Want to Be a RE Millionaire? Here Are 5 Metrics You MUST Master

you can turn $500 into a $1 million asset in 24 months with basic math. But in order to do so, you’ve gotta know your numbers – and the metrics.

View the full article: Want to Be a RE Millionaire? Here Are 5 Metrics You MUST Master on The BiggerPockets Blog. This content is Copyright © 2017 BiggerPockets, Inc. All Rights Reserved.

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$65M ‘World-Class Estate’ in Holmby Hills Is This Week’s Most Expensive New Listing

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A completely rebuilt “world-class estate” in Los Angeles, for $65 million, is this week’s most expensive new listing on realtor.com®.

However, it’s not exactly new to us. The magnificent mansion is a familiar face-having bounced on and off the market since 2011. The $65 million price tag hasn’t budged a bit, but it reappeared on the market this week. The mansion was built in 1938, and its listing is currently held by Kurt Rappaport of Westside Estate Agency.

The owners, interior designer Lauren King and Richard King of King World Productions, purchased the Holmby Hills property in 2001 for $15 million. Originally built for Ziegfeld Follies star Fanny Brice, the mansion was in need of modernization when the couple acquired it.

What was at first thought to be some minor updates became a top-to-bottom overhaul of the entire structure. The dated infrastructure needed to be completely rebuilt to handle any changes. The entire process-which maintained the exterior brick facade and original footprint while changing everything else-took five and a half years.

Holmby Hills estate

The renovated home kept the exterior facade.

Pool and sundeck

Outdoor lounge area

The result is a stunning and luxurious redo that was featured in Architectural Digest in 2011. The layout now includes eight beds, 14 baths, and 11,660 square feet of living space.

The white-brick Georgian traditional features a two-story entry, living room with high ceilings, screening room, wood-paneled library, a wine cellar, gourmet chef’s kitchen, and a “spectacular” master suite with dual baths.

On the grounds are a separate guesthouse, a pool and poolhouse with gym, as well as an additional private guest suite, lighted tennis court, plus flat lawns and gardens. 

The reason to put the custom creation back on the market? After the rehab and living there for some years, the couple were empty-nesters and wanted to downsize. “We overbuilt our dream house,” Lauren King told Forbes in 2013. “But I had a lot of fun in the process.”

Given that the price tag has never wavered from the $65 million asking, it seems that the couple may not be willing to go … unless the price is right.

The post $65M ‘World-Class Estate’ in Holmby Hills Is This Week’s Most Expensive New Listing appeared first on Real Estate News & Insights | realtor.com®.

How property managers can optimize building efficiency with big data

Using Big Data to Manage Building Efficiency | Buildium

Property managers know that when you save energy, you save money and improve your profit margins. Many do their best to track energy usage and employ energy-saving measures. However, tracking and reducing energy consumption is no simple task.

Big data has been a frequent buzzword in recent years, and it just might be able to help property managers to tackle these challenges. But what is big data, exactly, and how can it be leveraged to make your buildings more efficient? Let’s find out.

Using Big Data to Manage Building Efficiency

Adding Context to Big Data

‘Big data’ refers to the multitude of information we generate every day. Data is nothing new; but because we now generate it on such a grand scale, we can glean useful insights by tracking and analyzing it.

For example: Your energy bill gives you a rough idea of your energy usage each month. However, because of the number of unknown variables, that’s hardly enough information to inform large-scale changes. By comparing that information with historical data and other information, however, you can uncover trends.

Many property managers use energy-efficient equipment to reduce their energy bills. For example, Michelle Cooper, senior property manager at Property Management, Inc. says, “To manage energy costs, we make sure our heating and central air systems are as efficient as possible, we install energy efficient appliances into our properties, and perform routine preventative maintenance.”

But how do you know that any energy savings were the result of a more efficient HVAC system and not another factor, such as an unusually mild summer? By comparing your energy usage data to weather data, you can verify the cause.

Using Big Data to Manage Building Efficiency

Collecting Detailed, Immediate Data

If you want data that’s more detailed than your utility bills can provide, you can use big data technologies to get it. Advanced data collection methods can give you highly detailed and near-real-time information.

