Blog

Streamlining CRE Purchase and Sale Process

CRE is a legal term for Commercial Real Estate. It includes office space, warehouses, and retail space. CRE purchase and sale processes can be frustrating and time-consuming, with numerous documents to sign by lawyers, brokers, buyers, and sellers.

Wouldn’t it be much easier if the various parties could speak directly to each other? The CRE process would be transparent and less expensive for all parties. Below are some of how Blockchain technology can help streamline the CRE process.

1. Reduce the Time to Closing With Smart Contracts

When you go to a restaurant, you order food and then wait for it to arrive. You are also charged at the end of the meal for your food, whether or not you receive what you ordered. Smart contracts are used because they reduce paperwork and errors by providing an automated payment system that eliminates human interaction with the process.

2. Eliminate Paperwork and Errors

When you buy a home with a mortgage, you must sign many documents, such as the mortgage and the deed, to make legal promises. The use of smart contracts can reduce this paperwork and eliminate errors by having all agreements digitally recorded on the blockchain. It would enable all parties to easily see what exact terms have been made, eliminating much of the human error and conflicts arising during closing documentation.

3. Reduce Costs

Smart contracts reduce the time and money that each party spends on the transaction. For example, closing costs are often high. This sum can be reduced by having all parties sign off on a UI (user interface) agreement at the close of escrow, reducing the amount of paperwork required to close correctly.

4. Reduce Risk

Typically, there is a relatively large amount of risk in residential real estate transactions because of uncertainty regarding property values and financing. Smart contracts reduce this uncertainty by automating all agreements and providing a transparent system that allows all parties to see the exact terms each party is entering into. It reduces the chance of human error, such as misspeaking or overlooking an important detail.

Conclusion

The use of smart contracts can significantly reduce the time, money, and risk necessary for a CRE transaction. It can improve the quality and speed with which closings take place while reducing risks and paperwork. With this in mind, it is clear why Blockchain technology will continue to significantly impact CRE throughout the year and in years to come.

This article was originally published on Jack Nourafshan’s website.

Promoting Corporate Philanthropy

The world is full of people, but it’s also full of needs. Corporations are an integral part of meeting these needs by providing jobs and developing communities, but they can also make a difference in the lives of individuals through corporate philanthropy. Below are ways of promoting corporate philanthropy.

Get Out in the Community

One way to promote corporate philanthropy is by getting out in the community and making a difference. Participating in activities such as volunteering for children’s summer camps, food banks, or disaster relief allows corporations to build relationships with local charities and become more active members of their communities. This can be done by simply donating money, but lending hands-on support also has an impact because people can see firsthand how generous companies are with time and funds. Getting involved helps meet the needs of the disadvantaged within the community. It allows corporations to interact more directly with customers, creating a closer relationship that could prove beneficial down the road.

Give more than money

Companies should not only be active in the community and give money but also time and resources. As mentioned above, donating resources such as food and clothes to local communities demonstrates a corporation’s generosity and commitment to their community.

By giving back to the community through more than financial means, companies can make an even bigger difference by helping less fortunate members of society, thus promoting corporate philanthropy.

Understand your audience

While it is always beneficial to give back to the community, companies should understand who they are giving to. This means understanding age groups and what certain organizations specialize in. For example, donating food to an organization that deals with children’s homes would be ideal because it provides for people who need it most (children) rather than simply donating food to a community center.

Level social media strategically

Providing services for those who need them the most is just as beneficial as simply donating to a cause, and society will usually see this and acknowledge it. Using social media to promote companies’ philanthropic efforts helps create a good reputation and can be used as an incentive for people to support their company. Companies should consider sharing before and after photos of people who have received donations, along with information on the charities they are supporting. This encourages other businesses to participate in corporate philanthropy and help generate an audience for these social media accounts.

Employee involvement

As helpful as it can be to have a company’s support, it does even more for people when employees get involved. Employees are the ones who work with organizations on a daily basis and are in the best position to endorse what they do. Employee volunteer days allow companies to share their efforts with other businesses while helping improve morale by getting employees involved in their communities. Showing employees that their company is doing good for others also allows corporations to develop a sense of pride within the company. Using social media to post about employee volunteer days or simply sharing stories on what they have done creates an environment where people are happy to work at the organization.

This article was originally published on Jack Nourafshan’s website.

Is Pivoting a Sound Business Strategy

Introduction

Pivoting means changing the fundamental nature of what you do to meet new challenges or take advantage of new opportunities. In other words, pivoting is a change in a company’s fundamental strategy.

Is Pivoting a Sound Business Strategy?

