Status: U Return-Path: Received: from whmx-nag.pas.sa.earthlink.net ([127.0.0.1]) by whmx-nag.pas.sa.earthlink.net (EarthLink SMTP Server) with SMTP id 1q4jAE3VX3NZFmC0; Mon, 28 Mar 2011 14:03:08 -0700 (PDT) Received: from mail115c38.carrierzone.com ([66.175.56.145]) by whmx-nag.pas.sa.earthlink.net (EarthLink SMTP Server) with ESMTP id 1q4jAD3Kx3NZFmC1 for ; Mon, 28 Mar 2011 14:03:08 -0700 (PDT) X-Authenticated-User: merilee.kerncommunications.com Received: from merilee07cf8a9 (wsip-68-15-13-44.sd.sd.cox.net [68.15.13.44]) (authenticated bits=0) by mail115c38.carrierzone.com (8.13.6/8.13.1) with ESMTP id p2SL32Ux026175; Mon, 28 Mar 2011 21:03:06 GMT Message-ID: Reply-To: "Merilee Kern" From: "Merilee Kern" To: , "Ryan Regina" , "Mike Regina" , "'Ed Willis'" , "Raoul Davis" , , Subject: HVACR Business Magazine Online Placement Date: Mon, 28 Mar 2011 14:03:06 -0700 Organization: Kern Communications MIME-Version: 1.0 Content-Type: multipart/related; type="multipart/alternative"; boundary="----=_NextPart_000_1043_01CBED50.DC5D4DE0" X-Priority: 3 X-MSMail-Priority: Normal X-Mailer: Microsoft Outlook Express 6.00.2900.5931 X-MimeOLE: Produced By Microsoft MimeOLE V6.00.2900.5994 X-CSC: 0 X-CHA: v=1.1 cv=+thaCxdWaVQha7c/3IphHUUOw9zdlfgwztQU9nnSiTo= c=1 sm=1 a=b8xtTL8KIYIA:10 a=OkTZCP_1vwgA:10 a=amoHW2/Lxk+JwdK3UfH89Q==:17 a=8EXIqm7GAAAA:8 a=kziYVIc7AAAA:8 a=EK0KP4OeV-7aPUuhVO0A:9 a=8BiIj5ZUMQXFXDGcyJkA:7 a=p3ZnGvD0kI-gKifrOr9MifTDGTwA:4 a=wPNLvfGTeEIA:10 a=lpoukpmP7gcA:10 a=lYocsiCLNoTs1cwd:21 a=trmaIr8KV1L4Q9ZD:21 a=SSmOFEACAAAA:8 a=MbE6T7vBgg1vmcLllggA:9 a=kHb5bOpXzMmjq1swKUcA:7 a=-Qbf2pAlpGPR556p7mDTlr_VVwcA:4 a=c_73WwNFziz74QQ1DLAA:9 a=WmPi7mhMnEYUxu_t8nI1abdiXFoA:4 a=1Vq_FK4TplAA:10 a=7U4vZLrhUrQtOoDn7igA:9 a=amoHW2/Lxk+JwdK3UfH89Q==:117 X-ELNK-AV: 0 X-ELNK-Info: sbv=0; sbrc=.0; sbf=00; sbw=010; This is a multi-part message in MIME format. ------=_NextPart_000_1043_01CBED50.DC5D4DE0 Content-Type: multipart/alternative; boundary="----=_NextPart_001_1044_01CBED50.DC5D4DE0" ------=_NextPart_001_1044_01CBED50.DC5D4DE0 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable http://www.hvacrbusiness.com/news/article/1718/benefits_of_building_in_a_= bad_economy.aspx Benefits of Building in a Bad Economy By Michael Regina, BIG SKY Enterprises There is no doubt these are extraordinary times. Highly volatile market = conditions and ongoing uncertainty have made it duly challenging for the = commercial construction industry and its trade partners. Amid the = current economic downturn, now may not seem like a good time to build - = especially in the commercial sector. However, while perspectives may = differ, there are many benefits of building in a bad economy, which can = present unique opportunities. The key is knowing what to look for and = maintaining a forward-thinking "visionary" mentality. =20 =20 "In any tumultuous period of change, the 'doom and gloom' set will = always find reasons to postpone building projects, but those who = actively seek the silver lining and closely assess timing-based = opportunities can gain significant advantages," notes Michael Regina, = owner of BIG SKY Enterprises (www.bigskyllc.com) - an industry leading = commercial real estate developer, design/builder and finance firm.=20 =20 Here are four favorable reasons to pull the trigger on a commercial = construction initiative during an economic downturn:=20 =20 1. Deeply Discounted Real Estate=20 The United States has seen property values for commercial real estate = drop 20-45% across the board. In the western states the decrease has = been even deeper. A good example is a recent deal on a piece of land = that was under contract in 2007 for $1.5 million. Eventually, that deal = fell apart in the development process for the previous buyer. Now, the = current price being paid for that same parcel is $800,000.