Are You Ready to Move Your Home Business to Retail Space?

If you live in New York City, there seems to be an increase in the amount of people taking the leap to become entrepreneurs and business owners. At the same time, you’ll notice that just when you wanted to visit that new shop or restaurant, they've already closed down. Renting space for your business is not something to be taken lightly. Your business plan needs to factor in every expense, have the funds to embark on this investment, and have realistic goals. Most entrepreneurs start working form home, when you are ready for more space to conduct your business, There are three types of spaces to consider:

1. Retail where you are visible on the street

2. Private office space in a building 

3. Communal spaces that you share with other businesses, but serve the purpose of having a meeting point with clients or business partners. 

Prices are different in each neighborhood and vary depending on the class of the building, location, and curb appeal. Here are my top 5 Keys To Succes

1. It’s better to start on a small scale and upgrade if needed, rather than start big and realize you aren’t making the revenue to pay the rent. My job is to stay on top of pricing trends and know the inventory, there have been so many times that I know the rent on a space and I know there’s no way that the product being sold can cover it. 

2. Do your homework and research on similar businesses and if there is any competition where you are setting up. 

3. You're going to need to show the profit your business is making and how much money you have in savings by providing tax returns, bank statements, sometimes a letter of certification from your accountant, as well as, having your credit and background checked. Just when you think you qualify, you may not look like a strong candidate to the landlord and they may ask you for extra months of security deposit and/ or someone else to co-sign and provide more financials. 

4.Once approved and you're negotiating a lease, make sure you get a “good guy clause”. This clause can prevent you from being responsible for the rent of the entire length of the contract if you go under, with the caveat that you will vacate the space to allow the landlord to rent it out. 

5.Pay attention to the yearly increase percentage. Have it explicitly state if real estate taxes and electricity are included or separate. The landlord may not be increasing the rent, but if real estate taxes go up- that may be your monthly responsibility, and they are not cheap. 

If you have any questions or would like to learn more, we offer complimentary consultations.

Email: @luxeurbanlife@nycasagroup.com

What You Need to Understand About Real Estate in 2018

The NYC real estate market is fast paced, competitive, and requires extensive qualifications. There's usually a shock factor when New Yorkers that haven't moved in a long time find out whats expected. For people moving here for the first time, they think they're going to have their identity stolen because "back home" they could get any apartment just by having the money. So here are some points to clear up some misconceptions and get you on the right track.

• Real estate agents are not tour guides. You have to know the neighborhood you want to live in and then we can show you apartments. We can’t show you apartments in each neighborhood you heard might be cool to live in. There are literally thousands of apartments in our database. NYC is also a competitive market and you have to move quickly if you see a great apartment with the right price. It would make no sense for us to show it to you if we’re going to take days to see apartments in other neighborhoods. By the time you realize the first one was the one you wanted- it will be gone. 

• Fix your credit now. It will save you money. If you don’t have good credit, most landlords will deny you. If you’re lucky, they’ll let you rent, but will ask for many months extra of security. If you’re seeking a mortgage to buy, the interest rate will be lower and better if you have good credit. 

• Stop asking about rent to buy. That doesn’t exist in NYC or any strong market. Someone will always lose. Real estate is like the stock market. The pattern is in waves. Either the seller will realize they can get much more or the buyer will realize they can pay much less, than the original agreement. In 15 years, the only time we’ve seen this mentioned in NYC was after the stock market crash and banks were not lending money. It was briefly used as an incentive to get people moving, but we never saw one actually go to a closing. 

• Can you purchase a home with no money down? Our biggest volume of sales in NYC are in co-ops and condos. These buildings have a required 10-20 percent down for you to be considered. If purchasing a house, you could get an FHA loan with 5 percent down. However, they have income restrictions and a list of other guidelines you’d have to fit into. And even if you found 2 unicorns- a home and a lender that would sell to you with zero down- we don’t advise it. It’s a disaster waiting to happen. A house comes with so many responsibilities. You’d be financially responsible for every utility. (When you’re renting or in a co-op you don’t realize how expensive water and oil are because you’re not getting that bill every month) At any moment, something within the home can break, you could have a leak, flood, cracked sidewalk, crack in the roof or exterior. So when you tell us you don’t have money to put down, you also don’t have money to take care of an issue that could arise. We would advise you take advantage of some of the programs the city has to get into affordable housing. Put yourself on a waiting list. Or make a temporary sacrifice to save money- move back in with your parents, shack up with friends, give up your shopping habits, cut back, and start saving for that down payment! 

