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Commercial Real Estate Pro Network

Commercial Real Estate Professionals who work with Investors, Buyers and Sellers of Commercial Real Estate. We discuss todays opportunities, problems & solutions in Commercial Real Estate.
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Now displaying: 2019
Nov 14, 2019

Mindset is the first thing Real Estate Investors have to get right to become successful.  

Rod Khlief is an experienced investor, author, podcast host and mentor.  He has owned over 2000 single family residents and hundreds of apartments.  He also lost millions in the crash and has since recovered. His ability to rebound is directly attributed to the power of mindset.  

Real Estate

Rod immigrated to the US from The Netherlands with his mother and brother.  They were poor, ate expired food, and wore clothes from thrift shops. To make ends meet, his mother babysat the neighbor kids.  Over time, she was able to save up enough money to purchase the house across the street for a rental.  

One day she explained to Rod that the home had doubled in value overnight.  That’s when Rod made the decision to get his brokers license as soon as he graduated high school.

Year one was slow, he made only $8,000. Year two, he made $10,000.  But by the end of year three, his income had grown to $100,000. How was this possible?

Mindset

How is it possible to grow your income 10x’s in one year?  Truly 80 to 90 percent of your success is anything is attributed to mindset.  

Rod focuses on mindset with his podcast, live events and his students.  The framework he uses to help others design their life requires that you take some time, an hour when you will be uninterrupted.  Take this time to focus on what you want your life to look like, design your life. If you want a private island, write it down. List the income you want.  What do you want to learn? Who do you want to help? Write it down. Do not limit your thoughts and don’t analyze.

Timeline

To make it possible, you have to attach your goal to a timeline.  Set a timeline for when you will have accomplished each goal. People overestimate how much we can accomplish in one year and underestimate how much we can accomplish in ten or twenty years.

Focus on the Goal

Pick your top goal and the two or three goals you want to accomplish in one year.  Under each, write a paragraph using emotionally charged words, why this is so important.  Next write what pain you will experience if you fail to reach your goal.  

Why is it important to attach your goal to pain if you fail to reach them?  Humans will work harder to avoid pain than reach pleasure. This will motivate you and get you out of your comfort zone.  Go for it! Live a life of no regrets!

Visualize 

Visualize your goal.  Immerse yourself in the goal.  Find a picture, go experience the goal, to inspire you for when you reach your goal.  Put the picture on your phone, screen saver, or in your wallet. You need a constant reminder of your goal.  

Professional athletes practice visualizing the event, and the success.  When you practice visualizing, the exercise prepares you similar to the physical practice prepares you.

Life Seminar 

What do you call it when you loose $50,000,000?  In the crash of 2008 Rod loss $50,000,000 in real estate.  Instead of crying, Rod considers this a seminar. This is because not only did he lose money, but he learned a valuable lesson.  What was the lesson?

Q: Why did his single family properties struggle while the multifamily did well during the crash? 

 

A: Logistics.  The logistics of multifamily make multifamily much more efficient to operate compared to single family houses spread out all over the city or cities.  

In an apartment complex, each unit has the same type of systems.  This allows your team the luxury of learning once and having multiple opportunities to repeat the lesson learned.  This saves time, allows you to buy in bulk and save money.  

In single family homes, each one is different.  Different plumbing fixtures, faucets, lighting, appliances, etc.  Each home is its own lesson, never to be repeated just like the last one.  Every lesson learned can be drawn from, but not replicated for efficiency. Each home has its unique fixtures and appliances, which prohibit purchasing in bulk.  Don’t forget that each home is located in a different location which requires travel, time and money.  

Summary: Multifamily allows for systems and you have less of a downside when considering vacancies.  They are easier to scale and purchase. Lenders look at the property’s cash flow to approve the loan rather than your balance sheet when buying single family homes. 

BIGGEST RISK 

Each week I ask my guest, “What is the Biggest Risk Real Estate Investors face?”  

