Posted in Real Estate: Buy, Sell, Lease

How to Transition to a Business-Friendly Home

Guest Post by Marcus Lansky

Every business needs a base of operations and, if the kitchen table isn’t fit for purpose, it may be worth considering a move altogether. The professionals at Coleman Tanner Realty are determined to help you find a property suitable for both living and working. But, before you reach out, here are some important questions you should first ask yourself.

What Are Your Home Office Requirements?

When it comes to setting up a home office, there are a few key requirements – the most obvious of these is space. It can be a good idea to calculate how much square footage your business requires.

For entrepreneurs that are dealing with physical products, this may be more than someone who is entirely digitally based. Space is also a consideration when trying to partition your workplace from family areas – using floor plans, we can gauge your requirements and work out your specifications precisely.

On the other hand, if you’re working digitally you’ll have an increased reliance on high-speed internet access. The Federal Communication Commission (FCC) broadband deployment map can help you to check internet availability and compare locations. The FCC’s recent progress report found that 6% of Americans still do not have internet access so be sure to check any potential locations for dark spots.

Where and When To Move?

Location is doubly-important for someone looking to secure a home office – you may want to move into or close to a thriving business ecosystem. A study by the EPA found that central business districts tend to generate 20 more patents per worker and that’s not to mention reduced shipping costs, proximity to clients and other key benefits.

However, with the advent of remote working, these advantages can be offset by the higher costs, denser traffic or inconvenience to family life. You’ll want to weigh up your options and consider location in relation to your work.

If you’re looking to form an LLC (Limited Liability Company) in Florida then you should also pay close attention to state regulations. An LLC can help you save on paperwork, tax and reduce your personal liabilities, but the rules vary depending on location in the USA. Click here to learn more about the registration process.  

The other consideration is ‘when’ to buy. In a seller’s market, it may be smarter to wait or even to purchase in an area that you think may scale over the coming years. There are now a number of online tools to help you identify high-growth properties in areas nearby or you can contact your agent directly to request a free market analysis.

How Can I Save Money?

As important as the market itself is, understanding mortgage rates and buying strategies is also key.

For example, you can save money with a new property by purchasing ‘as is’. This means that the seller has made no repairs prior to listing and any problems, major or minor, become your responsibility.

In this case, you should look to work with a lawyer to inspect and examine the land records and the property itself for any potential red flags. A property ‘as is’ can represent a great investment but background checks are crucial to avoid regrets later.

Once you’ve asked yourself the above questions, you’ll have a clearer idea of what kind, whereabouts and how to go about finding the perfect work-from-home property. From there, you’re ready to hire a trustworthy Realtor®️ and begin your house hunt.

Connect with the experts at Coleman Tanner Realty and take the next step toward securing your dream Florida home.

Posted in Real Estate: Buy, Sell, Lease

Buying a Home for Your Growing Business

Guest Post by Marcus Lansky

Entrepreneurs who operate from their homes can find themselves quickly outgrowing the confines of their home office. While this is great news for your business, it might necessitate moving to a larger home to accommodate both the expansion and the needs of your family. While you may be looking at resale homes, a new home is another great option and will ensure everything is warrantied. These tips from Coleman Tanner Realty can help make buying a house a little less overwhelming. 

Assess Your Finances

As an entrepreneur, you likely manage your finances and your income a little differently than you do your personal finances, even if you’re working as an independent contractor or sole proprietor. This can be a bit of a challenge when it comes time to finance a major purchase like a house. Rather than showing a mortgage lender your pay stubs and tax returns, you’ll probably be asked to provide a profit-and-loss statement and several years’ worth of business and personal tax returns. You may also be asked to provide proof of income via bank statements or other transactional documents. Lenders will want to see you have the financial resources to pay a mortgage in a timely fashion. Your credit history will also factor into what kind of financing you qualify for.

Consider a Co-Signer

Many self-employed individuals find it easier to qualify for a mortgage when they apply with a co-applicant, like a spouse or family member, who works a regular salaried position and can easily verify their income. This can be especially beneficial if, as a small business owner, you maximize deductions related to business operations, if you’ve been in business for a short period of time, or if you don’t have a significant revenue stream to demonstrate a steady income. If you happen to carry a significant amount of debt as a business owner, it can also impact how you’re viewed from a financial perspective, so it’s wise to check your credit and your debt-to-income ratio before moving forward in the home search process.

