Month: April 2017
#how to search for commercial property
Three Methods of Appraising Commercial Real Estate Value
There are three primary methods for commercial real estate appraisal.
There are three primary means of appraising commercial real estate: the cost approach, sales comparison approach and the income capitalization approach. Each method has value depending on the situation and type of real estate involved.
The cost approach is not commonly used. The primary assumption of this method is that the value is the same as the cost to construct the property or replacement cost. This method requires an in-depth knowledge of construction and material costs.
Sales Comparison/Market Approach
This is the method most are familiar with as it is the accepted method for valuing residential real estate. Typically this method involves selecting properties with similar characteristics in the the same market area that have recently sold. Once those properties are found they are compared to the property in question and a professional appraiser will deduct value from the subject property for comparative deficiencies and increase value for advantages. Typically this method is required if the investor is seeking conventional financing.
Income Capitalization Approach
This valuation method is a short-hand means for real estate investors to determine the value of a property based on its income in comparison to similar properties. Essentially, if the investor knows what prevailing capitalization rates are in a given market for that type of property, he can divide the income generated by the property by the capitalization rate and come up with a sales value as a result.
About the Author
Joel S. Hinckley has many years of experience in both commercial and residential real estate and is a published author on the topic of 1031 exchanges and Tenants-in-Common investing. Hinckley has been involved in numerous successful start-up business ventures and is an expert on Marketing, Strategy, and International Trade and Finance. He earned his MBA from the University of Pittsburgh. He is currently working as COO of a real estate valuation company.
- real estate image by Andrei Merkulov from a href= http://www.fotolia.com Fotolia.com /a
- How to Calculate Income Approach for a Commercial Property
- Valuation Methods for Real Estate Property
- Using the Capitalization Rate to Determine the Value of Real Estate
- How Do I Calculate Property Value on Rents?
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#how to get commercial listings
How to Get Commercial Lawn Accounts and Landscaping Contracts
Landing a large commercial account is at the top of many landscapers’ wish lists.
But transitioning into the commercial landscaping market requires more than just buying larger mowers and trucks. You have to change the way you and your team manage projects to truly be successful.
Here are the dos and don’ts of bringing in commercial lawn accounts and landscaping contracts.
Residential vs. commercial landscaping
Before jumping into commercial work, you need to do your homework.
“It’s a totally different animal,” says Gib Durden, vice president of business development at HighGrove Partners in Austell, Georgia. “It’s still cutting grass, pruning and planting flowers, but commercial landscaping is a totally different mindset.”
Switching between it and residential work can be difficult. “Don’t try intermingling the same guys doing commercial and residential work,” says Jim Schill, vice president of Schill Grounds Management in North Ridgeville, Ohio.
One major variant is that you rarely deal with the owner in commercial work. Your point of contact is probably not the decision maker, could be replaced at any time and has little say in what gets approved, says Terry Delany, president of ServFM in Fayetteville, Arkansas.
Profit margins are typically lower with commercial, but they are counter-weighted by higher contract dollar amounts. It’s a low-margin, high-quantity set-up, Delany says.
“For all of the things that are more difficult with commercial landscaping, it’s still easier,” he adds.
Where to find commercial lawn and landscaping accounts
Once you understand the difference between residential and commercial accounts, you can start looking for potential customers.
Use your network of existing residential clients to see if they have any connections to commercial accounts. “A lot of the time, if you’re new to the business, it might take time to gain traction,” Durden says. “Start small, and start working on that.”
You can also drive around your service area looking for businesses with points of entry, such as a sign that needs replacing, windows that need cleaning or lawn needing repair. That can help get you in the door for maintenance work.
When trying to identify prospective commercial lawn and landscaping accounts, look for locally owned places. “These are the best because you often have a chance to deal directly with the owner,” Delany says. You can also try to find properties that have the highest up-sale potential.
As for accounts to avoid, he says hotels, restaurants, low- to mid-income apartment complexes and nursing homes tend to be the worst.
Once you decide on a type of business you’d like to approach, go online and collect information on all of them in your service area, Delany says. Then, create a pamphlet aimed at that market, and start visiting the properties.
“We offer to bring lunch by for the office staff,” Delany says. “That nearly always gets us in the door.”
Building relationships when seeking new accounts
A big part of finding commercial lawn and landscaping accounts is connecting with the right people. You can’t just call companies out of the blue and expect them to give you the commercial landscaping contract.
