Meet Eileen

Steer Your Florida Real Estate Business in The Right Direction

I recently listened to Harry Dent, a captain in the financial world, who was sharing keen actions to steer your business in the right direction. His specialty is the long term and using demographics. People are as predictable as life insurance actuaries know they are.

The most startling insight he got was in 1998 when he realized there was a really good long-term correlation with the economy and the stock market on a 46-year lag to the birth index.

Young people are expensive to raise and are inflationary and old people downsize everything – they are deflationary.

He studied aging generations and technology cycles – when they come in, how they enter society, how they accelerate productivity and when they slack off.

We’ve just seen one of the great technology revolutions move mainstream in history with computers, smart phones, internet and broadband.

Baby Boomers Next Move by Eileen Burns

Harry predicted the entire boom and bust back in the late 80s.

Baby boomers would spend more and then, about 2007, the numbers would peak and then there would be a baby bust that comes along and slows our economy down with fewer people peak spending from 2008 on.

We always run up debt in booms. Private debt grew even faster than government debt.

It’s the bursting of this debt bubble and the weight of this debt that is keeping our economy from recovery.

I agree when Harry says “its a huge mistake that governments are preventing the deleveraging of debt.” It is the deleveraging of debt that is going to impact your business because whoever has the most debt and doesn’t get more efficient and get deleveraged, mean and lean in this downturn, is going to go under sooner or later.

He declared business goes in four seasons over one lifetime of about 80 years. We are in the winter season after the fall – bubble boom – so debt is going to deleverage and economies are going to slow down for over a decade.

If you want to know cradle to grave what age – they need childcare; getting married; starter homes; trade-up homes; food; camping equipment; vacations; cruise ships; savings subscribe to Boom and Bust newsletter and/or buy Harry’s books.

Specialization and focus is your opportunity. Identify where the demographics are going to favor you.

If you want to know what Harry said about real estate contact Eileen Burns directly at TransStateCommercialBroker@gmail.com

Eileen Burns is an Author of The Ultimate Sales Success Secret- South Florida Edition, Speaker and Marketing Strategist to Real Estate Related Professionals who want to get more customers with less effort.

Currently, a Business Developer and an Associate Broker with Trans State Commercial Realty in Fort Lauderdale, Florida specializing in income-producing property acquisitions and dispositions.

NON-Tax Reasons to Do a 1031 Exchange in Ft Lauderdale

Investors consider 1031 Exchange transactions to defer the capital gain tax. Here are additional reasons property owners and investors might want to do a 1031 exchange:

Exchange from a fully depreciated property to a higher value property that can be depreciated.
Exchange from property that cannot be refinanced.
Exchange from non-income producing raw land to improved property to create a positive cash flow from rental income.
Exchange from a property that maximized or minimized cash flow to a higher cash flow property to generate larger cash flow.
Exchange from a stagnant or slowly appreciating property to an area with faster appreciation.
Exchange for a property or multiple properties that may be easier to sell in the coming years.
Exchange to meet investor’s location requirements.
Exchange to fit the lifestyle of the investor.
Exchange from several smaller properties to one large property to consolidate the benefits of ownership and reduce management responsibilities.
Exchange from a larger property to several smaller properties… estate planning purposes.
Exchange to a property that investor can use in his or her own profession.
Exchange from a partial interest in one property to a fee interest in another property.
Exchange from a management intensive fee interest in real estate to a professionally managed triple net property where the lease, including options, has 30 or more years remaining.
Exchange to diversify and minimize risk to investor’s real estate portfolio.

Just remember to utilize the experts in this arena before parting with your cash . You may contact me for a resource to schedule your complimentary consultation from a qualified intermediary service company.

Currently, a Business Developer and an Associate Broker with Trans State Commercial Realty in Fort Lauderdale, Florida specializing in income-producing property acquisitions and dispositions. TransStateCommercialBroker@gmail.com

1031 Exchange Is Even More Valuable NOW

On January 1, 2013 two new tax laws took effect:

A new tax and an increase in the tax rate on capital gains

1031 exchange

The new tax is part of the President’s Affordable Healthcare Act. It imposes a 3.8% tax on certain investment income (including capital gains) on tax payers whose Adjusted Gross income exceeds $200,000 for single filers and $250,000 for married couples filing jointly.

