May 23, 2023,05:00am EDT

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May 19, 2023,05:00am EDT

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May 16, 2023,05:00am EDT

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May 12, 2023,05:00am EDT

Considering Risk Profiles When Making Real Estate Investments“,”scope”:{“topStory”:{“index”:4,”title”:”Considering Risk Profiles When Making Real Estate Investments”,”image”:”https://specials-images.forbesimg.com/imageserve/645bcb1f28f96ef5882796dd/290×0.jpg”,”isHappeningNowArticle”:false,”date”:{“monthDayYear”:”May 12, 2023″,”hourMinute”:”05:00″,”amPm”:”am”,”isEDT”:true,”unformattedDate”:1683882000000},”uri”:”https://www.forbes.com/sites/jamesnelson/2023/05/12/4-risk-levels-to-know-when-investing-in-real-estate/”}},”id”:”g6af6kn7jg0g0″},{“textContent”:”

May 9, 2023,05:00am EDT

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Mar 16, 2023,04:05pm EDT

Stores-In-Stores Multiply Retail’s Appeal In The Fight For Wallet Share“,”scope”:{“topStory”:{“index”:6,”title”:”Stores-In-Stores Multiply Retail’s Appeal In The Fight For Wallet Share”,”image”:”https://specials-images.forbesimg.com/imageserve/641374aa585df526d47ffb6c/290×0.jpg?cropX1=0&cropX2=2636&cropY1=136&cropY2=1619″,”isHappeningNowArticle”:false,”date”:{“monthDayYear”:”Mar 16, 2023″,”hourMinute”:”04:05″,”amPm”:”pm”,”isEDT”:true,”unformattedDate”:1678997139029},”uri”:”https://www.forbes.com/sites/kristinmueller/2023/03/16/stores-in-stores-multiply-retails-appeal-in-the-fight-for-wallet-share/”}},”id”:”8aampa9g9pp400″}],”breakpoints”:[{“breakpoint”:”@media all and (max-width: 767px)”,”config”:{“enabled”:false}},{“breakpoint”:”@media all and (max-width: 768px)”,”config”:{“inView”:2,”slidesToScroll”:1}},{“breakpoint”:”@media all and (min-width: 1681px)”,”config”:{“inView”:6}}]};

Two H-1B visa holders and an international student are plaintiffs in a lawsuit alleging Florida’s new law preventing many Chinese citizens from purchasing real estate in the state is unconstitutional. The state will also require U.S. citizens in Florida to attest that the law doesn’t apply to them when buying real estate. Florida Gov. Ron DeSantis has highlighted the new law while pursuing the Republican nomination for president. Analysis shows the law is likely more restrictive than the plaintiffs in the lawsuit argue due to the use of the term “visa” in the bill rather than “status.”

The Florida Law’s Main Provisions

Starting July 1, 2023, Florida law S.B. 264 prohibits a citizen of China from buying real estate in the state unless certain exceptions apply. The exceptions include that it is only “one residential real property that is up to 2 acres” and the “parcel is not on or within 5 miles of any military installation in the state.” The person must have a “current verified United States Visa that is not limited to authorizing tourist-based travel” or have been granted asylum.

The measure applies to “Any person who is domiciled in the People’s Republic of China and who is not a citizen or lawful permanent resident of the United States.” A person who is a citizen of China (and not a U.S. citizen or lawful permanent resident) who meets one of the exceptions and already owns property in Florida “may not purchase . . . any additional real property” in the state.

Other provisions apply to citizens of China, Russia, Iran, North Korea, Cuba, Venezuela and Syria unless they qualify for an exception. These include prohibitions on purchasing agricultural land or real estate near a military installation or critical infrastructure.

The law also places new requirements on American citizens in Florida. “At the time of purchase, a buyer of real property in this state must provide an affidavit signed under penalty of perjury attesting that the buyer is” not prevented from buying the real estate due to the new law. This illustrates how immigration-related restrictions often also affect U.S.-born citizens.

The Lawsuit

A lawsuit filed on May 22, 2023, challenges the Florida law, arguing it “imposes discriminatory prohibitions on the ownership and purchase of real property based on race, ethnicity, alienage, and national origin—and imposes especially draconian restrictions on people from China.”

The complaint discusses the impact of the law on the plaintiffs—four Chinese citizens who live in Florida and a real estate brokerage firm that serves Chinese and Chinese American clients.

“They will be forced to cancel purchases of new homes, register their existing properties with the State under threat of severe penalties, and face the loss of significant business,” according to the complaint. “The law stigmatizes them and their communities, and casts a cloud of suspicion over anyone of Chinese descent who seeks to buy property in Florida. Under this discriminatory new law, people who are not U.S. citizens or permanent residents, and whose ‘domicile’ is in China, will be prohibited from purchasing property in Florida.

“A similar but less restrictive rule will apply to people whose permanent home is in Cuba, Venezuela, or other ‘countries of concern.’ The sole exception to these prohibitions is incredibly narrow: people with non-tourist visas or who have been granted asylum may purchase one residential property under two acres that is not within five miles of any military installation in the state. Notably, there are more than a dozen military installations in Florida, many of them within five miles of city centers like Orlando, Tampa, Jacksonville, Pensacola, Panama City, and Key West. Florida’s new law will also impose requirements on people from China and other ‘foreign countries of concern’ to register properties they currently own, at the risk of civil penalties and civil forfeiture. People who own or acquire property in violation of the law are subject to criminal charges, imprisonment, and fines.”

The attorneys for the plaintiffs are the ACLU Foundation of Florida, the American Civil Liberties Union Foundation, the DeHeng Law Offices and the Asian American Legal Defense and Education Fund. The attorneys filed the complaint in the U.S. District Court for The Northern District of Florida Tallahassee Division.

“The law may be even more restrictive than the lawsuit indicates,” according to Kevin Miner, a partner at Fragomen. “This is because the statute uses incorrect immigration terminology to describe the exception. The statute appears to try to create an exception for individuals who are in the U.S. on a longer-term nonimmigrant status but does so by referencing a ‘visa’ rather than nonimmigrant status. The exception in the finalized bill, as enacted, exempts someone from the law if ‘the person has a current verified United States Visa that is not limited to authorizing tourist-based travel or official documentation confirming that the person has been granted asylum in the United States and such visa or documentation authorizes the person to be legally present within this state.’