BIGGEST RISK:  Irrational exuberance.  In today’s market, people are overpaying for properties that do not support the price.  You have to communicate with your team, and look under every rock. Double check your numbers.  Don’t overpay for a property.  

For more go to:

Website: rodkhlief.com

Podcast: Life-time cash flow

Nov 12, 2019

Darrin: Rod Khlief, what is the BIGGEST RISK?

Rod: [00:00:12]In my life? I will tell you my BIGGEST RISK as I see it, and I thought about this before we started this podcast. Is we are right now in the inner stage of the market called irrational exuberance. And I just told you, I've got, I don't know, 220, 230 coaching students. And my biggest risk is, is communicating to them, they damn well better not buy a property without running it through our system first and making sure that it's been stress tested and and and they're not taking people's money. And and so that's my biggest you know, and I talk to my team about all the time, because we we walk our students through their deals, we evaluate them, we respond and and tell them, you know what, rocks to look under and questions to ask. And some of them, you know, some people think they can do it without any help. And there's some mistakes being made right now. There's deals, you know, that we bid on. And and I'm. And we find out what they traded for. And I'm scratching my head thinking, how did they make those numbers work? It's just astounding to me that they got that they were able to get financing as well. And it's just reminiscent of 2006 and 2007 to me. And so that's I think that's my biggest risk is just protecting my students and making sure that those mistakes are eliminated or mitigated. Because, again, what I went through, it's it's really top of mind for me. But we do a pretty darn good job. So but it's just it's just that communication and making sure that that they're asking for help.

Nov 7, 2019

FEMA is the agency within the Department of Homeland Security that controls the National Flood Insurance Program.  

 

Scott Van Hoff is the Flood Insurance specialist with FEMA.   Real estate investors need to know, now more than ever, how to determine if a property is in a flood zone that will require flood insurance.  

FEMA

FEMA stands for Federal Emergency Management Agency and is responsible for the National Flood Insurance Program, NFIP.  Communities enroll in the FEMA which makes the NFIP available to its residents.

 

In exchange, the community agrees to actively manage new construction in the floodplain by not issuing building permits below the base flood elevation related to the 100 year floodplain.  This agreement makes insurance available to people in the floodplain who would not be able to purchase flood insurance, and keeps additional people from building in an area likely to flood. 

Flood Map Revisions 

FEMA is required to periodically update the flood zone maps based on priorities set by Congress.  The path of water changes due to natural causes such as erosion and development. And the mapping technology continues to improve, which provides for more accurate maps.  

 

When a map is revised, and the property zone changes, from flood insurance being not required to required, it may not be realized by the seller.  This scenario typically comes to light when a seller who has owned a property for many years and has either a private or no mortgage.   

 

Unfortunately, this happens all the time.  The seller does not know, and the real estate brokers do not ask, nor want to know.  A buyer may assume, by omission, that the sellers information is correct. Then the bank provides a closing estimate the day before funding.  On it you learn the requirement for Flood Insurance needed to close the loan.  

 

You have invested all this time, and money into the purchase.  Are you going to walk away from your earnest money? 

 

To protect yourself from this scenario, check the FEMA Flood Maps in the beginning of your due diligence.  It can save you a lot of time and money.  

 

Base Flood Elevation

The Base Flood Elevation is the required height above the one hundred floodplain needed to avoid the requirement for flood insurance.  If a property has a stream or body of water that runs through or adjacent to it, it is likely that the entire parcel will be designated within the flood zone.  

 

Removing Property From Flood Zone

In order to remove the structure on the parcel from flood zone, it will be necessary to prove that the structure is elevated above the base flood elevation.  FEMA provides a process to do this called, “Letter of Map Amendment”, LOMA. This is a process that requires an elevation certificate be produced by a surveyor and submitted to FEMA with application for LOMA.  Upon approval, FEMA will file and provide you with a Letter of Map Amendment. When you show this to your lender, the requirement for flood insurance will be dropped. 