Additionally, The American Taxpayer Relief Act raised the top long-term capital gain tax from 15% to 20% for some taxpayers. The 20% top rate applies to the extent a tax payer’s Taxable Income exceeds $400,000 for single individuals and $450,000 for married couples filing jointly. These two taxes apply to different levels of income.

1031 exchange resource by Eileen Burns

Taxable income is a smaller amount and results after a taxpayer’s deductions and exemptions are subtracted from the adjusted gross income.

The Healthcare tax will impact more taxpayers that if it applied to taxable income.

There is good news!

If investor does a 1031 exchange , investor can defer all three taxes:

depreciation recapture – capital gain – the new healthcare tax

To illustrate the application of these taxes, contact me for a resource who will provide a complimentary consultation for tax deferred exchange solutions nationwide.

1031 Exchange Into Your Dream Home

Ever dream of living in Ft. Lauderdale, Miami, Palm Beach? Hollywood Lakes FL home for sale

Did you know there are ways Investors can exit their investment property and acquire the home of their dreams?

100 Apt Units Hialeah FL

The process is simple and approved by the IRS.

When you sell your investment property and do a 1031 exchange into the replacement property, you rent it to friends for at least 14 days during each of the first two years after the exchange. You use it personally for no more than 14 days in each year. THEN live in it for the rest of your life.

Most importantly, be sure to utilize a qualified intermediary service. Contact me for a re source who will provide a complimentary consultation for your capital gains dilemma nationwide. This step is the most over looked and the most necessary for a smooth, positive transition.

Additionally, you can sell your primary residence and use your Home Gain Exclusion (up to $500,000 for a married couple) to pay off the loan on your dream home.

If you wish to receive a resource Brief Exchange Booklet, contact me at 954-483.3912.

Currently, a Business Developer and an Associate Broker with Trans State Commercial Realty in Fort Lauderdale, Florida specializing in investment property acquisitions and dispositions. TransStateCommercialBroker@gmail.com

Ready For Retirement AND Feeling Stuck With Your Capital Gains Dilemma?

IF you are stuck and this capital gains dilemma is causing you sleepless nights, read on!

You may be one of the many baby boomers who can’t fully retire until you figure out how to deal with your tax liability.

You may be faced with management burdens or own a property with no basis remaining.

You may also be facing how to deal with your estate at this joyful point in your life.

You may simply feel your property doesn’t work for you anymore!

Did you know that 1031 Exchanges provide investors, like you, with one of the best tax strategies for preserving the value of your investment portfolio? By using an Exchange you are able to defer the recognition of capital gain taxes that would otherwise be incurred on the sale of your property.

Whether your investment property is owned free and clear or not, the benefits of a tax deferred exchange are significant.

The consequence of high capital gains are

the new 20% tax

the 3.8% surcharge for health care

25% recapture of depreciation

and possibly…State Income Tax

As part of your exit strategy, I highly recommend consulting with a qualified Intermediary, tax and legal advisers prior to making and decisions. Explore what nationwide solutions are available to your unique situation today.

Then work with me, a Real Estate Broker licensed in the State of Florida for more than two decades who continually creates long-term alliances attending educational seminars that may make your decisions easier, so you can now focus on your happy retirement.

p.s. FL and TN do not have state income tax

p.p.s CA has a 13.3% state income

Looking forward to hearing your stories and situations. Feel free to scheduling your consultation today.

Eileen Burns

Trans State Commercial Realty

954-483-3912

TransStateCommercialBroker@gmail.com

Eileen Burns is an Author of The Ultimate Sales Success Secret- South Florida Edition, Speaker and Marketing Strategist to Real Estate Related Professionals who want to get better customers with less effort.

Currently, a Business Developer and Broker Associate with Trans State Commercial Realty in the Fort Lauderdale, Miami and Palm Beach, Florida area specializing in income-producing property acquisitions and dispositions.

For a F ree Audio Report “The 7 Marketing Sins Committed By Real Estate Professionals when they Go Online” go to www.MeetEileen.com

FORT LAUDERDALE HOME BUYERS SHOULD JUMP TO BUY NOW

FORT LAUDERDALE Home buyers should jump to purchase now especially as 2013 FHA buyers will face toughter standards.

