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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: Page 1
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.

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