 

If your property is truly in the flood zone, it is possible to lift your building and raise the first floor above the base flood elevation.   There are companies that specialize in this type of work and can raise the building and build a taller foundation then set your building upon the new foundation. 

Flood Insurance Zones

Flood insurance is required by any lender when lending on a property located in a flood zone with a greater than 1% chance of flooding.  The zones are rated as follows:

 

 

  • Zone “A” - The Special Hazard Flood Area 1% chance flood plain or the 100 year floodplain and are located near a river or stream.

 

  • Zone “V” -  V is for velocity and references the wave action for coastal water.  Coastal property can have either an “A” or “V” zone rating. 

 

  • Zone “X” is for the 500 year flood zone.  Properties in this zone are not considered to be at risk for flood and do not require flood insurance. 

 

Other zones: 

  • Zone D these zones have not been studied, and typically do not have any population nor structures in the area. 



Flood Insurance

Historically, Flood insurance was only available through the National Flood Insurance Program, NFIP.  Recently, the market of available insurance companies has grown to include private carriers. The private companies will likely only insure less hazardous zones, for less than the NFIP program.  

Declared Flood Disaster

When an area suffers wide area flooding, FEMA shows up to help the local residents and coordinate relief.  A common misconception is that FEMA hands out money to help you rebuild. FEMA will make available to those who suffer great loss, small grants from $2,000 to $4,000.  FEMA does not make low interest loans, but the Small Business Administration, SBA does, and works with FEMA to help you if you are in need.

 

BIGGEST RISK 

Each week I ask my guest, “What is the Biggest Risk Real Estate Investors face?”  

 

BIGGEST RISK: The rising sea level, especially in our coastal areas. From the perspective of a homeowner or somebody who's making a long term investment, you might be, you know, in this location, in this home or owning this property for a few decades. There certainly may maybe a likelihood, certainly an opportunity that there's going to be greatly increased risk in increased cost to the homeowner as a result of changing flood and changing risk conditions.

All too often I see that especially retired people living in a retirement home, working and literally be priced out of their homes because of the cost of covering or covering that risk, the cost of insurance. This is something it does concern me private, because we have so many people in that situation in these coastal areas. Coastal areas attract people, especially in their retirement years, it seems. And I'm concerned about that increasing risk in people's ability to adapt to that financially.

For more go to: 

Website: www.Floodsmart.gov

Maps: FEMA Map Service Center

Nov 5, 2019

Darrin: [00:00:08] Scott Van Hoff what is the BIGGEST RISK? [00:00:10][2.9]

Scott: [00:00:14] Well, the biggest risk. Well, what concerns me, looking looking forward when we're talking about the issue of flood insurance is this this changing of the sea level rise and the changing of the risk, especially in our coastal areas. This especially thinking from the perspective of a homeowner or somebody who's making a long term investment, you might be, you know, in this location, in this home or owning this property for a few decades. There certainly may maybe a likelihood, certainly an opportunity that there's going to be an greatly increased risk in increased cost to that homeowner as a result of changing flood and changing risk conditions. Certainly you see that at the time that FEMA updates a map. You often see people move from one zone to another zone because the boundary lines of change or the flood elevations have gone up and they've suddenly faced with a greatly increased cost of ownership from that from property. And and all too often I see that especially retired people living in a retirement home, working and literally be priced out of their homes because of the cost of covering or covering that risk, the cost of insurance. This is something it does concern me private, because we have so many people in that situation in these coastal areas. Coastal areas attract people, especially in their retirement years, it seems. And I'm concerned about that increasing risk in people's ability to adapt to that financially. And unless they think about it ahead of time and taken some steps to try to mitigate that risk and mitigate that potential for cost increase in the future with map changes and changes in flood risk.

Oct 31, 2019

Wealth Creation is all about mindset.  

Dovid Preil has worked in all different aspects of real estate, from mortgage brokering to multifamily syndication.  The through line he has found in all successful real estate investors is mindset.  