“Still time to buy a home and close in Ft Lauderdale this year, 2012″ says Eileen Burns.

After reading a Wall Street Journal article by Rachel Louise Ensign yesterday, Eileen Burns knows and you should too, changes are looming.

Even though home prices are recovering, prices are still low enough to lure buyers with great deals. Historical low interest rates, especially for first-time home buyers, will attract buyers as the market has bottomed out.

Metro Ft Lauderdale – Oakland Park, FL wonderful, turn key starter home available with two bedrooms and two baths. This home is not a fixer upper nor a short sale nor bank owned

Buyers beware if you procrastinate as tougher lender standards are on the way. Although FHA loans have looser credit and down payment criteria compared with tougher criteria for standard loans, FHA is now facing billions of dollars of losses on loans originated between 2007 and 2009.

FHA requirements will include higher annual insurance premiums and tougher home inspections. FHA 203(b) require an appraisal and an inspection by a FHA certified appraiser. Any needed repairs are not negotiable and the sale cannot proceed until repairs are made.
Buyers may wish to look at homes on the market that are ready for a smoother process to closing.

After renting for three years, it may make sense to buy now as rents are on the increase. It will be cheaper to own at the end of the day. Interest rates will remain low through 2015.

For this home or any Florida property purchase, contact Eileen Burns, Trans State commercial Realty 954-483-3912

Veteran’s Day,The Carpet Cleaning Dilemma, Saga and Customer Experience by Eileen Burns

Sunday, Veteran’s Day Weekend
Dilemma: to Rent or Hire a Carpet Cleaning Company

In the past, this Customer has been dissatisfied with steam cleaning rental choices offered by supermarkets and major retail chains as well as carpet cleaning companies who arrive to your door step eager to up sell before commencing the job they arrived to do.

How many times must a Customer want the promised results without the agony of disappointment a short time thereafter.

This year will be different the Customer declares!

This year, Baby Boomers know how to google information. It is so simple to insert your ask question into the search bar and obtain valuable information that helps you make the decision. More importantly, when the decision is made, it is a NOW decision whereby the customer takes immediate action.

Not necessarily a task at the top of the list for a Sunday activity but with the holiday celebrations looming and the prospect of guests flowing through your home, decisions have to be made quickly and fit your timeline.

Research shows the Bissell website contains:

a video showing the consumer what sets Bissell apart from any other choice a Customer should make
simple clicks to obtain downloadable forms to rent their product from another major brand
offer Coupons as an immediate incentive for customers to act NOW
Most importantly, they offer testimonials from other happy Customers
Earth friendly formulas
Community involvement

Bissell Big Green

The name of this wonderful product being offered is Big Green. A deep cleaning machine a Customer can rent from any Lowe’s store in metro Ft Lauderdale, Miami and Palm Beach. This amazing product offers benefits: It deep cleans, dries fast and has satisfied customer testimonials. Bissell entices this Customer to act NOW.

This rental equipment task is now added to the Customer’s timeline to pick up first thing the following day. We all know it takes several hours to complete this task, clean the equipment for return and to obtain your deposit refund. Not necessarily the way this Customer planned to celebrate Veteran’s Day but an important task nonetheless.

Monday, Veteran’s Day …tick..tick..tick

The Customer reflects on gratitude for all those serving and who have served on behalf of our United States of America to protect and keep our borders safe and free.

Thoughts begin with Grandpa, who served in the Navy; Dad, who served in the Army; Brother, who served in the Army and Nephew currently serving in the Navy. Also included, many cousins who have served in the armed forces as well as the countless other citizens who step up and into these leadership positions. Thank you and may God bless America.

The Saga Begins …tick..tick…tick

Mapquest shows nearest Lowe’s store is 6.6 miles from Customers home. Arrive and directed to checkout to present form and coupon. Three checkers never heard of the Big Green Bissell product. Tick…tick..tick!

Customer Service has ringing phones and a line to wait on to obtain information. Clearly the coupon states Lowe’s yet the product isn’t in this store.

Great customer service ensues at Lowe’s. To the detriment of all the other customers in line, calls are made to 5 of the 13 other Lowe’s locations in the tri county area to see if the product is in their store.