• If you are a home owner with rental units- invest in upgrades. Spend money on appealing finishes, such as, stone countertops, stainless steel appliances, refinishing floors. It will rent for a higher price and move off the market faster. We can work with you to choose styles that are neutral and long lasting. And we have a discount program that you can use to purchase appliances and electronics.

• Plan ahead of time for your move date- on rentals it’s a fairly quick process. We’ve been able to get people approved in an hour when they’ve had all their paperwork, money ready, and the landlord was available to review. Most common, it’s usually a couple of days. However, there have been a few instances where it’s taken up to a couple of weeks either because the renter was not prepared and had to gather all of the required documents or it was a holiday and the people in management who approve where unavailable. In sales, it’s at least one month, but can take up to 3 (without any problems). The latter is usually when purchasing a co-op and we need to schedule a board interview and wait for the response. If we submitted an application and just missed their interview day, we will have to wait until their next scheduled meeting, prolonging the process. 

If you are thinking of moving, know you need to move, or having a tenant moving- reach out to us so we can advise you on what you should be doing for your specific situation. We offer complimentary consultations at our office or your home. We’ll give you advice based on your needs and explain what we can do to assist you or point you in the right direction and put you in touch with other professionals you should consult with. You can send an email to luxeurbanlife@nycasagroup.com If you would like to purchase a home and don’t know how much of a mortgage you could get, you could contact Ruben from Chase bank for a pre-approval by emailing segundo.guallpa@chasebank.com or calling (347) 414-3112

Spring Home Rejuvenation

It finally feels like Spring here in NYC and its an invigorating feeling to have the sun beaming into your home! Now is the time to clean, organize, to bring new energy into your space. These are the easiest tips we have to shake out the winter dust! They also work great for when you’re putting your home on the market for rent or sale.

Clean

• Dust, vacuum and wet wipe everything down. Rugs, throw pillows, and curtains should be laundered. All mirrors and metal polished. Wax wooden furniture. Our favorite cleaner is Mrs. Meyer’s in lavender scent. It’s non-toxic to the environment, works well, and smells delightful. To maintain wood floors, the best investment we’ve made is in a steam mop. Your feet will feel the difference and be thankful.

Organize

• Gather all scattered magazines/books and put them on a shelf, in a magazine holder, or in bins. File receipts, bills, and other important documentation. You you should scan them as you receive them and save them on your computer that should be backed up. However, if you like keeping paper, saving them in accordion folders is our favorite way to do it. They’re inexpensive and can be labeled.
• Swap out winter clothes by placing them in bins to put away or dedicate dresser drawers to the items you wont be using for a while.
• Hang a chalkboard or wipeable marker board to list your “to dos”. You’ll want it in clear sight, rather than just having a phone reminder that you can click off and forget about.
• Buy a small step stool/ladder. This has improved our organization by allowing us to use every available space to store items that are seasonal, such as the top of closets and top of kitchen cabinets.

Decorate

• A few minor details can change the entire look and mood of your space. Concentrate on the space you spend the most time in. Our favorite place is always the living room. It’s the main space of the home that you usually walk into and the space you entertain in. The 3 things you can change seasonally are candles, throw pillows, and plants. The candles add subtle light and fragrance for a relaxing atmosphere. The pillows add style with comfort. Plants add beauty, color, and have health benefits, such as, reducing stress and improving air quality. In combination, they create a sanctuary that you’ll always look forward coming home to.

If you think you don’t have the time to do this or it’s just an overwhelming thought- try dedicating 2 hours per (free) day to each of the tasks. We promise you that after the first day, it will feel so amazing to have accomplished your goal and it will motivate you to continue. Creating a system will make it easier going forward.

Have questions or need advice? Email us at luxeurbanlife@nycasagroup.com

Motivation in March

We love to spotlight the incredible people that are a part of our community and hear their experiences of living in Brooklyn Heights. We all start off the year with resolutions, but by March, we've usually lost interest. We met Lorissa when she invited us to join a trial group of what she offers- healthy eating and fitness coaching. She was such an inspiration because she was real. She shows you how she gets it done, even with the a full schedule and parenting 2 children, as well as, sharing what her challenges have been to get to this triumphant point. We wanted to know more of this fitness guru and did this Q and A.

What motivated you to move to Brooklyn Heights?
We were starting a family and at that time we were living in the West Village. We immediately loved the sense of community we got when we toured around the Heights, and I've always loved living on the waterfront.