“From a U.S. immigration law perspective, a ‘visa’ has a specific meaning. It is a sticker on a page of someone’s passport issued by a U.S. consulate abroad authorizing travel to the United States. It is different than having nonimmigrant status, like holding H-1B status while living in the U.S. and working for a U.S. employer. Because a visa is only needed for travel, many people in the U.S. are lawfully present holding H-1B, L-1 or F-1 student status and don’t have an unexpired visa stamp in their passport. The Florida statute incorrectly references a ‘visa’ rather than ‘nonimmigrant status.’ This could cause further complications for people who may have been intended to be exempted from the law but will be swept up in its restrictions anyway.”

Two H-1B Visa Holders And An International Student As Plaintiffs

The lawsuit includes two plaintiffs who are H-1B visa holders and one international student on an F-1 visa.

“Plaintiff Yifan Shen is neither a citizen nor a permanent resident of the United States but has permission to stay and live in the United States as the holder of a valid H-1B visa, which is a nonimmigrant worker visa,” according to the complaint. “Ms. Shen has lived in the United States for seven years and has lived in Florida for the past four years. She is not a member of the Chinese government or of the Chinese Communist Party. She has a master’s degree in science and is working as a registered dietitian in Florida.

“In April 2023, Ms. Shen signed a contract to buy a single-family home in Orlando to serve as her primary residence. The property, which is a new construction, appears to be located within ten miles of a critical infrastructure facility and within five miles of a military installation. The estimated closing date for Ms. Shen’s new property is in December 2023. Because Ms. Shen’s closing date is after July 1, 2023, Florida’s New Alien Land Law will prevent Ms. Shen from acquiring her new home, specifically, by forcing her to cancel the contract for the purchase and construction of her new property. Ms. Shen stands to lose all or part of her $25,000 deposit if the law goes into effect and she is forced to cancel the real estate contract.”

“Plaintiff Yongxin Liu is neither a citizen nor a permanent resident of the United States but has permission to stay and live in the United States as the holder of a valid H-1B visa, which is a nonimmigrant worker visa,” according to the complaint. “Mr. Liu has lived in the United States for five years and in Florida for four years. He is not a member of the Chinese government or of the Chinese Communist Party. He is an assistant professor at a Florida university in the field of data science. He owns a property close to Daytona Beach, which is his primary residence. As an owner of real property in Florida, Mr. Liu will be required under Florida’s New Alien Land Law to register his property with DEO [Department of Economic Opportunity].

“In addition, because Mr. Liu’s property appears to be located within ten miles of a critical infrastructure facility, Mr. Liu is further subject to the law’s registration requirement. This registration requirement is burdensome, discriminatory, and stigmatizing to Mr. Liu. Mr. Liu also has plans to purchase a second property in the vicinity of Pelican Bay, Florida, for his and his parents’ use as a vacation home. However, Mr. Liu will be prohibited from purchasing a second property under the new law. Furthermore, there is a substantial likelihood that the second property would be within ten miles of a military installation or critical infrastructure facility, resulting in an additional prohibition on the purchase under the new law.

“Due to Florida’s New Alien Land Law, Mr. Liu reasonably fears that real estate agents will refuse to represent him because he is Chinese, that he will be disadvantaged when bidding on property because he is Chinese, and that his search for real estate will be more costly, time-consuming, and burdensome as a result.”

“Plaintiff Xinxi Wang is neither a citizen nor a permanent resident of the United States but has permission to stay and live in the United States as the holder of a valid F-1 visa, which is a nonimmigrant visa for international students. Ms. Wang has lived in the United States and in Florida for the past five years. She is not a member of the Chinese government or of the Chinese Communist Party. She is currently pursuing her Ph.D. degree in earth systems science at a Florida university.

“Ms. Wang owns a home in Miami, which is her primary residence. Ms. Wang is also devoted Christian who worships with a congregation in the Miami area, about ten minutes from her home. As an owner of real property in Florida, Ms. Wang will be required to register her property . . . In addition, because Ms. Wang’s property appears to be located within ten miles of a critical infrastructure facility, Ms. Wang is further subject to the law’s registration requirement. This registration requirement is burdensome, discriminatory, and stigmatizing to Ms. Wang.”

Why The Law May Be Unconstitutional

The complaint asks the court to find the law unconstitutional under the 14th Amendment because it violates plaintiffs’ rights to equal protection and procedural due process. “The law was enacted with the purpose and intent to discriminate against persons based on race, ethnicity, color, alienage, and national origin, in particular, Chinese persons,” according to the complaint. “The law makes impermissible classifications based on race, ethnicity, color, alienage, and national origin that are not justified by a compelling state interest. . . . The law is impermissibly vague, indefinite, and ambiguous because it fails to clearly define ‘critical infrastructure facility,’ ‘military installation,’ and ‘domicile,’ and therefore fails to provide sufficient notice about which properties and persons are subject to its classifications, prohibitions, penalties, and requirements . . . [and] fails to provide sufficient notice as to where the ten-mile and five-mile exclusion zones tied to the covered critical infrastructure facilities and military installations begin and end.”

The complaint also argues the law violates plaintiffs’ rights under the Fair Housing Act. “The law discriminates against persons based on their race, color, and national origin, particularly Chinese persons, with respect to dwellings and residential real estate-related transactions.”

Finally, the plaintiffs ask that the law be declared unconstitutional under the U.S. Constitution’s Supremacy Clause and argue it is preempted by federal law. “The governor and legislators have repeatedly emphasized the need to take action ‘to stand against the United States’ greatest geopolitical threat—the Chinese Communist Party,’” write the plaintiffs. “Accordingly, the law violates the Supremacy Clause because it regulates a field exclusively occupied by the federal government, specifically, the intersection between foreign affairs, national security, and foreign investment, including foreign real estate acquisitions. In so doing, the new landownership prohibitions usurp the power vested by the Constitution and by Congress in the federal government to investigate, review, and take actions with respect to foreign investments, including real estate transactions that raise issues of national security.”

