Commercial real estate is a property that is designed solely for business purposes in order to make a profit. Types of commercial real estate include malls, office parks, restaurants, gas stations, convenience stores, and office towers. Industrial real estate, which is used for manufacturing and production purposes, can also be considered a type of commercial real estate.
Investing in Florida commercial real estate can produce a great income for the owner, but it usually requires a considerable amount of start-up capital. Also, you should be sure to have assistance in the legal, financial, and regulatory aspects of owning a piece of Florida commercial real estate.
Boyer Law Firm’s real estate attorneys can help you with every aspect of owning a Florida commercial real estate property including finding the property, negotiating the Purchase/Sale agreement, the closing on the property, drafting and reviewing leases for tenants, and much more. Contact us today to see how we can help you invest in Florida commercial real estate.
Although simply investing in Florida commercial real estate is not a path to an investors’ visa, Boyer Law Firm may be able to help you create a business that buys, sells, and manages real estate. If the investment is great enough, it may lead to an investors’ visa, such as an E2 or EB5 visa.
Governor Rick Scott stated the following reasons that businesses are attracted to Florida:
- The state has cut 2,600 regulations
- The state has reduced business and property taxes
- The state has cut sales tax on machinery equipment
“There’s no company in this country that shouldn’t want to be headquartered in this state and grow in this state,” Gov. Scott said.
If you are interested in starting a business in Florida, domesticating a foreign entity, or need advice about how to open a business in Florida, contact Boyer Law Firm’s business law attorneys today. If you are not a US citizen and are interested in investing in a business, this could also be a path toward an investors’ visa.
Source: NFW Daily News
Rent is increasing not only in South Florida, but throughout the State. As a result more and more young people and younger families are purchasing their first Florida home. If you are in this position, here are some tips that will help you:
- Consider whether renting or owning a property is best for you
- Consider if you will rent or stay with family while saving for a down payment
- Make the largest down payment you can, as this will affect your mortgage payments most
- Shop around for mortgage lenders. Pay attention to interest rates and fees.
- Choose a home that you can see yourself living in for at least 5 years;
- Maintain good credit
Whether you are just beginning your search for a Florida home or you already found the home of your dreams, contact Boyer Law Firm’s Real Estate Attorneys today. They can help you with everything from finding a home, to drafting the contract, all the way through the closing.
Futuristic devices and new technologies always interest the American public, but certain pitfalls, such as failed marketing strategies, defects in the tech products, high costs, competition and/or a lack of interest from the public, can cause the product and technology company to fail. Here are some examples:
The Segway: Few embraced this new technology because it failed to fulfill a need in the population. Also, Jimi Heselden, the owner of Segway, Inc. died in September 2010 when he drove a Segway scooter off a cliff into a river contributing to a negative perspective from the American public.
Betamax videotape recorder: This product failed because it lost the competition for popularity to VHS.
Microsoft BOB: This operating system released in 1995 failed because of how hard it was to use. Many other software and operating systems have failed for this same reason.
TwitterPeek: This device was designed to replace smartphones with an all-tweet alternative. Its limited use led to its ultimate failure.
Ping: This social networking system released by iTunes in 2012 due to competition from Facebook and Twitter. iTunes decided to launch an integration with these social networking sites as an alternative.
Satellite Phones: This new technology failed due to the high cost and unreliable service.
Avoid these pitfalls by making sure that you have a reliable product, a public need for the product and a solid business plan.
If you are interested in creating a technology business, contact one of Boyer Law Firm’s business law attorneys today.
Both branch offices and subsidiaries are separate locations where business is conducted from the main office of the corporation. The major difference between these is that a subsidiary is a separate legal entity, while a branch office is the same entity as the parent, or larger, corporation.
Although branch offices are sometimes a good idea for domestic companies, it is usually a better idea for foreign corporations to setup US subsidiaries to conduct business in the US for both tax purposes and liability issues.
Subsidiaries can be formed by purchasing a controlling interest in an existing company or by creating the company itself. The most common forms of subsidiaries are corporations or LLCs. The parent company has a duty to the subsidiary to promote the subsidiary’s corporate interest, act in its best interest, and to maintain a separate corporate identity. If the parent company fails to meet these requirements, the courts will view the two entities as one for liability purposes.
