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Research & Development (R&D) property actually originated in California's Silicon Valley. When the Silicon Valley boom was going strong, they couldn't get space fast enough to build all the office buildings they needed. They had difficulty getting permits, buying land, and constructing buildings. Remember, office building construction is far more time consuming and costly than building warehouses-because of the interior finish work entailed, it's harder to do and takes much longer.

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What they did in Silicon Valley was to build very nice warehouses with dry wall and movable partitions on the inside, and call it R&D/Flex space.

This new construction alternative made it easier and faster to build a warehouse with a small office space rather than a formal office building. Most of these structures are one-story buildings with high ceilings, rear loading docks, and ample parking. If you are in flex space, you can combine office, light manufacturing, or even a warehouse into one space. Having no shared costs for hallways, bathrooms or a lobby means that you can get more space for your money, and rent exactly what you need. Companies are putting their staff into warehouses that are built as nice as any office.

R&D or flex space is becoming more popular today, given the shortage of office space. If you wanted to rent 3,000 square feet instead of 33,000 square feet, they might even be willing to do that. All they have to do is build a wall and add the ceiling. One of the issues you run into when you start building walls is fire ratings. You need to make sure that if you are working with flex space, you know the specific building codes and the applicable fire codes.

Flex Space Story (The following story is related by one of our real estate investment instructors)

I tear down walls, once a wall is built. However, tearing down a wall is a lot more expensive than building that first wall. The ceilings are all in now, but when you first built the walls, there may have been no ceilings.

Perhaps all the duct work and everything else in that section were still exposed. When you built this wall as a firewall, it was very easy to build it right up to ceiling. Now, you have other ceilings installed, so when you take down that wall, the first thing you must do is fix the ceiling. The second thing is-there's a place where there is no carpet along the floor. So, to rebuild the wall, you have to go through the ceiling, which is much more costly. So, all of a sudden, it's probably not flex space any more. Usually, it's flex space only one time. After that, the space takes on a more permanent quality.

Hope you enjoyed this article about R&D/Flex Space origins. Stay tuned for more interesting facts about commercial properties in upcoming articles.

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A lot of home sellers and real estate agents are confused about why a specialist is needed for the sale of a property in probate.

A general real estate agent lacks the expertise needed for probate-specific forms. They are also not aware of each step involved in the probate process. This means the probability of committing an error increases, which can put everyone involved in the transaction in a legally vulnerable spot. If an error occurs in the probate court documents, the probate may not be closed by the judge and the hearing may will be rescheduled. It can take weeks, or even months, to reschedule a new hearing for corrections which can be financially detrimental for the estate. To avoid such scenarios, the best solution is the hire a Certified Probate Real Estate Advisor (CPREA).

More often than not, the sellers consult their attorney to go through the probate sale documentation. When the attorney spends hours doing the job of an agent their hourly fee comes into play, which can be very costly. To avoid paying these pricey fees to the attorney, the probate estate representative could simply hire a CPREA.

Unlike regular transactions, there is a timeline for sales that a seller must adhere to. This timeline becomes more crucial if the sale needs court confirmation. In such cases, the probate property is sold via proceeding referred to as overbidding process. A probate agent helps the client in listing and accepting an offer before the court confirmation hearing. Someone without a specialization isn't aware of the intricacies of such procedures. Not adhering to the timelines and procedures can prove costly to the sellers. This is why they choose an expert who knows ins and outs of the probate real estate process, a CPREA is well versed in the ins and outs of probate sales.

It is, generally, difficult for the sellers to trust any random agent for procedure. They ask their attorney for the recommendation, as they have worked with several agents on different cases in the past. This is why it is so crucial to have lasting relationships with attorneys. If you know how to strengthen your professional relationship with attorneys, you can be sure that they recommend your name to their clients. The training provided by ProbateBiz will teach you how to create lasting relationships with probate attorneys, and will teach you how to become a CPREA.

In the specialization that Probate Biz offers, there is a khu đô thị mỹ gia nha trang separate section called Attorney Action Plan. There are scripts, emails, and letters to help you establish yourself as the expert in real estate to the probate attorneys. You also get the correspondence to be used for informing the attorney about how the probate process is progressing.