A note to Bissell home office… the sales person who secured this major retail account arrangement is not going to happy with the results.

This Customer is not only crestfallen but determined to obtain desired, timely results. The customer returns home and contacts Bissell corporate office.

After providing a brief synopsis of the Customer Experience, the Operator answering the Customer call has deeply distressing news. Unfortunately, she begins, “everyone is out at training today and no one can help me.” She further declares, this Customer should leave a voice mail message for a return call tomorrow. When told by this Customer that solution is unacceptable, the Customer is promptly transferred to voice mail message system for customer service.

Dogged and determined, this Customer calls back immediately and asks the name of the President. To the Customer’s shock and amazement, the Operator says that information is not available. The Customer then asks to be connected to the Assistant to the President. Again, Operator claims that everyone is out at training today including managers. Customer is then forwarded to a manager’s voice mail message system.

This Customer calls back for a third time asking Operator’s name and was told “that information is irrelevant and tells Customer to have a nice day.”

A note to Bissell home office… The Customer is more than distressed, her blood is boiling!

This Customer proceeds to go onto the Bissell website and enters a negative experience testimony. As soon as the send button is clicked, the phone rings with a corporate executive calling at the end of the line. He apologizes to this Customer that the coupons were inserted into the Florida market prematurely for the Lowe’s rental. He then provides a solution!

The Good News Solution ..tick…tick..tick

The Executive informs this Customer Bissell has another product similar to Big Green available at a national brand just 3 miles from Customer’s home. This is another branded product called Pawsitively Clean.

Pawsitively Clean

He then offers to send Customer several bottles of cleaning formula for her trouble. Customer informs executive, although grateful for the offer, Customer has just made a decision to replace carpet with tile prior to next cleaning episode.

A note to Bissell home office… Eileen Burns is a Marketing Strategist for Business Owners Who Want More Customers with Less Effort… and my services are available to you. Clearly you have yet to make the connection to add this product line to your website for your Florida Customers who made the decision to rent your Big Green product and need an immediate solution to be your customer today! Further, have you considered cross-promoting with vendors who have your product in their carpet cleaning stores so customers can continue to click and get solutions today!

The Petsmart team does, in fact, have the rental equipment. However, the display is just about empty and the service reps had to go into inventory in the back of the store to refill the cleaning formulas that should be available for Customer selection with the equipment.

A note to Petsmart home office….Eileen Burns is a Marketing Strategist to Business Owners Who Want More Customers with Less Effort and my services are available to you.

The Customer then hands driver’s license to the Manager to fill in the contract form and unbelievably the Manager holds out his rental form and says …just fill in this form for me and then doesn’t have a pen! Next, he trains the new guy to do the transaction.

Tick.tick.tick!

When the Customer returns home, she finds an email from Consumer Central at Bissell
“We apologize for the difficulty you experienced tracking down a BISSELL Big Green Rental.
The Lowe’s stores in your area were just recently signed up with us to rent the BISSELL Big Green Machine.
The PetSmart stores also rent the unit. Here is a listing of the PetSmart stores in your area as well as a $10 off coupon.
Your comments and concerns have been forwarded to a supervisor.
Please let us know if you have any additional questions.
Thank you”

For the Readers of this blog post by Eileen Burns …

Do you really believe many other Customers should and/or would,jump through so many hoops to rent Big Green?

Do you believe the sales person who signed up the Lowe’s account and Lowe’s home office would be happy with the next statement seeing this Florida Customer experience unfold in this blog post?

Do you believe the Customer should then be directed to Pawsitively Clean as the same machine and jump through more hoops to locate the nearest store with a coupon offer after the Executive handled the situation properly by directly contacting the Customer providing the solution?

Then, the icing on the cake… “Your comments and concerns have been forwarded to a supervisor.”

Or is it… “Please let us know if you have any additional questions”

A note to Bissell Home Office….this method is backwards. You need another system in place to avoid negative publicity after investing large sums of capital in great products. You may never know how many other Customers have been turned off to your brand now and in the future.

Results Rule! …tick…tick..tick

This Customer was so exhausted from the saga, she had to cancel a social event planned for her evening. The product does, in fact, deliver the promised benefits. Mission accomplished!

