Why Joe Varing Personal Real Estate Corporation

Product knowledge:

Joe only presents the most attractive real estate properties. He analyzes and breaks down dozens of potentials before pursuing an opportunity. Joe provides a 9 step process to help his clients determine how efficient the investment is:

1. Demand for this type of property. Vacancy rates, new products coming on the market, land and construction values/replacement cost
2. Cash on cash return (COC), Internal rate of return (IRR), True cap rate, Stabilized cap rate
3. Direct comparable's. Recent active, sold and expired listings
4. Ratings from the tenants on the building’s up keep, condition and quality of services provided by current landlord. How can it be improved?
5. Rents vs. Price per square foot/price per unit
6. Market rents, vacant units
7. Inspection of all aspects of the building, Environmental phase 1 report. Phase 2 if required, Confirm the remaining life span of the heating, cooling and ventilation equipment
8. Appraisal
9. Financing options. CMHC insured, vendor-take back, agreement for sale, a commitment letter from the first mortgage lender to confirm exact financing costs

At this point a sound decision can be made to either move forward and execute or look for a better opportunity.

Market Knowledge:

Joe does numerous activities to be up-to-date about the market’s short and long term trends and conditions. He has many sources to obtain this vital information. Here are a few:

• BC Apartments – monthly up-to-date information on rental apartment buildings
• ICI World Commercial Real Estate – this site is analyzed once a week for new opportunities and price fluctuations
• Board Stats – reviewed monthly and compared to last 12 months
• Real Estate Action Group (REAG): Member of Ozzie Jurock’s real estate action group – Meetings are held at least once a month
• Canadian Real Estate Magazine subscriber
• Western Investor subscriber
• Member of Canadian Wealth Builder

In order to make the most sophisticated and beneficial moves while focusing on acquisition, management and growth of your portfolio, it is imperative to do your homework. Those considering a move into commercial property, either directly by buying a property, or indirectly through investment vehicles, need to do a thorough study – that means doing the reading and research.

Negotiation Skills:

Negotiating the purchase and sale of a rental property is often complex and time consuming. Joe takes pride in his ability and reputation to work closely with sellers and qualified buyers to efficiently reach a fair and equitable transaction. He expertly writes and presents offers and ensures that both parties are completely satisfied and confident in completing each transaction. He provides strategic advice while ensuring ethical practices. Here are a few of his tools:

• Before a negotiation begins, try to find out the motivation of each party. It’s not always a) price. A flexible closing date, higher deposits and shorter due diligence time could be just as important. This will help you formulate a strong offer going in.
• Keep the negotiations away from an “us” versus “them” mentality. The goal is truly to create b) a win-win.
• Keep negotiations alive even if “offers” and “counteroffers” drag on over a long time. Many c) deals come back from the brink.
• Don’t forget the intangibles of a successful negotiation. For example, if buyers find d) themselves in a multiple offer situation, humanize it by writing a letter to the seller about how important this investment opportunity is to our portfolio.
• People often say “Don’t get emotional.” That’s nonsense. How can an investor not get emotional when negotiating a transaction as important as an investment property? The key is to analyze the numbers and not your emotions. It should be a black and white decision.

Marketing:

The key to your success in selling commercial property is a thorough and comprehensive understanding of value. Proper valuation is the basis for all investment decisions, whether it is an investment in the stocks of various companies, precious metals, or real estate. You absolutely must be able to understand how value is derived in order to make prudent investment decisions. Allow us to assist you in the process.

Joe has the experience and resources to determine an accurate evaluation of your property. By tracking all listings and monitoring and analyzing each and every sale transaction in any given market, he will ensure that your building is priced to maximize value:

• Direct email to over 700 commercial agent contacts and a personal database of over 600 a) clients.
• Personal networking
• Specialized real estate newspaper advertising
• Listing with MLS Service (optional)

Personal Development:

Joe believes that to be on the top of your game, day in day out, year in year out, one must be focused on personal development. The enhancing of one’s mind, body and soul are crucial because one cannot perform at its greatest without the other. “Work harder on yourself than you do on your job” Jim Rohn, This is the belief that Joe abides by everyday. He is involved in physical activities 5 times a week, reads at least 1 hour daily and is a spiritual person.

Joe believes the nurturing of one’s mind, body and soul are imperative to wealth, prosperity, happiness and success for a lifetime.

Many investors never achieve there passive income goals; not because they aim too high and miss, but they aim too low and hit. It is crucial to have clearly defined goals that are reviewed daily, quarterly and annually. One must have a laser beam focus on where and what they want to accomplish and where they plan on taking there portfolio. Joe helps his clients define and create a roadmap designed for accomplishment.