Importance of Mindset 

Mindset is based in knowledge and experience.  Without either, you are left with fear. The fear is a recognition of the risk, and risk is rooted in the probability of loss.  Fear of loss is powerful. It will keep you from the ability to take action. 

Risk 

That’s risky!  Investing in something you do not understand, is very risky.  Real Estate is not rocket science, but if you do not understand it and how you can lose, your likelihood of success is low.  When you don’t know what you are doing, and you follow the herd, you are waiting to lose. The solution is get educated.

Investor Mindset

The investor mindset is focused on how to invest and create wealth rather than spend an increase in income.  This is not limited only to people with a large salary. If your focus is to make more so you can spend more, your mindset is not focused on wealth creation, rather you are focused on consumption.  

Investors take the time to study a market so that they understand the market and the risk.  No asset is immune from loss, but real estate has historically been a great hedge against inflation.  Over time, it trends up, and unlike the stock market, it is not easy to push a button and sell. If you have a long enough runway, real estate will work out.

Wealth Creation

Wealth creation starts with a plan.  This plan has goals and with each goal accomplished, a new goal is set.  

Keys to Wealth Creation

  • Budget: When you live within your means and your budget, you create habits.  Habits become discipline. When you create a habit of saving, you can set goals, and save so that you have the ability to invest.  Once you have $10 to $20k, you can invest. But if you never have the savings, you will never have the resources needed to invest.
  • Focus: Learn one asset at a time.  There are an unlimited number of options to invest in; Stocks, Bonds, Currency, Real Estate, Precious Metals, etc.  To experience the upside of any market, you have to focus and learn the asset, and how you can make money without a high degree of risk.  Budget your time to learn the asset.  
  • Action: In order to gain experience, you have to take action.  Once you have learned the asset, built a plan that you can execute easily, you have to take action.  Without action, all of the efforts are for not.  

BIGGEST RISK 

Each week I ask my guest, “What is the Biggest Risk Real Estate Investors face?”  

BIGGEST RISK: Investing with the wrong people.  If you work with good honest people, you have the best chance of coming out ahead.

Technology is changing real estate.  Amazon has totally changed the retail real market.  3-D printing is changing construction. How will it change the cost and opportunity to build a building?  What about the goods that are currently manufactured, and warehoused waiting for you to order? Will the demand for warehouse space decrease due to the use of 3-D printing?

For more go to:

Linkedin: Dovid Preil

Website: www.ydlpinvestments.com

Email: dovid@ydlpinvestments.com

Oct 29, 2019

Darrin: [00:00:08] Dovid Preil, What is the BIGGEST RISK risk? [00:00:11][2.9]

Dovid: [00:00:11] In what, real estate? [00:00:14][2.8]

Darrin: [00:00:15] Real estate or investing, real estate investing? [00:00:18][2.4]

Dovid: [00:00:19] Real estate, again, this is real estate investing in real estate itself. I think the more interesting answer or practical answer is, is, is investing. And that's the BIGGEST RISK is going in with the wrong people. You know, anything can happen. And if you're working with good, honest people, you're the best chance of coming out ahead. I think the more interesting answer, though, is, is what what the biggest risks real estate is. That's a topic, which I find to be fascinating, because I think the answer is technology and all the advances we've had in technology and we're having. I think that that poses a very, very interesting longer term thesis to see how it plays out with real estate. It's fascinating to me. Just for example, you don't live very far. The fact that everyone thought as of a couple of years ago or even their people that I speak to today, they think that retail is going to die because of Amazon. That's just an example how where technology like completely upended an entire major sector and it's transformed it. And I think I have I have a lot of faith in retail. I think the numbers speak to that faith. And they they back it up. But it but it's changed. Retail had to really adjust and change how it operates because of that. And I'm seeing stuff coming down the pipeline technology and I'm very into technology by day. I work for a very advanced fintech company. Doing some pretty groundbreaking stuff. And I think that by training on a program are actually and I think technology is incredible what it's doing. And the advances that are being made in things like autonomous vehicles and 3D printing, both in terms of 3D printing, housing and 3D printing goods. You know, I'm going to go out I'm going to be a little bit futuristic here. But, you know, if you can 3D printer house next to a town that you want to live in for. To with all in with the land and everything, for two thirds the cost and existing units, what's that going to do to the cost, the value of real estate? And you can you know that that's that's I mean, it's not happening tomorrow. But those are the kind of questions that I ask myself or like what happens to warehousing when I can just buy a 3D printer and just print the product? You know, I'll just go. And that's kind of like this is super futuristic, but I just like go to a company and I press a button and like their specs, go to my printer, just prints out the device for me that I want to buy. You know, there's a lot of interesting things happening here. There are things that are going to be that they're going to be talking about in 10 years that don't even exist today. You know, it is changing the market. It is so interesting. [00:00:19][0.0]

