As I write my first update letter as the newly elected president of the NYS Commercial Association of Realtors, it is bittersweet because of the untimely passing of our late president, friend and colleague, Dana Crocker of Syracuse.
Crocker was a long-time dedicated member of the association and always had the best interest of the organization in mind. Keeping on that same path, I will work hard to keep the organization strong and keep the best interest of the members at the forefront. The newly elected leadership team is as follows: Robert Strell (WNY), president, Mercedes Brien (RAC), first VP, Carolyn Vinci (WNY), second VP and Andrew Mangini (Grtr. Capital), treasurer. James Walker, CCIM (Hudson Valley) is the immediate past president.
We invite you to join us at the 21st Annual Conference which is being held June 14-16, 2023 at the Turning Stone Resort and Casino in Verona, sponsored by the NYS Commercial Association of Realtors, Upstate New York Chapter of CCIM and the Society of Exchange Counselors (SEC).
On Wednesday, June 14, the Upstate NY CCIM Chapter is hosting “Real Estate Performance and Investment Analysis using Excel” (7 hours NYS c.e.) with instructor Joseph Larkin, CCIM, MCR, SIOR.
Course description: How to determine if a real estate investment makes financial sense? You start by building a proforma economic model and applying performance measurements to determine if the asset meets the financial objectives.
This course is designed specifically for real estate professionals interested in expanding their knowledge of investment real estate. Attendees will use prepopulated Excel workbooks that allow fast calculations of vital financial measurements to evaluate a real estate investment quickly and effectively.
Real Estate Performance and Investment Analysis using Excel is essential for any real estate investor or practitioner. The attendee will leave with the knowledge and financial tools that can be applied immediately to evaluate any real estate investment!
SEC Member & Guest Event
All are welcome to join for another fun afternoon of shooting sporting clays and networking with SEC members and guests at the Vernon National Shooting Preserve located at 3291 Burns Rd., Vernon Center, New York. Lunch will be served at noon followed by shooting and then a steak BBQ dinner at the range. Gun rentals are available. Participants will pay fees directly to Vernon National the day of the event. RSVP directly to Nate Kanney, and for any questions (845) 430-8314.
Thursday, June 15 (9:00 am – 5:00 pm)
Investment Marketing Session
Moderators Tyler Nepote, SEC and Jason Dillard, SEC assisted by John Lavelle and Paul Hakim, CCIM. Come make deals for you and your clients. Generate potential brokerage transactions and network with practitioners from across the country. Attendees who have properties to present and be formally moderated need to submit their property forms by June 2. Please plan to participate in a virtual pre-planning session one week prior to the onsite meeting.
During the luncheon session, Michael Kelly, director of Government Affairs, NYSAR, will give a legislative update. This is always a very informative session for the attendees.
A Welcome Reception will be held on Thursday evening for all attendees.
On Friday, June 16, we are pleased to have J. Shelby Schneider, deputy director, NYS Economic Development Council as our luncheon keynote speaker.
The following courses will be offered on June 16:
Creating Wealth through 1031 Exchanges, instructed by Russell Gullo, CCIM
Course details: Attendees will learn about the “Best Kept Secret In Real Estate”. They will learn how to pay no tax when disposing of business/ investment-held property; what the requirements are, including the time frames, who the four parties are and how to set up a 1031Exchange. Attendees will also learn what is meant about the meaning of “like-kind”; what property can you give up and what property can you receive as well as where can you acquire the replacement property, how many properties can be involved in a 1031 Exchange and examples will be explained. Learn about the different advantages of performing a 1031 Exchange, how you are able to create wealth using 100% of your equity; types of 1031 Exchanges; reverse exchange; combination reverse & deferred exchange (extra 180 days); improvement exchange; installment sale/1031 Exchange; partial exchange; common formulas and their benefits will be reviewed.
Lease vs. Purchase Analysis, instructed by Joseph Larkin, CCIM, MCR, SIOR
Course details: For most businesses, the cost to occupy real estate is typically the second most expensive item on the profit and loss statement. As a broker, leasing agent, or consultant, you may be asked to advise a client on the merits of leasing or purchasing commercial real estate. This case-study-driven course will provide you with the tools to answer the question, which is better, leasing or owning?
Looking through the lens of the business, we will explore the choices and how those options are evaluated. A cost-to-occupy model will provide financial and non-financial measurements in the decision-making process. Providing a high level of value to your client.
During the course, we will cover non-financial and financial concepts and the Four Worlds of Real Estate. Where to find lease vs. purchase opportunities and how to deliver value to prospective clients. A demonstration of a real-world transaction will be illustrated.
A laptop computer with a full version of Excel is required. During the course, the attendee will be provided with an Excel-programmed workbook. Providing an opportunity to complete “what if” scenarios.
Lease vs. Purchase, part II offered Friday afternoon will provide case studies.
Many thanks to outstanding conference sponsors: Diamond: CoStar; Pyramid Brokerage/Cushman & Wakefield, Gold: New York Real Estate Journal, Silver: C2G Environmental Consultants, LLC; CBRE Upstate NY; RJ Gullo Companies.
Robert Strell is president of NYSCAR and is an associate real estate broker, real estate consultant with Hanna Commercial Real Estate, Rochester, N.Y.
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