What was the search like?
Truthfully, it was great. We were referred to the Heights by friends of ours that were currently living there. All we needed to do was make it over the Brooklyn Bridge and we were SOLD! Brooklyn Bridge Park is just the best for our kids to run around & explore!

Easier or harder than you thought?
Easier then I thought, since looking for place in Manhattan is ridiculously difficult. Finding the perfect match is challenging, but well worth it!

What about the neighborhood makes it homey and helped you to adapt?
Hands down the fact that it is so family friendly, yet has such a boutique feeling. I love that I have access to all of the best artisanal foods and culture. Moving to the neighborhood as a new mom could have been completely over-whelming, but this community is so family oriented with parks on every corner, I immediately fell in love & settled in.

Did you already have your fitness business when you moved here or did it happen later?
I began my fitness business after we moved here, as I wanted a more flexible lifestyle tailored to my passions - that being family, fitness & health. Before founding Fit With Loris & being the CEO of #FITBOSS, I was an obstetrics nurse working long shifts in Manhattan. After having children that mind shift took place, and I wanted to be a local "mompreneur". And the rest is history ... My husband is a huge supporter, and an excellent example of an entrepreneur as he also runs a business www.bleeker.co

What are your favorite things about being an entrepreneur in Brooklyn?
The coffeeshop vibes! Ok, the coffee shop corners are great, but I truly love the diversity in culture, breathtaking views of the Manhattan skyline & the tribe I'm surrounded by. This neighborhood supports small businesses like mine, and I love being able to organically network. Not to mention taking work breaks or playdates to Brooklyn Bridge Park - it's such a positive community space for the "fit fam" crew.  

Tell us more about what you do!

#MOMBOSS turned #FITBOSS
Launched in 2015 as a community for like-minded people, ready to lead a fit & healthy lifestyle. FIT WITH LORIS is a quickly growing collective of a #fitfam from all over the world.
 
If you love health, fitness & achieving goals, you'll feel right at home here.
 
You'll get fitness inspiration, nutrition tips, empowerment & an encouraging community of support. My philosophy is “strong is beautiful” and it’s never about being a certain # on the scale, it’s about EMPOWERING your life, your fitness & your health.
 
Because I believe we can all reach our health potential in a healthy, sustainable way.
 
It is my purpose and life’s mission to not only help people SEE their potential, but LIVE IT!

I do that by hosting online accountability groups. As a Beachbody Coach, I help my client's select the right program to suit their individual needs and get them set up for success. They will have support, one on one mentoring, custom clean eating meal plans, superfoods & ME as their personal coach.
 
The gist is this: we all know it's important to be healthy, but getting there isn't always easy…and I'm here to help you do that like the FITBOSS you are.

I have a ridiculous passion & personal success through working out from home. Following my heart, I now coach to pay it forward. My objective is to reach more people and attain their fitness goals this way too!

To find out more and stay in the know for upcoming free groups www.fitwithloris.com

Staging for Life

If you’ve made the decision to put your home on the market for sale and want to get top dollar, you’re going to have to put some work and time in before the first open house. We want you to omit the red flags when a buyer walks through the door. There are 2 parts to this- staging and renovations. Staging is the cosmetic look of the space. Making it look clean, organized, and spacious. The goal is for the potential buyers to envision how they would personalize the space. Renovations will be to fix the structural appearance. You’ll want to target cracks in the walls, leaks, leak marks, for example, and anything that is going to appear to be work and an expense for the buyer. We want to limit the punch list of items the buyer will find to try and negotiate the price down.

These are the benefits of staging:

• Professionally staged homes present and show better than competing houses for sale, including new construction homes and higher priced houses.

• Staged properties will sell faster when compared with houses that have not been staged. From the date of listing until the day of closing, home staging shortens this time frame, even in a slow real estate market.

• Staged homes typically sell for more money.

• Buyers view staged listings as “well maintained”.

• Buyers’ agents recognize that professionally staged listings are “move in” ready and are inclined to show staged properties.

• Photos of professionally staged listings look better in print and web media.

• Professionally staged listings “stand out” in prospective buyers minds.

• Staging, usually, addresses repairs and upgrades that are needed to get the property into an appropriate condition in order to sell.

• Staging gives buyers peace of mind knowing that any potential issues have been addressed in addition staging also shows buyers the properties true potential.

• Buyers often do not have the funds to move into a property and come up with more money to address repairs, painting, etc. Buyers have come to realize and appreciate the benefits of purchasing a staged property.

When you list your home for sale with us, NY Casa Group, we include the staging/renovation consultation with a member of our team. Your home will fall into one of these categories:

• The recommendations can be addressed and completed by you because there are minor changes to be made.

