upland

Real Estate Withholdings! Do you know. TTG

WHEN DID WITHHOLDING START FOR CALIFORNIA RESIDENTS?

The withholding law applies to dispositions of California real estate by both residents and non-residents which close on and after January 1, 2003. Previously, withholding was only required of non-resident sellers.

Why was this withholding law enacted?

As part of attempting to balance the state budget, this withholding provision was added to legislation on the last day of the legislative session in 2002. It was estimated to accelerate collection of $285 million in additional state revenue.

Who is responsible for withholding?

The law requires the buyer (called the transferee) to withhold from what would otherwise be paid to the seller.

Land Contract- What is it? -TTG

A land contract is an installment contract in which the seller finances the purchase. The seller maintains the deed until satisfaction. It is comparable to owner financing. The buyer gives the seller a down payment and the seller acts as a bank; financing the balance of the purchase or sale price. The interest rate is negotiated by the parties.

The interest rate is negotiated and set by the parties involved. Land contracts can be created on or used on most types of property such as residential, land only, mobile home with land, commercial, mixed use.

Inland Empire San Gabriel Valley Commercial Real Estate- State of Market

Multi-Family Panel

Kevin Breve-Regional Marcus & Millichap Regional Manager
Alexander Garcia Jr Marcus Millichap SVP
Robert Hallock- SVP- Acquistions Bridge Investments LLC
Mark Grace- VP Capital Markets- Walker & Dunlap

10,000 a day turning 21 or to a baby Boomer.
Inland Empire- Top 10 in forecasted demand in US. Highest Growth opportunities- (multi-family)
Buy in IE for 5% Cap Rate or better.. 9 (Favorable)
Huge growth in IE, with apartment communities with all the amenities. (exercise, pools, halls and more. Low maintenance)
Velocity now vs Past cycles- Still quite a bit of opportunity to grow. Current numbers in markets are strong!
Thinking to loan opportunities and risks East of the 15 freeway years ago, now the possibilities seems wide open for growth!
IE Ranked in top 10 in Job Growth!
Baby boomers top prospects moving to Multi-Family!
Rents are about $100 more per month and Interest Rates are significantly lower.. Apartments are profitable.
Growth Opportunities are great and margins are in the IE. It will continue to drive growth in!

Panelist believes growth is on the horizon for 3-5 years..

Keynote:
Greg Devereaux- SB County County Administrative Officer

Growth Opportunities and Commitments
Prado Dam Area- Large Plans and investments
Foothill Developments- Rancho/ Upland Communities
Chino Airport Growth and Opportunities.
Huge Growth and Commitment to Downtown San Bernardino

Keynote:
Joseph Brady- Branco Companies

Mining drives big jobs, and opportunity and mining is a huge driver in the High Desert. Logistics, and opportunity is still in marketplace in High Desert Communities.

Adelanto- Marijuana Cultivation Capital of the County

Hesperia Airport-
Logistics Opportunities- Buildings, and opportunities

BNSF- Looking to build large railroad switching yard in the High Desert. This will be able to help feed trains to as long as 3 miles long. Huge add to logistics divisions.

I-15 corridor, Estimated to be complete shortly, and is relief to the largest bottleneck on the West Coast of goods from the port to the rest of the US. Congestion relief is expected to help bring growth and around the region!

High Desert in need of High Paying jobs. Looking to incentivize business to move to the HD!

Office Panel:
John Bibeau- Cushman Wakefield
Michael G Rademaker- MGR
David Mudge- Lee & Associates

Market is improving, show the space and you will fill it.
Most space in IE are filling up from diverse markets. Niche products like that which MGR owns and manages are 97% full.

Largest tenants, Healthcare, Schools,
Office vacancies. Low was at 27% Available, Current rates are about 15%, improvement yet still room to grow.

Construction is expensive and most growth seems to currently be in building acquisition, and rehab. Spec development is a challenge due to regulation, and costs. Rates need to be $2.35- $2.50 to justify constructing new buildings

Leasing Cycle: last three years feeling of false starts. 1st qtr absorption showing great strength this year. If we can hold for 12 months, growth will be exponential. Popular belief is we are 3/4 to a complete recovery in the commercial markets.

Large Opportunity Markets currently, San Bernardino/ High Desert

Ontario Airport impact will be tremendous, and business and industry demands easy access to air travel for corporate reasons. Industry is dependent around efficiency. Autonomy at the airport and airfares will be a huge driver for the IE looking forward!

Non-Financial Trends in IE: Tightening on the spaces available. Change in how workplaces are setup, and designs on workspace.
“Creative Office Space“
Attracting millennials and the up coming workforces from the beach communities..
Regus “Esque” Workspaces continue to drive trends in commercial space..
Shared Desk Concept. Smaller offices are the way of future?

Where are we on the investment cycle? Consensus: Early on
Expectation: Ceiling looking towards $2.35-.50 a foot.. Current rents about $2.00..

Loving what we do! TTG Passion & Purpose!

Check out this quick overview of the team at one of our trainings. This one is on BK and the real estate transaction from a Legal & Title perspective!

In differentiating ourselves from our competition we focus on our industry and creating a dream team effort to come together and close transactions together!

We are highly involved in our community and we believe in leadership by example!

Leadership in Professional Associations
Leaders in Non-Profits
Volunteer in our Schools
Involved in our churches

WE are Faith based and held to His standards.

Put us to the test!

Rent Vs Buy- Webinar Role Play: Ryan J Orr

Have you been in the scenario where you have had a question, and struggled defining the value of home ownership as it relates to renting?

How do you explain it? Do you miss some of the key points?

How do you define
- Appreciation
- Mortgage interest
Gather info
- Phone
- Email

Relaunching the webinar series focusing on ONE thing, one role play in a real scenario, and how to leverage regular conversations to grow your business. Whether, you have some ideas or just want to sharpen the saw, join us for this 20ish min webinar to see how to leverage this conversation! We will be doing webinars 2x per month..

This will be a quick and easy Webinar walking you seemlessly through this conversation!

https://events.r20.constantcontact.com/register/eventReg?oeidk=a07ecfddxul020a95c8&oseq&c&ch

Navigating through BK in the Real Estate Transaction- Ryan J Orr

Navigating through BK in the Real Estate Transaction

Guest Speakers
Stephen Cho- Bankruptcy Attorney
Tom Bernath- Chief Underwriter -Ticor Title

In an ongoing effort to provide excellent education to help our clients grow, we are continuing our training series on April 19th! We are noticing quite a few transaction were BK’s are becoming speed bumps. In our class we hope to address concerns, the different types of bk’s, how to find resolution, and how to get ahead of challenges before they become deal breakers!

Let’s work together to find proactive solutions to common challenges in the Real Estate Transaction!

#TTG is your strategic business partner for all things real estate related!

click on the link below to register or RSVP.

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I can’t make it

Should you have any questions, please feel free to reach out to me or any of our teammates!

We look forward to having you at our event!