Pivoting is a sound business strategy; it depends on the situation. Business demands can change fast, and you may find yourself in a situation where your goal is no longer the best long-term solution. In that case, you need to look for opportunities that are more aligned with your core strengths.

How To Execute A Successful Business Pivot

1. Evaluate all your options

Truly successful pivots are seldom about doing something new. They’re about doing something better. If a pivot involves starting from scratch, make sure there is a strong reason.

2. Pick the best option that allows you to leverage your strengths

Pick the option that is likely to be most likely to multiply your resources and achieve your goals more effectively than you could have done otherwise.

3. Look for opportunities to profit from the change

For example, if an opportunity arises for you to earn higher margins by offering a lower-cost product or service, opportunities are everywhere, even if they are not immediately apparent.

To read the rest of this article visit Jack Nourafshan’s blog.

Why Transparency Is Important (to Donors)

For an organization to retain donors who donate their funds, a certain level of trust should be created. Most donors would not donate to an organization that misuses their funds, underwhelming their course. Here are some reasons why transparency is essential to donors.

Donors look forward to donating and getting involved with organizations with good rapport. However, trust should be fostered between the donor and organization; otherwise, they may not donate a second time. They need to confirm that the non-profit is authentic and forthcoming. For an organization to establish this trust, they must make sure they give them the correct information while also being transparent with their use of donations.

Most donors prefer causes they can connect to and relate to on a deeper level. They like when a cause can relate to their values. For example, most donors value strong ethics, honesty and financial responsibility. The organization should make sure it is built on these values to attract and keep its donors.

To read the rest of this article visit Jack Nourafshan’s blog.

How AI Has Changed Business

Artificial intelligence has been around for a long time, but it has only recently started to make an impact in the business world. AI has changed the way we do things and opened up new opportunities for businesses of all sizes. This article will discuss how AI has changed the way we do business and some of the benefits it offers. We will also look at some of the challenges of implementing AI in your industry.

1) Increased Efficiency

One of the most significant benefits of AI is that it can help increase efficiency in your business. AI can automate tasks and processes, which can save time and money. For example, chatbots can handle customer inquiries, which can free up employees’ time to focus on other tasks. Additionally, AI can be used to optimize processes, such as supply chain management, which can help to improve efficiency and reduce costs.

2) Improved Decision Making

AI can also help to improve decision-making in your business. With AI, you can access large amounts of data that can be used to make informed decisions. Additionally, AI can help automate the analysis of data, speeding up the decision-making process. This can be particularly useful for businesses looking to make quick decisions in a fast-paced environment.

3) Enhanced Customer Service

AI can also be used to enhance customer service in your business. With AI, businesses can provide a better customer experience by automating tasks such as responding to queries and providing support. Additionally, AI can personalize the customer experience by understanding their needs and preferences. This can help improve customer loyalty and encourage them to return to your business in the future.

4) New Opportunities

AI can also help businesses to explore new opportunities. With AI, businesses can analyze data to identify trends and patterns that may not be visible otherwise. Additionally, AI can be used to create new products and services that meet customers’ needs. This can help businesses stay competitive and maintain a leading position in their industry.

Although AI offers some benefits, there are also some challenges that businesses need to consider. One of the biggest challenges is ensuring that AI algorithms are bias-free. Additionally, businesses need to ensure that data is properly managed and protected to avoid privacy breaches. Another challenge is ensuring that AI applications can handle unexpected situations.

In conclusion, AI offers several benefits for businesses of all sizes. It can help increase efficiency, improve decision-making, and enhance customer service. Additionally, it can help enterprises to explore new opportunities and stay competitive in their industry. Although some challenges need to be considered, the benefits of AI far outweigh them. So if you’re looking to improve your business, AI is a technology that you should consider.

This article was originally posted on Jack Nourafshan’s blog.

How Nonprofits Can Improve Community Engagement

Almost every nonprofit is in it for the heart and soul of their community. They want to change people’s lives, provide necessities, and serve as positive role models. To be successful, nonprofits need help from the community they serve to achieve a common goal: moving forward with more support than ever before. Here are some ways that nonprofits can improve community engagement.

FOSTER RELATIONSHIPS TO ENCOURAGE DISCUSSION

To reach the highest levels of community engagement, nonprofits should look at how they can bring residents together. The best way to do this is to create face-to-face opportunities for residents. You can ask them about the services they are interested in, and you can also encourage them to talk about ways that they would like to see their community grow.

PARTICIPATE IN LOCAL EVENTS

One of the most effective ways to get involved with a community is to join in on local events. By participating in local fairs, festivals, and celebrations, a nonprofit can provide information about its services to community members. Your involvement in local events will make people interested in what you do for the community and might even get a couple of supporters along the way.

