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Commercial Real Estate Pro Network

Commercial Real Estate Professionals who work with Investors, Buyers and Sellers of Commercial Real Estate. We discuss todays opportunities, problems & solutions in Commercial Real Estate.
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Now displaying: December, 2016
Dec 30, 2016
It happened, our First Deal!   We listened and learned.  We asked questions, listened some more, took notes and did the exercises.  Today, I am happy to report, we bought a 12 unit apartment building. The First Apartment Building In December 2016, we purchased our first 12 unit apartment building.  The property is an older, well maintained two story block building that is not in a flood zone!  The rents are well below market, and we have a strategy in place to increase the rents to market and reduce a couple of expenses to improve the cash flow.   Goldilocks and the four properties This was the fourth property we had under contract, so if you are hunting for a property, don’t give up too soon! The first property we had under contract, the seller sold out from under the listing broker. The second property under contract, our broker walked through, and told us it was a piece of junk, thank you. The third property was a four unit vacation rental with less than two years of rental history.  The deal breaker was financing.  It qualified for residential financing, but got complicated.  A commercial lender offered a quarterly adjustable rate loan, which was no good.  The fourth property was just right.  The Seller had a prior sale fail due to financing.  So, before we made our offer, we engaged a lender and included a commitment letter with our offer.  It helped. If you are looking for your first deal, I’m here to cheer you on.   For more information go to: http://commercialrealestatepronetwork.com darrin@jdarringross.com
Dec 23, 2016
The starting point is different for each new real estate investor.  Some go blindly into the night while others have to be sure.  No matter where one begins, or which option they choose, the first deal is bound to be memorable.   Commercial Real Estate investing takes capital.  Investors with little to no capital who are wanting a more predictable path often start in single family flipping, residential single family or small multi plex rentals.     Jeff Wallenius of North Peak Investments, is a third generation firefighter and real estate investor.  Jeff started investing in real estate by flipping single family houses on his days off from the fire department.   While comparing notes with his fellow firefighters about investments strategies and rates of return, Jeff recognized there was an opportunity to help his fellow firefighters do better with their investments through real estate.    First he spent time educating the firefighters about real estate investing, ROI, cash on cash, etc.  Soon, the group put some money together and invested as a group in different projects.  The positive experience of working with the firefighters led Jeff to start North Peak Investments with a couple of options. To learn more, call or go to: North Peak Investments (855)290-2444 http://www.northpeakinvest.com  
Dec 16, 2016
Real estate investing requires lots of capital.  For the ambitious investor with the know how to find deals, raising capital can still be a challenge.  If you don’t have capital, where can you get it?  Family, and friends can only get you so far.  If you have the ability to do a lot of deals, and the only thing holding you back is capital, you might be a candidate for running a real estate investment fund. Matt Burk, CEO of Fairway America, LLC and SBREfunds.com, works with all types of real estate investors to raise capital and manage funds.  Real estate investors are experts in finding and recognizing opportunities where others don’t.  These same people regularly lack the capital to make the deals happen. On the flip side, there are people with cash looking for a return greater than what the banks will provide.  These people can be an excellent source for capital for the real estate investor. To learn more, go to: http://www.fairwayamerica.com/ https://sbrefunds.com/  
Dec 9, 2016
Bigger Pockets podcast co host, Brandon Turner was ready to become an attorney instead of a real estate investor. While studying for the LSAT, Brandon Turner needed a place to live.  When a realtor suggested he buy a house instead of renting, because it was cheaper.  He bought his first house and became a landlord.  A few years later, when he sold the house for nearly double what he paid, he announced to his parents that he was going in to real estate and not law school. Then he bought another property.  When he did not know how to do something, he searched the internet for answers.  One website he found  had real estate investors that shared their experience and tips.  The site was called Bigger Pockets.  The answers he found led to completed projects and articles written by Brandon that he posted on Bigger Pockets.   In 2013, Bigger Pockets launched its podcast and Brandon was chosen as the co host with Josh Dorkin.   For more go to: https://www.biggerpockets.com Podcast: https://www.biggerpockets.com/renewsblog/category/podcast/ Email: brandon@Biggerpockets.com Twitter: @BrandonAtBP  
Dec 2, 2016
A conforming real estate deal has a conforming property, and a conforming buyer.  A real estate deal with a hurdle or two, is non conforming.  These non conforming deals need creative financing to get the deal done. Adam Cohen, founder of Westone International, always sees the opportunity where others do not.  He thinks outside of the box.  It's what he’s best at.  When it comes to non conforming deals, creative financing is the answer. What is a non conforming deal that needs creative financing?    Properties that have been on the market for too long or have high vacancies, deferred maintenance or management that doesn’t care.  Sellers that are tired of owning and want out, or a lender that is ready to let go to cut their losses are all examples of what properties that need creative financing look like.   How does Creative Financing work? Hard money rewards those that can get the needed work done fast.  It will crush those who can't figure out how to get the work done.  Hard money lenders charge more than banks, and mostly limit the length of the loan to less than twenty-four months.  The additional cost must be considered when creating budgets and profit projections.   Best Advice to be successful: Do a proper analysis Know your marginsItemize all your costsMap out your transactionHave working capital so you can buy rightReserve properly for the what if'sLine up your contractors a head of your purchaseGet your calendar set For more information: www.westoneinternational.com www.adamcohentoday.com
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