[8.0]

Oct 24, 2019

Cost Segregation is a tool given by the tax code to real estate investors that improves cash flow instantly. 

Jodi Nielsen, National Senior Account Manager & David Deshotels, Executive Vice President of Cost Segregation Services Inc provide real estate investors with the how and why they can utilize the tax code to lower their taxes, save money, improve cash flow.  

FREE: TAX SAVINGS COST ANALYSIS 

Cost Segregation Study

Cost Segregation Study takes an engineering approach to determine what the components of the building are.  Then, it breaks the whole building into its components parts. These component parts are then categorized as personal property, and assigned a life expectancy of 5, 7 or 15 years.  

Depreciation

Depreciation is the accounting of a portion of the whole that has been used up, and is loss.  This loss reduces its value and is accounted for annually when filing income taxes. It is an expense against income.  Subtracting this depreciation expense from income reduces your taxable income.  

Straight line vs Accelerated 

Start with a value of $100,000

Pre Tax income of $20,000

 

Straight line:

27.5 years: $100,000 / 27.5 = $3,636 annual depreciation expense.

 

Taxable income: $20,000

Depreciation: - $3,636 

Taxable Income: $16,364

 

Accelerated Depreciation:

5 years: $100,000 / 5 = $20,000 annual depreciation expense.

 

Taxable income: $20,000

Depreciation: -$20,000

Taxable Income: $      0

This shorter timeline accelerates the depreciation and increases the depreciation expense, which lowers the Taxable Income and increases cash flow.  

The net result can be tax free income for the real estate investor.  This is especially true in the early years of ownership. This is one of the primary incentives for investors to hold real estate.  

Bonus Depreciation

Bonus Depreciation used to be available only for buyer or builder of a new property.  The new tax laws allow you an additional 100% depreciate any eligible property if it is new to you.  This adds to the value of a cost segregation study.   

Partial Asset Disposition

Partial asset disposition allows you to take into account and write off the loss of the unused property when you replace elements of your building.   For instance, if you buy a building and have to replace the carpet. If you expense the cost of the new carpet, you will get to record the expense of the new item, but will not get the benefit of the unused property that you tossed in the dumpster.  

Additionally, if you have not done a Cost Segregation study, you will miss out on the additional depreciation allowed in the 2017 tax act.  Bonus Depreciation provides an additional amount of depreciation for qualifying property in year one of purchase.  

Tax Payor Status

Your tax payor status will determine how much depreciation you are allowed to use.  

Real Estate Professional

For those investors who are full time investors and do not have a W2 job, they can utilize the depreciation against 100% of their gross income. 

Passive Real Estate Investor

If you are a passive investor, and have a W2 job, you are allowed to deduct up to the amount of passive income received.  If you have more deductions than you can take, the deductions will be carried forward for future use. This can be used to offset the taxable gain when you sell the property.

Misconceptions of Cost Segregation

There are some common misconceptions around cost segregation.  Following are a few:

Misconception: I can’t do a cost segregation study on my old building.  

FACTS: This is not true.  As long as the building is new to you, you are eligible to utilize cost segregation.

Misconception: My building is not worth enough to utilize cost segregation.

