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Viking Enterprise LLC is part of eXp Commercial, an agent-led, cloud-based commercial real estate brokerage with agents across the globe.

Your Trusted Katy / Fulshear & Houston Commercial Real Estate Brokerage

Viking Enterprise LLC is part of eXp Commercial, an agent-led, cloud-based commercial real estate brokerage with agents across the globe.

Looking to invest, buy, sell or lease? We can help.

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Looking to invest, buy, sell or lease? We can help.

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eXp Commercial - Viking Enterprise Team's real estate network provides unparalleled commercial real estate services to Tenants and Landlords around the Katy- Houston area. Our knowledge, experience, and reputation sets us apart from many firms.

A commercial property owner might have various plans that would necessitate the services of a commercial real estate broker. Some of the common scenarios include:

1. Selling the Property: If the owner decides it’s time to sell the property, a commercial real estate broker can help determine the market value, market the property effectively, and negotiate with potential buyers to get the best possible price.

2. Leasing Space: For property owners looking to lease out part or all of their commercial space, a broker can help find suitable tenants, negotiate lease terms, and ensure the lease agreements meet all legal requirements and serve the owner’s best interests.

3. Acquiring More Properties: Owners looking to expand their portfolio would benefit from a broker's knowledge of the market, access to listings, and negotiation skills to secure additional properties at favorable terms.

4. Property Management: While not all brokers offer this service, some commercial real estate brokers or their affiliates offer property management services. This can be particularly appealing for owners who prefer a hands-off approach or are managing properties from a distance.

5. Market Analysis: Owners considering future developments, renovations, or rebranding of their property might engage a broker for a comprehensive market analysis. This helps in understanding current market trends, the demand for different types of spaces, and potential returns on investment for various strategies.

6. Refinancing: In situations where a property owner is looking to refinance their property, a commercial real estate broker can provide valuable insights into the property’s current market value, assist in gathering necessary documentation, and even help in finding the best financing options.

7. Partnership or Investment Opportunities: Owners interested in exploring partnerships, joint ventures, or seeking investors for expansion or development projects might use a broker to find and vet potential partners or investors.

8. Consulting on Zoning and Use Changes: When contemplating a change in the use of the property or dealing with zoning issues, a broker with experience in local regulations and the specific property type can provide guidance and strategic planning assistance.

9. Exit Strategy Planning: For owners looking to plan an exit strategy from their investment, whether it’s through a strategic sale or a gradual winding down of operations, brokers can provide market insights, timing advice, and valuation services to optimize the exit process.

In any of these scenarios, the expertise and services provided by a commercial real estate broker can save the property owner time and money, while also providing access to a wider network of potential buyers, tenants, and industry professionals. Give us a call today!

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🏚️ Houston Housing Authority Scandal: Audit & Contamination! ⚠️

📉 Houston CRE Crisis: Housing Authority in Trouble 🚨

Commercial Real Estate

October 18, 2024•3 min read

📉 Houston CRE Crisis: Housing Authority in Trouble 🚨

🏚️ Houston Housing Authority Scandal: Audit & Contamination! ⚠️

Well, things are getting real spicy over at the Houston Housing Authority (HHA) 🌶️. If you thought your paperwork problems were bad, wait until you hear this! The HHA is under some serious scrutiny following a messy audit and, wait for it... accusations of hiding toxic contamination on a property intended for low-income housing. Yep, you heard that right! 😬

The Audit: What’s Missing? 📝💨

First up, let's talk about the audit. Berman Hopkins CPAs & Associates took a deep dive into HHA’s operations, and let’s just say, it wasn’t pretty. They found "material weakness" and "material noncompliance" in the way the authority was managing major housing programs. That’s accounting speak for “y’all have some serious problems” 💸.

And it doesn’t stop there. The auditors couldn’t even verify the paperwork for one of the top applicants on the housing assistance waitlist! 🤦‍♂️ This issue has apparently been brewing since the pandemic, and the backlog isn’t expected to be sorted out until late 2024. Yes, they’re giving themselves that long to handle this. I guess we can take some comfort knowing that they're trying, right? Right...? 🕰️

Toxic Contamination: Nothing to See Here... 🌱☣️

Oh, but the drama doesn’t end with a messy audit! According to a report from FOX 26, the HHA and their development partner, NRP, are being accused of keeping some rather toxic secrets 🤫. In 2019, they apparently knew about “residual contamination” on a $130 million low-income housing project but didn’t feel like mentioning it when applying for state-backed bonds in 2021. Whoops!

Community leader Sergio Lira didn’t hold back, calling the whole thing a “boondoggle.” In other words, a complete mess that leaves low-income families in the dust while developers rake in profits 🤑. Oh, and did I mention that omitting contamination info might just be a crime? FOX 26’s legal analyst Chris Tritico thinks so. According to him, "material misrepresentations" were made to the state and the Department of Housing and Urban Development. Yikes! 😳

Houston Housing Authority’s Next Steps? 🤷‍♂️

With so much heat on the HHA, you might be wondering, what’s next? Well, Houston residents and advocacy groups aren’t staying quiet. Community navigator Taylor Laredo from Texas Housers said it best: "I do hope the HHA takes actionable steps to rectify this.” Hope, of course, is the keyword here. 🙏

In the meantime, HHA Vice President Michael D. Rogers says they have a plan to clear that paperwork mess by the third quarter of 2024. Let’s just hope they’re not putting the same energy into addressing the contamination. Because when it comes to housing, especially for low-income families, a toxic situation is the last thing anyone needs! 🌍🏚️

So, stay tuned, Houston! This housing saga is far from over, and with more questions than answers, all eyes are on the HHA to see what they’ll do next. Let’s just hope they can clean up their act—both figuratively and literally! 🧹🚧

I’m an experienced Commercial Real Estate Broker, please feel free to reach me at 281-222-0433.

#HoustonHousingAuthority #ToxicContamination #AuditIssues #HoustonCRE #LowIncomeHousing #EnvironmentalJustice #HousingCrisis #TaxpayerDollars #HousingScandal #FixTheSystem

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Bill Rapp, CRE Broker

I am a Houston commercial broker, with residential experience, as well as a lending background. I have been in the real estate industry for 14 years and counting, and I have worked in many roles within the industry and each has given me a unique perspective of the industry as a whole. My dedication to clients is rooted in this industry knowledge, but also includes my desire to go the extra mile in networking to source off market opportunities for my clients. Me and my team at eXp Commercial have a cutting-edge technology package that gets the widest exposure for each transaction. eXp Commercial offers a nationwide network through which we can deliver the best exposure and professional advice to achieve our clients’ goals while also minimizing their risk. Clients appreciate my methodical method of discovery in our initial consultation. Through which we can get to know each other and their specific’s business’s needs and objectives on a granular level. Our processes help navigate each transaction and its potential pitfalls through to a successful outcome for our clients. It is my stated goal to provide our clients with extensive market analysis and expertise that fosters innovative solutions and rewarding commercial real estate opportunities.

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eXp Commercial - Viking Enterprise team real estate network provides unparalleled commercial real estate services to Tenants and Landlords around the greater Katy & Houston MSA area. Our knowledge, experience, and reputation sets us apart from many firms.