Andrew Teacher’s Post

Sometimes Negotiations Fail - But it will be a WIN for someone else In the hip real estate landscape of East Austin, negotiations can often feel like a high-stakes game of chess. Recently, we found ourselves locked in months of negotiation with a tenant. Despite our best efforts to reach a fair agreement, including a generous 10% discount on market rent, the process was fraught with revisions and reevaluations. As the landlord rep of a prime, highly sought-after property, we aimed to balance goodwill with tenant and financial goals for the landlord. The tenant, armed with advice they believed to be wise from other local tenants, continued to push for better terms. This back-and-forth pulled into sharp focus the reality many leasing business owners face in Austin: demand for retail, restaurant, and cocktail bar space is high with low vacancy in our city and little room for tenant negotiation. The decision point came when we looked at the numbers—a clear, unemotional view of what was on the table versus the potential with a new tenant. An experienced broker is in the weeds daily for years - so they know market rent and demand for space. When projections for this space show a potential gain in the multiples of $100,000s, the path forward becomes clear for the landlord. These are the moments that define our strategic approach to real estate management, investing, and consulting. For my fellow brokers and those interested in Austin's vibrant real estate and community events, I invite you to sign up for our monthly newsletter. It's your gateway to coming soon listings before they hit the market, coupled with local insights and events like the East Austin Thursday Night Bike Ride. Check out our latest offerings sent out today. "Commercial Chronicles" is the newsletter focused on local - by subscribing you will receive the latest https://lnkd.in/e5WrgNB7

Good morning. Here’s your daily round-up of the latest news and views from EG, all perfectly curated to set you up for the week ahead. The global chief executive of residential investor-developer Greystar has vowed to continue pursuing an “aggressive” growth strategy in the UK and Europe. Speaking at the company’s new London offices at Brookfield Properties’ The Gilbert at 40 Finsbury Square, EC2, Bob Faith described the capital as “a crossroads of the world’s investors” and reflected on the group’s decision to start its international expansion in the city. “When we first came over here it was 2012, just a small team of us,” he said. “The UK was recovering more slowly from the global financial crisis than the US was, and it seemed like there was this amazing opportunity around student housing, then multi-family, which didn’t really exist here. Every time we would talk to someone they would say ‘Oh, that will never work here, no one will ever want to rent in a whole building of rentals’. And we said, ‘Hmm, want to bet?’” Faith continued: “And that was the bet that we made. If you look around the world at the great cities, they’re all growing. They all have shortage of housing, and they particularly have a shortage of housing that is even somewhat attainable or affordable. That is exactly what we do.” Greystar now has close to 1,000 employees in offices across Europe. His commitment to growing its residential footprint in the UK and Europe comes as Legal & General prepares to select Sixth Street and Patron Capital Partners as buyers for its £12.bn Cala Group. The purchase of the housebuilder by Patron would be a return of ownership, having offloaded its majority stake to L&G six years ago. Housebuilder Persimmon Homes remains in the race. Rothschild & Co is advising on the sale. Patron is also splashing its cash on retail and with Lugus Capital has bought the 320,000 sq ft Blackpool shopping centre and retail park in Cork for around €49.5m (£41.8m)49.5m (£41.8m), a tasty discount on the €115m vendor Värde Partners paid for it a decade ago. It’s a busy week of updates from the market this week, with interims and final results from Henry Boot, Target Healthcare REIT Ltd (THRL), Springfield Properties, Supermarket Income REIT and MJ Gleeson PLC to name but a few. There’s plenty of activity too in planning departments across the country as departments decide whether to give the go ahead to hundreds of thousands of sq ft of life science space, thousands of new homes and, of course, the world’s most objected to development – Flamingo Land – on the banks of Loch Lomond. And don’t forget, the most inspirational event in the built environment takes place tomorrow as future leaders and the greatest prospects for the real estate industry gather for our Real Estate Futures event. See you there. All that and so much more in your EG MORNING NEWS ⬇ ⬇ ⬇ https://lnkd.in/eAXdMTQ2

Legislation that would establish the Mixed-Use Revitalization Program to incentivize the revitalization of commercial properties has been passed by the Pa. House. https://ow.ly/oRvs50RPBik House Bill 2174 will now be considered by the state Senate. The bill is sponsored by state Rep. Justin Fleming, D-Dauphin. Fleming cited former shopping malls as an example of the rise of large commercial properties that fall into disrepair after they’re abandoned. Read more here👆 Join our growing family of investors as we secure Our next acquisition at 829 W Linden in Center City Allentown, boasting 7 renovated units with a 9.5% cap rate. Explore more at https://ow.ly/hSUg50RPBiq. #RealestateMarket #RealestateInvestment #CommercialRealestate #MultiFamilyRealEstate #AccredictedInvestors

