Joe's Blog

Holy Hockey!

Joe Davis (Indiana Commercial Realty) — Sun, 07 Sep 2008 16:17:35 -0700

After a long summer, our church hockey ministry gets back under way this Wednesday! I've kept in contact with many of the guys, especially the fellow Realtors, through the off season. The ministry has really grown over the past 8 years. Last year we hosted the Christian Cup tournament and this year we are heading to Texas to compete again. Fun times. I run the daily-devotional called SavedOnSkates. It's a way for holy hockey folks to get a bit of scripture with a fun application. It's a great time for all us Christians who love the game. Joe Davis SavedOnSkates.com

Office/Warehouse Space in Crown Point, Indiana

Joe Davis (Indiana Commercial Realty) — Wed, 23 Apr 2008 07:48:38 -0700

Office/Warehouse Space in Crown Point 1161 Brueckman, Suite BCrown Point, IN 46307County: Lake

Type:	IndustrialWarehouse
Total Space Available:	2,000 SF$12.5 per Sq ft

Property Description:This brand-new building in Crown Point's newest business park is made of solid block construction with a productively laid out office space consisting of 3-4 offices with plenty of windows for great natural lighting. The 24 x 25 warehouse/garage is accessed through the office or the 12 x 12 overhead door. There is plenty of parking right out front with easy access to major roadways such as Route 30 or Interstate 65. Location Description:This business park is located between Main and Broadway on Summit Street, just east of Indiana Ave. Brueckman runs north to the parking area amongst four industrial buildings. Unit is in the southwest building.

Huge New Warehouse in Crown Point, Indiana

Joe Davis (Indiana Commercial Realty) — Tue, 22 Apr 2008 05:29:33 -0700

Huge New Warehouse in Crown Point

Property Use Type:	Vacant/Owner-User
Type:	IndustrialWarehouse
Building Size:	12,000 SF
Lot Size:	2 SF
Clear Ceiling Height:	18 ft.
Price:	$760,000
Price/SF:	$63.33
Year Built:	2007

1191 Erie CtCrown Point, IN 46307Property Description:This brand-new 12000 square foot building is located within the growing industrial area of Crown Point, just off of Summit Street. The park features numerous thriving industrial companies that benefit from it' s close proximity to Interstate 65 and Route 30. The 2 overhead doors (14' x14' ) allow for convenient access to the 18 foot high ceilings and concrete floor. Location Description:Just south of Summit between Main & Broadway. No. Stories: 1 Property Types: WarehouseIndustrial-Business Park No. Grade Level Doors: 2 (one door is constructed to be dock high)Property Description:This brand-new 12000 square foot building is located within the growing industrial area of Crown Point, just off of Summit Street. The park features numerous thriving industrial companies that benefit from it' s close proximity to Interstate 65 and Route 30. The 2 overhead doors (14' x14' ) allow for convenient access to the 18 foot high ceilings and concrete floor. Location Description:Just south of Summit between Main & Broadway.

Downtown Schereville Office! Newly Renovated!

Joe Davis (Indiana Commercial Realty) — Mon, 21 Apr 2008 06:59:22 -0700

Downtown Schereville Office! Newly Renovated! 40 E JolietSchererville, IN 46375County: Lake

Type:	OfficeCreative/Loft
Total Space Available:	903 SF

Property Description:Great office space right in Downtown Schererville! The entire building has been renovated to give a productive space within the historic atmosphere of the bustling area of the community. There is easy access to Route 30 and great visibility being right off of the old Lincoln Highway (SR 330) and corner of Junction Avenue. The space is comprised of 4 offices and a main large work area with a nice size kitchenette space. 10.50 Triple net lease with 2.80 CAM charge. Location Description:The building is directly across from the Schererville Police Station. It is at the corner of State Road 330 and Junction Avenue. Zoning Description:OS

Property Types:	Creative/LoftOffice Building
Institutional/Governmental
Retail (Other)

http://listing.loopnet.com/15652320

Office/Warehouse in CP Industrial Park

Joe Davis (Indiana Commercial Realty) — Mon, 21 Apr 2008 06:32:45 -0700

Office/Warehouse in CP Industrial Park 1084 BrueckmanCrown Point, IN 46307

Type:	IndustrialDistribution Warehouse
Total Space Available:	4,000 SF
Building Size:	4,000 SF
Year Built:	2005

Great warehouse/office space with plenty of options! The office area is currently designed with 630 sq ft of office space with an additional 644 sq ft built as his/hers washrooms and locker rooms. Spaces can be modified. The heated warehouse is currently 2730 sq ft which has a separate entrance and 14 ft overhead door with a ceiling height of 16 ft. Easy access to I65.Gross Lease $6000 per month

Downtown Schereville, Indiana Office! Newly Renovated! Won't Last!

