Everyone knows the story of chicken little. The little chicken that thought the sky was falling on her, when she was hit on the head by a falling acorn. In today's economic climate, a lot of people are joining the band wagon, thinking the sky or building as fallen in on them.
True, time are tough, if you listen to the news for any length of time. We have new leadership in Washington and their actions do not seem to be making a difference except putting the nation under a greater burden of debt. Companies, small business owners, the workers in the plants and industries across the nation, as well as the home owners and renters are wanting debt relief.
The experts are predicting the start of the commercial down turn in a lot of metropolitan marketplaces. Some of the cities are already seeing it in the number of vacant retail spaces and big box stores, as major chains are closing their doors.
So is the sky falling or is this the time for doing your homework and finding the commercial deals that can be salvaged and help turn the economy around, buy creating jobs and cash flow.
The Wall Street boys have been waiting on the side lines for the last year or so waiting to see which way the wind was going to blow. They are still waiting. Some bankers are working with commercial notes that are in default and helping to get things sorted out. Some are not and as a result we have a foreclosures, climbing on the commercial side of real estate.
So if the commercial down turn accelerates, there is a good chance more and more property owners are going to need help. Who will be there to help them? Will you? Will a team of knowledgeable team of committed people be in place to help? Will the government help? Will the bankers help? Will investment groups help?
I know that there are people who scout for commercial properties on a regular bases. They are trained and work hard at finding the deals that make sense. They watch the market and keep an ear to the ground for possible deals everyday.
If you are motivated and committed to finding commercial deals. If you are interested in getting active in commercial property scouting, check out http://www.nacreps.org/
Till next time, enjoy life.
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1 comment:
Hey Ted,
I really like your blog. Your comments are right on. With the commercial RE market expected to tank in the next 2 years, this is a great time to be a property scout. I am a scout with nacreps and find it much easier to keep up with the market changes (as they relate to CRE)through their web site and the monday night live teleconferences and webinars. Keep up the good work. Danny B
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