To read the rest of this article visit Jack Nourafshan’s blog.

How To Maintain Professional Partnerships in Business

Maintaining good business relationships is key to the success of any company. Strong partnerships with other businesses can lead to new opportunities, increased sales, and a better reputation in the community. However, it can be tricky for businesses to maintain these professional relationships while still protecting their interests.

Working for a Common Goal

When both parties are working towards the same goal, it allows for better communication and cooperation, which leads to a more successful partnership. A common goal is a critical element in maintaining a successful business partnership. It gives both parties a reason to work together and helps bring all the various elements of the business into alignment. When both partners have a common goal, it allows them to use their strengths and the benefits they offer the other party more effectively.

Keep Communication Open and Honest

It is important to keep communication open and honest to maintain these partnerships. It will help ensure that both parties are on the same page and that any misunderstandings can get cleared up quickly. Partners can build trust and avoid any damaging conflicts by keeping communication open and honest. Besides, setting up a schedule to discuss business updates and communicate will ensure that both parties get informed on the status of their project.

Respect Each Other’s Time

Maintaining professional partnerships in business takes a lot of time and effort. It’s essential to respect each other’s time to ensure that both parties get the most out of the relationship. It means being punctual for meetings, promptly returning emails and phone calls, and not wasting the other person’s time with pointless conversations or requests. By respecting each other’s time, both parties can ensure that they make the most of their working relationship.

Learn from Each other’s Mistakes

It is a common opinion that business partnerships are hard to maintain and even break up. The truth of the matter is that partners can learn from each other’s mistakes which will help them stay on track, as long as they work together. Mistakes happen when partners least expect it; however, if two people make that same mistake simultaneously, they can talk out their problems and possibly develop a solution.

Bottom Line

While it can be tough to maintain professional partnerships in business, there are some things partners can do that will help. First, make sure both parties understand the goals for the partnership each party has set out for themselves before entering into a relationship. It is also important to have open communication about what’s happening inside and outside of work to avoid misunderstandings. 

This article was originally published on Jack Nourafshan’s blog.

Philanthropy Trends 2022: What to Expect in the Future of Giving

Philanthropy is evolving. In the coming years, we can expect to see new trends in how people give back to their communities. According to Giving USA, several trends will shape philanthropy in 2022. We’re going to look at three of them here: giving circles, impact investing, and donor-advised funds. Keep reading to learn more!

Giving circles are groups of people who come together to make small, regular gifts to their charitable causes. These groups might consist of family members, friends, or co-workers. They meet regularly to learn more about potential charities in their community and decide which organizations they will support. This is a unique way for donors in the same social circles to come together for common causes. As this type of giving moves forward, you can expect to see more individuals choosing to support their favorite charities in smaller ways rather than writing one large check.

Impact investing is becoming increasingly popular, which means that these types of investments are expected to grow in the future. Impact investors seek out opportunities where their money can have a positive social or environmental impact alongside a financial return. This practice has been used in the past to help solve problems of poverty and inequality. Additionally, impact investors are beginning to use these investments in the private sector. While this method is not new, researchers have found that impact investing can help encourage more donors to invest their money. The idea of these types of investments can motivate regular people to prioritize social good.

Donor-advised funds have been growing rapidly since 2001. There are over 190,000 donor-advised funds in the United States, holding a cumulative total of $92 billion. Donor-advised funds are charitable accounts that allow donors to make contributions and recommend grants to nonprofit organizations over time. After making an initial contribution, the donor can wait to make additional donations until later in life (or even after their passing). The account remains open for an indefinite period, and the donor remains in control of their account.

Donors may also become more interested in researching charities they’re considering giving to. Organizations can use this research to understand better how they might be able to improve their current operations. Nonprofit organizations should make a point to review donor surveys and other forms of feedback to get a clear picture of what they do well, where there’s room for improvement, and how the organization can move forward.

This article was originally published on Jack Nourafshan’s blog.

An Interview With Jack Nourafshan

Question: What’s the most important thing we should know about you?
Jack Nourafshan: Most important thing: very focused, High integrity to Successfully accomplish objectives set. Very efficient, very organized. Does research well and works well with teamwork and can properly work with different complex other people’s personalities.

Question: Name the most impactful lesson you learned from failure.
Jack Nourafshan: There have not been many failures. However, when decisions were made with emotions above logic and sound due diligence, it is bound to result in questionable conclusions. 

Question: What accomplishment are you most proud of?
Jack Nourafshan: Balancing life between successful work objectives, accomplished children, and happy family relationships. Taking good care of the health of myself, my family, and my employees. Including exercises and satisfactory, warm relationship with friends and persons who I work and relate with. Prayers and thankfulness for what I have so far and achieved so far are of immense value to me.