The plaintiffs ask the court for an injunction against the state of Florida from implementing and enforcing the law.

The Impact On U.S. Competitiveness In Attracting Talent

The new law is likely to have an impact on attracting talent to the United States. “China remains a vital source of high-skilled talent for the United States, especially in STEM [science, technology, engineering and math] fields where there is a particularly acute shortage of qualified U.S. workers,” said Fragomen’s Kevin Miner. “By making it more difficult for Chinese nationals to purchase property in Florida, employers who rely on foreign national talent from China and other affected countries may rethink plans to expand their operations into Florida, and this would mean that the jobs for American workers from such an expansion would go away as well.”

Perceptions of Chinese nationals toward the United States as a place to work and study could continue to erode in light of the new law. U.S. consular officers are still denying visas for Chinese graduate students based on the Chinese university they attended, as became apparent in this recent case of a Ph.D. student who cannot return to the United States to complete her doctoral research. Fewer international students from China have chosen to attend U.S. universities in recent years.

“The lawsuit makes an excellent point that regardless of what exceptions the statute may try to create, Chinese nationals will still be disadvantaged as buyers,” said Miner. “Real estate agents may be less willing to work with them, and sellers may be scared by the language of the law and choose not to sell property to a Chinese national. This is detrimental to people doing nothing more than trying to build a career and a life in the United States, and ultimately hurts U.S. competitiveness in the global economy.”

Sometimes it’s hard to start over with a completely clean slate. But, with housing, that’s the opportunity and that’s what Veev’s CEO and co-founder Amit Haller did when he launched the company in 2008 and what he has continued to do every day since.

Reimagining housing without the normal dictates of stakeholder operations has allowed Veev to create a new breed of housing with an efficient design and construction process, that is sustainable, that uses minimal labor, and that is high quality at a lower price point.

Some of the country’s largest housing organizations are stuck in decades or centuries old paradigms and cannot move past the relationships with operational processes that include multiple stakeholders and that also fix them to a point in time – basically the early 1800s.

Haller saw that this was handicapping the industry, so he tore it all down to start over. And, with his recent success, attracting funding partners such as BOND, LenX, Zeev Ventures, Fifth Wall, Brookfield Growth and JLL Spark, the company announced the launch of a single family home product.

“The most important asset for a family is the home,” said Noah Knauf, who is a general partner at BOND, an investment group keyed in on generational technology companies. “We looked at every company in the space over the years. Veev was the first time that we felt like the consumer wouldn’t have to make a quality or aesthetic compromise.”

I wrote this story about Veev in 2020, and now catching up with the company again three years later, it has 30 patents pending. Its advancements are more representative of a technology company and not at all like housing companies that have been using the same processes for decades with no change.

Veev headquarters are located in Hayward, CA, with a complementary location in Tel Aviv, putting the R&D team in the position to leverage international ideas and expertise. The name Veev also has global inspiration. It comes from a combination of the Latin, Spanish and French words for “to live.”

Seem like a unicorn? Probably because it is. Veev’s solution is completely unique, as I saw touring the facility.

Breaking Cost Barriers

The new headquarters will serve as its “Digital Fab,” or engineering center and production facility, aiming to deliver 500 homes per year. Through the innovative process of the new facility, a home can be constructed in just 30 days, including on site installation, and with an integrated smart home digital backbone.

One of the most amazing parts of Veev’s approach is its ability to lower cost. All its advanced features are included without a premium in cost, as the homes are priced at parity with the market and the company’s objective is to get below market average.

One way the company is able to manage the final costs of a home is by minimizing labor. With the digital processes in place, Veev is able to rely on skilled workers and doesn’t rely on traditional trades. Then, the onsite installation takes five people and a crane and can be done in four weeks. Currently, homes are shipped within a 150-mile radius to minimize transportation costs.

Jon Jaffe, co-president and co-CEO at one of the country’s largest builders, Lennar, and also an investor in Veev, predicted that it’s possible between 30 and 50% of homes will be built offsite in 5 years. Veev’s new facility is 250,000 square feet, yet it only needs 100,000 square feet to reach its goal of 500 homes per year operating on one shift with 45 people.

“In every other aspect of consumer goods, everything is made in factories,” Knauf said. “Once you figure out how to make it you keep making it the same every time. Homes are crazy to be built on site with a dozen different trades involved intersecting with all the challenges of regulations, inspections and lots of moving parts. It’s crazy to make one home at a time, making mistakes each time and not applying that learning to the next one. Then all the defects and problems are repeated in every single house.”

While Veev can accommodate any type of home design or aesthetic, the design is set in stone up front, so there are no change orders that would add time or cost to the project.

Veev also selected materials that can be used for multiple functions, it reduces options for the buyer, and saves operational expense since there isn’t the need to manage thousands of SKUs, also limiting the supply chain risks.

Going Beyond Innovation Wth Materials

Walking around the demo house feels pretty typical. It’s nice, modern, clean, thoughtful, functional, and soundproof, but that’s just the surface. Going below the surface uncovers its uniqueness.

To simplify and to achieve a higher quality, Veev manufactures glass windows and doors right in the facility, opting to follow the formula of an aluminum framed brand from Greece that uses heavier glass to improve sound and energy insulation. The company’s Laurel Street townhomes are just two blocks from a train station and residents don’t even hear the passing trains.

“There are always tradeoffs on material choices,” Haller said. “The glass we use is thicker, but the acoustic and thermal performance is better, the aluminum casing on the windows has a thermal breaker.”

While I was in the demo home, I pulled the generous sliding glass door shut and its solid feel did not disappoint. Even though it sits on the manufacturing floor, I couldn’t hear anything happening outside the house.

The inside and outside walls, doors, cabinets, countertops, trim and millwork are all high performance substrate. The move away from drywall delivers more environmentally-friendly, longer lasting product. The high performance substrate is the material used for introducing new capabilities, such as 3D printing for cladding that can replicate any texture or design.

For years, drywall has been used because onsite construction demands it as an easy way to correct for lumber frame on site with mudding and taping to smooth out imperfections. It still gets nicked, it gets wet and creates mold, and it’s a porous material that absorbs gases to pathogens.