**Remember, if you are not currently conducting business in Florida and you want to setup a branch office or subsidiary, you must register to do business in Florida.**
If you are interested in setting up US subsidiaries or registering to do business in Florida, contact Boyer Law Firm’s business law attorneys today.
The cost of rent in South Florida now often matches or exceeds the cost of the mortgage on the property. This is good news for homeowners, especially those who own properties that they rent out.
The median price for a home in Miami is $130,000, and the average rent has climbed to $1,236.
A study by the national housing group says that the increased rent in South Florida is due to depressed real estate values and a limited number of homes available, leading to an increase in rent rates. Rental properties are a good source of income, and with the reduced value of real estate property, now is the time to buy.
If you are interested in purchasing a rental property or apartment complex, or if you are tired of paying rent and are interested in purchasing a home, contact Boyer Law Firm’s real estate attorneys today.
House prices in England and Wales reached an all-time high in July primarily due to a huge demand for property. Due to these high home prices, many English residents are buying real estate elsewhere, including Florida.
The average price of a two-bedroom flat or maisonette in Wales is currently £230,000, or approximately $357,098.00. According to YourMoney.com, you can get a Florida mansion for the price of an English flat, specifically a five bedroom home complete with theater room, billiard room, and a swimming pool with a mini-waterfall in a gated golf complex in Winter Garden, Florida.
There are many beautiful properties throughout Florida. Whether you are interested in purchasing a summer home or a permanent residence in Florida, contact Boyer Law Firm’s Real Estate Attorneys today.
While there are exceptions to every rule, Florida Statute 501.0117 states:
“A seller or lessor in a sales or lease transaction may not impose a surcharge on the buyer or lessee for electing to use a credit card in lieu of payment by cash, check or similar means, if the seller or lessor accepts payment by credit card. A surcharge is any additional amount imposed at the time of a sale or lease transaction by the seller or lessor that increases the charge to the buyer or lessee for the privilege of using a credit card to make payment.”
Despite this clearly defined law, many merchants still charge buyers a credit card surcharge in Florida, and some Florida attorneys even have a surcharge clause in their fee agreements!
Visa, Mastercard, Discover, and American Express are allowed to charge processing fees to merchants, and in a landmark agreement following a class action suit, the credit card companies recently started permitting merchants to pass on their processing fees to consumers, but Florida still bans this practice.
Lawmakers have told merchants that they may deduct these fees as a business expense on their taxes, but they cannot pass the charge on to consumers. However, merchants are allowed to offer a “cash discount.” This is when the merchant will said the price of the item is $50, but they will reduce the price to $47 if you pay cash.
Source: Boca News Now
France topped the list of consumers searching for properties in Miami on the Miami Association of Realtors’ website in June, second only to the U.S. This is the second time this year that France has topped the list of foreign real estate investors in Miami this year; the first time was in April.
France consistently ranks in the top seven countries for foreign real estate investors in Miami, higher than any other European Country.
This growth is believed to be due to Miami’s exhibitions at the Paris expo since 2005 and the agreement they signed that same year with FNAIM-Paris- Ile de France, the real estate association of Paris.
“It is very impressive to see Miami’s global prominence as we increasingly attract more consumers from a more diverse group of nations,” said MIAMI Association of REALTORS Residential President Fenando I. Martines. “Foreign buyers and investors have fueled the strengthening of the Miami market unlike any other city in the U.S.”
Other countries that topped the list of foreign real estate investors in Miami included Canada, Brazil, Venezuela, and Argentina.
If you are interested in investing in real estate in Miami or another part of Florida, contact Boyer Law Firm’s real estate attorneys and closing agents today!
When incorporating your business in Florida, choosing a name for your Florida business is very important. Although it is a good idea to be creative, it is more important to choose a name that conveys to your customers what you do and how you can help them.
