Wow money is cheap!!!

OK so the statistics are in. Today, mortgage rates hit a record low of 4.19% for 30 year fixed. The last time they were this low was in 1951... That means my mom was 1 years old, my dad was 6 years old, and WWII was still fresh in everyone's mind. Fast forward 59 years to 2010, where fiscal policy is elongating our economic recovery and the topics of the month are QE2 ( or quatitative easing the second time around, and inflation is kicking ) and a freeze on all foreclosures in all 50 states due to careless back office staff at banks signing off on every foreclosure case that comes along.... Does anyone else see really really big opportunities here??

Whether for a personal home or for investment use the low interest rates to your advantage! Buy a cheap home in Florida (ie $30,000 homes in Orlando that were $150,000 in the peak), or buy an income producing multi-family that's pumping out a 6%-7% cap and make money off the spread.

Long story short look in the chaos to find yourself a nice passive income.

CNO

Social Media, Cheese Cake, & Keeping in touch....

So yesterday I went to this luncheon hosted by friend David Grant owner of LVM (a PR company) that had about 5 speakers in it's lineup. It was hosted by the Institute of Real Estate Management; and actually I think I was the only "non-member". My intentions were to go there, say hello to a couple of people, and then leave. I shook the hands with editors from Crains NY, Green Pearl Events, The New York  Post, Real Estate Weekly, & The Real Deal... It was really great meeting these people because they really know EVERYTHING about whose doing what, when, and for how much. I met Lois Weiss ( a 20 year press veteran ) who pretty much is the Queen of NYC commercial real estate press. OK maybe not the Queen, but pretty damn important. I've been reading her columns since I started the industry 10 years ago. She put us in the exclusive "Between the Bricks" column this past August in the NY Post, and definitely helped get our name out there.

So I'm about to leave and making my way towards the exit (after a quick stop at the open bar ;-) ) and a guy comes up to me and says "Hi Chris"...  I didn't recognize him at all... and he's like "It's me Larry.... from Slade Elevator?" I saw his logo, and remembered him immediately (Good Branding)... "ah yes 63 West 38th Street" .. ( a building clients were considering to purchase) "how are you?"... and so it went. We transferred to the next room where there was a beautiful dining room (at The Helmsley Hotel) and cheese cake was on every table for every seat..."YES!"

Anyway, David starts out by talking about an old flick him and his wife were watching over the weekend, and he was quick to reference the differences between then and now. 'Back then, all the journalists were men, they all had typewriters (at the press conferences), and most importantly didn't have "social media"'...

The really interesting thing is that "social media" wasn't even a term used 5 years ago... but today it is used by everyone, including in businesses & the press. MOST importantly (for me) however, it is an awesome way to keep in touch with everyone I need to keep in touch with, without making 1,000 phone calls. This is how Larry from Slade elevator knew my face, knew me by Chris (and not Christopher), and knew what was going on in my world. I didn't remember him because he has no picture on his Linkedin profile nor does he post any updates... so friends keep the posts, tweets, updates, blogs, and bios up to date, because people do care and do look you up.

Technology & COM*RE

Although I was out all day running errands and doing some Columbus Day shopping, my brain was at full capacity thinking about how technology and real estate can come together in a synergistic way. Most probably in a simple word; communication. Although the idea is so broad and can mean so many things on so many levels in every part of commercial real estate, the question is "HOW". Yeah there are a million apps, programs, and websites that fill every void, but all I need is one void & need that hasn't been met fully.

Whattup Blog World?

     Coming from my crib or my office in Midtown Manhattan, I welcome you to COM*RE! (fyi "COM" = Commercial, and "RE" = Real Estate) ...Yeah... anyway COM*RE is what I live, breathe, obsess over, and probably one of the greatest passions of my life. My name is Christopher Okada, I am a 30 year old entrepreneur, soon-to-be mega broker ;-), advisor, trainer, speaker, and visionary. Over the past year commercial real estate has seen the worst dip in valuation since the crash of 87' (& that whole era) and the great depression. Somehow I was able to take the craziness of the market and transact in 700,000SF in distressed sales of office/hotel buildings in NYC. Face value: $481,000,000... price at check-out $221,500,000 or approximately 54% off. Oh yeah. But the 50% days in NYC COM*RE are over!!! So now what? Back to regular priced expensive real estate I guess & running the company & its many components... and this blog :-)~

    So, thats it for today, I think this is kind of funny since I have no body checking this out yet, but we'll see. Oh yeah, if you are READING THIS AT THIS VERY MOMENT, please let me know somehow...facebook, twitter, email, text, facetime, linkedin, add, follow, etc. etc. Sheesh communication these days...

Peace out, 

Chris Okada