The most common defects in homes are in drywall and paint, and those don’t exist in this home, Jaffe said, which also results in a lower warranty and a better experience for the buyer.

In the factory we walked past the rolls of light gauge steel used to build the wall panels. If you were using lumber you would need about 40 times more space, Haller said, which is not inconsequential to the manufacturing facility, the handling, and the transportation of the materials. So, the material reduces labor, space and environmental impact.

All of the steel is required by code to have numbers that are translated to the walls. So, if there is ever an issue, and Haller assured me that there is not a high likelihood, anyone can find the coil with the associated number and track it back to its origin. There is no similar code with lumber.

Homebuyer Experience

With a home purchase, the homebuyer gets access to an interactive user manual along with a Veev app that gives them the ability to control the home from one central location. And, if you are thinking, “that’s great, there are tons of apps that do that,” then think again. Veev went well beyond the basics.

Co-founder and chief product officer Ami Avrahami demonstrated how a homeowner can use the app to see inside the walls, including where the steel studs are, where the plumbing is, where electric runs – which is a dream for any maintenance work or when trying to find the best place to hang a picture.

This along with the home’s membrane ceiling makes it as close as possible to future proof. The ceilings that look like flat white ceilings, are actually polymer membranes stretched to any shape or size that can be easily pulled back to access the brains of the home, making it a plug and play, and just like a smart device, updates are sent out routinely to enhance what is in place.

Among the other app controls are full access to the LED lighting, including a circadian setting and custom moods unique to different members of the household with scheduled timing.

Veev homes have in-wall HVAC units that allow for a highly customized experience, even zones for every room that homeowners can set to their preferences using the app. Plus, the systems eliminate air ducts and refrigerant lines that might impact the design of the home, and it reduces operating costs.

Cutting Carbon and Waste

“When it comes to housing, people cannot afford to do good by the environment,” Jaffe said. “The homerun here is that it is all built in, you don’t need extras to do good by the environment.”

Veev’s process is able to reduce embodied carbon by 50%, and cut waste by 89% compared to traditional homes that have an average of 9,000 pounds of waste, so that means Veev is reducing it to less than 1,000 pounds. Completely believable as you walk through the manufacturing facility and see just a tiny handful of scraps from a complete panel assembly.

Another way Veev arrives at these sustainability goals is by a new foundation process that doesn’t use concrete, which is increasingly important as the state of California gets closer to banning the use of cement. As that ban takes place and builders are not flexible enough or fast enough to adopt new processes, another supply issue will be created that Veev will be able to fill.

Veev foundations are done with a helical pile that is a giant screw that goes into bedrock and there is a steel substructure, seismic, wind load bearing and simplifies and expedites the process. The system outperforms conventional foundations with flooding and earth movements, and it eliminates the concerns around cracking and curing.

Veev’s intelligent design also maximizes the use of every material. For instance, as mentioned, most of the interior is made with high performance substrate with steel studs all adding up to an R-20 value. So, when a door opening is cut out of a wall, that material is used for the door. If there are other cuts that are made, material from the cuts is used for the door trim, the millwork, or somehow assigned another function.

Digital fabrication starts with simple materials to get to precision, lower labor and higher quality and different technique. Everything is designed in BIM to give the machines a digital, precise instruction on where to make cuts, delivering accuracy to 1/16” with the flexibility to do any type of design.

Looking To The Future

“We have a housing market that desperately needs incremental production capacity,” Knauf said. “Given Veev’s ability to deliver both a high quality home and an affordable price point, the challenge will not be demand, but it will be ramping manufacturing capacity fast enough to make a dent in the housing deficit.”

In the future, the company plans to build a new facility in Texas to serve markets within its shipping radius.

“As much as we are proud of what we have managed to do, this is not a one company play, it’s not even a 100 company play, it is an industry play,” Haller said. “It really needs to be a collaborative effort by everyone in the industry. First and foremost, by the technology players and investors, those who can really press the right levers.”

Knauf believes that the U.S. is at a “Henry Ford” moment—where a huge portion of housing will transition to being built in a factory, and be produced at a higher quality and at a lower cost.

While Jaffe said that the only major advancement in housing over the decades has been indoor plumbing, he believes there is a big opportunity for innovation in the space of sewer and water recycling.

“You cannot be in this business if you don’t have a passion for building homes, the place that people live their lives,” Jaffe said. “This industry has a bigger impact than any other business, because everything happens around the home—it’s where you raise your family, celebrate birthdays, anniversaries, it’s where you nurse someone back to health, it’s where you mourn a loss, go home for holiday dinners.”

He’s driving LenX’s investment in Veev to deliver a better quality home, and at the same time to drive down the price curve to provide homeownership to more and more of the population.

May 25, 2023,07:38am EDT

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Does It Pay To Hide The Ball When Selling Real Estate?“,”scope”:{“topStory”:{“index”:4,”title”:”Does It Pay To Hide The Ball When Selling Real Estate?”,”image”:”https://specials-images.forbesimg.com/imageserve/64664da941c9f62a57b1abc8/290×0.jpg?cropX1=426&cropX2=2103&cropY1=0&cropY2=942″,”isHappeningNowArticle”:false,”date”:{“monthDayYear”:”May 24, 2023″,”hourMinute”:”10:00″,”amPm”:”am”,”isEDT”:true,”unformattedDate”:1684936800000},”uri”:”https://www.forbes.com/sites/joshuastein/2023/05/24/does-it-pay-to-hide-the-ball-when-selling-real-estate/”}},”id”:”9dad88193k5800″},{“textContent”:”

May 23, 2023,10:00am EDT

In A Limited Liability Company, Ownership Doesn’t Necessarily Include Control Of Any Decisions“,”scope”:{“topStory”:{“index”:5,”title”:”In A Limited Liability Company, Ownership Doesn’t Necessarily Include Control Of Any Decisions”,”image”:”https://specials-images.forbesimg.com/imageserve/64664a7657c0211675b1abc6/290×0.jpg?cropX1=0&cropX2=2416&cropY1=124&cropY2=1484″,”isHappeningNowArticle”:false,”date”:{“monthDayYear”:”May 23, 2023″,”hourMinute”:”10:00″,”amPm”:”am”,”isEDT”:true,”unformattedDate”:1684850400000},”uri”:”https://www.forbes.com/sites/joshuastein/2023/05/23/in-a-limited-liability-company-ownership-doesnt-necessarily-include-control-of-any-decisions/”}},”id”:”5qacp8khe3kg00″},{“textContent”:”