• The recommendations can partially be addressed by you. When you’ve completed your tasks, we will return to rearrange your furniture and add accent pieces, if necessary.

• There will be assistance required from a third party to renovate, who we will work closely with to ensure that our vision will be attained. When work is completed we come in to arrange furniture and add accent pieces.

If we make suggestions to paint or refurbish cabinets, floors, replace fixtures/appliances, or purchase furniture, we will guide you thru the entire process when bringing in a third party painter, contractor, or handyman. We will choose colors, brands, and styles that fit within your budget.

When the staging process is completed we will have the home professionally photographed.
We will book the photographer and be present during the shoot. We preview the shots during the session so we can make any changes or request specific angles. We want the final product to intrigue potential buyers!

You can find before and after pictures here on our website:

http://www.luxeurbanlife.com/staging/

If you have any questions or would like to request a complimentary consultation, contact us at luxeurbanlife@nycasagroup.com

Prepare for Buying Real Estate

The New York City real estate market is a fast-paced environment. In order to maximize the time you spend on your home search, it is important to be prepared. Taking certain steps ahead of time can help to make the home-buying process less stressful and expedite approval by the seller, board (if applicable) and financing institution. We suggest the following:

•  Evaluate your budget - know what you want to spend for a down payment as well as monthly expenditures (i.e.: maintenance or common charges and real estate taxes, monthly mortgage payment, utilities, parking, etc)
• Review your credit report and remove all disputed claims. Reduce your debt, especially outstanding credit card balances.
•  Speak with a Mortgage Lender/Broker and obtain pre-qualification for a loan. This makes you more qualified in the eyes of the seller.
•  Have at least 20-30% of the purchase price available in liquid assets.
•  Select an attorney who specializes in New York City Real Estate.
•  Prioritize your needs - space, light, views, building amenities, etc.
•  Identify your timeline for moving
•  Explore different neighborhoods to identify your preferred needs
•  If you have or are planning to have children, research schools in the selected neighborhood(s)
•  Evaluate access to transportation in the selected neighborhood(s)
•  Evaluate building amenities and house rules in terms of your needs (i.e.; washer/dryer permitted, gym in building, pet policy, storage facilities, etc.)

 If you are considering a Co-op or Condo unit:

Review building financials with your broker/attorney
Work closely with your broker to gather support materials for you mortgage application and Board Package (if necessary).

At minimum, most will require:
Personal and business reference letters, for which your Agent can provide examples
Employment verification letters and/or pay-stubs
Bank verification letter
Brokerage Statements
Net Worth Statement
Previous two years of tax returns
Mortgage loan application and commitment
Landlord reference
Credit check authorization

We understand that everyone's situation is unique and you may not have all of these items, but we can explain your options and guide you to properties that would be flexible in accepting what you do have. We offer complimentary consultations and guide you through the steps to achieve your home purchasing goals.

Have questions? Need real estate representation? Contact us at luxeurbanlife@nycasagroup.com

Homage to Hamilton

If you are a Broadway fan, have been online, watch television, or listen to music, you probably know by now that the musical Hamilton is the show you need to see. It’s been seen by the President and First Lady twice. Oprah, Rosey O'Donnell, Selena Gomez, Sia, and countless others are raving about it! The soundtrack is #1 on the Billboard rap chart. Tickets are sold out until next year and if you don’t hurry, that wait may be until 2017.

We have followed the success and impact of this production because Chris Jackson, who plays George Washington is the husband of our team member, Veronica. They met in the Spring of 2003 in the early workshops of Lin Manuel Miranda's first Broadway hit, In the Heights. She is a recording artist who hit Billboard dance charts at #1 with her hits "Release Me" and "I'm in Love". She also had hits featuring Big Pun ("Someone To Hold") and Fat Joe ("Rise") and had toured nationally portraying Selena in the musical honoring her life. This may have led to a career on Broadway, but love and life, had a bigger plan for her- becoming a mother. Once her life shifted, there was an attraction to real estate and helping people that drew her to becoming an agent.

Chris dedicated himself to making their dreams a reality. In the Heights ran for 3 years. He then recorded his own album, In The Name Of Love. He has also been writing for Sesame Street since 2008 and has written songs for Usher, LL Cool J, been nominated 6 times and won an Emmy for "What I Am" performed by Will.I.Am.

