WELCOME: TO A. COLETTE HARRIS PROPERTIES, LLC

Real Estate Brokerage & Property Management Blog

Here you will find the latest real estate endeavor stuff I engage in on a daily basis.

Monday, September 10, 2012

New Hampshire Relocation

Hi Prospects & Global Fans!

I just wanted to share a quick story about my first relocation client, and what I gained from the experience. Recently I was advertising my rental property on http://www.har.com/acoletteharrisprpts and a prospect contacted me on the rental listing. I did my normal prospect phone screening, and as the conversation developed the prospects informed me they were moving from New Hampshire, because the husband got relocated to Texas for a job, and needed a place asap, and saw my rental property online which was 5 minutes from his job (remember key to real estate is Location/Location/Location), and they wanted to see it. So I showed them the property, and they both liked it, and wanted to immediately move in the place. I told them great, and would get them the TAR lease asap. So as I was typing the lease in ZipForms I discovered wow this is my first out of state prospect that will sign a lease with me, that will now be my tenant, and they will need to know everything about Texas! All in all the tenant screening I had to do to qualify them was the same except I had to contact "New Hampshire" contacts, and as I was actually doing all that I was gaining "Relocation Experience", and just realized it after the light bulb went off in my head. My new tenants from "New Hampshire" did inform me after their lease is up they may want to purchase a home, and will look forward for me to assist them, and I told them thank you for the continued futuristic business relationship. So fans the moral is, you never know what may come your way when you run into a business endeaver, because what ever the outcome is, if you do it right the first time, the continued success will continue there after. As for me I was able to gain:

1. Relocation Experience
2. New Tenants
3. Futuristic Home Buyers

ok will give another story soon, bye,

April

Thursday, July 28, 2011

Apartment Lead "Jewel"




Hi Prospects & Friends,


About a few months ago I started typing up apartment addresses into my Microsoft Works database, so I would be able to mail to these prospects with my personalized postcards I created in Microsoft Publisher. I had some leads call me from my postcards I had created I sent by mail, and ended up getting a "Solid Lead". The "Solid Lead" was someone who had turned in her apartment notice and was looking for another apartment. I assisted her and found her a cheaper apartment, and she is moving in 8/1/2011. The apartment complex is paying me 100% commission and I will get $759.00 for referring her to them. So I was thinking after analyzing all this I sent out 90 apartment postcards and got some leads, and this 1 ended up being a "Solid Lead" which then turned into a forever "Client" for the future for me. I told my apartment lead now a client, congratulations on your new apartment, and if you ever decide to move again please contact me. I also told her she will definitely receive contact from me yearly, because she is now a "Client" of mine, and that I really appreciate her for hiring me to locate her another place. I call this lead a "Apartment Lead-"Jewel", because I sent out 90 apartment postcards by mail, and did get some calls, but this one was a "Solid Lead" because she had turned in her "Apartment Notice", and had to find another apartment quite "Quickly". After seeing the results from my first batch of apartment postcards I sent out, I'm now sending out 100/mth, it's only costing me $29/mth in stamps, and fits into my monthly marketing budget. So as I look back at all this all the typing addresses late at night I did (I now have 2,700 apartment addresses I've typed), and running to office depot to get avery labels on sale has paid off. As I'm sending out the 100/mth apartment postcards, I'm now coming up with another idea to add to it. I will market 100 postcards I will create in Microsoft Publisher to an elite subdivision I found that's doing quite well in this "Great Recession", if I get a lead out of doing this subdivision like I did with the apartment marketing, I will be "stunned", because the 100 homes I will market start at $500,000+ and generating a prospect in this category will at least earn me $15,000+ in a commission check. My goal for my small business is to have a great database of forever "Clients", and I know to get this I have to market, market, market, and keep doing it "forever". Ok have to go, and remember hard work will always and forever pay off in "The End".




April




P.S. The attached tote in this post is my popular "Smart Renter Tote", and you can get them at http://tinyurl.com/3boqn56 I sent 1 of these as a complimentary gift to my client, when the deal closed.

