Another Potential Real Estate Obstacle in Florida Could Go Well Beyond

 We may all need to face the fact that the real estate industry as we know it is on its way to drastic changes which could impact hundreds of thousands of jobs. Florida has brought many real estate opportunities over the years both nationally and internationally. People move in, people move out, and everyone from short-term rental landlords to developers to retiring consumers have been able to participate and take advantage.

 

Many licensed real estate professionals work relocations and/or have a license in more than one state. Meanwhile, recent natural disasters have left billions of dollars in work to be done while fears of what insurance companies can, can't, and won't do have many people up in arms.

 

Now we have word that the current Florida real estate licensing structure may no longer stand as it has been. Even the 225,000 licensed professionals in the State may not be able to stop proposed legislation.

 

If it happens in Florida, there is no telling how it would impact transactions involving out of state real estate licenses. Consider the chaos which resulted from the change in buyer commission structure last year, and how elements of the industry still need to recover from that.

 

This news may, in the long run, be a much bigger concern than rates and the current economic battles:

 

Challenges for Florida Real Estate

 

 

How Did Seven Companies Know To Bid On A Housing Conversion?

Over the years I have come up with questions to ask real estate professionals and investors when I am curious about how "smart" they are willing to work. It comes from the saying, "Work smarter, not harder". 

 

Sometimes I ask questions like, "Who handles your research?" to bring up how important research is toward uncovering opportunities and for long term planning. Another question is "When is the next local Zoning Committee meeting you plan to attend?"

 

You could be in the thick of a new project, but that should not stop you from attending (or sending a trusted representative) to zoning meetings in municipalities your work includes. The one time you find out something that your competitors don't know out of five meetings you attend could literally be the "million dollar difference" for you and your team. If a group of competitors also "know", you will be in the running.

 

Here is a prime example. The city of Menlo Park CA announced an opportunity for converting parking plazas to affordable housing. They received SEVEN applications. Those entities have a one in seven chance of being selected for a large project. However, there are entities, some of which may be a better fit, that will have a ZERO percent chance because they were not ready for the opportunity.

 

In the Menlo Park situation, there are seven applicants. If there was one application, that company gets a big project in part because they took the right steps to pursue it while competitors did not. Because they had the right research in place, six or seven figures could be added to their bottom line.

 

Who handles YOUR research?

 

https://sfyimby.com/2025/04/menlo-park-opens-three-downtown-parking-plazas-to-affordable-housing.html

 

Finding The Best Amenities Matters

Buyers and renters look for certain amenities, while sellers and landlords look for amenities which could give them advantages over 'competing' properties. The "hidden" features can make a difference in the choice of a potential buyer or tenant that others on both sides of the transaction would not think about.

 

A tenant might be willing to pay $20 a month more for a unit with extra built-in shelves which could hold their book collection. Someone using a walker might prefer the unit next to the elevator instead of the quieter one at the far end of the hallway. In this day and age where customer service continues to fade into oblivion, knowing the 'particulars' of the potential buyer or seller could be a difference maker in getting a deal done.

 

An investor I know that has his real estate license will access similar properties on the market to compare those amenities against what he currently has (or plans) for a property his team is about to fix up or renovate. He knows that he will be competing for some of the same potential buyers or tenants that will be looking at those other properties. His goal is to be able to tell them things like, "You won't find A or B in any other currently available property" or "This unit has the biggest closet in West End". It could be he finds another unit using "cheaper" tile and being something he can pick up on for his benefit.

 

It's a two-pronged process to be ready in these situations. Knowing as much as possible about competing properties is one element, but knowing what the "customer" wants is another. Each property, even if in the same building or within the same development, is or can be made to be unique. Same with each potential buyer or tenant.

 

Knowing how to uncover that information brings success.

 

https://www.realestatenews.com/2025/04/11/renovations-that-attract-buyers-and-maximize-roi-for-sellers

 

 

When A "No Comment" Makes It Worse

My having worked on marketing with real estate agents, brokers, developers, and investors for more than 30 years helps me (and, consequently, my valued clients and students) to readily identify marketing opportunities even when there aren't any.

One of the most important things to do is to be ready to turn a negative in to a positive no matter how many of few years of experience. There are times when things do not go as hoped or as planned, especially in real estate. The news article below describes one such time, in which a multi-million dollar property sold for over $400,000 LESS than the asking price and below a sales price from 2013. (This sale occurred in the Fall of 2019.) 

The article about this property sale appeared in the Chicago Tribune, which remains one of the largest newspaper publications in the country. It so happens that the reason for this story is that the 'featured' home was once owned by a former Head Coach of the Chicago Bears. 

However, this sale of the house had nothing to do with the former coach, who did rather well with buying and selling the property earlier in the decade.

The "negative" in this story is the report that the home sold for $400,000 under the asking price and for less than it did in 2013. (This is only one example, since we know this continues to happen today.)