This is a classic example when building or running your empire and/or enterprise, systems and checks needs to be in place at every level.

Let free enterprise continue in this great country. The first point of contact in any business can make or break profit margins. Is this the new market trend for Brand names? If you want more customers with less effort, do you really believe the Customer would jump through this many hoops for your product or service?

We all have the same 24 hours to use wisely. What are you doing today to improve your Customer Experience? …tick…tick…tick

Currently, a Business Developer and an Associate Broker with Trans State Commercial Realty in Fort Lauderdale, Florida specializing in income-producing property acquisitions and dispositions.

For a F ree Audio Report “The 7 Marketing Sins Committed By Real Estate Professionals when they Go Online” go to www.MeetEileen.com

The Arrogant Doctor Meets The Outrageous Miami Real Estate Agent

Yesteryear, circa 1989
Seaside Community in Florida
Golden Beach, FL 33160

The intracoastal waterway separates this barrier island from the Atlantic Ocean. The entire town is one mile north to south and 4 blocks east to west. This upscale enclave is 192 acres with a population of less than 1000 people. I tell you this, in advance, because it is relevant to our story.

Welcome to the “Clinton” years!

For those readers who were yet to be born and/or those readers who have forgotten that it is possible to return to this challenging time to become a home owner, the mortgage interest rates to purchase a home were in the double digits.

Eileen Burns, Luxury Real Estate Agent – Lucky me!

I secured a listing to market a two-story, luxury, waterfront home solidly constructed in the 1950’s. The custom builder used the term “California style” to describe the exterior. Imagine vaulted ceilings and plenty of floor to ceiling glass to view the luxury motor yachts passing up and down the intracoastal waterways of metro Miami and Ft Lauderdale Florida.

It gets better!

This is an “estate sale”. The Personal Representative is ready, willing and able to close the transaction with a qualified buyer.

photo credit – http://www.flickr.com/photos/random0/806737600/

As an aside, real estate agents in this era marketed homes through books with black and white photos similar to the Yellow Pages. You would also have to belong to 5 different Boards of Realtors as none would be willing to share information. Lots of time the information was obsolete by the time the books were delivered. Did I mentioned the world wide web and cell phones had yet to be invented for our business use?

This is a gated community where appointments are necessary to enter the enclave. Everyone, I mean everyone, had a landline to communicate via the telephone.

I receive a call from a prospect who passed the suspect test. Yes, he was pre-approved. No, he was not working with another agent. Yes, he was married and would preview first. He made it very clear he was a “doctor” and his timeline was important. If he liked it, then he would schedule a return visit for his wife’s approval.

Photo credit http://www.flickr.com/photos/imagetaker1/5166036633/

Here comes the sharp, fast sports car zipping up the driveway. Out walks Mister “Know It All” looking like he should be on the cover of GQ.

We walked the property, explored every nook and cranny and to my utter amazement, he proceeds to sit in the living room silently for the next hour. Not a word. I think how rude not to ask my permission for my timeline.

He abruptly stands up and makes a request to return in two hours. I accommodate this request as my calendar is free today.

Doctor Slick arrives with his parents in tow. Shortly thereafter, his wife arrives. I must say I was taken back as the wife did not utter one word during this showing. The parents did all the talking about re-designing and reinvention of the space and it seemed to be decided this couple would buy the home.

The appointment was made to meet at the Doctor’s office the following morning with the contract terms filled in for their respective signatures.

I arrived on time and the Doctor pulls out his pen to scribble his name. “No, no, no” I say. You must read and review the language in this contract and agree to the terms as it will be a binding contract for all parties. So I strongly suggested the Doctor sit down and read the document prior to executing.

The terms are acceptable to the Personal Representative and the property goes pending subject to mortgage approval within a certain amount of days.

http://www.flickr.com/photos/pippex/3020247262/

Deadlines mean nothing to Doctor buyer. It begins with the late delivery of the escrow deposit and continues on until the day of the mortgage approval.

About two weeks into the transaction I receive a telephone call from a real estate agent saying she has been working with the Doctor for three months and demanding me to add her name to the contract to split the commission. You can imagine my surprise to hear this information as the Doctor had indicated otherwise. You can also imagine my shock at this demand to participate in the Professional fee. Red alerts going up all around. Sadly I say to this Agent I will be unable to accommodate your request. We move onward.

