Posted by Steven Rubio on May 06, 2010 at 17:32:01:
Thanks for the input, Dave, very helpful.
My immediate goals are to find great deals, analyze
(due diligence), then assign them. Eventually, buy and
hold for the value play.
Commercial Real Estate Beginner - Posted by Steven Rubio
Posted by Steven Rubio on May 06, 2010 at 16:22:16:
Hello,
I have found an investor who is retiring and is looking to
unload his multi-family properties. Where do I start???
Thank you.
yours respectfully,
Steven Rubio
Re: Commercial Real Estate Beginner - Posted by dave
Posted by dave on May 06, 2010 at 16:54:35:
I have noticed a few vague questions come onto the forum one about where to go with a 100k cash in commercial real estate and also where to start in multi family. 1st to answer that we should get an idea of your goals and objectives and time line to enter and exit the investment you plan to buy. Next what type of real estate do you want to buy land, office buildings, apt complexes ect they all are so different you should narrow down what you seek. Do you want cash flow or appreciation. The pro’s in here can better help if you give more details to your personal situation. just my thought to help you get a clear answer.
My advice is to get the list of properties and prices he wants and the numbers so you can begin your due diligence to see if there are any good deals in his portfolio he is selling. your looking for rent rolls and expenses like property taxes utilities management expenses. Maybe asking for last 2 years of taxes on portfolio. Then verify numbers for accuracy.
If after all of this you see a property or group of properties that can meet your return on investment. Then you come share numbers in here and can get a good solid opinion from others.