“Cold calls and emails don’t work that well,” Durden says. Instead, he says attending community events or meetings will allow you to talk directly with the property managers. “Then, if you follow up with a call, it’s a warm call.”
There are also several organizations that can put you in contact with the decision makers. Durden suggests getting involved with real estate groups, such as Commercial Real Estate Women (CREW).
Another organization he recommends is Building Owners and Managers Association (BOMA) International. Its members are building owners, managers, developers, corporate facility managers, leasing professionals and asset managers.
Chamber of Commerce meetings, CEO forums and other networking events are also good places to meet potential clients. “Build your sphere of influence, and the world gets much smaller,” Delany says.
Bidding on commercial lawn maintenance and landscaping jobs
After you’ve laid the groundwork, it’s time to turn your attention to the bidding process.
“If you’re bidding commercial maintenance and landscaping jobs like you bid residential, you won’t get the work,” Schill says. “Most commercial accounts are chasing the bottom dollar.” That’s why it’s so important to have a good grasp on every aspect and expense of your business.
“You’re better off trying to take the scientific approach,” Durden says. That includes taking good field measurements and knowing the number of man-hours the task will require.
“It costs time and money to put a bid in on a property, so make sure you truly understand the specs and the client’s expectations,” Schill says.
When working on a contract, Delany says to add a clause giving you the right to pause work until you get paid. “If you don’t have that in your contract and you stop working, you’ve breached it first.”
One of the main numbers to look at when bidding commercial lawn maintenance and landscaping jobs is your profit. “Since all landscape contractors are paying approximately the same amount for trucks, mowers, labor, overhead and fuel, the deciding factor is often how much profit do you want/need to make on this job,” Delany says.
Here are some questions Delany suggests asking yourself when deciding how much profit to add to your bid:
- How many competitors are submitting proposals?
- Which competitors are they, and how do they usually price work?
- Was this a cold call or warm referral?
- What is your financial position as a company right now?
- Do you need to buy new equipment or hire additional employees to add this maintenance contract to your book of work?
- What are the up-sale potentials?
- Who will be your contact if you land this account?
- How long has this potential account been in business?
- Does the individual or committee have any landscape knowledge?
- How often does the account switch landscape contractors?
“You may not be able to answer all of these, but the more you think about these, the better chance you have of winning the account,” he says.
What not to do when expanding into commercial lawn and landscaping work
When you’re first starting out, it may be tempting to “buy” a job to get a foothold with an account. But, that’s a lose-lose situation. Stick to your set profit margins.
You also have to educate your employees. Just because your sales team is good at landing residential accounts doesn’t mean they’ll be as successful in the commercial sector. “In fact, without the right training, they will probably fail miserably and quit,” Delany says.
Commercial lawn accounts and landscaping contracts can bring in large checks, but make sure your business isn’t too dependent on one account. You need to have a good mix of property types. “You don’t want to have all of your eggs in one basket,” Schill says.
With the right business tools and preparation, you can make commercial accounts a profitable part of your landscaping company.
“If you have the patience and are willing to deal with slow payments and losing/replacing large accounts,” Delany says, “go commercial.”
Want more sales insight and advice? Enter your email below to receive new articles instantly (about one per week). And be sure to check out our Tip Sheet with practical advice on how to market and sell commercial landscaping work.
#how to get commercial listings
Have you ever noticed that despite the massive number of Realtors in your area, only a hand full are making a fortune selling real estate? Regardless of who these realtors work for; GMAC, Century 21, REMax, they are extremely successful where others in their office are barely scraping by. What is the secret to their success? First and foremost, it is their approach to marketing themselves and their customers.
So what techniques do they use to attract listings? Well, while the rest of us are placing door hangers and mailing out notepads, these super sales people have perfected marketing techniques that attract motivated buyers and sellers, and motivate them to take action. An example of one of the strategies that the best seller in my city uses is as follows:
1) Specialize: Despite the policy of never turning down a listing or qualified candidate, focus on specializing on the type of property that will best suit your performance goals. For the person in my area, single family attached homes provide the greatest return on investment and are turning over the fastest. This is where she is really making her money.
2) Geographic Specialization: When a person decides to sell his/her house, they will find a realtor either through referral, recognition of a local representative, or through the yellow/white pages and internet. By focusing your promotional efforts on a specific geography, you can increase your market presence so that you are the first phone call if a target client decides to sell their property, as well as first on the list if they ask a neighbor for referral. In addition, if you specialize in a specific area, people will recognize your name and be more inclined to trust you with their listing and to negotiate their deal.
