Just starting - Posted by April

Posted by camgere on October 02, 2008 at 07:37:51:

I assume you are talking about apartment buildings and not muffler shops. You can always ask specific questions about the following articles:
Investing happens in stages. Deal analysis and purchase (a few hours to a year). NOI and CAP rate are very important and allow you to compare different properties. You also need to consider one time costs. Property management (years and years). You claim to have some expertise at this, which is very good. Exit strategy (selling the property, months to years).
Sellers tend to be optimistic, cheerful and complete liars. They will confidentially tell you that the roof may need $500 of repair when it needs a $15,000 replacement in the next year or two. Burnt out owners may not be cheerful. Experienced sellers know everything and you know very little. They will wheel and deal, so don’t be bashful about asking for very favaorable terms including owner financing. You will never get more than you ask for. There is a specific commercial real estate section on this website.
Good Luck!

Just starting - Posted by April

Posted by April on October 01, 2008 at 19:58:29:

I am interested in buying commercial rental properties. I used to manage them and my old employer suggested that I buy a small one and manage it. At the time (when the money was free) I was not able to, or more like I was afraid to go forward with this.

Now, I really want to try , but I dont know where to start. I was trying to read some of the posts, but I dont really understand the lingo. I looked at a couple articles, and its alot for my first night at this.

Really I dont even know what I dont know. If anyone has any direction I would appreciate it.

Thank you for your consideration on this.