504 Loan DOUBLES: Now allows max $4 million financing for greening buildings

HuffingtonPost.com is featuring this article about how real estate investors can get up to $4 million in financing by reducing energy consumption by 10% or more (eg. conservation, efficiency technolgy) and/or by introducing green, renewable power. Considering the type of market many cities are in, buildings most suitable for a green retrofit are likely to be in demand.

Here's the article:

The Small Business Admistration has amended its existing 504 loan program, which was originally created to encourage small- to medium-sized business owners to acquire commercial property by providing them with long-term, fixed-rate financing. One of the biggest accommodations is that these loans required a minimal equity requirement and the size of the loan correlates directly to the borrower's impact on the community, including revitilizing and stimulating local business, improving and diversifying the district, and expanding a minority-, woman-, or veteran-owned business.

The new loan program has now been doubled to a maximum of $4 million to borrowers who reduce energy consumption by 10 percent or generate renewable energy. This opens up whole new avenues to businesses that focus on sustainable design, reduce energy consumption, and promote renewable energy generation. This is where some of the federal government's stimulus programs' rubber is beginning to meet the road. Although the SBA 504 loan program was originally intended to revitalize local areas through its financing program, this new expansion literally broadens these possibilities on an exponential level. Sustainability, in a way, has been considered a minority class on a pure business level. Now the seeds are being planted in order to invigorate a model that is not only essential on an environmental level, but on a profitable business level as well.

Full on;line story about green real estate loans by Jonathan Schein

The 3 Biggest Mistakes Realtors are Making in 2009

Here are 3 common, revenue-killing errors in perception and practice that real estate agents and brokers are making this year:

1 – Exclusively focusing on the “sell” side
2 – Not utilizing the effectiveness of web marketing
3 – Waiting for things to “turn around”


In more detail:

#1 - Working the SELL side only; in 90% of North America, this makes no sense, as the money is being made on the buy side! This is the biggest buyer's market in the past 75 years. Does your branding reflect service to buyers? Has your website been keyworded to appear in front of homebuyers?

Have you summarized and linked the 8k Federal Housing Tax Credit info on your website? Have you thought about and contacted previous clients who may be ready to move up during this biggest buyer’s market in UDSA history?

Having written all that, listings are always useful, and providing great service to buyers during this phase will set you up well for 2010 / 2011 listings presentations, as you’ll be known as the realtor who “has lots of buyers looking.”



#2 - Underestimating the power of the Internet. You wouldn't believe how many realtors say "I only want to have one website"; they may as well say, "I don't want to make a lot of money." Where I work (joe.trainor@realtysoft.com or via 1.866.857.1657 x 113) you can get a lead generation website with world-class IDX and a domain name and hosting included all for less than $20 a month via our annual deal (THIS month June 2009), but even if you’re spending a lot more, the key is to optimize it well during the first few months. After that, you’ll only need to spend 20-30 minutes per month to keep it generating high quality leads.



#3 – NOT being proactive; if you are thinking and expecting other people will call you, it’s time to get back to doing everything as if it's your first year in the business. Touch base with your prospects and regularly make 20 calls per day and you’ll see your situation start to turn around.


Send me an email if you are looking to gereate more leads and revenue from the web, and we can send you some samples to view or set you up with a free trial, whatever you prefer!