3) Grow and harvest your area of geographic specialization: Focus your marketing message on the area of geographic specialization that you have chosen. If your area has a high rate of property turnover, then you will do very well. The most successful realtor in my area papers my door with her picture every Monday afternoon. In addition, she includes a list of properties in my neighborhood that are listed or for sale. Looking at the sales price of other properties is a good motivator for me to list my own home and take advantage of the capital gains.
4) Create a continual presence: Once you have chosen the type of property to specialize in, and the neighborhoods to cultivate listings, begin promoting. As a marketing manager, I am a big fan of postcards that are sent to target clients on a weekly basis. Generally, it will take about fifteen pieces of promotion before a client will remember your name, but when they decide to list, you will be the first phone call.
The overall goal is to attract as many viable listings as possible. Regardless of who eventually buys the property, as the listing agent, you get to take advantage of the commission. By focusing your time on marketing yourself to your most promising targets, you will save time and increase your listings substantially.
#how to get commercial listings
FAQ -Frequently Asked Questions about the topic:
Can a business directory help me reach more customers?
Small businesses are connecting with new customers every day thanks to local business listings online. When people want to find an auto mechanic or locksmith in their neighborhood – but don’t have a specific address in mind – they consult their favorite search engine. Within seconds, they browse entries from a business directory and make a choice. It doesn’t matter what service they’re looking for: online business directories cover every imaginable industry and will get your business noticed by search engines – and future customers. Businesses that operate regionally such as garages, tax accountants, yoga studios, restaurants, as well as lawyers are taking advantage of local business listings to increase their business’ visibility. Adding your small business to a local directory is the perfect way to connect with customers who are searching for your products and services online. After only a brief search query, your business could appear as a Google local listing to a new customer, complete with directions on how to get to your door. Signing up with 1 1 List Local’s service is affordable will get you discovered online.
Because we work with a myriad of local directories at a time, your boutique or mom-and-pop shop will get noticed by potential customers hiding right under your nose. You can easily reach the millions of users who rely on local business listings online each month to find businesses like yours. 1 1 List Local adds your small business into 30 directories with our basic option, or 69 when you go pro. These are among the most powerful and wide-ranging directories online and will ensure that customers using search engines will find your entry. Joining a business directory is a simple and affordable way to advertise your business and expand your customer base. 1 1 List Local’s service guarantees higher visibility with search engines because of the number of links to your shop or practice that we upload across multiple business directories. Moreover, we save you time by creating simultaneous, immediate entries for your business in the best listing portals online. It only takes a few seconds for small businesses to be discovered in local business listings with 1 1 List Local.
Does 1 1 List Local work with the best business directories?
At 1 1 we take the visibility of your small business to heart. That’s why we cooperate with a slew of great online directories like Yellow Pages Online and SuperPages so you’ll be found by customers searching online for services in your area. Our List Local service doesn’t stop with a simple business directory listing, however – we also use popular rating portals such as Yelp and Foursquare to get people talking about what you do, plus social media platforms such as Facebook Places to connect them to your address. Increasing your visibility online within so many directories means search engines such as Google, Yahoo and Bing will get you found by the whole neighborhood and out-of-towners alike. In addition, your business’ reach will be lengthened when aggregator sites such as Factual add your NAP (Name Address Phone) to their databases. With Google Places and TomTom on your team, the neighbors won’t only be buzzing about your business – they’ll be coming to your address in droves. These dynamic platforms compliment your entries in popular local business listings. Only 1 1 has the all-star-team to put your small business on the map.
1 1 List Local guarantees high visibility for your business by adding your NAP to local business directory networks that get noticed by search engines right away. With our service, your entry will be clearly featured in local business listings to ensure you make a good first impression online. We even save you the hassle of creating individual entries on each website by providing a centralized entry service. With 1 1, customers will find your business no matter what your specialty. Best of all, with simultaneous entries in many online directories, customers will find you whether they’re surfing the Web at home or on a Smartphone outside. Using multiple listing and rating portals increases the likelihood that your business address will come up in a search. What’s more, your customers will have detailed online directions on how to reach you in seconds thanks to our navigation partners like Google Maps. 1 1 List Local’s service connects you to real life customers on the hunt for businesses like yours – guaranteed.