Friday, May 6, 2011

Home Converted To Commercial Office “Non Conforming” Analysis




Hi Prospects & Friends,




I wanted to share a real estate endeavor that I'm in the process of doing in the future, and it all started off with me and a "Leasing Agent", so I will discuss my idea. Ok a few days ago I was analyzing office buildings for lease, because I was thinking about locating my office to a high "Traffic" location surrounded by prime buildings. So I decided to search my area with lease rates less than $14/sq.ft./year, and I came across 2 properties that ended up fitting my criteria. I contacted the leasing agent who was advertising the office space, and mentioned to her I was a licensed real estate broker who would be representing myself in the lease contract, if I decided to sign the lease. So she met me on Wednesday (5/4/2011) and showed me the suite I really liked. I new I liked the location because the office building was facing a high "Traffic" street, and sits right across the street from Home Depot, as well is 5 minutes from a subdivision where the homes start at $1M+. So I told her I "Love It", and could I sign a 3 year lease, she said yes, but asked me don't you want to think about this some more? I told her no not really, but she insisted on showing me another building with office suites right across the street that were more "Luxury & Exquisite", so I told her fine, and met her at the other building. When we entered the building it looked "ghostly" because there was no one walking around, and I told her so where is everyone? She mentioned to me the building was bought out of "Foreclosure" and the owner is knocking out walls and creating individual "Executive Suites", and leasing them out to "Small Business Owners" who are just starting off, and don't have employees yet, and who are growing like yourself. So I told her "How Interesting", and how does all this work, she said each tenant will get an "Executive Suite" which is a 1 room office, and then share the conference room, the kitchen, the receptionist area, and the waiting area to sit their clients. So I looked around the office, and decided all the executive stuff wasn't for me, and told her thanks for showing me this building, because you just gave me an even "better idea" to pursue an office. I told her I wasn't interested in the other building either I loved, and thanks for all the help.


***I know that after the tour the leasing agent gave me with the "Executive Suites" it was meant for me to see this building because it gave me and idea to add to my other idea I had already had in mine about 3 years ago****


Ok I really want a "Multi-Story Office" building, because I've always wanted to lease out office space, but these buildings are very costly and because I want a prime location, these buildings can start at $1M+, so since I don't have that kind of money, I've always just put this idea to the side till the leasing agent gave me an idea. I've come across to situations that have caught my attention:



1. Homeowners buying homes in unrestricted areas, and deciding to build their businesses on the same lot.

2. Builders coming in areas where the subdivisions are not deed restricted and building near these homes subdivisions that are deed restricted, and causing a "Build Out" to occur, and "Revitalization" to develop at the same time, this is very challenging and complex to understand, but this is very "Rewarding" if you spot this trend and act on it correct. I will explain how this occurs now so see in detail below:


I came across this home that was built as a home but converted to a commercial office it has:




















Gross Sqft- 7,952

Lot Size- 36,758

Stories- 3

Parking Spaces- 33

Office Suites- 11

Breakrooms- 2

Bathrooms- 5

Conference Room- 1


This subdivision where this home is located was an "Unrestricted" subdivision, but because the builder "Built Out" his subdivision, and caused the buyers to want more from him and this subdivision sits down the street, and has older homes, the "Revitalization" has developed and the demand for the lots where this home is located are high, as well as the subdivision. This has caused some of the owners in this subdivision to sell their homes, because of the builder building the $1M+ homes on 1 acre lots down the street, the market value of the lots sitting in this subdivision has gone up, due to buyers wanting newer homes, and willing to pay a premium to tare down these older homes, to get these lots "Revitalization". Therefore this has allowed the builder to proceed with slowly turning this "Unrestricted" subdivision into a "Deed Restricted" subdivision. Here is where it gets tricky with this home, and so far each new owner has left it in it's "Non-Conforming" use. The original owner bought this home in an unrestricted subdivision, and decided 2 decades ago to convert it from a home and change it to a commercial office, nothing was violated on the owners part because, there were no deed restrictions at the time. Now that the builder has slowly built newer homes on some of these lots, and changed to a "Deed Restricted" subdivision, all the older homes that are not being used as "Residential" are categorized as "Non-Conforming" use, which means this home and any other home located in this subdivision that were converted to a commercial office has to stay that way because it isn't conforming with the new deed restricted usage, which is residential only. So if the owner decides to sell this building, and the new owner converts it back to a home or tears it down and builds a new home the deed restrictions come in play and this home will never be able to be a commercial office ever again, as well as no one will be able to build a commercial office on this lot, the new home will strictly be labeled as residential with conforming use. So all older homes in this subdivision that have been converted to strictly commercial are "Grandfathered" till someone changes the usage back to residential, which then will destroy the ability to convert back to a commercial office permanently. So here is where my idea comes into play:


I plan to monitor this subdivision, and any others I locate like this, and if I find a home that has been converted to strictly commercial usage like this one, then I will:


1. Keep it in it's "Non Conforming" use which would be commercial office.

2. Reap the benefits of the builders creating a "Build Out" and causing "Revitalization" to develop at the same time (you have to know the area is in demand from the beginning to be able to spot this very quickly).