Choosing a Mortgage

You have a number of options for mortgages, all of which have different terms and conditions. A conventional loan requires a 5–20 percent down payment — putting down at least 20 percent allows you to forego mortgage insurance. A variable or hybrid loan has a fluctuating interest rate, while portable and assumable mortgages allow you to transfer an existing mortgage to another home or to take over someone else’s mortgage, respectively. With an open mortgage, you can make additional payments to pay down the balance faster, though it typically carries a higher interest rate. A closed mortgage restricts extra payments, but interest rates are generally lower. Also, consider the best amortization period or the time it takes to pay back the debt. Longer periods mean smaller payments, but you’ll be paying more interest in the process. When choosing a loan, it’s important to remember you will have to renegotiate the terms of your mortgage when the agreement ends.

Buying As-Is

When searching through the local housing market, you may see “as-is” listings that pique your interest. Buying a house “as-is” means you are accepting it in its existing condition and are not requiring the owner to make any changes or repairs as part of the sales process. This can be a good way to save money and get a deal on a fixer-upper home, but you will want to get a full inspection in advance to ensure there are no major structural problems that will be pricey to fix down the road. Consider retaining an attorney and consulting a general contractor, as well as conducting a title search to ensure there are no red flags. Also, think about the time and money you will need to invest in the home to get it into a good living condition, and weigh that against the cost-savings you’ll realize with this type of purchase.

Whether you’re building a new home, fixing up a resale property, or retrofitting your home to meet the needs of an expanding home-based business, Coleman Tanner Realty can help achieve your vision.

Book an appointment today.

Posted in Real Estate: Buy, Sell, Lease

Veteran Business Owner Speaks on Innovative Business Model for Real Estate Brokerage Startup in Florida.

“The Horse’s Mouth: Veterans Edition” with Michele Poitier and John Tanner

https://blog.thefirewatch.org/the-horses-mouth-veterans-edition-with-michele-poitier-and-john-tanner/

Posted in Real Estate: Buy, Sell, Lease

Can I Become a Homebuyer if I Have Bad Credit?

Image courtesy of Gabby K from Pexels

You may be a good candidate for a credit restoration program. Once you’ve improved your credit scores above the qualifying standards and have the eligibility income required, you can get an approval from the lender. If you need help with your down payment, there are sometimes local housing grants that are available on homes being sold in certain regions. You should consult with a credit repair specialist and a mortgage lender for an analysis of your current income and liabilities, as well as guidance on your next steps. Lenders can be found on Rocket Mortgage. Lexington Law specializes in credit repair. If you would like to speak to one of our preferred partners, we can arrange an introduction. Stay persistent in your pursuit of homeownership, your future self will thank you.

Posted in Real Estate: Buy, Sell, Lease

New Year, New Career? (Boutique Luxury Real Estate Company in Florida Now Hiring!)


  • Job Type: Commissioned Sales
  • Number of Hires: 50
  • Qualifications: Florida Real Estate Sales Licenses
  • Work Authorization: U.S.
  • Hours: Flexible
  • Job Responsibilities: As a Real Estate Agent, you will be tasked with representing buyers, sellers, landlords, or tenants in the acquisition or disposition of real property (residential or commercial).
  • Training: We offer a free 7-module post-licensing residential real estate sales and marketing training series and first-time homebuyer course, available on Udemy at: https://www.johnwtanner.com/courses
  • Duties: Assist sellers with determining the value of their home, demonstrate the benefits of showcasing their home, and help them find a buyer by promoting their home via online marketing, MLS listing syndication, and hosting open houses. Assist buyers by determining their wants and needs, discovering neighborhoods and the lifestyles associated with them, and viewing new construction homes and resale homes in those sub-markets. Present offers, facilitate inspections, and negotiate changes as necessary for our client’s best interests. Schedule the final walkthrough and closing. Follow up with clients after closing. Assist landlords with locating tenants or assist tenants with locating a property for lease, negotiating contracts, and conducting due diligence (qualify the person or the property).
  • Consulting & Property Management: Provide clients with assistance in determining investment strategies, exit strategies, and asset management.
  • Networking: Develop a robust list of contacts with third parties who service real property owners.
  • Maintain Confidentiality.

Additional Qualifications:

  • Computer literate
  • Valid driver’s license
  • Motivation and grit!
  • Witty and creative team players with extroverted personalities are encouraged to apply.
  • Locations: Miami, Fort Lauderdale, The Palm Beaches, Naples, Tampa, Orlando, Pensacola/Destin/FWB, Tallahassee, Jacksonville/Fernandina Beach/St. Augustine, and Daytona Beach.

Send resume to: HR@colemantanner.com

Posted in Real Estate: Buy, Sell, Lease

Coming Soon: A Different Kind of “Board” Meeting – Viewers Are Transported “Behind-the-Scenes” To Have a Look Inside of Coleman Tanner’s Real Estate Team Meetings.

Winedown Wednesdays – Airing on YouTube at 6pm.