May 23, 2023,07:00am EDT

Experts Share 2023’s Top Outdoor Living Trends And Ideas“,”scope”:{“topStory”:{“index”:6,”title”:”Experts Share 2023’s Top Outdoor Living Trends And Ideas”,”image”:”https://specials-images.forbesimg.com/imageserve/646bd8f03506b5af87b502f7/290×0.jpg”,”isHappeningNowArticle”:false,”date”:{“monthDayYear”:”May 23, 2023″,”hourMinute”:”07:00″,”amPm”:”am”,”isEDT”:true,”unformattedDate”:1684839600000},”uri”:”https://www.forbes.com/sites/jamiegold/2023/05/23/experts-share-2023s-top-outdoor-living-trends-and-ideas/”}},”id”:”636la6m2bcog00″},{“textContent”:”

May 22, 2023,04:38pm EDT

Interior Designers Share Seven Modern Design Tips You Haven’t Heard About Before“,”scope”:{“topStory”:{“index”:7,”title”:”Interior Designers Share Seven Modern Design Tips You Haven’t Heard About Before”,”image”:”https://specials-images.forbesimg.com/imageserve/646bbc45c179b9a417a4f422/290×0.jpg”,”isHappeningNowArticle”:false,”date”:{“monthDayYear”:”May 22, 2023″,”hourMinute”:”04:38″,”amPm”:”pm”,”isEDT”:true,”unformattedDate”:1684787928450},”uri”:”https://www.forbes.com/sites/amandalauren/2023/05/22/interior-designers-share-seven-modern-design-tips-you-havent-about-heard-before/”}},”id”:”b3f21qgr8r1400″}],”breakpoints”:[{“breakpoint”:”@media all and (max-width: 767px)”,”config”:{“enabled”:false}},{“breakpoint”:”@media all and (max-width: 768px)”,”config”:{“inView”:2,”slidesToScroll”:1}},{“breakpoint”:”@media all and (min-width: 1681px)”,”config”:{“inView”:6}}]};

May 24, 2023,10:00am EDT

Does It Pay To Hide The Ball When Selling Real Estate?“,”scope”:{“topStory”:{“index”:1,”title”:”Does It Pay To Hide The Ball When Selling Real Estate?”,”image”:”https://specials-images.forbesimg.com/imageserve/64664da941c9f62a57b1abc8/290×0.jpg?cropX1=426&cropX2=2103&cropY1=0&cropY2=942″,”isHappeningNowArticle”:false,”date”:{“monthDayYear”:”May 24, 2023″,”hourMinute”:”10:00″,”amPm”:”am”,”isEDT”:true,”unformattedDate”:1684936800000},”uri”:”https://www.forbes.com/sites/joshuastein/2023/05/24/does-it-pay-to-hide-the-ball-when-selling-real-estate/”}},”id”:”109g4r1fk34jc0″},{“textContent”:”

May 23, 2023,10:00am EDT

In A Limited Liability Company, Ownership Doesn’t Necessarily Include Control Of Any Decisions“,”scope”:{“topStory”:{“index”:2,”title”:”In A Limited Liability Company, Ownership Doesn’t Necessarily Include Control Of Any Decisions”,”image”:”https://specials-images.forbesimg.com/imageserve/64664a7657c0211675b1abc6/290×0.jpg?cropX1=0&cropX2=2416&cropY1=124&cropY2=1484″,”isHappeningNowArticle”:false,”date”:{“monthDayYear”:”May 23, 2023″,”hourMinute”:”10:00″,”amPm”:”am”,”isEDT”:true,”unformattedDate”:1684850400000},”uri”:”https://www.forbes.com/sites/joshuastein/2023/05/23/in-a-limited-liability-company-ownership-doesnt-necessarily-include-control-of-any-decisions/”}},”id”:”c10cre58p8cg00″},{“textContent”:”

May 23, 2023,07:00am EDT

Experts Share 2023’s Top Outdoor Living Trends And Ideas“,”scope”:{“topStory”:{“index”:3,”title”:”Experts Share 2023’s Top Outdoor Living Trends And Ideas”,”image”:”https://specials-images.forbesimg.com/imageserve/646bd8f03506b5af87b502f7/290×0.jpg”,”isHappeningNowArticle”:false,”date”:{“monthDayYear”:”May 23, 2023″,”hourMinute”:”07:00″,”amPm”:”am”,”isEDT”:true,”unformattedDate”:1684839600000},”uri”:”https://www.forbes.com/sites/jamiegold/2023/05/23/experts-share-2023s-top-outdoor-living-trends-and-ideas/”}},”id”:”alpm95pdkg5400″},{“textContent”:”

May 22, 2023,04:38pm EDT

Interior Designers Share Seven Modern Design Tips You Haven’t About Heard Before“,”scope”:{“topStory”:{“index”:4,”title”:”Interior Designers Share Seven Modern Design Tips You Haven’t About Heard Before”,”image”:”https://specials-images.forbesimg.com/imageserve/646bbc45c179b9a417a4f422/290×0.jpg”,”isHappeningNowArticle”:false,”date”:{“monthDayYear”:”May 22, 2023″,”hourMinute”:”04:38″,”amPm”:”pm”,”isEDT”:true,”unformattedDate”:1684787928450},”uri”:”https://www.forbes.com/sites/amandalauren/2023/05/22/interior-designers-share-seven-modern-design-tips-you-havent-about-heard-before/”}},”id”:”8rif40r24e2o00″},{“textContent”:”