Joe Davis (Indiana Commercial Realty) — Tue, 08 Apr 2008 03:10:14 -0700

Downtown Schereville, Indiana Office! Newly Renovated! Won't Last!Property Description:Great office space right in Downtown Schererville, Indiana! The entire building has been renovated to give a productive space within the historic atmosphere of the bustling area of the community. There is easy access to Route 30 and great visibility being right off of the old Lincoln Highway (SR 330) and corner of Junction Avenue. The space is comprised of 4 offices and a main large work area with a nice size kitchenette space. Triple net lease with 2.80 CAM charge. Location Description:The building is directly across from the Schererville Police Station. It is at the corner of State Road 330 and Junction Avenue.

Great Retail Development Land in Crown Point!

Joe Davis (Indiana Commercial Realty) — Fri, 28 Mar 2008 10:58:07 -0700

Presenting a prime opportunity to get in on the ground floor development of one of the most bustling areas of Indiana! This site located in Crown Point is on a prime corner just north of the I65 & 231 corridor. With 5.26 acres and plenty of supporting commerce and residential presence, this location is set for development! Utilities present. List Price : $1,999,500

New Fannie Mae Loan Limits

Joe Davis (Indiana Commercial Realty) — Wed, 12 Mar 2008 07:08:56 -0700

New Fannie Mae Loan LimitsThe Economic Stimulus Act of 2008, signed into law on February 13, 2008, establishes temporary increases to Fannie Mae's conventional loan limits for first lien mortgage loans in high-cost areas. These new loan limits can help people refinance or purchase property with a standard conventional loan versus qualifying for a stricter, jumbo loan. Loan limit increases are specific to certain counties and cities across the nation. If you have questions about these areas or feel that this will help accomplish your goals, please contact us directly for more information.

Positive Cash Flow of 28% with Guaranteed Rents and Home Warranty for 1 Year!

Joe Davis (Indiana Commercial Realty) — Tue, 11 Mar 2008 03:28:21 -0700

Only $162,500! Seller pays for your closing costs with 3% concession to you! This fully rented duplex is a great money making income with a positive cash flow of 28% in the first year! Rents are guaranteed for one full year! There is also a full year home warranty included! On site property management insures that your investment will be marketed constantly and the on site maintenance will take care of your tenants needs quickly to keep you renters satisfied and your occupancy rates up. Contact Joe Davis JoeyDavis@KW.com for more details including full proforma. We co-broke so Realtors bring your investors and we'll gladly reward you!

Full Doc Loans (Less Stringent Guidelines)

Joe Davis (Indiana Commercial Realty) — Tue, 11 Mar 2008 03:09:06 -0700

Full Doc Loans (Less Stringent Guidelines)In the past, mortgage brokers seldom recommended "Full Doc" loans for self employed borrowers because the difference in rate was minimal and stated loans were much easier to underwrite and close for these clients. As lenders eliminate or reduce the availability of stated programs, guidelines and qualifying factors for full doc loans have become less stringent than in the past. In many cases, self employed borrowers are able to qualify full doc with a lower income than one may think. If an investor's rental properties cash flow or break even and you have a small amount of personal debt (credit cards, car payments, personal loans) you may qualify. The additional benefits to a full doc loan are better rates, less stringent underwriting guidelines, and access to many more lenders.

Stated income loans for investors getting tough

Joe Davis (Indiana Commercial Realty) — Mon, 10 Mar 2008 04:48:09 -0700

Stated Income (Non Owner Occupied)In the past 30 days two more major lenders have eliminated stated income programs for investment properties all together. Although there are still sources for stated loans, they are becoming increasingly difficult to find and even more difficult to close. Lenders that still offer stated income programs for investors have become very strict, and in many cases if the loan is not structured perfectly it will be rejected. Guidelines are especially stringent for full time real estate investors and W-2 employees. Under current market conditions it would not be uncommon for other lenders to follow and limit or remove stated income products on investment properties for some time. Now is the time to act if you are investing using stated income loans.

