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Multifamily Real Estate Glossary

Multifamily Real Estate Glossary

What is warm shell condition in real estate?

A "warm shell" condition in real estate refers to a partially finished commercial or residential space that includes basic finishes like HVAC, walls, and lighting, allowing tenants to customize the final details to their preferences.

February 13, 2024

What are the best loopnet competitors?

Some of the top competitors to LoopNet in the commercial real estate space include Auction.com, Compass MLS, Realtor.com, PropertyShark, and Crexi​​. These platforms offer a range of services similar to LoopNet, catering to various aspects of real estate, from residential listings to commercial properties and auctions.

February 13, 2024

Do warehouses lower property value?

The impact of warehouses on property values depends on the interplay between their economic benefits and potential drawbacks, such as aesthetic and environmental concerns, varying widely by context.

February 13, 2024

What is PML in real estate?

PML (Probable Maximum Loss) in real estate refers to the estimated maximum loss a property could face due to seismic activity, expressed as a percentage of the building's replacement value.

February 13, 2024

What is a downleg in real estate?

In a 1031 exchange, the "downleg" is the property being sold by the investor, initiating the tax-deferral process by planning to reinvest the proceeds into a new property, known as the "upleg".

February 7, 2024

What does upleg mean in real estate?

In a 1031 exchange, the "upleg" is the replacement property purchased with the proceeds from the sale of the original "downleg" property, enabling the investor to defer capital gains taxes.

February 7, 2024

How to Do a 1031 Exchange into an Opportunity Zone

While a 1031 exchange allows for deferral of capital gains taxes on real estate by reinvesting in like-kind property, investing those proceeds into an Opportunity Zone requires utilizing a Qualified Opportunity Fund, offering distinct tax benefits, but both strategies can be independently utilized for tax optimization.

February 7, 2024

What is a construction 1031 exchange and how does it work?

A construction 1031 exchange allows investors to defer capital gains taxes by reinvesting proceeds from a sold property into a new property and using part of those proceeds for improvements within specific time frames, under strict IRS guidelines.

February 7, 2024

What is force majeure in real estate?

Force majeure is a contractual clause that exempts parties from fulfilling their obligations due to uncontrollable events like natural disasters, pandemics, or government actions, providing protection against penalties for non-performance.

February 7, 2024

What are the 3 phases of real estate syndication?

Real estate syndication combines investor capital to purchase and manage properties, moving from initial setup and funding to operation and profit distribution, guided by strategic planning and legal compliance.

February 7, 2024
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