May 22, 2023,10:00am EDT

Unexpected Liability For Owners Of Small Businesses“,”scope”:{“topStory”:{“index”:5,”title”:”Unexpected Liability For Owners Of Small Businesses”,”image”:”https://specials-images.forbesimg.com/imageserve/646640ee54906d92b4b1abc6/290×0.jpg?cropX1=0&cropX2=2011&cropY1=103&cropY2=1235″,”isHappeningNowArticle”:false,”date”:{“monthDayYear”:”May 22, 2023″,”hourMinute”:”10:00″,”amPm”:”am”,”isEDT”:true,”unformattedDate”:1684764000000},”uri”:”https://www.forbes.com/sites/joshuastein/2023/05/22/unexpected-liability-for-owners-of-small-businesses/”}},”id”:”c0r3a7hj6b9400″},{“textContent”:”

May 19, 2023,11:39am EDT

Style Abounds At The Fleur Noire Hotel In Palm Springs“,”scope”:{“topStory”:{“index”:6,”title”:”Style Abounds At The Fleur Noire Hotel In Palm Springs”,”image”:”https://specials-images.forbesimg.com/imageserve/646af22536d25d52c9a0589b/290×0.jpg”,”isHappeningNowArticle”:false,”date”:{“monthDayYear”:”May 19, 2023″,”hourMinute”:”11:39″,”amPm”:”am”,”isEDT”:true,”unformattedDate”:1684510755553},”uri”:”https://www.forbes.com/sites/amandalauren/2023/05/19/style-abounds-at-the-fleur-noire-hotel-in-palm-springs/”}},”id”:”c26poj48790g00″},{“textContent”:”

May 19, 2023,10:00am EDT

How To Reduce The Risk Of Stolen Escrowed Funds For Closings“,”scope”:{“topStory”:{“index”:7,”title”:”How To Reduce The Risk Of Stolen Escrowed Funds For Closings”,”image”:”https://specials-images.forbesimg.com/imageserve/64663c97af1541393241e295/290×0.jpg?cropX1=0&cropX2=737&cropY1=0&cropY2=414″,”isHappeningNowArticle”:false,”date”:{“monthDayYear”:”May 19, 2023″,”hourMinute”:”10:00″,”amPm”:”am”,”isEDT”:true,”unformattedDate”:1684504800000},”uri”:”https://www.forbes.com/sites/joshuastein/2023/05/19/risks-of-using-local-independent-escrow-companies-instead-of-national-title-insurance-companies/”}},”id”:”9d1oag7jk0lk00″}],”breakpoints”:[{“breakpoint”:”@media all and (max-width: 767px)”,”config”:{“enabled”:false}},{“breakpoint”:”@media all and (max-width: 768px)”,”config”:{“inView”:2,”slidesToScroll”:1}},{“breakpoint”:”@media all and (min-width: 1681px)”,”config”:{“inView”:6}}]};

May 23, 2023,10:00am EDT

In A Limited Liability Company, Ownership Doesn’t Necessarily Include Control Of Any Decisions“,”scope”:{“topStory”:{“index”:1,”title”:”In A Limited Liability Company, Ownership Doesn’t Necessarily Include Control Of Any Decisions”,”image”:”https://specials-images.forbesimg.com/imageserve/64664a7657c0211675b1abc6/290×0.jpg?cropX1=0&cropX2=2416&cropY1=124&cropY2=1484″,”isHappeningNowArticle”:false,”date”:{“monthDayYear”:”May 23, 2023″,”hourMinute”:”10:00″,”amPm”:”am”,”isEDT”:true,”unformattedDate”:1684850400000},”uri”:”https://www.forbes.com/sites/joshuastein/2023/05/23/in-a-limited-liability-company-ownership-doesnt-necessarily-include-control-of-any-decisions/”}},”id”:”5ekbf3dd6p4000″},{“textContent”:”

May 23, 2023,07:00am EDT

Experts Share 2023’s Top Outdoor Living Trends And Ideas“,”scope”:{“topStory”:{“index”:2,”title”:”Experts Share 2023’s Top Outdoor Living Trends And Ideas”,”image”:”https://specials-images.forbesimg.com/imageserve/646bd8f03506b5af87b502f7/290×0.jpg”,”isHappeningNowArticle”:false,”date”:{“monthDayYear”:”May 23, 2023″,”hourMinute”:”07:00″,”amPm”:”am”,”isEDT”:true,”unformattedDate”:1684839600000},”uri”:”https://www.forbes.com/sites/jamiegold/2023/05/23/experts-share-2023s-top-outdoor-living-trends-and-ideas/”}},”id”:”47qkplp82abg0″},{“textContent”:”

May 22, 2023,04:38pm EDT

Interior Designers Share Seven Modern Design Tips You Haven’t About Heard Before“,”scope”:{“topStory”:{“index”:3,”title”:”Interior Designers Share Seven Modern Design Tips You Haven’t About Heard Before”,”image”:”https://specials-images.forbesimg.com/imageserve/646bbc45c179b9a417a4f422/290×0.jpg”,”isHappeningNowArticle”:false,”date”:{“monthDayYear”:”May 22, 2023″,”hourMinute”:”04:38″,”amPm”:”pm”,”isEDT”:true,”unformattedDate”:1684787928450},”uri”:”https://www.forbes.com/sites/amandalauren/2023/05/22/interior-designers-share-seven-modern-design-tips-you-havent-about-heard-before/”}},”id”:”4g5ijp2l4ck000″},{“textContent”:”

May 22, 2023,10:00am EDT

Unexpected Liability For Owners Of Small Businesses“,”scope”:{“topStory”:{“index”:4,”title”:”Unexpected Liability For Owners Of Small Businesses”,”image”:”https://specials-images.forbesimg.com/imageserve/646640ee54906d92b4b1abc6/290×0.jpg?cropX1=0&cropX2=2011&cropY1=103&cropY2=1235″,”isHappeningNowArticle”:false,”date”:{“monthDayYear”:”May 22, 2023″,”hourMinute”:”10:00″,”amPm”:”am”,”isEDT”:true,”unformattedDate”:1684764000000},”uri”:”https://www.forbes.com/sites/joshuastein/2023/05/22/unexpected-liability-for-owners-of-small-businesses/”}},”id”:”ep2pq3jqdeq800″},{“textContent”:”

