Burt M. Polson - Commercial Real Estate Broker

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Filtering by Tag: credit

Qualifying tenants - part 2

You are familiar with qualifying tenants and administering leases if you own investment real estate.  Whether your rental property is a house or a big box STNL (single-tenant net leased) property occupied by an Office Depot or Whole Foods you have qualified a tenant and executed a lease.

In part 1 of our focus of discussion was for a residential tenant, which is usually an individual or several individuals. Qualifying a tenant of this type is a simple process where you have the applicant complete an application, and as the landlord, you obtain credit, eviction, and criminal reports as well as contact their employer, past landlords and references.

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Qualifying tenants - part 1

Investment property owners must evaluate prospective tenants’ creditworthiness as an essential part of creating a solid return on their investment while mitigating any future potential issues.

It is essential to be thorough in evaluating and qualifying a prospective tenant for single-family rental homes. Many issues can develop from a tenant who may lack integrity in paying rent on time or even worse damage the property.

In commercial real estate investments, the value of the real estate is directly tied to the income derived, and therefore the tenant’s creditworthiness is essential. However, as in residential real estate much can go awry with the tenant’s use of the property.

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The Credit Crises Simplified

Understanding the credit crises can be difficult.  I stumbled across a very enlightening video that simply takes you through the credit market and what happened to lead to our current crises.  It is amazing to think one of the strongest forces that led to where we are today is the terrorists attacks on 9/11.  Watch the video below.

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U.S. commercial real estate braced for tougher 2008

"This credit crunch has created this sense of fear in the market place, and the big question for 2008 is: How big will the hurt be?"
"Although the fundamentals of commercial real estate remain relatively healthy, the problems in the residential lending market made all borrowing more expensive and drove highly leveraged buyers from the market."
"Respondents said they believed investment prospects for warehouse and distribution centers and apartments would be good, while that of retail properties would be fair."
Source: Reuters

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