“[Your business name] represents in words what you do, and it must be vetted very carefully to ensure it says the right thing,” Jerry Osteryoung writes. “Jones Services could be just about anything, whereas Awards4U leaves little room to wonder.”
Osteryoung also suggests that the business name may need to change over time as your business’ goals and services change and grow. For example, Florida Business XYZ may become US Business XYZ or Global Business XYZ when it starts doing business in places other than Florida; otherwise you are alienating part of your client base.
In Florida, you cannot have the same legal name as another company; however, you do have the option to register your company under a fictitious name, also known as a “Doing Business As” or “DBA” name. Companies that register a fictitious name do not have the legal rights to that name.
For more information about incorporating your business in Florida, choosing a name for your Florida business, changing the name of your business, registering a fictitious name, or other business planning services, contact Boyer Law Firm’s business law attorneys today.
Source: Florida Trend
When most people think about Jacksonville, they do not think about the historical aspects of the city, including the historically significant houses in Jacksonville built in the 19th Century.
A house on Palmer Terrace, off Atlantic Boulevard, is one of the historically significant houses in Jacksonville that recently sold for around $700,000. It was built in 1882 by Judge Rhydon Mays Call, a U.S. district court judge. Call’s father was a state senator and Confederate Army general, and his grandfather was a personal aide to Andrew Jackson and a twice territorial governor of Florida.
“It’s really one of the few houses still remaining from that era,” said Wayne Wood, author of “Jacksonville’s Architectural Heritage.” Most of the historically significant homes in Jacksonville were winter homes for wealthy northerners, but Call’s home was his residence.
Buying one of the historically significant houses in Jacksonville can be very rewarding, but the buyer must be careful.
Central Florida and Orlando business success is due to three things according to the Orlando Business Journal: Business incubators, demographics, and tourism.
A business incubator is a program designed to support entrepreneurism through business support resources and services. The University of Central Florida already has a Business Incubation Program, and they plan to create two new programs: one for international companies trying to break into the U.S. Market, and one for military veterans looking to start a business.
“We will give them flexible leases on space and a proper introduction to the community to spread the word,” Gordon Hogan, director of the UCF Business Incubation Program, said.
Demographics in Central Florida are strong and growing, and they are a contributing factor to Central Florida and Orlando business success.
“Our market is on a good trajectory, and we also have a good quality of life,” UCF Economist Sean Snaith said. Central Florida also benefits from post-secondary schools in the area, including UCF, community colleges, and specialty schools like Full Sail University.
Tourism is Central Florida’s top industry, making it a major contributor to Orlando business success. Disney World and Universal Studios attract people from all over the world including professionals that bring new ideas to the area.
If you are interested in starting or running a business in the Central Florida, contact Boyer Law Firm’s business law attorneys today!
Source: Orlando Business Journal
The success of St Johns Town Center is enticing retailers to come to Jacksonville.
St Johns Town Center has almost everything: clothing stores, such as Louis Vuitton, bebe, Lacoste, Coach, and Express; restaurants, such as J. Alexander’s, The Cheesecake Factory, and PF Chang’s; nightclubs, such as Whiskey River; Dick’s Sporting Goods, Target, Costco, and so much more.
It is equidistant from the wealthiest areas of Jacksonville, which a tremendous draw for retailers. The town center is fairly new to Jacksonville (its creation started only a few years ago), and locals can’t believe how successful it has become.
“Growing up in Jacksonville and knowing the JTB used to be essentially sand dunes and the Town Center was a dairy farm – looking at it now it’s the retail epicenter of Jacksonville,” said Patrick McKinley, leasing agent with Regency Centers Corp.
Trader Joe’s, Lush Fresh Handmade Cosmetics, Recreational Equipment Inc., and Nordstrom Inc. have all landed deals at St Johns Town Center. If you are interested in starting a retail business in Jacksonville, contact Boyer Law Firm’s Business Law Attorneys today.
Source: Jacksonville Business Journal
Florida house flipping is a profitable business. Large companies such as Taylor Morrison, Neal Communities, Lennar, and Pulte group are capitalizing on the declining inventory of homes for sale, increased demand from buyers, low interest rates, the improving economy, and greater consumer confidence.