May 19, 2023,11:39am EDT

Style Abounds At The Fleur Noire Hotel In Palm Springs“,”scope”:{“topStory”:{“index”:5,”title”:”Style Abounds At The Fleur Noire Hotel In Palm Springs”,”image”:”https://specials-images.forbesimg.com/imageserve/646af22536d25d52c9a0589b/290×0.jpg”,”isHappeningNowArticle”:false,”date”:{“monthDayYear”:”May 19, 2023″,”hourMinute”:”11:39″,”amPm”:”am”,”isEDT”:true,”unformattedDate”:1684510755553},”uri”:”https://www.forbes.com/sites/amandalauren/2023/05/19/style-abounds-at-the-fleur-noire-hotel-in-palm-springs/”}},”id”:”75jame0n6g4000″},{“textContent”:”

May 19, 2023,10:00am EDT

How To Reduce The Risk Of Stolen Escrowed Funds For Closings“,”scope”:{“topStory”:{“index”:6,”title”:”How To Reduce The Risk Of Stolen Escrowed Funds For Closings”,”image”:”https://specials-images.forbesimg.com/imageserve/64663c97af1541393241e295/290×0.jpg?cropX1=0&cropX2=737&cropY1=0&cropY2=414″,”isHappeningNowArticle”:false,”date”:{“monthDayYear”:”May 19, 2023″,”hourMinute”:”10:00″,”amPm”:”am”,”isEDT”:true,”unformattedDate”:1684504800000},”uri”:”https://www.forbes.com/sites/joshuastein/2023/05/19/risks-of-using-local-independent-escrow-companies-instead-of-national-title-insurance-companies/”}},”id”:”64i5pb09fh8000″},{“textContent”:”

May 16, 2023,02:32pm EDT

If The Debt Ceiling Isn’t Raised, Higher Mortgage Rates Will Hurt Home Sales“,”scope”:{“topStory”:{“index”:7,”title”:”If The Debt Ceiling Isn’t Raised, Higher Mortgage Rates Will Hurt Home Sales”,”image”:”https://specials-images.forbesimg.com/imageserve/6463ab261614124fc876b72a/290×0.jpg”,”isHappeningNowArticle”:false,”date”:{“monthDayYear”:”May 16, 2023″,”hourMinute”:”02:32″,”amPm”:”pm”,”isEDT”:true,”unformattedDate”:1684261964957},”uri”:”https://www.forbes.com/sites/kathleenhowley/2023/05/16/if-the-debt-ceiling-isnt-raised-higher-mortgage-rates-will-hurt-home-sales/”}},”id”:”9jg6rpn0439400″}],”breakpoints”:[{“breakpoint”:”@media all and (max-width: 767px)”,”config”:{“enabled”:false}},{“breakpoint”:”@media all and (max-width: 768px)”,”config”:{“inView”:2,”slidesToScroll”:1}},{“breakpoint”:”@media all and (min-width: 1681px)”,”config”:{“inView”:6}}]};

May 23, 2023,07:00am EDT

Experts Share 2023’s Top Outdoor Living Trends And Ideas“,”scope”:{“topStory”:{“index”:1,”title”:”Experts Share 2023’s Top Outdoor Living Trends And Ideas”,”image”:”https://specials-images.forbesimg.com/imageserve/646bd8f03506b5af87b502f7/290×0.jpg”,”isHappeningNowArticle”:false,”date”:{“monthDayYear”:”May 23, 2023″,”hourMinute”:”07:00″,”amPm”:”am”,”isEDT”:true,”unformattedDate”:1684839600000},”uri”:”https://www.forbes.com/sites/jamiegold/2023/05/23/experts-share-2023s-top-outdoor-living-trends-and-ideas/”}},”id”:”48qp6rbdeh5400″},{“textContent”:”

May 22, 2023,04:38pm EDT

Interior Designers Share Seven Modern Design Tips You Haven’t About Heard Before“,”scope”:{“topStory”:{“index”:2,”title”:”Interior Designers Share Seven Modern Design Tips You Haven’t About Heard Before”,”image”:”https://specials-images.forbesimg.com/imageserve/646bbc45c179b9a417a4f422/290×0.jpg”,”isHappeningNowArticle”:false,”date”:{“monthDayYear”:”May 22, 2023″,”hourMinute”:”04:38″,”amPm”:”pm”,”isEDT”:true,”unformattedDate”:1684787928450},”uri”:”https://www.forbes.com/sites/amandalauren/2023/05/22/interior-designers-share-seven-modern-design-tips-you-havent-about-heard-before/”}},”id”:”2rrc5rofpejg00″},{“textContent”:”

May 22, 2023,10:00am EDT

Unexpected Liability For Owners Of Small Businesses“,”scope”:{“topStory”:{“index”:3,”title”:”Unexpected Liability For Owners Of Small Businesses”,”image”:”https://specials-images.forbesimg.com/imageserve/646640ee54906d92b4b1abc6/290×0.jpg?cropX1=0&cropX2=2011&cropY1=103&cropY2=1235″,”isHappeningNowArticle”:false,”date”:{“monthDayYear”:”May 22, 2023″,”hourMinute”:”10:00″,”amPm”:”am”,”isEDT”:true,”unformattedDate”:1684764000000},”uri”:”https://www.forbes.com/sites/joshuastein/2023/05/22/unexpected-liability-for-owners-of-small-businesses/”}},”id”:”3n03bq55b0e400″},{“textContent”:”

May 19, 2023,11:39am EDT

Style Abounds At The Fleur Noire Hotel In Palm Springs“,”scope”:{“topStory”:{“index”:4,”title”:”Style Abounds At The Fleur Noire Hotel In Palm Springs”,”image”:”https://specials-images.forbesimg.com/imageserve/646af22536d25d52c9a0589b/290×0.jpg”,”isHappeningNowArticle”:false,”date”:{“monthDayYear”:”May 19, 2023″,”hourMinute”:”11:39″,”amPm”:”am”,”isEDT”:true,”unformattedDate”:1684510755553},”uri”:”https://www.forbes.com/sites/amandalauren/2023/05/19/style-abounds-at-the-fleur-noire-hotel-in-palm-springs/”}},”id”:”77lq6ib22k0000″},{“textContent”:”

