All Forum Posts by: Adam G.

I'm seeking references for a few great rehab contractors in the Tampa Bay region. Any suggestions?! Thank you!!

I'm looking for a solid Commercial RE Attorney in the Tampa Florida area. We really want to form a relationship with someone who is well experienced in commercial transactions, complex leases etc. Does anyone have any recommendations by chance?

@Patrick Liska

I assumed I would get lots of viewpoints which is what I wanted!! Lol

Your thoughts on my age vs retirement is exactly what has me leaning on cashing out. This is one of a good number of CRE assets in my portfolio but a number of them are paying off in the next few years. When I first got in the space I did 10/10 mortgages as I didn't need much cash flow. I've since learned not to do that and started using 15 and 20 year amortizations.

@Sam B. This is good advice, I never thought about sitting on them with no mortgage until the market corrected!!

The immediate downside, I can think of, is that this will effect LTV then. Right now I'm sitting pretty as values are WAY over what I paid when the economy was down.

@Joe Villeneuve cash flow on the refinance would be fine. I wouldn’t take more out on the property than what I paid for it around 2010. It’s worth way more than that now and has a long term lease.

I've been fortunate enough to build a good sized commercial real estate portfolio that I started building when I was in my late 20's. I started out looking to put some money back for retirement and I hate the stock market gamble, so I purchased real estate. I was blessed that it turned into a very successful business. Now that I've just turned 40 and my first commercial mortgage paid off this month and I'm trying to figure out what to do. 

Several very wise and extremely successful commercial investors I know keep telling me to refinance, pull out capitol and invest that into new deals. I'm leaning toward this option but it feels so wrong to re-leverage a paid off property. LOL I'm wondering what other commercial investors do?  Do you pay off and hold or do you re-leverage and buy more? 

@Brock Mitchem the type of space is industrial / warehouse space I assume? If so, there is a good sized range space like that brings in Columbus and the surrounding suburbs. How large is the space, ie the larger the space the less you bring per sq foot in a lease. 

I'm looking for agent recommendations for someone in the Miami Area that has experience in the beach condo market. Is there anyone here that has a recommendation by chance?  

@Mark Welp try The Savings Bank in Circleville. I've done many commercial deals and they are by far my favorite bank I've ever worked with. Ask for Lonnie, he's the VP of lending and pitch your deal to him.