FACTS:  As long as your building is worth $150,000, cost segregation may be of benefit to you.

When Not to Use a Cost Segregation Study

A cost segregation study will not work for you if you are a non profit that does not pay taxes.  Additionally, if you are looking to flip a property in less than 3 years, it may not be worth doing a study.  

The recapture rate of Personal Property can be negated if planned for properly.  If you exchange into a new building, the Personal property recaptured, will be calculated at a higher rate than the permanent structure.  However, if you do a cost segregation study on the new property, you will have a new schedule of depreciation plus the bonus depreciation in year one.  

BIGGEST RISK 

Each week I ask my guest, “What is the Biggest Risk Real Estate Investors face?”  

BIGGEST RISK:  

Per Jodi:  The biggest risk is you're sitting basically if you own a building you definitely owe it to yourself op to look at. Because you're sitting on cash that you don't have to sell another widget. You don't have to make another widget. You don't have to find another contract. It's your money that you're just basically sitting on by owning a building that you could use now. And so why not at least look at the look at the numbers to see if it makes sense for you at this time instead of letting more time go by just straight lining. And then also with the partial asset disposition I would say it's very important to take advantage of it.

Per David:  We've had plenty of companies that have called us back years after having done their study. And they suffered catastrophic loss be it a tornado or fire or whatever it is and they won't say, do you guys still have those 500 pictures of my building that you took when you did the study? It's like sure we've got those and it's so we have they're building just completely documented from top to bottom one in the other. We'll come out and take hundreds and hundreds of pictures depending on the size of the property to completely document that. So if there is catastrophic loss it's it's a documentation to say hey here's what the building was. Here's all the furniture fixtures and so forth. And it's been very helpful to people in times of crisis.

For more go to:

Jodi Nielsen

Phone: 651-210-1921

Email: jodi.nielsen@costsegregationservices.com

David Deshotels

Email: david@costsegregationservices.com

Oct 22, 2019

Darrin:  Jodi Nielsen and David Deshotels, what do you see is the BIGGEST RISK? [00:00:15][6.9]

Jodi: [00:00:18] I'll start and I'll let David finish if he wants to add. I'd say the biggest risk is you're sitting basically if you own a building you definitely owe it to yourself op to look at. Because you're sitting on cash that you don't have to sell another widget. You don't have to make another widget. You don't have to find another contract. It's your money that you're just basically sitting on by owning a building that you could use now. And so why not at least look at the look at the numbers to see if it makes sense for you at this time instead of letting more time go by just straight lining. And then also with the partial asset disposition I would say it's very important to take advantage of it. Even if your business let's say is not even making money this year but you're doing a bunch of renovations. If you don't take advantage of it this year you're going to lose it. So if you're not I mean you're not going to take advantage of the opportunity of taking personal asset disposition. You will get the money and you won't lose it. So next year if your business is making more money or the year after whatever, it is going to be sitting there waiting for you. So you know, time is always you know time value money. That's kind of what we're about. And so the sooner you look at what makes sense for you as a business owner or building owner the better off you are. David, anything to add? . [00:01:43][85.1]

David: [00:01:43] Sure it's one of the advantages of having a cost segregation study that we don't usually talk about since we're. Since you're an insurance broker, Darrin. Is we've had plenty of companies that have called us back years after having done their study. And they suffered catastrophic loss be it a tornado or fire or whatever it is and they won't say, do you guys still have those 500 pictures of my building that you took when you did the study? It's like sure we've got those and it's so we have they're building just completely documented from top to bottom one in the other. We'll come out and take hundreds and hundreds of pictures depending on the size of the property to completely document that. So if there is catastrophic loss it's it's a documentation to say hey here's what the building was. Here's all the furniture fixtures and so forth. And it's been very helpful to people in times of crisis.

Oct 17, 2019

How to extend your building roof life is a value add topic for all real estate investors.

Building owners with composition shingle roofs, Dennis Ghormley with Roof Maxx explains how to extend your roof life and receive a 5 year transferable warranty. 