Legislation that would establish the Mixed-Use Revitalization Program to incentivize the revitalization of commercial properties has been passed by the Pa. House. https://ow.ly/ux3T50RPBit House Bill 2174 will now be considered by the state Senate. The bill is sponsored by state Rep. Justin Fleming, D-Dauphin. Fleming cited former shopping malls as an example of the rise of large commercial properties that fall into disrepair after they’re abandoned. Read more here👆 Join our growing family of investors as we secure Our next acquisition at 829 W Linden in Center City Allentown, boasting 7 renovated units with a 9.5% cap rate. Explore more at https://ow.ly/VclV50RPBiu. #RealestateMarket #RealestateInvestment #CommercialRealestate #MultiFamilyRealEstate #AccredictedInvestors

Three things on a Monday morning, the real estate edition: 1) Allsopp & Allsopp Group is opening a Private Office to ‘attack’ the HNWI/UHNWI market, boss Lewis Allsopp tells us (below, all 6 foot 5 of him). That’s the AED 25m+ market, where the clients need a lot of ‘wining and dining’, he says. The company has also just invested around a quarter of a million dollars in a major rebrand. 2) How do you tell if the market is going to dip though? Two red flags to watch for, says our other property boss this morning Sam McCone of McCone Properties: developers offering sweeteners such as DLD waivers, suggesting they’re struggling to move inventory, and rental units staying on the market for longer, bringing yields down. 3) However, both Lewis and Sam say they’re not seeing any slowdown signs yet – which the numbers Zhann Jochinke has been teasing ahead of his May Property Monitor report would seem to back up, including a new all-time record for sales transactions. We’ll have him just before that report goes live toward the end of the week.

Nice gentle bombshell of a story to start the week off! As I said in the comments this is interesting as I know that over the years there’s been a lot of interest in what Realestate.com.au have been doing in Australia. Possibly one of the only businesses that RM could learn from, from a revenue earning angle particularly. The biggest concern as far as I can see from a UK agents perspective is that rather than just office based charging they also allow per listing fees which goes up dependent on the location in the market and that might be up to from memory as much as 5-6 thousand Aussie dollars. That might be sustainable at those levels with Australia’s amazing ability to get consistent vendor paid advertising but surely not here. But that change could have massive connotations. A Co Star – REA ding dong suddenly raises the stakes massively , could agents benefit from all the increased marketing to win hearts and minds of the public. Grabs popcorn for the #portalwars #estateagents #lettings #property #proptech https://lnkd.in/enn2N7vz

🔑💰 Maximize Returns from Your Inherited Property in Birmingham 💰🔑 Inheriting property, particularly in a robust market like Birmingham, presents an exceptional opportunity to unlock substantial value. However, the path to maximizing returns isn't always straightforward. Here are key strategies to ensure you make the most out of your inherited asset: 1. **Professional Valuation**: - Begin with an accurate, professional valuation. Understanding the true market value of your property is crucial for making informed decisions. 2. **Understand Market Trends**: - Birmingham's property market is dynamic and thriving. Regularly monitor local trends and upcoming developments. Areas like the Jewellery Quarter and Digbeth, for instance, are witnessing rapid growth. 3. **Renovation and Upgrades**: - Modernizing the property can drastically improve its market value. Focus on high-impact, cost-effective upgrades like kitchen and bathroom renovations, or even energy-efficient upgrades which are increasingly valued by buyers. 4. **Seek Expert Advice**: - Consult with estate agents or property consultants who specialize in the Birmingham market. Their insights can provide you with strategies tailored to your demographic and geographic specifics. 5. **Rental Potential**: - If selling isn’t urgent, consider the rental market. Birmingham’s rental sector remains strong given its young population and influx of professionals and students. This could provide a steady income stream while your property appreciates. 6. **Financial Planning**: - Engaging financial advisors can help navigate taxation issues around inherited property and optimize your financial strategy to reduce liabilities and maximize gains. 7. **Leverage Technology**: - Utilizing platforms like virtual tours, high-quality online listings, and social media advertising can reach a broader audience, potentially driving up the sale or rental price. 8. **Community and Amenities**: - Highlight the benefits of the surrounding community and local amenities. Birmingham's rich culture, shopping districts, and transport links make it an attractive location. Maximizing the value of your inherited property in Birmingham requires strategic decisions and leveraging expert insights. Take the necessary steps to ensure you capitalize on this burgeoning market. For personalized consultation and further guidance, feel free to get in touch with our team today. #RealEstateInvestment #PropertyManagement #BirminghamRealEstate #InheritanceWealth #MaximizeReturns #PropertyValuation #FuturePlanningseriousserious