For example, you could install a building energy management system (BEMS) to automatically track your electrical, mechanical, and plumbing systems’ energy usage. You could also use sub-meters and sensors to track the energy usage of particular systems or appliances. Many utilities are now introducing smart meters that connect to the internet and enable immediate access to energy usage data. Connected appliances like smart thermostats can provide you with precise, localized data as well.

These technologies could help you to identify systems that are using comparatively high amounts of energy, or to quickly notice defects that are causing usage spikes and repair them. Some utilities companies also have programs to help you to manage and reduce your buildings’ energy consumption.

If you want more detailed energy usage information, you may be able to work with your utility company to obtain it. Some of them have programs to help you manage and reduce your buildings’ energy consumption.

Using Big Data to Manage Building Efficiency

Setting Actionable Goals & Verifying Value

Having access to big data enables you to set well-defined, actionable goals. Rather than a vague, hard-to-quantify objective like reducing your energy usage across the board, you can determine exactly how much energy you want to save, in what time frame, and in which areas.

Big data also helps you track your progress, which you can share with employees or residents to encourage them to continue to save in order to reach the desired target.

 Even when you do achieve your goals, however, if you don’t have access to detailed data, it’s sometimes hard to know whether your energy-saving initiatives were worthwhile. A lack of reliable data and the potential presence of mitigating factors can cause you to doubt the impact you’ve had.

However, when you track financial data in addition to data related to your goals, you can identify exactly how much your usage and costs changed, then determine which changes led to any savings you’ve achieved. This enables you to confirm the value of your energy-savings initiatives, which will help you to plan and justify future projects.

In addition to setting goals for your future energy usage, big data can help you to make energy usage a part of your business strategy by anticipating your future needs. Through data analysis, you can model possible future scenarios that include variables like increased occupancy, building expansions, the use of new technologies, and changing weather patterns. Then, you can plan financially and logistically to meet those needs.

Using Big Data to Manage Building Efficiency

Big Data for Big Savings

When it comes to managing data, the right technology for you depends on the amount and complexity of the data that you’re collecting.

If you’re gathering simpler data, such as monthly energy usage information, you can use a simple spreadsheet for tracking and analysis. For more detailed information, you may want to invest in software designed for data management or even, specifically, building or energy data management.


How can big data help you to optimize your buildings’ energy efficiency? Find out on the #BuildiumBlog!

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Whichever technologies and energy-saving initiatives you choose to implement, using big data to manage building efficiency can lead to big savings. Let us know how data has helped you to manage energy usage at your properties in the comments section below!

The post How property managers can optimize building efficiency with big data appeared first on Buildium.

Investors: Use “How,” NOT “Why,” If You Truly Want to Succeed at Negotiating

where-are-the-notes

We all feel natural in asking questions that start with the word “why.” But that question makes people feel like they have to justify themselves to you.

View the full article: Investors: Use “How,” NOT “Why,” If You Truly Want to Succeed at Negotiating on The BiggerPockets Blog. This content is Copyright © 2017 BiggerPockets, Inc. All Rights Reserved.

How Much Does It Cost to Move Locally in Colorado Springs?

Move Locally in Colorado Springs

Colorado Springs has an approximate population of 457,000 residents making it the second most populated city in Colorado. In 2016 Colorado Springs was ranked the 5th best place to live in the United States by the U.S. News and World Report list. For residents looking to move locally in Colorado Springs, we’ve crunched the numbers […]

The post How Much Does It Cost to Move Locally in Colorado Springs? appeared first on Unpakt Blog.

Moving from New York to Florida: Tips & Expert Advice

While it’s known as the home to Orlando, the “theme park capital of the world,” there’s much more to Florida than rip-roaring rides and the faces of familiar characters. From vibrant urban areas like Miami to awe-inspiring natural wonders like natural caves and the untamed wild of the Everglades, there’s never a dull moment in the Sunshine State.