History of Composition Roof Shingles

The history of composition roof shingles begins with the raw materials.  The shingles are a petroleum based product. Originally, they were made from waste product of the oil refining process.  Over time, oil processing has become more efficient and so has reduced the amount of waste byproducts. That’s good for the environment and the oil business profits, but not for the composition roof shingles.

The improvement in oil refining lessened the quality of composition shingle, so much that the roofing manufacturers had to start with raw crude oil in order to create a finished product that would last as long as prior products.  

Unfortunately, the concentration of raw material used for roofing shingles is lessened when unable to start with the byproduct.  Because the new roofing raw product started with a pure raw material instead of a waste product, the cost of the material and the end product naturally increased.  

Cost of Capital Improvement

Capital improvements are just a part of owning property.  The substantial cost of capital improvements requires property owners either inject additional capital into the property or reduce cash flow distributions to pay for the improvements.  

How to Extend Your Building Roof Life

Roof Maxx is the manufacturer of the all natural, soy-based, environmentally safe product that is sprayed onto your composition roof.  The product penetrates your old shingles and gives them improved flexibility and the ability to keep your building’s roof free from leaks. 

Depending on the condition of the roof, age, pitch, etc, will depend on the potential outcome from a Roof Maxx treatment.  Ideally, a property owner treats their composition roof in the first 5-7 years. The expected roof life of a composition roof can be extended from 5 to 15 years depending on when the roof is first treated and the number of subsequent treatments.  The treatment comes with a 5 year transferable warranty.   

Cost to Extend Building Roof Life

The cost to extend the building roof life when applying a treatment of Roof Maxx is significantly less than the cost of a new roof.  Typical treatment cost between 10-15% of the cost of a new roof. The product is relatively new to the market, but has been very well received.

Roof Maxx will not save every roof, but for those that qualify, the 5 year transferable roof warranty will provide the buyer confidence that the roof will last at least 5 years from the date of application.  The cost savings of a treatment versus a roof replacement can buy the property owner time to budget for a replacement, or to transact the sale of the property.

Environmental Benefits of Extending Roof Life

The environmental cost of re roofing is not small.  By extending the roof life of your building, you are reducing the consumption of wood and petroleum products required to reroof a building.  Additionally, you are eliminating the disposal waste that is added to landfills when you reroof. Annually, it is estimated that over 10 million tons of roof material is kept out of landfills by the usage of Roof Maxx.

BIGGEST RISK 

Each week I ask my guest, “What is the Biggest Risk Real Estate Investors face?”  

BIGGEST RISK: The longer a roof is on the structure, the more risk that that property owner has. If we can keep the roof on the property longer, and mitigate the risk of leaks and other issues that come from the failing roof and also the risk to the environment where we can keep the roof waste out of landfills.  

For more go to:

https://www.roofrc.com/

dghormley@roofmaxx.com

(503-766-3729) and (360) 207-4572

 www.roofmaxx.com

Oct 15, 2019

Dennis Gormley what is the BIGGEST RISK? [00:00:11][0.0]

Well that's a great great question because. Basically from from my perspective from the from the Roof Max perspective is the longer a roof, is on the structure the more risk that that property owner has. And I'm going to answer actually in two different ways one from the property owner and then also from my perspective is. If we can keep the roof on the property longer, that mitigates the risk of leaks and other issues that come from the failing roof and also the risk to the environment where we can keep the roof waste out of landfills. That's a huge risk to our environment that we don't we keep on throwing stuff away. We're going to run out of. And from a from a Roof Max business perspective, you know, I really believe in this product the service adds add something that just it's never existed before. And the longer that the BIGGEST RISK I have is not being action oriented enough having mass massive action to get the word out to educate people then that just means that more people are running a risk of making decisions that you know they just don't have all the information. I'm all for having all the information possible. Eventually have to make a decision, but there's,. there's just that perspective of having information that helps make informed decision.

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