Within the story it is noted that the agent, Paige Dooley, "declined to comment". This is exactly where an agent needs to turn that negative into a positive. Trained journalists know to report the specific results of attempts to contact an individual for a story. Frankly, declining to comment is the worst thing she could have done. Declining comment infers that Paige had nothing to say about this story. 

It is as though she is admitting that she did not do well for the sellers and wanted this story to go away. There are likely to be potential home sellers reading this story that would be less likely to consider her for selling their home because she gave NO explanation for a deal that was not what it should have been for her client.

I try to advise my clients and coaching students about looking for the benefit of outside publicity. Dooley had the opportunity to be quoted in the Tribune, at no cost, and could have turned that in her favor. Chances are she spends marketing dollars on social media and advertising of her services. Positive publicity in this newspaper and its web site would normally cost a large amount.

What she should have done is commented about how "This home is one of many great opportunities for buyers in Winnetka to secure a great deal!". Had she done so, she would have pointed out how this buyer got a home in 2019 for less than it cost in 2013. Such a quote would have made readers of the story think that if they contacted her, she would help them find a good deal.

By declining to comment, she put out only a negative impression. To me, this was a 'double' negative. The first is that there are no reasons for a potential buyer or seller to contact her. The second reason is that the reporter is not likely to contact her for a future story, meaning she lost her chance.

Do not decline comment and lose out on publicity. Be ready with a positive spin. I can't help but think about how much her income would have increased if I had been her marketing and/or research person.

https://www.chicagotribune.com/real-estate/elite-street/ct-re-1206-elite-street-trestman-20191206-cyn6hmvijbd5xbysxsnnjlhb3u-story.html

If They Can't Afford To Buy - Be Ready With Rentals

Population figures prove that people continue to want to live in locations which have much higher than average home prices, making it more challenging for many to buy a home where they choose to be. People have various reasons for choosing not to buy in those situations.

 

Some people choose not to buy at current higher prices because they expect prices to drop at some point in time to make buying a house more affordable (or realistic) to potential buyers. If they "buy high" they could be stuck a few years from now when considering selling. Other people don't have what it takes to get a down payment done at higher prices.

 

If you own one or more "older" properties, especially with plenty of equity, this figures to be a great time to rent them. Based on home prices, you could be able to command a much higher rent rate than in previous years and ride the "increased profit" wave for as long as you can. 

 

The research in the below linked article shows ideal income levels by state when it comes to buying a home. That info could be a big help when it comes to planning rental properties. People that are "waiting on the market" could make ideal tenants. Show them how you are saving them the down payment and allowing them to live where they would like.

 

It is not always only about the property. Offer the benefits and the opportunity. Let's work together for mutual success!

  

 

https://www.livenowfox.com/news/how-much-you-need-afford-home-us

Create Your Own Bid On A Property

Another instance of how far doing your research homework could take you is in this scheduled upcoming auction in Florida. Two luxury condos are hitting the auction block for just over one-third of their current estimated value. Even if renting them out is not allowed, there are several exit strategies to choose from even if competing bids take the purchase price to 60%. 

The first step is to find out as much as possible about each unit, especially why they are going to auction instead of being listed in the traditional way. Although in the same auction setting, the reasons may be different for each unit and make one more attractive to bidders than the other. However, if that happens, it can be worth exploring both opportunities separately. Why?

If one opportunity has a clear lead over the other, the first one may attract the majority of bidders. Having little to no competition for the “second” condo could result in an even better deal. The hundreds of thousands of dollars potentially saved without competitive bids could cover the added costs of preparing a property for the chosen exit strategy.

Creative strategies may be able to be implemented upon acquisition. For example, if these condos cannot be rented out, perhaps a “rent to buy” situation could skirt the issue. (I don’t know in the case of these properties, but it should be part of the research to find out.) If not, there are likely several seller financing options to increase the profit potential. 

Sometimes it is worth bidding (if you have the resources available) to be able to get the results and eventually find out who the winning bidder is and what their eventual strategy is or was. That is the type of information that becomes valuable for future auctions and potential purchase situations in the same property or area.

As my clients and students know, the majority of the opportunities you research thoroughly do not pan out. The value of knowing exactly why they did not pan out and comparing it with the eventual results of the deal can prove well worth the time investment over the long haul. Let me show you how.

 

https://www.einpresswire.com/article/799525095/two-waterfront-sarasota-fl-properties-to-be-sold-at-online-auctions-beginning-april-14th

 

 

When One Bidder Gets A 60% Discount On A Property

There is no denying that there are some problems and concerns with some aspects of the real estate market. That should not mean that a real estate professional or investor should not continue to constantly research for current and future opportunities. An airplane needs enough fuel to reach its destination regardless of the number of passengers. 

We had a recent situation in which a (literally) billion dollar asset, the biggest office building in Boston, was sold at auction for 40% of its estimated value. It remains to be seen how the property will be utilized as rumors swirl about conversion to mixed use or various forms of repurposing. Clearly, by spending $400 million to acquire a discounted property, the buyer has research and information leading them to a vision of long-term profit potential.

