Authorities in California announced on Oct. 19 that 15 individuals were taken into custody following sting operations in several counties. The individuals are alleged to have solicited contracting jobs without a state-issued license. Under California law, contractors performing work valued at $500 or more must be licensed. The arrests were part of a statewide crackdown on unlicensed contracting. The individuals face fines of between $700 and $5,000 and could be sentenced to up to six months in jail.
Commercial real estate investing tips
Many people in California begin investing in real estate by purchasing residential properties. After having success in the residential real estate market, an investor may want to consider getting into the commercial real estate market. Commercial properties can be much more profitable than residential real estate, and they can often provide passive income that is valuable during retirement.
REITs and commercial real estate
California investors may be familiar with real estate investment trusts. REITs allow investors to enjoy the benefits of commercial real estate ownership without being burdened by the associated management responsibilities and obligations. REIT shares can be purchased on the open market, and these vehicles often concentrate on a particular type of commercial property, such as apartment complexes, warehouses, retail shopping centers and office buildings.
ULI issues real estate projections for 2015-2017
The Urban Land Center for Capital Markets and Real Estate has issued its semiannual ULI Real Estate Consensus Forecast, and the document provides important real estate predictions for investors in California and around the country. Overall, analysts believe the U.S. real estate market will remain strong for the next three years. However, there are some new concerns about global growth and stability.