Florida currently is responsible for 13 percent of house flipping nationwide, second only to California, according to a study published by RealtyTrac. The average gross profit for Florida house-flipping in Daytona was 82 percent! Jacksonville ranked sixth with an average of 16 percent, and Orlando ranked 15th with an average of 10 percent.
Florida house flipping is not just for giant companies. Individuals can make a profit from house flipping, or they can turn their “hobby” into a small- to – medium sized business, which may then grow into a larger company. For foreign investors, this could be a path towards a visa or permanent residence.
If you are simply looking for a closing agent, or if you are interested in starting a Florida house-flipping company, Boyer Law Firm’s experience business law and real estate law attorneys can help, so contact us today.
Miami’s gold industry is booming! More gold arrived in Miami than any other US customs district last year, and it was the third for outbound shipments of gold. Gold was both the top import and export in Miami last year, for the first time.
In 2009, Miami’s total gold imports totaled $2.14 billion. Last year, that number skyrocketed to $7.25 billion, not counting scrap gold and gold plated jewelry, which brings the total to $8.8 billion.
The gold comes from mines in Columbia, Mexico, Bolivia and Peru, goes through Miami and then goes on to Switzerland, the United Arab Emirates and the Dominican Republic. South Florida is home to one of the largest precious metal refineries and it is also a hub for bullion trading, assaying, refining, logistics, and financing operations regarding gold and other precious metals.
Most companies in Miami’s gold industry are small or family businesses because it is important to keep a low profile when dealing in this industry due to the tremendous value of gold and other precious metals. If you are interested in joining Miami’s gold industry, contact Boyer Law Firm today.
Source: Miami Herald
Attorney Francis Boyer was quoted as an expert in a story on First Coast News about a man who was wrongfully evicted from his home.
“First For You, real estate attorney, Francis Boyer, said these are your rights:
1) Renters can stay in the property until a notice to vacate runs out.
2) Property owners do not have the right to take the renter’s property. It must be stored and notice given. If that is not done – consider hiring legal help.
3) The Protecting Tenants at Foreclosure Act says in part, if your landlord is foreclosed upon, and does not inform you and you are a bona fide tenant (meaning you are not related) you have a right to 90 days notice to move.”
A Florida revocable living trust is a trust created and operated during the grantor’s (person creating the trust) lifetime. By naming yourself as both the grantor and trustee, you can keep full control over all of the property and assets held in the trust during your lifetime. Most people who create living trusts choose this option.
What can I put in the trust?
Any property that is of value to you, including real estate, expensive jewelry, stocks and bonds, small business interests (such as company shares), intellectual property rights, and anything else that is of value.
Do I need a revocable living trust?
Only if you have assets of value that you want to protect. The greater the value of your assets, the greater your need for a living trust.
So what is the benefit?
The biggest advantage of a living trust is to minimize the likelihood that your beneficiaries will have to go through the painful probate process. Once the grantor dies, the trust becomes irrevocable and all of the assets in the trust go to the named beneficiaries.
If you are considering a Florida revocable living trust or have questions about other estate planning tools, contact Boyer Law Firm today. We can help with everything from drafting simple wills, to trusts, to assisting you through the probate process, if need be.
Jacksonville’s commercial real estate market has already more than tripled the sales from last year. So far, there has been $184 million in sales since the beginning of the year, compared to $61 million for all of 2012, according to CBRE Group Inc.
There have been two notably large sales so far this year:
- $130 million for the sale of Deerwood North and Deerwood South office parks
- $27.8 million for the sale of Freedom Commerce Center
CBRE Group Inc. has sold 90 percent of the office properties to date, and they are currently marketing for the sale of the Aetna Building in Downtown Jacksonville.
Leasing numbers for Jacksonville’s commercial real estate are also promising. The overall vacancy rate was 21 percent compared to 23 percent in 2012. Industrial real estate and retail real estate also continue to grow, with a vacancy rate of 11 percent, down from 14 percent last year.
If you are interested in investing in commercial real estate, Boyer Law Firm’s contract and real estate attorneys can help you with the entire process from drafting the initial contract through the closing, so contact us today.
