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RIAOC 10-26-2010 Rick Franzi
Today’s RIAOC meeting featured Rick Franzi as the guest speaker. Rick is the author of CRITICAL MASS: The 10 Explosive Powers of CEO PEER GROUPS. He spoke about Growth Strategies for small businesses. He broke it down into four (4) bullet points. #1: Be Relevant. #2: Be Authentic. #3: Be Agile. #4: Be Innovative. … Read entire article »
Filed under: Business Tips
RIOAC 10-18-10: JP Morgan Chase
Today was another of the Nick Lieberman interview series. The guest speaker was Scott Schweer of JP Morgan Chase bank. Schweer heads up a team that specializes in loans to Multi Family Investment Properties, mainly apartment complexes. More on Mr. Schweer in a bit, but there were a few interesting takeaways. Number 1, the financial qualifications of the borrower are taking a greater importance in the underwriting process. We’ve seen this across the board with banks for all types of acquisition loans (Businesses [SBA 7A], commercial properties [SBA 504], and Multi Family Investment Properties). Number 2, loan transactions are up significantly in 2010 compared to 2009. In particular, the stabilization of the rental market in most parts of California are one reason Schweer’s group is doing increased business in … Read entire article »
Filed under: SBA
Auto Salvage Yard For Sale
Just listed for sale recently is a prime Auto Salvage Yard business in the heart of Los Angeles. Located on a lot that is over 50,000 sq ft, the current owner has cleaned up the yard and refocused the business on a sweet spot of popular late model cars. Additionally, there are Three (3) Sublessees paying weekly rent that subsidize approximately 75% of the monthly rent on the property. This location has been established as a Salvage Yard for over (50) Fifty Years. Valid licenses for Glass, Dismantling, Repair and a Salvage Yard are in place for the Industry. Very hard to open or start a business like this given the space required and shortage of properly zoned space in Urban Southern California. Gross Sales and SDE (Adjusted Net) are projections … Read entire article »
Filed under: Business Opportunity For Sale
Gilmore Bank Mixer 10-14-10
Some interesting nuggets came from the Gilmore Bank Mixer held at their branch location at the Grove/Farmer’s Market in Los Angeles. Number one, for those of you who don’t know, Gilmore banks owns the Real Estate that the Grove is developed upon. It is on a long term land lease to Rick Caruso’s company. Number two, Jim Roby and Cyrus Greene, both Gilmore associates involved in commercial lending, noted that of the applicants that they are reviewing for SBA loans, they have noticed an increase in 2010 revenues and profits over 2009 figures. Of course, this doesn’t mean all companies are experiencing a better 2010 over 2009, just that struggling companies may not bother to even apply for a virtually guaranteed no. Here is the one nugget to really take … Read entire article »
Filed under: Business Tips, SBA
A Free Business? Almost, but not quite!
Beginning in a few days, we will be profiling Second Generation commercial spaces available. Second generation spaces are commercial spaces for lease that are built out but not currently occupied, they can be retail , office and industrial. For example, many restaurants have closed down, but have an intact kitchen and plumbing in place. These spaces obviously need some capital investment to be reopened, but these costs are going to be significantly less than opening a vanilla shell space from scratch. Also, assuming the space is intact, you likely won’t need any construction permits from the various local agencies, so you will be able to open your doors Many months before you could open vanilla shell space. This saves you Time and Money, which means you can focus on growing your … Read entire article »
Filed under: Uncategorized
El Monte Laundromat For Sale
Just Reduced Asking Price is $150,000 These figures vary by season and weather. Approximately 1,444 square feet in size. Approximately 9 years of lease left. There are: 19 toploaders 8 Speed Queen Frontloaders approximately 20 lbs in capacity. Older Machines 4 Speed Queen Frontloaders approximately 40 lbs in capacity. 22 Stack Double Pocket Stack Dryers Front loaders are Older machines. Stack Dryers are also Older machines. The owner is a full time plumber, and is very handy with repairing the machines. This laundromat can really use newer equipment. Neighborhood location with a built in client base, this customer base is the kind of customer base that needs an owner who can relate to the customers. Approximate Monthly Gross: $8,000 Approximate Monthly Net: $2,900 Figures vary by season. Owner is motivated, call to submit your offer. (323) 213-9193 … Read entire article »
Filed under: Business Opportunity For Sale
Free Upgrades for Investment Rental Properties
Today’s RIAOC meeting was a quick meeting, but one that came with a good reminder. We all have probably heard of rebates and other programs from the major utility companies to help with energy savings. Well, today’s RIAOC guest speaker was Rosemarie Malijen from the Telacu Agency. Her agency is one of many that works with major utility companies to reach out to people to offer free energy efficiency upgrades for residential dwellings, multi family properties included (such as duplexes and fourplexes). Very important to note this program offers free upgrades to rental properties that are tenant occupied and even primary residences. Here is a link from the Southern California Gas Company that will let you check on the eligibility of your primary residence and any investment rental properties. … Read entire article »
Filed under: Business Tips, Real Estate Tips
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