How can I join a business directory using 1 1?
Thanks to 1 1’s List Local service, adding entries for your business to our comprehensive network of online local business listings is easy as 1-2-3. You only have to write one entry yourself – then we’ll post it to every relevant category covered by our business directory partners. Simply place an order for our 1 1 List Local service on our site and then enter your business details when prompted. You can make your entry stand out by providing photographs or a video for your online profiles. Afterwards, we’re happy to take over – in no time at all, your business will be found on all the relevant listing portals. What’s more, we’ll keep your entries up-to-date at no extra charge. So all you have to do, if your telephone number or address changes, or if you’d like to advertise a new service, is log in to our system and update your details. In just a short time, all of your information in each business directory will be updated by us. At 1 1, we feel our listing service is worth the small investment, because our directory service is that much better than smaller, free business directories. Thanks to our range of top-notch partners, more customers will find your business than ever before.
How do automatic updates of my business directory work?
Local Internet marketing is a breeze with 1 1’s centralized, no-hassle approach to getting your business noticed in your neighborhood. When you sign up with 1 1 List Local, your business will have immediate entries in the most important online directories. This happens in the blink of an eye and with minimal effort from you: just fill in your business’ NAP (Name Address Phone) and any other important details and our powerful business directory service will handle the rest. You can make changes to your business directory entry and NAP at any time thanks to our intuitive website. Simply log in to your 1 1 account to update your business details at any time, or add some color to your entry with photos or a video. We’ll change the information in your entries, including contact details and descriptions of your goods and services, at no extra charge to you. Your future customers will find you easily in just seconds – no matter what changes your business undergoes. Luckily, you don’t have to worry about creating profiles for your business on every single online portal yourself; 1 1’s List Local service gets the job done immediately and in one swoop. Sign up to see an immediate improvement in your small business’ online visibility. Being found online is the key to getting customers in the door of your business today.
How can I get found on Google local listings (Google MyBusiness) using 1 1’s business directory service?
1 1’s List Local service works with Google local listings to ensure you’re found by customers on the hunt for businesses like yours. Harnessing the world’s most powerful search engine will increase your business’ visibility right away. Whether you run a website or not, adding your business to Google local listings with 1 1’s easy service will have customers lining up around the corner at your place of business. We cast a wide net to ensure the details and location of your small business are visible across multiple platforms, including other popular search engines such as Yahoo and Bing. Best of all, we’ll add your details to navigation systems like Google Maps so that your customers will know exactly how to find you. With 1 1, you can attract customers to your business who are browsing the Internet at home, or when they’re on the go with a mobile device. With 1 1’s List Local service working so closely with Google local listings, you won’t be overlooked by customers online – no matter how they go looking for you online.
Anchorage, AK Property Management and Commercial Real Estate Services #commercial #realty #for #sale
A Message from Graham Commercial:
Graham Commercial Real Estate Consultants, Inc. is Alaska’s #1 full-service commercial real estate company, offering world-class services throughout the Pacific Northwest.
Graham Commercial Real Estate Consultants, Inc. offers integrated, team-based real estate solutions based upon their extensive expertise in virtually all aspects of commercial real estate operations. Our clients range in size from local, self- made individual owners to multi-national institutional investors.
“Alaska’s #1 Resource for Commercial Real Estate”
Listing Commercial Real Estate in Anchorage, AK
When listing your commercial real estate in Anchorage, AK, it may seem like a simple task to go for sale or lease by owner. However, this is not the case. As an owner of commercial property, not only do you want to earn the highest value for the land and property, you also want a quick sale.
For this to happen, it is in your best interest to work with a professional listing agent who has vast experience in commercial sales.
Why Hire A Professional?
When you list your commercial property with a professional commercial broker, they can provide many services which include:
- Collecting rent and taxes if you choose to lease, rather than sell.
- Applying all resources efficiently to list the property and get it sold quickly.
- Properly negotiating on your behalf, to ensure the highest purchase price when your sale takes place.
- Working with you, as the property owner, to discuss listing, rental options, and the best methods of earning the highest value for the property.
When you hire a professional to list your commercial real estate in Anchorage, AK, they can take care of all the details for you. Your agent will do everything from listing the property to speaking with prospective buyers.
The consultants at Graham Commercial Real Estate Recognize that not every client fits into a cookie cutter and they ensure that every one of their client receives the level of involvement and communication they choose throughout the process of listing, selling or leasing your property.