3. Take the leasing agent's idea of "Executive Suites" and apply it. If I had this building I would rent the 11 rooms that were turned into office suites and rent them to businesses, and let them share the conference room, bathrooms, and breakrooms.

4. Since the lots are in demand in this subdivision, and I know these lots are on 1 acre, and the builder is splitting the lots into .5 acres I would wait till the price climbed high enough to where I could earn enough money to get the "Multi-Story Office" I really want.

5. Then finally after I'm ready to sell, bring the tenants with me to the new "Multi-Story Office", from the sale of this "Grandfathered Non-Conforming Home Converted To Commercial Office", that was a hidden "Jewel".


So after I look back at the trip with the leasing agent I had on Wednesday 5/4/2011, it's good I didn't sign that 3 year lease, because for some reason I sense my "Destiny" wants me to go this more challenging route I just explained in this article. Ok have to go, will write something else soon, bye!




April




PS- Attached is a picture of my "Smart Renter" tote I sell over at my Z store. You can view it from the right side of my blog at bottom, which will lead you directly to the store.












Wednesday, December 22, 2010

Rural Vacant Land "Endeavor Analysis"


Hi Prospects & Friends,

I wanted to share a quick endeavor analysis I just came across while looking in the listing database for vacant land for sale. Listed below are current stats available:



Location- Texas
Listing Price- $46,400
List Date- 11/9/2010
DOM- 43 days (as of today)
Total Acres- 29
Land Use- Other
Water/Sewer- None
Road Surface- Dirt
Defects- None
Special conditions- None

So as I came across this vacant land tract in my search perimeters, I noticed immediately:

Total acres- 29
Land use- Other
Price- $46,400
+ factor- neighborhood near area of this 29 acres has new construction homes

So the seller is wanting $1,600/acre ($46,400/29) and to me this is an interesting price, I'm stunned. I know because the property is rural vacant land (not much population) this is equated into the price, which is very impressive to me still. So part of my "Endeavor Analysis" is I will look into more advanced stats with this property not given in the listing database. I want to know if the mineral rights are already retained, see a survey to identify any easements/encroachments/total number of acres recorded, if unrestricted or restricted, limit to subdivide, population, nearby shops/malls/churches and etc. I'm looking into diversifying my real estate and rural vacant land is where I want to endeavor next, because once vacant tracts like this come for sale it doesn't matter if their is no water/sewer or utilities or paved roads, the developer building around or near a rural vacant tract will drive up "demand" and this will eventually cause your land to be in demand, because "built out" will occur and then buyers will come your way and make an offer. My endeavor is to look into this vacant rural tract if it doesn't sell too quickly, because I would love to hold it till the developer "builds out" neighborhood close to this tract and then slowly subdivide the 29 acres when I feel like selling off. Who knows a power plant may decide to want to make an offer, and that would be the icing on my endeavor if happens, because now you got a developer wanting some or all of 29 acres as well as the power plant buyer! I've come to the analytical conclusion after carefully researching vacant land, the further you go out the land becomes cheaper, because the "others" (developers, builders, buyers, farmers, & etc) haven't found it yet, so therefore the "demand" for the price hasn't escalated yet. Trick is to get their before they do, and then enjoy your "demand" of price/acre go up. I'm even curious what are the sales prices of the new homes the builder is developing going for near this tract, because I would want to apply an advanced stat and dissect the new home sales price by subtracting out the cost of improvement (home) from the vacant land tract price, and see what is the cost of value of the vacant land as separate from the home. So I will be also analyzing those builder model sheets once I get my hands on them. Ok have to go, have a "Merry Christmas & Happy New Year" and much 2011+ success to you all!