=20 =20 The same goes for new office buildings that sold for $2.4 million in = 2008 that are now selling for $1.6 million in 2011. Even landlords are = doing everything possible to protect their portfolios - from giving away = free rent for a year to dropping rental rates to 2001 levels. Owners are = looking to reduce their losses. Consequently, this puts more power and = control in the hands of the buyer. Additionally, given the fact that = real estate owners are cash poor and looking to convert their assets, = there is a large supply of land and existing buildings on the market.=20 =20 2. Rock Bottom Interest Rates=20 It may be difficult to remember the last time commercial interest rates = were this low. It was, in fact, approximately 20 years ago, dating back = to the early 1990s. Comparative analysis on new commercial interests in = certain markets shows that, today, it is cheaper to own a building than = to rent, opting to forego paying someone else's mortgage when rates are = so low. Like owning a house, commercial real estate should also be = viewed as a long-term investment where it doesn't make sense to just = throw money at a landlord each month. In today's market, it's a great = time to buy and build. =20 =20 3. Streamlined Processes=20 Despite downturns, one thing that is full steam ahead is streamlined = processes. Even five years ago, it seemed to take a lifetime to get any = new project approved through various local, county and state governing = agencies. This is definitely not the case today. Now, it appears that = these same agencies are starving for fees and are desperate for new = projects, when one bears in mind that the fees new development brings = support many of these agencies.=20 =20 It's not uncommon for townships to call construction firms inquiring = about new submissions. These agencies need to support the departmental = staff who process project paperwork and are eager to know what's in the = minimized pipeline. The combination of technological efficiencies and = eager reporting agencies have swung the pendulum back in the favor of = construction companies who used to be at the mercy of the paperwork = bottleneck. In a slow economy, there is a greater ability to control = more parts of the process in relation to agencies, which makes it a = great time to build. =20 =20 4. Reduced Cost of Labor, Materials and Services=20 The law of economics states that when there is an excess supply of any = good or service the cost of that good or service will drop. This is the = case with the cost of labor, goods and professional services. Various = trades are constantly seeking work from any projects that can be = generated during this downturn. This was quite different in 2006 when = these same companies were turning down work just as fast as they were = growing business with the surplus work they already had. Today, = companies are willing to cut their prices in order to keep their = employees, resulting in decreased labor and services costs.=20 Michael Regina is the co- founder and owner of BIG SKY Enterprises = (www.bigskyllc.com) - an industry leading commercial real estate = developer, design/builder and finance firm that strategizes, executes = and oversees every aspect of a project development life cycle to provide = clients with single professional contact-point control.=20 ------=_NextPart_001_1044_01CBED50.DC5D4DE0 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable
http://www.hvacrbusiness.com/news/article/1718/= benefits_of_building_in_a_bad_economy.aspx
 
