Surround Yourself with Like-Minded People Unless your current friends own businesses, you will get a lot of flak from them about owning your own business. Friends like their friends to be like them. They may worry about your ability to pay your bills or balance your life. Don’t let their good intentions hold you back! Find new friends who ...
Tag: #CompassCommercial #CommercialRealEstate
December 15, 2020Lynn Drake
In the summer of 2019, I was showing a building in Auburn Hills. The building had flooded and only one person was still working in it. I couldn’t tell if the business was a staffing firm or an accounting firm. During our first visit to the site, as we stood in the parking lot waiting for the listing agent to show us into the space, I happened ...
October 23, 2020Lynn Drake
September 19, 2020 - Troy, Mich. — One of Michigan’s most respected woman-owned commercial real estate companies, Compass Commercial / ITRA Global is celebrating its 10-year anniversary this month while also expanding both its team and service offerings. Founded by Lynn Drake in 2010, the Troy-based firm specializes exclusively in tenant ...
September 16, 2020Lynn Drake
If you are looking for some additional funding options during COVID-19 check out this list of options provided by Mariyah Saifuddin. Click here: Funding Options During COVID 19.
May 11, 2020Lynn Drake
Compass Commercial CEO Lynn Drake recently spoke for the Troy Chamber of Commerce on CRE Strategies During COVID-19. Here is the video from that presentation. https://youtu.be/4Ddeh0hf6Vo You can also view the PowerPoint presentation here CRE-Stratetegies-Troy-Chamber-4-2020.
May 1, 2020Lynn Drake
A year ago, a prospect was referred to me for a project. She was already in talks with another agent; however, I recommended someone more suitable to help her. She met my contact and didn't like it when he provided her with the true value of the building. She then listed the building with the initial provider for more than ...
April 14, 2020Lynn Drake
Aras, Troy MI The Challenge: With the help of Compass Commercial, Aras opened a 1,000 s.f. office in Troy, MI in 2014. However, within just a couple of years, Aras needed to double their size, and by 2018 they needed a space for 40 people. What We Did: Compass needed to identify ...
March 31, 2020Lynn Drake
Once the Purchase Agreement is signed by both parties, the only way to cancel it is if the seller agrees out of the kindness of their heart or if one of the contingencies isn’t met. For instance, if the building doesn’t appraise appropriately, and you can’t get a mortgage, you ...
November 7, 2019Lynn Drake
Sometimes owners won’t provide much information about their tenants, etc. until they know you are serious about the building. Or, they might want you to sign a confidentiality agreement in which you agree not to share any information you learn about the building. This might require you to put out a binding ...
September 3, 2019Lynn Drake
Occasionally, someone will sell their building on a land contract. This mean the buyer puts down an agreed upon amount and then the owner finances the loan based upon an agreed number of years, amortization schedule, and interest rate. Usually, these loans are for 5 to 7 years, and any ...
April 11, 2019Lynn Drake