April

My College + Small Business Equation



Hi Prospects & Friends,

Just yesterday I was thinking wow this semester and year went by quick, and I'm going to have to prepare for next semester, as well as prep for my small business too! So I came up with the idea next semester for January 2011 when I take my classes I will package my "Journal Design- F" along with my "Quote Tote Design- 5" the pictures are above in this post. February-May 2011 I'm not sure what next package I will decide on, since I have a variety to choose from! The journal will work great when I'm jotting down my tasks & quick notes while in class, and my tote will work great when I leave class & head to my small business carrying my daily business stuff, like camera, contracts, batteries, measure tape & etc. So I choose the package set this way because the colors coordinate magically! If your like me & juggle college and business or are even a multi-tasker, head over to my z and c store brands, you can access them on right side of my blog under "April's Business Websites" thanks!



April

Wednesday, November 17, 2010

Apartment Locating- "Project"


Hi Prospects & Friends,

I wanted to share my apartment project I'm currently working on right now that's due by 12/31/2010. Recently I had a prospect call me from one of my apartment flyer's she had received. She told me she wanted me to assist her in locating another apartment for her and her son. I immediately requested her to go ahead and give me the specifications on what she was actually wanting and she said:

1. 2Br/2Ba
2. Gated Community
3. W/D Connections
4. Zoned to her son's high school
5. Try not to go over too much from current rent of $760
6. Close to apartment currently living in

After she told me her specifications I told her I would immediately start work on the apartment project (job) and would get this all done in a timely manner. As I started to work on the apartment project everything was going great until I came across number 4 (zoned to her son's high school). I figure I could just cold call the apartment complexes that came available in my search that fit her specifications, by asking them what high school was zoned to their apartments, but in the end I found that very time consuming after 1 hour of calling. Since I knew the high school her son was attending, I decided to cut out the middlemen "apartment complexes" and went directly to the high school. I googled online the number and called the high school direct. I then said:

"Hi, I'm April with A. Colette Harris Properties, LLC and I'm trying to get some information"

The receptionist then said how can I help you? I told her I have a client that wants her son to continue to attend their high school, and that could she give me a list of zoned apartments? She told me she doesn't handle that information, and that would be the "Registers Office". I was then transferred to the registers office, and told them the samething, and they were very nice and actually sent me a list of all the zoned areas to their high school, it came out to about 50. This list made my "apartment project" go more efficiently, because I went to the school "direct" for their zoned list of apartment complexes, instead of going to the apartment complex and asking them what high school was their complex zoned too? So as of now I'm ahead of my 12/31/10 deadline, and should have this apartment project complete before then, thanks to my ability to rethink how to handle number 4. Once I'm finish and my client moves in, then the apartment complex will pay me for locating her to them. Ok I will soon share another endeavor I face/approach in my small business.

Thanks,

April
PS- I've attached a picture of 1 0f my aprons & 1 of my posters I sell over at the z-store. You can see more of them as well as those by accessing the z-store on right side of my blog.

Tuesday, October 12, 2010

Facing Foreclosure Now What?














Hi Prospects & Friends,


My second book was just published today, and is ready for you all to prosper from it. My book is called "Facing Foreclosure Now What" and is available in e-book as well as hard copy see the links over to right side of my blog. The book explains what to do when you've missed 1+ mortgage payments, and includes 1 case study, and a foreclosure workout checklist. Hope the book offers you all some foundation to follow, and I will continue to deliver you all my knowledge futuristically, thanks much!
*****************
April
Real Estate Broker

Thursday, September 16, 2010

Friendly Real Estate Note


Hi Prospects & Friends,

I just wanted you all to know I finished up the SFR (Short Sale & Foreclosure) class and I've added the SFR designation to my portfolio of real estate skills. The class taught me alot about short sales, reo's and foreclosures and I would like to continue to offer my gained knowledge from this course to any of you who may know someone in need of:

1. Short Sale assistance
2. Foreclosure assistance
3. REO assistance

Please forward them to my websites http://www.har.com/acoletteharrisprpts and http://www.har.com/aharris thanks much!

April
Real Estate broker


P.S. I've attached a picture of some of my posters I sell over at my z store, and if you like them you may see more of them over at the z store. You can access them over at the z store from the right side of my blog at bottom.