My next Commercial Real Estate Certificate Class @ The New York Real Estate Institute will be Friday April 13th, Saturday April 14th & Sunday April 15th at 9:30AM. each day:
A 19.5 hour class in commercial real estate is approved by the
NY Department of State for real estate continuing education credits.
For more information, see: http://www.nyrei.com/courses/commercial-real-estate-certificate.htm
Registration is directly through the school - www.nyrei.com
This class will present a comprehensive survey and examination of the field of commercial real estate, including commercial leasing, investment building purchases and sales, and case studies of commercial transactions; as well as an examination of the current state of the commercial real estate market in New York and what we can expect for coming year and beyond.
We will present a more in-depth review of commercial real estate in response to the demand for more material than we have been able to cover in the popular “Introduction to Commercial Real Estate” class, currently offered at the NYREI, as well as for those who just want to learn more about the interesting and potentially profitable world of commercial real estate transactions.
Upon completion of this class, you will receive a Certificate in Commercial Real Estate from the New York Real Estate Institute.
Course Information:
Among the many topics, this class will include:
Commercial Leasing
Basic types and terminology of commercial transactions.
Differences between commercial and residential real estate practices.
Types of commercial leases
Fair Housing laws and how they apply in commercial real estate
Leasing vs. Subleasing – definitions and the advantages and disadvantages of each
Issues regarding “location” and client needs
Working with commercial tenants & identifying their “real” needs
The features of commercial space – building features - hours of operation, elevators, availability of water, storage, traffic, etc.
Discussion of various tenants with special needs
Classes of Commercial Buildings – A, B, C & F buildings
How commercial space is measured, “loss factors” – rentable vs. useable space.
Additional costs – “Pass throughs” - electric, taxes & utilities
Commercial rent escalations & lease renewals
The process of finding & researching commercial space
Computerized Research Tools & How to Use Them – Property Shark, OLR, Loopnet & CoStar, Craigslist, etc.
The anatomy of a business leasing transaction
Commercial leasing case studies
Preparing, submitting & negotiating a commercial offer
Financial information/ Landlord location visits
Commissions & Getting Paid
The Lehman Scale
Other techniques and trends in computing commissions
Review of commission agreements & broker protection
Building Investment Sales & Purchases
Basic overview of sales & purchases
Types of Investment Properties
Reasons people buy & sell buildings
Flip transaction
The 1031 Exchange
Knowing your buyer & seller – buy & sell vs. hold
Issues in property location & buying strategies
Finding Buildings for Sale
Review of building Set-ups & basic information presented and weeding through Seller provided information & set-ups
Viewing & Inspection Issues
Financial Analyses – Measurement of Value & Financial Performance
Computation of accurate revenues, expenses & net income
Capitalization rates, gross rent multipliers
Debt service coverage, break even ratios, “cash-on cash”
Comparables – neighborhood & building analysis
Mortgage assumability and financial considerations
Distressed properties/Foreclosed properties
A purchase or sale offering & what it contains
“Due Diligence” and structural issues
Researching & dealing with building violations – DOB & ECB Violations
NYC building inspections
The broker’s role in closing the transaction
Post-closing Exit Strategies Case studies & analyses
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