Another Month, Another Newsletter from Invictus Property Advisors!! Below are some notable NYC Real Estate headlines that you should be aware of: Vacating through buyouts no longer counts toward 80% Benchmark🚫: While bulletin 2023-3 eliminated the 80% presumption, DHCR is now taking the position on applications submitted under 95-2, that tenants who voluntarily vacated in a buyout do not count toward the 80% presumption. Can You Refuse to Renew a Rent Stabilized Tenants Lease?🏢🔑: Gary Barnett was able to evict a rent stabilized tenant by getting approval from the state housing agency stating that the building was to be demolished. Real Estate and Unions to Debate Tax Break “485x”🤝💼: Kathy Hochul is leaving it up to the real estate industry and labor unions to come up with a program they both can live with. The measure calls for both parties to ink a memorandum of understanding on the new program by Jan. 1, 2025. 46 Properties Signed Up for Office-to-Resi-Conversion Program🏗️: The buildings were not identified individually, but four have already launched the conversion process for more than 2,100 housing units. These four conversions account for an 10% of Adam’s projected 20,000 units that would be a direct result of this program. Gov. Hochul Unveils Executive Budget📊🔄: Gov. Kathy Hochul unveiled a $233 billion spending plan for fiscal year 2025. Hochul’s executive budget includes replacing the property tax break 421a, extending a deadline for the expired program by four years and authorizing the city to legalize existing basement and cellar apartments. It also pitches lifting the city’s cap on residential floor area ratio, which would enable the city to rezone specific areas. Another Luxury Brand Purchases Building Along Fifth Ave🛍️💎: Kering’s purchase follows that of Italian fashion house Prada’s purchase of 724 Fifth Ave. for $425 million. Prada was said to have also picked up 720 Fifth Ave. for about $410 million.

San Francisco's post-pandemic slump appears to have ended in 2023, with a notable resurgence in its economy, society, and media attention. Confidence is rising in its future as a financial and cultural hub, as well as a key player in the tech industry. Improved interest rates and booming financial markets are driving a recovery in the housing market as we enter the busy spring selling season.

𝐋𝐞𝐭'𝐬 𝐓𝐚𝐥𝐤 𝐀𝐛𝐨𝐮𝐭 𝐋𝐚𝐧𝐝 𝐎𝐰𝐧𝐞𝐫𝐬𝐡𝐢𝐩 “𝑩𝒖𝒚 𝒐𝒏 𝒕𝒉𝒆 𝒇𝒓𝒊𝒏𝒈𝒆 𝒂𝒏𝒅 𝒘𝒂𝒊𝒕. 𝑩𝒖𝒚 𝒍𝒂𝒏𝒅 𝒏𝒆𝒂𝒓 𝒂 𝒈𝒓𝒐𝒘𝒊𝒏𝒈 𝒄𝒊𝒕𝒚! 𝑩𝒖𝒚 𝒓𝒆𝒂𝒍 𝒆𝒔𝒕𝒂𝒕𝒆 𝒘𝒉𝒆𝒏 𝒐𝒕𝒉𝒆𝒓 𝒑𝒆𝒐𝒑𝒍𝒆 𝒘𝒂𝒏𝒕 𝒕𝒐 𝒔𝒆𝒍𝒍. 𝑯𝒐𝒍𝒅 𝒘𝒉𝒂𝒕 𝒚𝒐𝒖 𝒃𝒖𝒚!” 𝘑𝘰𝘩𝘯 𝘑𝘢𝘤𝘰𝘣 𝘈𝘴𝘵𝘰𝘳 Apart from the high growth potential, sense of satisfaction, and achievement that ownership brings, one of the other compelling reasons for getting into real estate was a land dispute case that ended up in court. This latter situation made me realise that land disputes were quite common, yet several of them could be avoided by just making the right information accessible to the prospective land buyer. Understanding land ownership is imperative for anyone aspiring to become a landlord. To kick start the series, I would like to mention that three major things affect land prices both locally and globally and these are: 1.Location and accessibility 2.Tenure and records 3.Physical attributes Land located near facilities and amenities such as tarred roads, health facilities, malls, and utilities will cost more than that on the fringes of the city, especially if it is under leasehold. Land located near facilities and amenities such as tarred roads, health facilities, malls, and utilities will cost more than that on the fringes of the city, especially if it is under leasehold (on title) as opposed to the customary tenure. It will also cost more if it has a topography that favours the needs of the developers. Of course, there are several other factors that we will discuss in subsequent articles. 🙂 --------------------------------------------- Taking the next step: If have any questions or property needs, click on the link and we will gladly asisst. We can also cater to your property needs - rentals, sales, acquisitions etc +260979884392 | +260764818181 |+260954731375 | +260 969960000 |+260 950 000946 https://bit.ly/4bojveq