If you own a property or multiple properties in Anchorage, the challenges of property management can be intimidating. Just because you have the funds on hand to invest in real estate does not mean that you have the expertise or even the time to manage your properties yourself.
Our company has a variety of property management packages that we can personalize to meet your individual needs, whether you need full property management or just a handful of our services. The following is just a list of the services we provide to existing clients.
Lease Administration When you have tenants give notice of moving out, we do the marketing to get new tenants interested in moving in, and we handle the process from beginning to end. We process the applications, and we determine whether or not tenants receive approval on the basis of criteria that you and we agree to. If tenants fall behind on rent, we undertake collections to help them return to current status.
On a monthly basis, we reconcile all of your accounts and provide the necessary reports to your clients promptly. When the tax year comes to an end, we file all of the paperwork so that you receive the proper 1099 documentation to file your tax return.
Budgeting and Capital Operations
If we are managing a large property with many units, there are going to be times when you need to make repairs and upgrades from a capital account. We have expertise in setting up and managing these types of accounts, including the preparation of annual budgets for operations and capital. This helps you focus on your core business while continuing to draw optimal profits from your real estate investments.
No matter how well built a property is, there are times when maintenance is simply a necessity. We manage the exterior and interior maintenance on your commercial real estate so that it retains and increases in value as time goes by. Our job is to keep your property in even better shape than it was when you turned the management process over to us.
If you are interested in hiring a company to provide some or all of your property management needs, give one of our consultants a call. Whether you are leasing office space or offering warehouses for sale in Anchorage, AK, our professional commercial agents can provide assistance throughout the entire process. We stand ready to serve you and your tenants with the very highest standards of professionalism so that all of your tenants remain satisfied. Content tenants are much more likely to renew their leases when they expire, giving your property the continuity it deserves.
We play hardball, negotiating the best possible price for you. Get a Free Consultation! INQUIRE
#us commercial property
U.S. Commercial Property Prices Continue to Rise
Commercial property prices showed another increase in May, according to the most recent report from ratings firm Moody s and research firm Real Capital Analytics (RCA).
The Moody s/RCA Commercial Property Price Indices (CPPI) all-property composite rose 1.3 percent during the month. For the three-month period between February and May, the all-property composite rose 4.5 percent.
Office properties in Central Business Districts (CBDs) experienced the most significant price increase in May, at 3.6 percent, and the greatest increase over a three-month period, at 12.1 percent. This was followed by prices on office properties overall, with a 2.0 percent increase in May, and prices on apartment buildings, with a 1.3 percent increase.
The smallest price jump during the month was experienced by suburban office buildings, at 0.2 percent. Industrial properties registered a 0.5 percent price increase and retail properties a 0.3 percent increase.
Prices for all core commercial properties rose by 1.2 percent and are now 5.4 percent above their previous market peak, according to Moody s. Prices on office buildings in CBDs are now a whopping 42 percent above their previous peak.
The Moody s/RCA CPPI is based on repeat sales taking place two calendar months prior to the publication of the report.
#how to search for commercial property
Assessor and Property Tax Records Resources
About Assessor and Property Tax Records
Every state has an office that handles the assessment of properties. The name of the office varies by state: Assessor – Auditor – County Clerk – Treasurer – Real Property Taxation and so on. Regardless of name, the responsibility remains the same – determining the value of personal and commercial property for taxation purposes. Property values change with market conditions as well as by physical changes to the property itself that affect the value of land and buildings thereon.
Many states offer online access to assessment records that may be searched by property address, property id number and sometimes by owner name. Results may include owner name, tax valuations, land characteristics and sales history. Some states include mapping applications whereby one may view online maps of the property and surrounding areas.
Find Assessor and Property Tax Records Resources by State
National and General Assessor and Property Tax Records Links
Search Fannie Mae properties for sale. Search by state, county, city, zip code, price, features or mls number.
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#us commercial property
The Real Deal New York
Green Street Advisors’ Commercial Property Price Index
Citing a continuing slowdown in both transaction volume and value appreciation, Green Street Advisors’ national index of U.S. commercial property values fell slightly in March to the tune of less than one-half percent, the real estate research and advisory firm said Wednesday.
As in previous reports, Green Street noted that capitalization rates “have flattened out over the past few months,” corresponding with property appreciation having “slowed materially from the pace of last year” and a related decline in transaction activity .