Question: What did you waste the most time on when you were first starting your career?
Jack Nourafshan: The wasted time when started my career was to go in many directions and wanting to do more than I could successfully handle. Therefore I decided to focus on a few things that I am good at.

Question: Name a tool you use for work that you can’t live without.
Jack Nourafshan: Softwares that are focused and targeted to the industry. But not be so dependent on it that without it, can still progress forward, even at a slower speed.

Question: What is your favorite hobby and why?
Jack Nourafshan: My favorite hobby is reading on many subjects to learn, do sports and spend time with my family and friends.

Question: What excites you the most about your industry right now?
Jack Nourafshan: The most exciting thing about our industry is to make sure changes taking place are properly handled so the risk will be minimized and under control.

Question: What concerns you most about your industry right now?
Jack Nourafshan: My greatest concern about the industry is how much amazon and other online platforms will impact any further retail sales. We have been aware of it for over a decade and have strategized to have minimal impact.

Question: What’s the greatest risk you’ve ever taken?
Jack Nourafshan: The greatest risk taken was to purchase a large fully vacant property. However, we turned it successfully to fully occupied.

Question: Name one small habit that positively impacts your productivity.
Jack Nourafshan: When I have many items come to me at the same time and it feels overwhelming, I take a short walk, breath deep several times, eat a healthy snack, thank God for what I have accomplished so far. Then I take one issue, in order of importance, at a time and one by one resolve each thing until I’ve accomplished everything that needed to be done.

Question: What tips do you have for getting a seat at the table?
Jack Nourafshan: Depends on how important it is. Usually, I talk to people who are already in and see if their objectives are worth my efforts and my skills desired by the group. If yes to both, I will press forward strongly. If not will, I do not waste any time on it.

Question: What book has made the biggest impact on your life?
Jack Nourafshan: Bible

Question: Do you value intelligence or common sense more? Why?
Jack Nourafshan: I value intelligence more since it incorporates research and analysis. Common sense can be a moving target.

Question: What would you consider to be the perfect day?
Jack Nourafshan: A perfect day is when all objectives set for the day are accomplished and I go home with a smile, to be greeted with a hug and smile by my wife and children.

This interview was originally published on SurprisinglyFree.com.

Profile of Jack Nourafshan, President of Reliable Properties

Based in Los Angeles, California, Jack Nourafhshan is a seasoned commercial real estate professional. As president of Reliable Properties, a real estate acquisition, development, and management company, Jack brings over 40 years of experience to his organization.

Jack Nourafshan

Jack Nourafshan completed his engineering degree from the University of Minnesota before earning an undergraduate degree in mechanical engineering at California Polytechnic State University. After graduating from Cal Poly San Luis Obispo, Jack continued his education, going on to earn his Masters of Business Administration from the University of Southern California. It was there that Jack found his love for real estate. He began taking real estate courses and devoured all that he could about the real estate industry in Los Angeles. The knowledge he gained and the passion that he found while studying propelled him to create Reliable Properties, where he serves as President today.

Jack Nourafshan’s formal education helped shape his passion for entrepreneurship. There is nothing Jack enjoys more than sharing his expertise and experience with young, up-and-coming entrepreneurs. He understands the importance of building and maintaining strong relationships as well as an honorable reputation. Above all else, Jack places value on patience and helps those around him in any way that he can. 

At Reliable Properties, aside from specializing in new construction, Jack helps his team with the repositioning and renovating of old or damaged properties such as shopping centers, office buildings, retail stores, office buildings, and residential properties. Jack and his peers set themselves apart from their competitors by having a hands-on approach. Indeed, the company is highly involved with every aspect of the development process- from project inception and acquisition to administration, construction, marketing, and management of every project.

Since founding the company in 1975, Jack Nourafshan’s real estate firm has long been considered one of the most dedicated organizations in Los Angeles to revitalizing urban communities.

Outside of real estate, Jack Nourafshan supports a number of businesses and nonprofits throughout Los Angeles. These organizations include Cedar Sinai Hospital as well as the Mayo Clinic, which performs groundbreaking cancer research.

In 2019 Jack was asked to travel to Egypt, where he had the opportunity to meet their President while honoring the Israel and Egypt Peace Treaty. Jack attended as an American delegate and presented the golf metal to the country of Egypt. In his spare time, Jack loves to stay active and spend as much time as he can with his family, explore California, and travel. 

To see more from Jack Nourafshan, visit his LinkedIn and Twitter.

This article was originally published on SurprisinglyFree.com.