One of Nevada’s Oldest Basque Restaurants with 22 Room Hotel!!!

Click here to view Flyer in PDF format.

There are mixed opinions about holiday hiring from various retailers located in the Reno area. Some businesses are expecting to increase their staffing by about 20% where others are only planning on hiring a few select people that are passionate about the product(s) being sold in the store(s). 

Click Here for more information and the full article by Northern Nevada Business Weekly 

 

130 So. Center
Reno, NV 89501
For Sale $1,650,000.00 or Lease Rate: $ 6,000.00/month NNN

Amenities

• Freight Elevator
• Off – Street Parking
• Short Distance to:
  • Court House
  • Pioneer Theatre
  • Washoe County Library
  • River

New Listing for Fenell & Associates Fred Miller & Cathy Shanks!

500 EAST MOANA LN.
Reno, Nevada 89502
FOR SALE
$2,100,000

20,522 Square Foot Retail Building
Traffic Count: 14,000 ADT
Prime Location
Recently Remodeled
Excellent Demographics in Well Established Neighborhood
Parking Ratio (per 1,000 Sf GLA) 3.46

 Click Here to View Flyer

WHY GROW YOUR BUSINESS IN GREATER RENO-TAHOE?

Some Great information regarding, yet, even more reasons to relocate & grow your business in the Greater Reno- Tahoe Area… from EDAWN’s Website…

Businesses of all sizes are moving to Greater Reno-Tahoe. Here are just a few of their reasons. What will yours be?

Click here for a copy of the Why Do Business in Greater Reno-Tahoe

Click here for Reno-Tahoe International Airport Highlights

Tax Benefits

• NO corporate income tax
• NO personal income tax
• NO franchise tax
• NO unitary tax
• NO inventory tax
• NO inheritance tax
• NO estate tax

Operating Benefits

• Strategic location
• Room for new and expanding companies
• Diverse labor market
• Wide range of financial resources
• Entrepreneurial services and support
• Urban, suburban, rural living options
• Quality of life

Community Benefits

• Emerging new business dynamic
• Strong sense of community
• Four vibrant seasons of recreation, arts and culture
• A balanced life pace

No matter your business, Greater Reno-Tahoe’s tax benefits and business-friendly environment can work for you. And with everything potential employees want – from entertainment options to the beauty of the Sierra Nevada – moving to Greater Reno-Tahoe can attract and retain the right people. Talk about taking the gamble out of making a move!

Bottom line: Greater Reno-Tahoe companies keep more of their profits

 Today we are going to be focusing on REO’s. What are they? Where do they come from? Who buys them?  Most Real Estate Professionals know that REO means “Bank Owned” or “Real Estate Owned” & if they don’t, maybe it’s time to find a new Agent. 

While discussing REO’s in everyday conversation with the general public, I have come across many-a-deer caught in luminously blinding headlights when those 3 simple letters get tossed around. So, I think it’s time to set the record straight and explore the deeper meaning of the ever so mystifying jumble of  “R” + two vowels we call REO.

The Wikipedia, Free Online Encyclopedia’s definition of a REO or Real Estate Owned is “a class of property owned by a lender, typically a bank, after an unsuccessful sale at a foreclosure auction. A bank will typically set the opening bid at a foreclosure auction for at least the outstanding loan amount. If there are no bidders that are interested, then the bank will legally repossess the property. As soon as the bank repossess the property, it is listed on their books as REO – Real Estate Owned – and is categorized as an asset (non-performing).

As soon as a property goes into a distressed status (the borrower/home owner misses mortgage payments) the bank will want to determine the amount of equity that the property has. A popular method to determine the equity is to obtain a Broker Price Opinion BPO or order an appraisal. Based on the amount of equity that is determined from the BPO, the bank will decide to try for a short sale or to allow it to go through the foreclosure process. If the bank is able to sell the property through a short sale or at a foreclosure auction, then the property will not become a REO property.

After repossession and the property becomes classified as REO, the bank will go through the process of trying to sell the property on its own. It will remove some of the liens and other expenses on the home and try to resell it to the public, either through future auctions or direct marketing through a real estate broker (REALTOR). Generally speaking, bank REO properties are in poor shape in terms of repairs and maintenance; however, real estate investors will often go after these properties as banks are not in the business of owning homes and so, in some cases, the low price can more than compensate for the condition of the property.