Simply put, if you’ve been setting aside boxes for moving and are itching for a place to move, Florida is an excellent choice.

Are You Ready to Take on the Heat?

If you’re a tried-and-true New Yorker, it can be tough giving up your winter. At least, that’s how you might feel at the beginning of the season, before the reality of a fourth or fifth snowfall starts settling in. At that point, the Florida sun might seem like the answer to all your problems.

There are many genuinely compelling reasons to make the trek to Florida, but prepare to adjust to a different, more laid-back lifestyle than what you’re used to in New York. And of course, your New York friends might wonder why you’re choosing to leave behind the big city’s hustle and bustle. And while Florida has its fair share of fast-paced city living, it might make for a major change of pace from what you’re used to. That’s why your first step in all of this should be making sure this move is the right decision for you (and this handy guide should give you a good idea of what to expect). Once you figure that out, you’ll want to find the right moving company to make your transition as smooth as possible.

Cost of Living

The cost of renting an apartment in Florida will undoubtedly be cheaper than what you might be familiar with from living in New York, with a one bedroom on average going for around $1,150 a month. Plus, while the astronomical cost of buying a home in New York City may have left being a homeowner off the table for as long as you lived there, buying is an opportunity worth exploring in Florida, where an average sales price is in the ballpark of $200,000 (instead of in the millions).

Other costs, like utilities, are low when compared to New York, while the average cost of food is low in relation to the rest of the country. In any case, the more reasonable cost of living will mean you’ll probably have more space and more financial freedom to pursue new projects. Plus, Florida is a low-tax state, with no state income tax.

Public Transportation

While cities such as Orlando, Miami, Tampa, and Jacksonville are all served by public transit (whether that be Miami’s Metro Rail or Orlando’s Lynx bus system), getting a car is probably the preferred way of moving about in Florida. That said, South Beach, Daytona Beach, and Key West are all bicycle friendly, so don’t rule out rocking your biker bod on the beach once you’re all settled in.

Climate

When exploring a life in Florida, you’ll have to get used to the idea of sunshine and a generally warm climate on a year-round basis (that shouldn’t be too hard). Summers are long, humid, and very warm (with frequent thunderstorms keeping the temperature down in the evenings), while winters are milder, sometimes dipping into sweater weather territory.

In contrast to mainland cities like Orlando, the weather differs slightly on Florida’s coast (major coastal cities include Tampa, Jacksonville, and Miami), with comparatively cooler temperatures in the summertime (thanks to the shore breeze) and hotter temps during the winter. Overall, Florida weather doesn’t vary too wildly from place to place. The following cities reflect the differing weather all over the state.

  • Tallahassee – Situated inland in northern Florida, state capital Tallahassee is most susceptible to extreme cold and even snow (though these occasions are not common), with lows in the 30s during the winter but generally warm to hot weather year round (especially in the summer).
  • Jacksonville – Conditions in Jacksonville are similar to those in Tallahassee, as both are situated far north, but its coastal positioning means slightly hotter winters and mildly cooler summers than its neighbor inland.
  • Orlando – Situated pretty much in the middle of the state, Orlando can still get a little bit of the chill from the north (freezing temperatures are possible but uncommon), but the city is warmer overall throughout the year and especially during the winter. As we move toward the southern end of the state, rainfall averages are higher, especially in the summertime.
  • Tampa and St. Petersburg – Moving south along Florida’s western coast, these two destinations continue to bring the year-round Florida heat, tamed throughout the summer by the coastal wind.
  • Miami and West Palm Beach – As you approach the southern tip of Florida (where you’ll also find the Keys and Fort Lauderdale), the weather gets hotter, with more rainfall in the summer. As southern coastal cities, Miami and West Palm Beach heat up in the winter, while the breeze from the ocean keeps temperatures down in the summertime.

DMV

As Florida is definitely a driving state, you’ll need some wheels. If you own a car already, and are looking to drive it to your new home in Florida, you’ll have 30 days after establishing residency to transfer your license, title, and registration with the Florida DMV. You’ll also want to officially change your address, register to vote in your new state, update your organ donor status, and send your old license plates back to New York. The DMV website will provide a handy checklist based on your moving needs so you won’t miss any steps along the way.