May 19, 2023,10:00am EDT

How To Reduce The Risk Of Stolen Escrowed Funds For Closings“,”scope”:{“topStory”:{“index”:5,”title”:”How To Reduce The Risk Of Stolen Escrowed Funds For Closings”,”image”:”https://specials-images.forbesimg.com/imageserve/64663c97af1541393241e295/290×0.jpg?cropX1=0&cropX2=737&cropY1=0&cropY2=414″,”isHappeningNowArticle”:false,”date”:{“monthDayYear”:”May 19, 2023″,”hourMinute”:”10:00″,”amPm”:”am”,”isEDT”:true,”unformattedDate”:1684504800000},”uri”:”https://www.forbes.com/sites/joshuastein/2023/05/19/risks-of-using-local-independent-escrow-companies-instead-of-national-title-insurance-companies/”}},”id”:”8pqlrg10kfjc00″},{“textContent”:”

May 16, 2023,02:32pm EDT

If The Debt Ceiling Isn’t Raised, Higher Mortgage Rates Will Hurt Home Sales“,”scope”:{“topStory”:{“index”:6,”title”:”If The Debt Ceiling Isn’t Raised, Higher Mortgage Rates Will Hurt Home Sales”,”image”:”https://specials-images.forbesimg.com/imageserve/6463ab261614124fc876b72a/290×0.jpg”,”isHappeningNowArticle”:false,”date”:{“monthDayYear”:”May 16, 2023″,”hourMinute”:”02:32″,”amPm”:”pm”,”isEDT”:true,”unformattedDate”:1684261964957},”uri”:”https://www.forbes.com/sites/kathleenhowley/2023/05/16/if-the-debt-ceiling-isnt-raised-higher-mortgage-rates-will-hurt-home-sales/”}},”id”:”crl5n764542o00″},{“textContent”:”

May 16, 2023,09:00am EDT

Upscale Buyers Turning To Luxe Turnkey Residences“,”scope”:{“topStory”:{“index”:7,”title”:”Upscale Buyers Turning To Luxe Turnkey Residences”,”image”:”https://specials-images.forbesimg.com/imageserve/646279433c03f97f86dd3ff9/290×0.jpg?cropX1=0&cropX2=1920&cropY1=99&cropY2=1178″,”isHappeningNowArticle”:false,”date”:{“monthDayYear”:”May 16, 2023″,”hourMinute”:”09:00″,”amPm”:”am”,”isEDT”:true,”unformattedDate”:1684242000000},”uri”:”https://www.forbes.com/sites/jeffsteele/2023/05/16/upscale-buyers-turning-to-luxe-turnkey-residences/”}},”id”:”9aakac11691o00″}],”breakpoints”:[{“breakpoint”:”@media all and (max-width: 767px)”,”config”:{“enabled”:false}},{“breakpoint”:”@media all and (max-width: 768px)”,”config”:{“inView”:2,”slidesToScroll”:1}},{“breakpoint”:”@media all and (min-width: 1681px)”,”config”:{“inView”:6}}]};

Investors looking at development opportunities may face obstacles this year as speculation about a recession looms and interest rates rise. The market uncertainty and shifting demand could cause extensive delays or abandoned developments. Property developers, who are the parties that oversee the project, will need to make tough decisions ahead.

If you’re thinking about investing in a development project, there can be higher returns, but a lot more risk too. In this article of the series, “Making Investing Decisions in Today’s Real Estate Market,” we’ll go over some of the factors that need to be weighed as you consider development investments. (See the first, second, third, and fourth articles of the series.) Keep these in mind as you peruse land for sale.

Look at entitlement requirements: Getting entitlement refers to the legal process you’ll need to go through to obtain a city’s approval for your project. Some places, such as New York City, grant a right of development which allows you to build without seeking entitlements. Still, there could be a variety of issues and complications that arise. You might face restrictions in historic districts or neighborhoods near transportation infrastructure, which could ultimately make it difficult to build. Bring in zoning and transactional counsel when going through the approval process. To avoid risk, you might look for projects that are already fully entitled.

Be aware of environmental issues: Is it possible to build on the land you buy, based on the soil’s consistency? Will your project interfere with environmental codes in the region? You’ll need a Phase 1 Environmental Site Assessment, which will research the history of the project. If there is reason to believe that contamination is possible, you may need a Phase 2 Environmental Site Assessment. This step involves soil samples. Gather good counsel for this, as making a clean environmental report (or at least capping the exposure) will be essential in a contract.

Recognize capital for development is key: Even if you create a timeline for your business plan, delays for approvals and supplies could lead to long wait periods. Unexpected costs might increase your forecasted financial needs. If you are not properly capitalized, and you borrow money or commit to paying returns to a group of investors, it could drain the cash flow of the project.

That said, some savvy investors do look to get sites tied up, meaning they put soft deposits on contracts that are contingent on approvals. If you’re able to do this, and you’re willing to speculate the cost to get entitlements and approvals, that could be a way to come out ahead. You might sell or flip the contract to get a return. (However, remember there is no guarantee in this space!)

Know that lenders will be careful: Getting financing can be especially tough in today’s market. Lenders tend to be very cautious about the riskiest types of real estate investing, meaning they will often only look to provide construction financing for the most experienced and credited developers. Oftentimes, the construction loans require personal guarantees. For a private individual, this could be catastrophic if the project falls through. It’s essential to consult your attorney before moving forward. Also check with a mortgage broker to understand the realities of financing in today’s market.

Ask about incentives for development: If your city or state offers assistance for projects, it can open doors to opportunities and ease the cost burden. In some markets, these perks are virtually a requirement to get started. For instance, with the current land prices in New York City, it can be tough to make the numbers work for rental development without a tax abatement. Other municipalities might have pilot programs or incentives based on your project’s plan to support public infrastructure.

In certain pro development markets, such as Houston, it could be easier to build. However, that also creates a chance for a neighboring developer to step in and compete with your project. Oftentimes it’s helpful if there’s income in place, such as from a parking operator or short-term retail tenants. In these cases, make sure the leases are all cancellable so they don’t hold up your development.

Finally, remember that when you’re investing in a development project, it’s not a question of where the market is today. You’ll want to be looking two to three years down the road, when the project is ready to bring to market. It can be difficult to predict the future, but if you’re in a supplied constrained market and you deliver the right product at the right time, it can lead to a very successful project.