From my viewpoint, the large purchase and the 60% “discount” the buyer engineered is actually not the most significant part of the story. According to the recap article, the winning buyer was the ONLY bidder. We may never know if there were no other bidders because of the large sum of money needed or if other realistic potential bidders had non-financial reasons for passing on the property. 

Meanwhile, the winning bidder obviously has research indicating the potential for making a $400 million investment work. Had there been other bidders, they may have had to go higher, or perhaps drop out of the bidding, depending upon their research.

The fact that there was only one bidder is what stands out in this situation. An offer of slightly under half price might have outbid this buyer to acquire a property at a bargain rate. Let this serve as a lesson about missed opportunities. We won’t know for sure for a few years, but, as the saying goes, you miss 100% of the shots you don’t take. 

https://bostonrealestatetimes.com/400-million-bid-wins-foreclosure-auction-for-one-lincoln-office-tower-in-downtown-boston/ 

 

 

 

Turning Real Estate Problems Into Opportunities in Florida and California

Some real estate investors, developers, and brokers see sales and market trends that are down and shy away from the impacted area. Others see them as a reason to explore the future potential. A case can be made for either decision. 

 

Meanwhile, some people and teams are in it for "today", while others prefer to look toward the long term when it comes to real estate decisions. Making a transaction based on the exit strategy could mean the "payoff" is years away or months away. Real estate is often a cycle. Right now, there are a lot of questions about Florida and California because of recent major natural disasters. Concerns about rebuilding are heightened because of significant insurance costs and how they are likely to add to a new real estate venture. 

 

However, insurance risks simply can't stay high forever. It may take a few years, but you can't tell us that parts of Southern California and Florida will be abandoned and without rebuilding while insurance companies sit back and do nothing about it. Simply put, there may be opportunities right now that won't be there in a few months or years. 

 

Over the past couple of years, many investors have taken a pass on commercial and residential deals because "rates are too high". Others have taken advantage of those deals knowing that they could refinance when rates finally drop.

 

Right now, there are opportunities to acquire properties and land for rebuild and development in Florida and California that won't be there down the road. Some displaced residents and businesses are still looking for their next property. Opportunities are there for those that know to create them.

 

Research I have done for my valued clients and connection (and myself) allows me to create long-term strategies which benefit investors, developers, and other real estate professionals. For example, I have a "100% Funding on Vertical Construction" Program for residential properties with horizontal in place and using the land as collateral. I have an approved and highly experienced builder ready to participate. I'm aware of land parcels available right now that would be an ideal fit. Some investors know that conditions will change in those states and areas, whether sooner or later, and they could be in great shape when they do.

 

Opportunity is knocking. Let's connect!

 

https://floridapolitics.com/archives/729964-south-florida-home-sales-prove-dismal-in-march/  

No Waiting For Office to Apartment Conversions - If You Know How and Where to Look

Converting unused office space can be a great opportunity for commercial property owners and investors, while providing plenty of work for contractors, brokers, lenders, designers, and other services related to real estate transactions. From what I'm seeing, it appears to make a difference which municipality you are considering for making a conversion happen.

 

Some cities are looking to regulate conversions to the point of helping with grants and tax incentives. Other cities are trying to regulate rental costs or the exact type of build(s) allowed. Stamford CT is an interesting example of what can happen. The city is not offering any grants, tax incentives, or advantages, but several developers are doing conversions anyway. Although the demand appears to be there to support the need for housing over office space, some cities are more concerned with controlling rent than with providing needed housing. 

 

It is likely that municipalities making it more challenging will lose out to others that are making it easy. This situation is another example of how and why research and having the best information can make a huge difference when it comes to real estate.

 

My team and I are here to help you and your team create the best possible opportunities!

https://propmodo.com/how-cities-are-turning-empty-offices-into-housing-and-what-it-really-takes-to-make-it-work/

 

 

Tracking Current and Potential Tenants Is The Lease You Can Do

When it comes to working in real estate, the quest should be to have better information at your fingertips than your competition and people you are negotiating with. Before the numbers work, the concept has to work. 

The article linked below focuses on how the one-time leader among “family” multi-location steak restaurants has lost its lead, and to which establishments it did. Outback is no longer the leader, while Texas Roadhouse has, statistically, taken over. Unfortunately, we have seen this movie before. A leading business starts a decline and in today's business world, does not recover and winds up in bankruptcy. This is not to say that Outback will wind up that way, but plenty of restaurant chains have. 

Whether a real estate developer, broker, contractor, lender, or investor, you want to associate with a leader on the rise whenever possible. Keep track of trends which could impact your bottom line. If I was currently leasing space to Outback, I would start looking for potential “eventual” candidates now and make or continue contacts. If I have space to lease to a restaurant chain, I would consider Texas Roadhouse, or another chain on the “way up”. Years from now, it could mean a lot to your wallet by doing constant research.

 

https://www.cnn.com/2025/03/28/business/outback-steak-texas-roadhouse-longhorn/index.html