Employment

People from all backgrounds, with or without education or work experience, should be able to find employment of some kind in Florida, especially when compared to ultra-competitive New York. Major industries driving Florida’s economy include agriculture, financial services, aerospace and aviation, and, of course, tourism (this is the “theme park capital of the world,” after all). Different cities offer differing markets (those looking to start working their way through the world of contemporary art, in either a creative or administrative capacity, should look into a move to Miami, home to a vibrant art scene and the Art Basel fair, for example).

Moving Tips and Things to Know

  • While packing for your new life, keep in mind that you can leave a lot of your heavy winter staples behind.
  • Move in the summertime instead of the winter to avoid the snowbirds (a local pet term for people from the north who spend their winters in the warmer climate).
  • There’s lots of available parking in Florida, and you won’t be required to have a special permit for parking a moving vehicle.
  • Try not to consume all of the good food and beverages in your new state at once (though fresh seafood, a local craft beer, and a slice of key lime pie would come pretty close if you wanted to try).
  • Find a great moving company, with exceptional cross country moving experience, like FlatRate.

The post Moving from New York to Florida: Tips & Expert Advice appeared first on Flatrate.

Boston Red Sox Star Hanley Ramírez Selling South Florida Home for $4M

Hanley Ramírez

Billie Weiss/Boston Red Sox/Getty Images

Red Sox first baseman Hanley Ramírez is taking a big swing at selling his Weston, FL, home for $4 million.

The Spanish-style abode sports eight bedrooms on one acre. The Dominican-born 34-year-old bought the 9,000-square-foot home when it was brand-new, in 2008. At the time, he was playing for the Florida Marlins, and he paid $3.95 million for the place, according to property records. If he sells for asking, he’ll break even.

But we’re in love with the place-we think the All-Star’s sunny home is a hit.

Hanley Ramírez's South Florida home
Hanley Ramírez’s South Florida home

realtor.com

Entry
Entry

realtor.com

Kitchen with terra-cotta ceiling tile
Kitchen with terra-cotta ceiling tile

realtor.com

Open living space with exposed beams
Open living space with exposed beams

realtor.com

Pool and patio space
Pool and patio space

realtor.com

Located in the guard-gated Windmill Reserve community, the Santa Barbara-style home is the only one in the neighborhood of its design, and comes with a separate guest suite and multiple entertaining areas.

The open floor plan features a living room, dining room, and two fireplaces. French doors open to the back patio. The chef’s kitchen contains chiseled-edge French marble, and terra-cotta tiles decorate the kitchen ceiling. Other highlights include a billiard-room, office or playroom, and a plush home theater with a poker room. The master wing includes custom-designed oversized closets. Other details of the residence include exposed beam ceilings, custom-built arches, and Brazilian hardwood floors.

Outside sports a pool, gazebo, and patio spaces that look out to a private preserve.

“What stands out the most is the Spanish-style resort pool right in the home’s backyard. There’s nothing like it in this area, with its imported Spanish tiles and intricate design,” says listing agent Giselle Bonetti of Coldwell Banker. “The fountain in the front of the home has the same imported tiles, tying the home together beautifully.”

The MLB All-Star has decided to relocate, but leaves behind warm feelings for his Weston digs. “We are extremely grateful to what the city of Weston offered us during our stay there,” Ramírez said in a press statement. “We truly loved our time in this home. However, as our children grew, they wanted to explore other activities, which led us to relocate. I pray the next homeowners are as blessed and grateful as we were in this home.”

Ramírez broke into the big leagues with the Red Sox in 2005, before being traded to the Marlins. The 2006 Rookie of the Year starred for the Marlins for six years, then spent a little over two seasons with the Los Angeles Dodgers before returning to the Red Sox prior to the 2015 season.

The post Boston Red Sox Star Hanley Ramírez Selling South Florida Home for $4M appeared first on Real Estate News & Insights | realtor.com®.