Once a property is REO, the bank or lender will try to get rid of the property by either selling it directly themselves or through an established broker. Many larger banks such as Bank of America and Wells Fargo have REO/asset management departments that will field bids and offers, oversee upkeep and handle sales. The majority of REO properties that are on the open market are listed in MLS by the broker/REALTOR that performed the BPO.”

So, now what we know what an REO is, and that it is actually a positive opportunity for someone looking to make a purchase, we can discuss how REO’s relate to Commercial Real Estate. Just like in Residential Real Estate, REO’s inhabit the Commercial Real Estate world as well. In the Residential world, if a homeowner can’t pay their mortgage, their home usually goes back to the lender or bank where the loan originated from. After the failed auction and repossession take place, the bank has an REO on their hands. This same scenario happens frequently in the Commercial Real Estate world with buildings, land, and anything that isn’t owned outright. A building owner defaults on his or her loan payments, the building goes back to the bank, the bank auctions the property off for the outstanding loan amount, nobody bids, the bank repo’s the property, and it is then labeled an REO. This same pattern is true for land owners. Many times the bank wants to quickly rid themselves of the property. So, for a buyer, this can be a very savvy time to stumble across a deal that might otherwise be nonexistent in a different economic climate.

Fennell and Associates Commercial Real Estate Team has worked closely with many banks & buyers executing many successful REO transactions. Ron Boles, a Commercial Agent here at Fennell and Associates, currently has 3 REO properties listed for sale. Click the link below to view our inventory.

www.fennellandassociates.com

Great Source of information from EDAWN regarding successful businesses in Reno, Nevada

Greater Reno-Tahoe is the right place for your business, but don’t take our word for it.

Hear from business leaders why they chose Greater Reno-Tahoe

The types of business that EDAWN seeks to recruit, grow, and retain are diverse in their products, services, and employment opportunities. Through innovative and creative partnerships between the public and private sectors, we strive to improve the overall quality of life in the Greater Reno-Tahoe area by facilitating economic growth.Here are some cases of companies that both benefit from and contribute to the vibrant and diverse Greater Reno-Tahoe business community.Click the Link Below for the full Story!http://www.edawn.org/business/case-studies

Fennell & Associates has a NEW LISTING For Sale, a Commercial Retail  Investment Opportunity – 100% Leased – The address is 3555 South Carson St. Carson City, Nv 89701

Price $1,350,000
Contact Harvey Fennell or Todd Collins for more information!

(775) 850 – 3100

hfennell@fennellcre.com

tcollins@fennellcre.com

(Views From Reno, Nevada’s Mount Rose)

Reno, Nevada and many parts of Colorado boast similar mountainous terrain and attract many of the same types of lake loving folk. Those who relish fresh air of the outdoors, hiking, biking, skiing, snowboarding, kayaking, camping, boating, and other outdoorsy delights may find it interesting that Nevada triumphs Colorado, in addition to Idaho, California, and Arizona in terms of being the State Least Taxed! Somewhat ironic, but thanks to taxes brought in from our gaming industry, Reno is able to maintain some of the finest highways, roads, and public parks in the Country. Some may think No Taxes, No Maintenance, but here in Reno it’s quite the contrary. I urge you all that aren’t from Reno, or have never visited this desert oasis surrounded by cascading Sierra Nevada Mountain pines, to book your flights, pack your cars, and come visit this captivating Silver State Town. If not for Business, visit solely for optical pleasure alone and take in the breathtaking surroundings of Reno, Nevada.  

Another great business cost comparison for Nevada Vs Colorado from NV Energy, Nevada’s One & Only Economic Development Website.

Click the link below for an in depth comparison of the two states:

Business Cost Comparison: Nevada Vs Colorado

Click the link below for NV Energy’s Website

http://www.nvenergy.com/economicdevelopment/taxes.cfm

 Veiws from Mt. Rose Ski Resort (Reno, Nevada)

It’s a simple process to file corporate income taxes in Oregon. Their rate is just a flat 6.6% for all income levels. If you choose to incorporate your business in Oregon you are not required to pay franchise tax or tax on corporate shares. This is good for Oregon, but Corporations and LLCs registered in Nevada are also free from those taxes! Nevada corporations also do not pay state corporate income tax. Nevada has about the best outlook for corporate tax savings in the US for new incorporation’s. With so much available, undeveloped land here in Nevada, I’m surprised more business owners haven’t caught on to our tax incentives

 Click the link below for an in depth comparison of the two states:

Business Cost Comparison: Nevada Vs Oregon

Click the link below for NV Energy’s Website

http://www.nvenergy.com/economicdevelopment/taxes.cfm