Last day to get on the Do Not Call List... Here is the link

Joe Davis (Indiana Commercial Realty) — Wed, 05 Mar 2008 04:15:43 -0800

Today is the last day to get on the Do Not Call list. Here is the link if you haven't done so already and want to. https://www.donotcall.gov/

Financing investment properties .... Part 2

Joe Davis (Indiana Commercial Realty) — Tue, 04 Mar 2008 15:23:00 -0800

Things every investor should be aware of when financing investment properties As lending guidelines continue to become more stringent, real estate investors are facing new challenges everyday. It's now more important than ever to team up with a professional mortgage consultant that has an in depth understanding of lender guidelines and specializes in financing for investment properties. Rein Mortgage Company understands the intricacies of these guidelines as this is our primary business. 4. Appraisal Comparables Many lenders are now requiring up to two closed sales within three months and one closed sale within six months. They may also require comparable pending sales validating the market is stable. Rein Mortgage Company will gather comparable data to support value prior to having you pay for an appraisal. 5. Stated IncomeLenders are becoming increasingly cautious regarding stated income borrowers. Many lenders want to see three to four times the monthly stated income in reserves. Although these are unwritten guidelines and typically only six months PITI is required, it is the underwriter's discretion. This is especially relevant when stating income as a full time real estate investor. 6. Holding Title in the Name of an LLC or CorporationAlthough there are benefits to holding title in the name of an LLC or corporation, few lenders will allow it. Recently, some lenders are requiring the property being held in the individuals name for a minimum of 90 days before it can be refinanced. This is something to be aware of if purchasing property in a company name with the intent of refinancing it immediately. You should always consult with a qualified attorney or CPA regarding holding real estate in an LLC or corporation.

Financing investment properties ... part 1

Joe Davis (Indiana Commercial Realty) — Tue, 04 Mar 2008 11:19:12 -0800

Things every investor should be aware of when financing investment properties As lending guidelines continue to become more stringent, real estate investors are facing new challenges everyday. It's now more important than ever to team up with a professional mortgage consultant that has an in depth understanding of lender guidelines and specializes in financing for investment properties. Rein Mortgage Company understands the intricacies of these guidelines as this is our primary business. Below are some of the important things every real estate investor should be aware of. A more in depth list will be available in the upcoming Rein Report. 1. Loan to Value ChangesSome lenders have recently reduced their maximum loan to value guidelines. Some mortgage companies can still offer up to 90% financing for stated income investors, however as market conditions continue to deteriorate; this could soon become a thing of the past. With today's favorable interest rates, we recommend not waiting any longer to take advantage of these programs. 2. Title SeasoningThere are two main issues when it comes to title seasoning. The first involves refinancing an existing property to appraised value. Most lenders require 12 months on title in order to refinance a property based on current appraised value, however, there are still some products available for non-seasoned refinances. Secondly, the length of time the seller has been on title needs to be taken into consideration when purchasing a new property. Lenders will typically require that the seller has been recorded on title for at least 90 days; however, no seasoning is still available on a limited basis.3. Declining MarketsForeclosures are one of the driving forces behind most declining markets. There is no standard industry definition of what constitutes a declining market, and is within the lender's discretion to determine if the appraisal accurately reflects the current market value. If the lender determines the property is located in a declining market they may reduce the maximum loan to valve.

Down Payment Assistance beats HUD

Joe Davis (Indiana Commercial Realty) — Mon, 03 Mar 2008 15:14:07 -0800

For those of you have have been following the court case against Nehemiah (the downpayment assistance organization) and HUD, I just received this letter from the president of Nehemiah "We are thrilled with the Court's decision to support low-to-moderate income families across the country by ruling against HUD's attempt to ban private downpayment assistance. This is a major and conclusive judgment, leaving no uncertainty that downpayment assistance is a life line to the families that Nehemiah serves. It is heartening to see that the Court's arguments echo our sentiments and concerns. This decision preserves access and supports the use of sensible and reasonable approaches to homeownership for millions of working class families. It is a privilege to continue providing a helping hand to America's underserved families by building both safer communities and financial strength through homeownership. As we have said before, we look forward to working with HUD to support deserving families across the country." Great victory for everyone.

Light at the end of the tunnel

Joe Davis (Indiana Commercial Realty) — Mon, 03 Mar 2008 07:22:45 -0800

In my opinion... The light at the end of the tunnel is the market becoming aware of all the bargains out there. I foresee that this will be a great correction for many because the market has suffered so much that the swing to the other-side will be greater. When the buyers flood the areas that are in a drought, the market will bounce back. At the very least the good deal of foreclosures out there will be picked up by savvy people who can see the value rebounding. This is the time to buy low. Those days are numbered.

A must read....A Positive Start!!!

Joe Davis (Indiana Commercial Realty) — Sun, 02 Mar 2008 16:27:05 -0800

Here we are at the start of another week. Let's all make something great out of it! Here are a couple of sayings to get you start and pumped up!Zig ZiglarPositive thinking will let you do everything better than negative thinking will. POSITIVE thinking will let you do everything better than negative thinking will. W. Clement StoneThere is little difference in people, but that little difference makes a big difference. That little difference is attitude. The big difference is whether it is positive or negative. Vic Braden Learn to think like a winner. Think positive and visualize your strengths. Sidney Madwed If constructive thoughts are planted positive outcomes will be the result. Plant the seeds of failure and failure will follow. Robert H. SchullerIt takes but one positive thought when given a chance to survive and thrive to overpower an entire army of negative thoughts. Richard M. DeVosFew things in the world are more powerful than a positive push. A smile. A world of optimism and hope. A you can do it when things are tough. Pat RileyIf you have a positive attitude and constantly strive to give your best effort, eventually you will overcome your immediate problems and find you are ready for greater challenges. Norman Vincent Peale The person who sends out positive thoughts activates the world around him positively and draws back to himself positive results. Hans Selye Adopting the right attitude can convert a negative stress into a positive one. Elbert Hubbard Positive anything is better than negative nothing.