 

Benefits of Building in a Bad = Economy

By Michael = Regina, BIG=20 SKY Enterprises

 

There is = no doubt=20 these are extraordinary times. Highly volatile market conditions and = ongoing=20 uncertainty have made it duly challenging for the commercial = construction=20 industry and its trade partners. Amid the current economic downturn, now = may not=20 seem like a good time to build =96 especially in the commercial sector. = However,=20 while perspectives may differ, there are many benefits of building in a = bad=20 economy, which can present unique opportunities. The key is knowing what = to look=20 for and maintaining a forward-thinking =93visionary=94 mentality.=20   

  

=93In any = tumultuous=20 period of change, the =91doom and gloom=92 set will always find reasons = to postpone=20 building projects, but those who actively seek the silver lining and = closely=20 assess timing-based opportunities can gain significant advantages,=94 = notes=20 Michael Regina, owner of BIG SKY Enterprises (www.bigskyllc.com) =96 an = industry leading=20 commercial real estate developer, design/builder and finance=20 firm. 

  

Here are = four=20 favorable reasons to pull the trigger on a commercial construction = initiative=20 during an economic downturn: 

  

1. = Deeply=20 Discounted Real Estate 

The United = States has=20 seen property values for commercial real estate drop 20-45% across the = board. In=20 the western states the decrease has been even deeper. A good example is = a recent=20 deal on a piece of land that was under contract in 2007 for $1.5 = million.=20  Eventually, that deal fell apart in the development process for = the=20 previous buyer. Now, the current price being paid for that same parcel = is=20 $800,000. 

  

The same = goes for new=20 office buildings that sold for $2.4 million in 2008 that are now selling = for=20 $1.6 million in 2011. Even landlords are doing everything possible to = protect=20 their portfolios =97 from giving away free rent for a year to dropping = rental=20 rates to 2001 levels. Owners are looking to reduce their losses. = Consequently,=20 this puts more power and control in the hands of the buyer. = Additionally, given=20 the fact that real estate owners are cash poor and looking to convert = their=20 assets, there is a large supply of land and existing buildings on the=20 market. 

  

2. = Rock Bottom=20 Interest Rates 

It may be = difficult to=20 remember the last time commercial interest rates were this low. It was, = in fact,=20 approximately 20 years ago, dating back to the early 1990s. Comparative = analysis=20 on new commercial interests in certain markets shows that, today, it is = cheaper=20 to own a building than to rent, opting to forego paying someone else=92s = mortgage=20 when rates are so low. Like owning a house, commercial real estate = should also=20 be viewed as a long-term investment where it doesn=92t make sense to = just throw=20 money at a landlord each month. In today=92s market, it=92s a great time = to buy and=20 build.   

  

3. = Streamlined=20 Processes 

Despite = downturns, one=20 thing that is full steam ahead is streamlined processes. Even five years = ago, it=20 seemed to take a lifetime to get any new project approved through = various local,=20 county and state governing agencies. This is definitely not the case = today. Now,=20 it appears that these same agencies are starving for fees and are = desperate for=20 new projects, when one bears in mind that the fees new development = brings=20 support many of these agencies. 

  

It=92s not = uncommon for=20 townships to call construction firms inquiring about new submissions. = These=20 agencies need to support the departmental staff who process project = paperwork=20 and are eager to know what=92s in the minimized pipeline. The = combination of=20 technological efficiencies and eager reporting agencies have swung the = pendulum=20 back in the favor of construction companies who used to be at the mercy = of the=20 paperwork bottleneck. In a slow economy, there is a greater ability to = control=20 more parts of the process in relation to agencies, which makes it a = great time=20 to build.   

  

4. = Reduced=20 Cost of Labor, Materials and Services 

The law of = economics=20 states that when there is an excess supply of any good or service the = cost of=20 that good or service will drop. This is the case with the cost of labor, = goods=20 and professional services. Various trades are constantly seeking work = from any=20 projects that can be generated during this downturn. This was quite = different in=20 2006 when these same companies were turning down work just as fast as = they were=20 growing business with the surplus work they already had. Today, = companies are=20 willing to cut their prices in order to keep their employees, resulting = in=20 decreased labor and services costs. 

 

Michael Regina is=20 the co- founder and owner of BIG SKY Enterprises (www.bigskyllc.com) = =96 an industry=20 leading commercial real estate developer, design/builder and finance = firm that=20 strategizes, executes and oversees every aspect of a project development = life=20 cycle to provide clients with single professional contact-point=20 control. 

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