The Doctor produces a mortgage denial document on the very last date that he no longer qualifies for the 10% interest rate on this property and directly demands a return of his escrow deposit.

Rather than express outrage to the submission of this document, I merely remind the Doctor that the Contract for Purchase and Sale Contract includes a clause that said something to the effect that in the event the Buyer could not obtain a 10% mortgage, another lender could secure a loan to do so.

Now, allow me to introduce Eileen Burns, the “Outrageous Real Estate Agent” who now contacts a hard money lender who is willing to provide an 18% interest rate to enable the Doctor to acquire this home of his dreams.

The irate Doctor ultimately closes the transaction with the initial mortgage lender at 10%. Imagine that! The Doctor now qualifies for that 10% loan.

For the past two decades in Real Estate business I can truly say most buyer and seller transactions have been pleasant. Never underestimate the Power of a Professional Experience.

Ft Lauderdale Economic Development - Part 2

Ft Lauderdale Economic Development reports highways are expensive to build and maintain.

Metro Planning Organization is necessary to address the highway system that is already built out.

Moving people without automobiles is challenging at best. To keep the business community moving premium transit studies were completed with amazing results. HOV lanes for rapidly moving vehicles are certain times of day were established.

Express buses pick up people at central location in Broward County (metro Ft Lauderdale) and transport them to downtown Miami. What the report showed was the parking lot was filled with luxury automobiles and the folks utilizing this method of transportation are middle aged, black women making $60,000 a year. It works. This method frees up approximately $1,000 a month in overhead that can be allocated to purchasing a home versus renting in the western city locations.

For the future, lets take a peek at Electric street cars.

The Wave Street Car

“The Wave” is a planned 2.7 mile streetcar system designed to move people in and around downtown and serve as a circular system with connections to regional bus and rail systems.

The first phase of the Central Broward County, metro Ft Lauderdale, East/West Transit system is part of a planned county wide network.

This will attract new residential development slated for midrise in Flagler Village, north of Broward Boulevard, west of U.S. 1 and east of Andrews Avenue.

Additionally this plan will attract new restaurants, shops and educational facilities so real estate brokers and agents should gear up for the future.

This project encourages significant private investment estimated at approximately 4 billion of new development by 2030 with an estimated $70-80MM in new tax revenues.

The slated project will create over 2,000 engineering and construction jobs.

Close proximity to airport, port/cruise terminal and Tri-Rail expanision of the streetcar network for new hubs into the future.

Ft. Lauderdale, Florida Economic Development - Part 1 -the Big Picture

Ft. Lauderdale, Florida Economic Development – Part 1 -the Big Picture

The Downtown Development Authority focuses its efforts on projects that will enhance the economic vitality of downtown, as well as contribute to a better quality of life to those that live, work and play here.

Join the transformation!

Transformation Ft Lauderdale

Transportation moves this country. Imagine if you will, a future where cargo ships arrive in Port Everglades, Florida and get off loaded to reach Los Angeles, CA with only two traffic lights?

It’s coming folks! Five new births accommodating larger ships that will be passing through the new lane of the Panama Canal which is scheduled to open in 2014 are already on the horizon. East coast access for the State of Florida means added commerce dollars for all port cities.

The Ft Lauderdale runway expansion is underway with 67 feet of dirt rising from the surface over Federal Highway with five tunnels planned to be coming out of Port Everglades. 980 truck loads of dirt a day and a rail spur to bring the dirt in. Interstate 595 is now 52% completed.

As I write, the newest activity at the Port of Miami is dredging the 50 feet draft to make this part of the reality for container shipments to rail.

Palm Beach is facing obstacles with train issues at Blue Heron Boulevard.

Ft Pierce has 97 acres available for future commerce.

Jacksonville and Tampa will be brimming as well.

Free trade agreements are now in place. Asia brings in 7,000 containers. Future plans include India, Vietnam, Columbia, Brazil and Suez trade. This mean opportunity for commercial real estate brokers, residential agents, developers and much more.

Highways are extremely costly to build and maintain.

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