New home sales up! No kidding!

Joe Davis (Indiana Commercial Realty) — Sun, 02 Mar 2008 15:27:33 -0800

I was delighted to read in our local Sunday paper today that new home building permits are up to there third highest level in the last ten years! That's a blessing! Although Crown Point has been around for over a century, there is so much development springing up lately. Commercial is really booming as well. I don't know what the future holds but so far it's pretty bright!

Our town getting Johnny Depp movie? So very cool...

Joe Davis (Indiana Commercial Realty) — Sat, 01 Mar 2008 15:11:04 -0800

Well this was a neat little thing to come across in the paper yesterday. CROWN POINT | Johnny Depp, aka John Dillinger in the Universal film "Public Enemies," is hitting Crown Point this spring reportedly to reprise the gangster's bold 1934 escape from Lake County Jail. The scene will be shot on location at the Old Sheriff's House and Jail, 226 S. Main St., sources said. Universal declined to comment on specifics.Not everyday a neat thing like this happens. Have you ever had anything like this in your town?

My research turned into a question...

Joe Davis (Indiana Commercial Realty) — Fri, 29 Feb 2008 05:51:01 -0800

While researching areas across the nation, I noticed that the rental market in New York is huge. We've had a very strong market here as well. Partly because of the growth, the other part may be due to whole subprime mortgage mess. I spoke with someone in Colorado who is also seeing an extremely strong rental market. How are the other rental markets out there?

Is MSN right???? What's your take..

Joe Davis (Indiana Commercial Realty) — Thu, 28 Feb 2008 01:05:55 -0800

I hopped on the Internet last night and there it is again. Doom and gloom from our media mogul MSN. Although we've seen a change in the market the way builders approach business, such as the don't build an entire community and then expect buyers to just show up, I think we've been pretty steady. Now I mainly work in the investment market and see rentals very strong but I can contribute that to population and commerce growth so it's not a good comparable. So, I was wondering.... Is the sky falling in your market like "they" say it is?

28% Cash on Cash Return!!!

Joe Davis (Indiana Commercial Realty) — Wed, 27 Feb 2008 01:12:19 -0800

The mortgage market has sure been working in our investors favor! We found loans that get them a 28% cash on cash return on the investment properties we are offering in the FIRST YEAR! Most stock funds are trying to figure how bad their losses will be while our investors are raking in the money. It's nice to be on this side of the fence!

Let it snow, Let it snow

Joe Davis (Indiana Commercial Realty) — Tue, 26 Feb 2008 05:38:26 -0800

That's the beauty of the Midwest region! You get the all the seasons. Summer sun and winter snow. Today we are seeing our share of white stuff but not as bad as in other parts of the country. I heard that roofs are collapsing in Washington. Scary! Well, I guess that's why storage areas are even bigger here than in other places. People have so much stuff to cover all the seasons. We have pool supplies and snow toys. Stacks of sweaters and swimsuits. Great place to live!

Riley Fest

Joe Davis (Indiana Commercial Realty) — Mon, 25 Feb 2008 10:47:06 -0800

Ever been to Greenfield? Among it's new ammenities it's also known for it's old world charm. The Riley Festival is a celebration of the old poet that once lived there.The Riley Festival follows years of tradition by celebrating the birthday of the "Hoosier Poet", James Whitcomb Riley. Riley Festival is a showcase for a wide variety of talent that runs continuously Friday through Sunday. The Parade of Flowers on Friday features Greenfield-Central Elementary students and is over 60 years old. The Ameriana Riley Festival Parade on Saturday will have over 100 units participating. Several events take place during the festival. A donation fee shuttle runs from the Hancock County 4-H Fairgrounds to the east entrance of the Festival. It's a great time in a great place!

Just closed another one...

Joe Davis (Indiana Commercial Realty) — Sat, 23 Feb 2008 02:49:33 -0800

These investment propeties we are offering have been seeing a surge interest since that scary word "recession" came back louder than before. Have a safe cash producing place for your money is a must in these days. Contact me if you would like to learn more about the properties we offer.Joe DavisKeller Williams Commercial and Investment Real Estate(219)378-6054