Source: Jacksonville Business Journal
Florida led the United States in restaurant growth in 2012, according to a National Restaurant associate analysis. A net 1,751 places to eat and drink were added in 2012, beating California who added 1,721 restaurants.
Texas was the only other state that registered over 1,000 restaurants.
Here at Boyer Law Firm, we have assisted many clients in opening restaurants with atmospheres from casual to formal. If you have always dreamed about opening your own restaurant in Florida, Boyer Law Firm’s business law attorneys can help from the incorporation of your business to business planning, to offering references to other professionals needed to run your business.
If you are interested in coming to the United States on an E2 investors visa, a restaurant is a good type of business to start. Whether you are a US resident or foreign investor interested in opening your own restaurant in Florida, contact Boyer Law Firm’s experienced business attorneys today.
Source: South Florida Business Journal
Working from home has become more and more common, and people who operate businesses from their home can deduct certain expenses, such as insurance, repairs, utilities, and depreciation. However, if you plan to deduct these expenses, you need to be careful. The IRS has set rigid requirements to prevent the abuse of home office deductions.
Here are some of the requirements to be able to qualify for home office deductions:
- Your home must be used in connection with a trade or business
- You must be an employee –or- use the office space regularly and exclusively
If you are an employee:
- You must work at home for the convenience of your employers
- You must NOT rent part of your home used for business to your employer
- You must use the office regularly and exclusively
Additionally, you must meet one of the following:
- The home is your principle place of business
- You meet patients, clients, or customers in your home
- The business part of your home is a separate structure
If you have questions about home office deductions or are interested in starting a business from home, contact Boyer Law Firm’s business law attorneys today.
Florida is 30 percent more “entrepreneurial” than the US as a whole, and Floridians are less afraid of risk and more likely to take their businesses global, according to the 2012 Global Entrepreneurship Monitor US Report. Florida’s total entrepreneurial rate is 17 percent, while the national average is 13 percent.
The report also found the following:
- Nearly 19 percent of Florida entrepreneurs reported that more than a quarter of their customers were based overseas, compared to the national average of 12.4 percent.
- Many Florida entrepreneurs say they own their own business due to necessity rather than solely for opportunity.
- Florida males were more than twice as likely to engage in entrepreneurial activities as females, and the greatest activity for both genders is in the age from of 35-54.
The national entrepreneurial activity rate was at an all-time high in 2012. The report suggested that changes in taxes and specific programs aimed at encouraging youth and women to open their own business would greatly benefit Florida.
Source: Miami Herald
Florida is ranked as the No. 3 state for beer shipments in the US, according to new data from the Beer Institute. Florida’s beer distributors, who are required to meet Federal and Florida alcohol licensing requirements, have an annual economic impact of about $3.2 billion, ranking No. 4 in that category.
Beer consumption in the US rose 1.5 percent in 2012, with North Dakota as the highest.
If you are interested in starting a business that involves beer or other alcohol, there are very specific Florida alcohol licensing requirements and Federal alcohol licensing requirements.
Here at Boyer Law firm, we can help you not only with the Federal and Florida alcohol licensing requirements for this type of business, but we can also help you setup the business. Our business attorneys are also available for business planning sessions and preventative business law meetings to help you run and maintain a profitable business.
Owning an apartment complex in Florida or a commercial building in Florida that rents spaces to businesses can be a great investment, especially for foreign investors who want to live in Florida. For example, Ytech International recently started $6 million renovation on Crystal Lakes Apartments in Miami Gardens, and they expect the renovation to be complete within 60 days.
“There is tremendous demand in the north part of Miami-Dade County, and south Broward County, for affordable rental housing,” said Yamal Yidios Char, president and CEO of Ytech International.
Although, in some cases, it is more affordable to buy a house than to rent, there will always be a market for renting both residential and commercial spaces. If you are interested in owning an apartment complex in Florida or purchasing a similar investment, contact Boyer Law Firm’s real estate and business attorneys today.