Veronica embarked on this new journey with NY Casa Group at the same time Chris and their friends were rehearsing for Hamilton. It was playing Downtown, but quickly got buzz. Before they knew it, it was heading for Broadway. These actors are working six days a week, doing 8 shows within those 6 days. They have trouble finding time to do routine things, such as, grocery shopping and laundry. And now they are going to have to find a home to stay in NYC. She knew first hand the limited amount of time they had. She used a broker prior to being an agent because she required professional guidance to find a place quickly and didn't have much time to do so. Who better to help them than this NYC born and raised talent.  She's an actor's dream agent because she understands all aspects of the experience.

When we think about who uses our real estate services, a large portion of people need a real estate agent because they don't have time to dedicate to the task. They can't spend countless hours online and viewing units around the city. With us, they give us their criteria and we show them the best units that match their criteria within a couple of hours. We’ll give you the list of necessary documents to apply. (Because in this city, timing is everything and you don't want to lose your dream apartment to someone that was better prepared). Appointments are scheduled for the best units within a couple of hours.

Veronica was able to represent many of Hamilton’s actors find their new apartments. She says "I feel so blessed to work with these amazing clients that have become dear friends. It's been a blast to watch this show explode the way it has!! Couldn't have happened to better people. I'm looking forward to helping them shop for homes in the future".

We are so very proud of this power couple, Veronica and Chris, and the entire Hamilton Cast! Veronica is our singing real estate agent who accomplishes all her client's goals. The Hamilton cast are breaking barriers and changing the look and sound of Broadway. It’s an incredible piece of work that must be seen!! The picture above was at opening night- Christopher Jackson (top left), Veronica Vazquez Jackson (top right), with Ariana DeBose (bottom left) and Andrew Chapelle (bottom right) ensemble.

If you'd like to work with Veronica or have any real estate questions, please send us an email at luxeurbanlife@nycasagroup.com

Top 5 Reasons Renters Need a Real Estate Agent

Our job as Real Estate professionals is to inform, educate, and assist clients with renting, buying, selling, or investing in the best property that matches their needs.

Renters can benefit from using a Real Estate Agent in NYC. Overall we all live a busy and hectic life, and don't have the extra hours to spend searching and visiting apartments that may not meet your needs. People are constantly moving in and out of neighborhoods, and renters are always trying to find the gem of deals.

The Top 5 Reason Renters Need a Real Estate Agent:

• Inventory - A good agent knows their inventory inside and out, especially off market listings that can't be found online. This comes from building relationships with landlords and supers. You as a customer want someone that knows the inventory because the rental market moves at an unpredictable rate. Constantly, units are pulled, reduced, or rented within hours, if not minutes. Finding a Real Estate professional is key to cutting your time in half, choose someone that is pro.                                                                   
• Specializes in an area / market - You as a customer want to always pick someone that specializes in the area that you want to live. For example, I can tell you every historical detail, grocery store, events, bars, restaurants, train lines and more. Your agent must be an expert navigator and tour guide. Our job is to inform and educate you on the neighborhood of your choice. If you want to live in TriBeCa, choose an agent that focuses on that area.
• Negotiation - Everyone believes that they are an expert negotiator, but frankly you're not. Remember that everything in Real Estate is negotiable. A professional agent knows how to negotiate in terms of rent, lease date, move in date, security deposit, and brokers fee. Also, agents deal with the same buildings everyday and have relationships with the management companies. You might not think its a big deal but when you save $1200 dollars a year on rent, it makes life a whole lot easier.
• Interest - Real Estate agents sometimes get a bad representation because of the few horrible brokers out there. An agent should always be looking out for your best interest. We navigate our clients to the properties that will work for them and never push a sale. Our firm provides a service of excellence to our clients and focus' on putting you into the best property that matches your criteria.
• Time - You as a customer can spend hours looking online for listings and making hundreds of phone calls. We're in the business of saving you time and money on your Real Estate needs. The same way that you use a mechanic to fix your car. You're not obligated to use a mechanic, but its makes your life easier knowing that a professional is fixing your car, this is the same rational for using a Real Estate agent.

If you have any questions, require more information, or would like to schedule a complimentary consultation, please email us at luxeurbanlife@nycasagroup.com

Welcome to Our Blog

Today we launch our blog! This will be where we offer real estate news and advice, our experiences in the field, client experiences, home decorating tips, neighborhood information, events, and more! You'll get to know the agents on the Luxe Urban Life Team and how we come together to accomplish or clients real estate goals! If you have any real estate questions, we offer complimentary advice and consultations. If there any topics you'd like covered, submit your ideas. You can email us at luxeurbanlife@nycasagroup.com