Though the current commercial real estate cycle has seen property values eclipse their pre-recession peak in 2007, according to Green Street, the slight decline in the national property index feeds into previous forecasts that the cycle may reach its conclusion in 2016 .
But despite indicators playing into that narrative, Green Street senior analyst Peter Rothemund said that property values at large “appear to be holding their ground” thanks to financial and securities markets that have stabilized.
“Though that seemed an unlikely proposition a month or two ago, the rally in the financial markets and the return of some normalcy to the [commercial mortgage-backed securities] market have helped property pricing,” Rothemund said.
Green Street’s Commercial Property Price Index remained up 8 percent year-on-year in March and 23 percent above its previous peak in August 2007.
#how to get commercial listings
How Residential Real Estate Agents Can Get More Listings
Residential real estate listing agents are always looking for ways to get more listings. A Google search will generate plenty of links with tips. That, along with browsing through real esate newsletters – RISMedia Daily e-News. RE Technology. Inman News and more – can be valuable resources.
In fact, the Inman site has this posted: “5 powerful slides for every listing presentation ,” which doesn’t necessarily tell you how to get the listing appointment, but how to give a great presentation.
We thought it might be helpful to share a few more links to help:
How I Get 2 to 5 Listings Every Month With This New Unusual Marketing Strategy This one makes a bold claim: “I now get 82% of my business without having to chase people or run ads, and there’s no reason why it can’t do the same thing for you in your local area. “
“I now get 82% of my business without having to chase people or run ads, and there’s no reason why it can’t do the same thing for you. “
Some of these links were found by simply typing this sentence into Google: “How can residential real estate agents get more listings”.
There are many, many valuable resources to help you succeed. Good luck as you continue to find ways to grow your business.
– By Spencer Steevensz
#one commercial real estate
Commercial Real Estate
About Commercial Real Estate Finance
Our Loan Program
At One Nevada Credit Union, we have designed our commercial real estate lending programs to provide our members with features and benefits that exceed those offered by the traditional lending institutions.
Our Service Area
One Nevada Credit Union has branches that are located in Las Vegas and Reno. This provides us with the opportunity to provide commercial real estate financing in both southern and northern Nevada.
Unlike traditional lenders, we originate, underwrite, process and service our loans for our own portfolio.
Our lending programs apply to the purchase of commercial real estate or the refinance of commercial property. Lending decisions are based on the understanding of each member s financial needs, the financial analysis of the collateral securing each loan and the financial strength of the guarantors.
Borrower and Guarantors
The borrowing entity may be an individual, a corporation, a limited liability company (LLC), a general partnership or a trust. We will require that the principals also provide their personal guarantee on the loan.
One Nevada Credit Union has designed its lending programs to provide financing for the following properties:
- Self Storage
- Flex Space
- Single Use
- Single Purpose
- Owner Occupied
- Investment Property
- Other Types (on a case by case basis)
A current financial statement and a minimum of two years of tax returns to include K1s on each borrower/guarantor. If the borrower is a business entity, please provide a copy of the articles of incorporation/partnership and operating agreement or copy of the trust agreement.
We will need a minimum of two years of income and expense statements, a current rent roll, copy of all leases and a copy of the fire insurance policy on the subject property.
Third Party Reports
The following third party reports will be required to complete the loan request, obtain loan approval and fund the loan. The borrower will pay for the following items:
- MAI Appraisal
- Phase I Environmental Report
- Escrow and Title
- UCC Search and Recording
- Flood Search/ Flood Insurance (if required)
- Credit Reports
**A and B class multi-family properties are preferred.
Loan Features Benefits
One Nevada Credit Union offers commercial real estate loans from $1∼5 million.
We offer both fixed and variable interest rates that are extremely competitive.
Loans are written with 1-year to 10-year maturities.
We offer loan amortization of 15-years to 30-years.
Loan to Value
The Credit Union will loan up to 80% of the appraised value or the purchase price, whichever is less.
Under certain circumstances, we may waive reserve accounts for taxes, insurance or maintenance contingencies as part of our loan requirements.
Our loans are assumable by a qualified buyer of the commercial property. To assume a loan, the applicant must qualify as a member of One Nevada Credit Union and meet our underwriting requirements.
When you re ready to sit down with an experienced local lender, call Michael Zufelt at (702) 948-5339 or email c a l one evada org