zell and Katie Line. If you would like to donate to Special Days Camp, click here https://specialdays.org/how-to-help/donations/

Hyperlocal data is where the agent adds value to the transaction. With 34 municipalities and neighborhoods in unincorporated areas, there is a perfect location in Miami for your business or investment.

Qualifying questions not only measure the likelihood that a customer will be able to execute a deal they are also used to feed conversation and build rapport.

Everyone always says, "Buy Low, Sell High", but what does that mean? It is tough to time any market, whether real estate or stock, so how do you know when "low" is low enough to buy? So many potential investors miss the boat waiting for the market to drop. Every market cycle is different by location and asset class, so when is the right time to buy? Pull up a chair and find out.

In this episode we discuss the legislative wins that directly affect Florida's communities including the Live Local Act, Business Rent Tax Reduction, Condo & HOA Laws, & all of our Environmental Initiatives.

As a commercial practitioner, you are boots on the ground as to the issues affecting property and business owners in your community. Telling your local and state officials the stories about what is affecting your community, instigates change!

Every commercial transaction is unique with it's own set of challenges, potential roadblocks and curve balls. Your team and communication is so important in protecting the client and being the solution to those challenges.

Meet the hosts, Fernando Arencibia and Jennifer Wollmann.