So, you’ve been working for the past three days, grinding it out, and are craving for the weekend to come sooner. Why not wind down with us, have a glass of wine (or two), and join our little weekly soiree! We’d love to have you with us (virtually). Join us Wednesdays for happy hour as we dive into a business meeting over wine and a charcuterie board as we talk about our real estate agency activities of the week and brainstorm ways to serve our clients better.

I was working on a new business that I launched in January, 2020 – Coleman Tanner Realty – and then the pandemic hit us. At first, I was frozen in fear. I had already launched the business on a shoestring budget, and now I had no idea how to develop business when I was “stuck at home.”

It has been a real challenge given the crisis we all were (and still are) in. After postponing for several months, I decided to take action to lay a foundation, build the business on it, and gain momentum along the way. I figured that since others were doing well online, that’s where I needed to turn my attention – and here’s one of the cornerstones: a “behind-the-scenes” look at what we are (and will be) doing in our business.

I know that showcasing our business strategies online is like tipping your hand in poker, but I don’t mind others using our ideas in their business because I have an “abundance mentality” – there’s enough for everyone. I hope you enjoy the show and I welcome your feedback. Thanks for watching.

Cheers!

John

Posted in Real Estate Investing, Real Estate: Buy, Sell, Lease

Do I Need a Real Estate Consultant?

Let’s talk business!

A real estate consultant is an advisor and counselor, one who can clarify your available investment options, as well as provide you with research and analysis to justify your decision-making. If you are feeling cloudy about your real estate holding, it’s probably time for you to get a third party’s perspective from someone who can shed light on your situation.

Q.1. What Does a Real Estate Consultant Do?

Let’s review your options…

To perform well in real estate investing, you need to get some advice from a professional real estate consultant that is highly informed in the purchase and sale of real property, mortgage finance, income analysis, market valuation, tax consequences, legality, contract terms, risk, and feasibility studies of a proposed project.

With this knowledge, a savvy consultant can provide you with skillful guidance on real estate investing to help you amass a fortune. As such, these services are always in demand.

Are you interested in buying, selling, or leasing real property? Do you need assistance in defining your real estate goals and investment plans? Whether for passive income, retirement planning, or legacy succession planning, a real estate consultant can deliver investment options and strategies that a client can rely on to achieve their financial goals.

Q.2. How Much Does a Real Estate Consultant Charge?

This is going to require an investment of…

Fees vary according to the amount of time involved in conducting market research, crafting investment options to choose from, and outlining holding strategies based on the investors wants and needs, as well as other factors, and the level of detail that is requested. The consultant may charge an hourly rate, a flat rate for services to be rendered within the scope of the assignment, or a hybrid of the two. Additionally, if the consultant is also operating as a broker, he or she may also earn a real estate sales commission for such buying, selling, or leasing services associated with a given transaction.

Q.3. How Does One Engage a Real Estate Consultant?

Help Wanted!

The consultant-client engagement usually begins with a request for information or request for proposal (RFP). On such request, the consultant will gather enough preliminary information to assess the prospective client’s real estate needs, then draft a proposal that defines the scope of work to be performed, the costs associated with the assignment, and any appropriate disclaimers and limiting conditions. The prospective client may then request changes to the scope of work to meet their needs and objectives during the consulting process.

After some back-and-forth negotiation on terms and price, the client will sign the final engagement letter and submit a nonrefundable binder deposit (usually 50% of the fee), with the balance due on invoice and submission of the completed assignment.

Coleman Tanner | Real Estate Consulting

John W. Tanner, J.D.|M.S., is the head of our real estate brokerage and consulting practice, as well as the managing broker in Florida. He is based in Miami and oversees all Florida operations.

John has worked across three sectors of the real estate industry, including loan origination and processing, residential and commercial property valuation, and residential real estate sales. He also studied hotel development while in graduate school at Florida International University’s Chaplain School of Hospitality Management.

While attending Florida Coastal School of Law, John took courses in residential and commercial real estate law, trusts and estates planning, and business law. Through a study abroad program, John attended the Universitè Du Auvergne in Clermont-Ferrand, France, where he studied French business law and international contract negotiations.

John has extensive experience in valuing residential and multi-family properties, as well as some experience appraising retail, hotel, and office/warehouse properties. He has worked for various banks and credit unions, private investors, homeowners, landlords and tenants. His team of appraisers completed valuations of over $500 million worth of real estate from 2004-2010.

To book an initial consultation, visit www.Calendly.com/jwtanner

Your Home for Real Estate Solutions!

For more information about Florida properties for sale or lease, visit www.colemantanner.com

Posted in Real Estate: Buy, Sell, Lease

New Book Release:

Now Available on Amazon (or download here for FREE)