Source: South Florida Business Journal
In support of the Florida Real Estate Industry, Governor Rick Scott, Florida Realtor’s President Dean Asher, and Vice President of Public Policy John Sebree traveled to Paris on a trade mission that took place June 16-21 at the 50th annual International Paris Air Show.
The trio traveled to Paris to encourage French nationals to invest in business and encourage international real estate buyers in the US. Representatives from about 80 Florida-based aviation, aerospace and defense companies, educational institutes, and economic development agencies also participated in the event.
During the event, Ashe and Sebree met with members of the French national real estate federation (FNAIM) to discuss expanding ties between the two associations.
“Florida Realtors’ leadership and members always do an exceptional job promoting Florida, both home and abroad,” said Gov. Scott. “…the state Realtor association has continued to encourage job growth and business development in the Sunshine State. Florida’s housing market and economy are on the rise, and it is clear that the policies we are implementing to create opportunities for Florida families are working.”
According to Florida Realtors’ 2012 Profile of International Home Buyers in Florida, French nationals made up five percent of the international real estate buyers purchasing homes in the Miami- Miami Beach area and the Orlando-Kissimmee area. French nationals made up 10 percent of international home buyers in the Palm Beach area.
Source: The Destin Log
Negligence in Florida is a failure to use reasonable care, with harm to another party occurring as a result. For example, if John pulls the trigger on what he thinks is an unloaded gun and inadvertently shoots Jane, than John has negligently harmed Jane.
Negligence law was formed under the belief that members of society should act in ways that avoid the creation of unreasonable risk of harm to others.
In order for a negligence claim to exist, the following must apply:
- The defendant owed a “duty of care” to the plaintiff.
- The defendant breached that duty
- The plaintiff suffered injury or loss.
- That breach was the direct cause of that injury or loss.
If you have been negligently harmed by a person or entity, or you are being sued for negligence in Florida, contact Boyer Law Firm’s civil litigation attorneys today.
Owning a Florida small business is drastically different than it was 25 years ago when Rhonda Abrams started her first company. Here are the differences that she has noticed betweeen Florida small business then and now:
- Start-up costs are less expensive: Desktop publishing alone has decreased the need for small businesses to go to graphic designers to print simple things like stationary and letterheads. Although graphic designers can still be useful to small businesses, you can save a lot of money by learning to do part of the work yourself.
- Everyone wants to be an entrepreneur: Twenty-five years ago, the goal of most business graduates was to work for a large corporation. Today, business graduates are striving to open their own businesses.
- Start-up financing is easier to find: Angel Investors did not exist twenty-five years ago, and small business loans were only for larger, established businesses.
- Small business diversity is respected more: Small business now encompasses every market you can imagine. Twenty-five years ago, a small business usually meant a dry cleaner or corner store.
- Large corporations want small business customers: Today, corporations have entire divisions just to reach and serve small companies.
- The internet: What a wonderful tool for small businesses! The internet allows small businesses to easily market their company, have the most up-to-date technology, and work from anywhere.
- Speed: Everything is now instantaneous.
- Global competition: The business world, including small businesses, has become globalized.
Whether you are a foreign national or U.S. resident, Boyer Law Firm can help you incorporate your Florida small business, help with business planning, and much more. Contact us today to see how we can help you.
Source: Florida Today
Exporting goods is on the rise for Florida small businesses. According to an online survey of 500 businesses conducted by the National Small Business Association, 64 percent of those businesses had sold merchandise or services to a customer in another country in 2012, compared to 52 percent in 2010.
“The growth we’re seeing in small business exporters underscores a broad change in attitude about exporting,” said David Ickert, the chair of NSBA. “Not only are small businesses seeing growing opportunities available to them via exporting, they increasingly view their good and/or services as valuable in a global marketplace.”
For those small businesses that are not currently exporting goods, the main barrier was a lack of knowledge as to how to get started.
As an international business lawyer, Attorney Boyer is very knowledgeable in all aspects of business, including exporting goods. If you are a small business that is considering importing or exporting, contact us today to schedule a business planning session to discuss how you can grow your business on a domestic and international level.
Source: South Florida Business Journal