Thursday, February 27, 2020 / by Vanessa Saunders
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems
Last November 5th, we reported the opening of Aldi's new grocery store in Nanuet. Aldi is a German-based grocery chain which is known for its tighter-than-bark-on-a-tree strategies to save money (like the 25-cent shopping cart rental scheme and not offering shopping bags). Such penny-pinching has allowed Aldi to undercut even Walmart's margin-thin grocery prices.
Today, the Rockland County Business Journal reported plans for another German-based grocery hoping to open in Rockland County. Lidl, a grocer with 10,000 stores across Europe and 77 in nine US states is planning to open a location in the Tappan Plaza center on Route 303 in the town of Orangetown.
Lidl stores are generally smaller than most of its U.S. competitors, averaging 20,000 square feet with six aisles. Like Aldi, approximately 90% of Lidl's merchandise will be house brands, including fresh and frozen seafood, fresh produce, baked goods ...
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Wednesday, January 29, 2020 / by Vanessa Saunders
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems
Are you thinking about taking out a mortgage to purchase a rental condo in that hot new neighborhood across town? Has a co-worker you know funded their summer vacations with a dedicated AirBnB? Would you like to set up your own, and do you see yourself owning a commercial property? In other words, are you ready to become a landlord?
Before you become personally responsible for decisions that will impact the success of your investment, consider the following questions before you jump into that landlord suit.
1. How much money do you need to get started?
Buying a property directly — land, building and all — either for rental or resale can be an expensive prospect. Plus, many such projects involve some improvement work, renovations and repairs. And don't forget ongoing costs, including property taxes, insurance and mortgage insurance.
2. Should you take on a debt position in your purchase, or do you wi; ...
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Wednesday, October 30, 2019 / by Vanessa Saunders
A report just out from the Consumer Federation of America slams real estate brokers for failing to be forthright and transparent about how much in commission they charge their brokerage clients.
According to Inman News, the nation's leading real estate news service, "The report is based on a survey of 2,000 Americans, as well as conversations with 200 agents located in 20 metros and an analysis of 263 agent and broker websites across four markets.
According to the study, only 32 percent of Americans know an agent’s typical commission, which it claims is 4 to 6 percent of the selling price. Of the 453 respondents who’ve bought or sold a home within the past five years, only 44 percent knew the typical commission."
The CFA maintains that “the U.S. Department of Justice can increase cost transparency by investigating the buy-side commissions to which home buyers do not have access, and it appears to be doing so.”
In our opinion, this report is unfair and in m. ...
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Monday, October 21, 2019 / by Vanessa Saunders
When hiring a REALTOR®, be sure he or she is skilled in the type of property transaction you intend to make. The truth is, different real estate dealings come with different regulations, and if your agent isn't an expert in the type of transaction you're conducting, it could come back to bite you not only during the transaction buy down the road as well.
Here's a real-world scenario as related to us by Pearl Insurance, our risk management specialists, in which an agent well-versed in residential sales decided to venture into commercial sales and ended up being sued.
THE SITUATION
A real estate agent with a successful background in residential sales received a request from a light manufacturer to help locate a new business space to rent. The agent had been selling residential homes for over 30 years, and he welcomed the opportunity to finally put his commercial real estate knowledge to use.
THE PROBLEM
The agent was considered an expert in residential transactions ...
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Thursday, September 19, 2019 / by Vanessa Saunders
What better time to pack up and head to sunny Italy! A bill that included very generous tax incentives for people interested in relocating to Italy has been made into law. The ‘Decree of Growth’, also known as the ‘lavoratori impatriati’ regime, is aimed at any type of worker, regardless of their qualification or skill level. It expands on the previous version, which only included managers, executives and entrepreneurs.
Passed under ‘Law 58’, the decree reduces the amount of taxable income to just the first 30% of the worker’s employment income for the first five years. This leaves that 70% that a worker can keep tax free. And that's just for starters.
If an individual chooses to relocate to southern Italy or to the islands of Sicily and Sardinia, the incentives would be even greater. Taxable income for those new residents is just 10% in the first five years – meaning that 90% is untaxed.
Buy a house or have a dependent child and the ...
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