All Forum Posts by: Alex Tobias

I agree. You need a cap rate to determine the exit, but also for refinancing balloons. I'll look into that. Is there info on all segments of commercial? --Self storage, Mobile home parks for example

I mean where do you get information on an approximation of what market cap is to so you can start to see where a deal starts to make sense?

Not wanting to waste time on phone calls makes a lot of sense @Max Gradowitz. By an attached offer, did you mean giving the broker a ballpark number I'd pay in the email text or attaching a real offer form to the email?

I have noticed that it was hard getting ahold of selling agents regarding SFHs. The brokers I try to contact are apartment and mobile home park communities. I know some people use buying agent, but I don't see them as necessary or really a big value for them for those non-SFMs. I'm not aware of being qualified with commercial either.

Thanks for the info btw. You already helped my perspective.

I mean specifically in trying to get commercial selling agents to respond to my initial email (saying I'm interested in a property) or voicemail or message I leave with a secretary. I'm basically interested in buying their property but they don't call back. Any tricks to get their attention? Or maybe these properties are reserved for certain buyers even if they are on the market. 

@Michael Le

Sorry I meant having different purchasing agreements for different states.

What ways would a local transactional attorney make a difference? Also, do you have a method to find them?

It sounds like you use the LOI and then when the deal is agreed on you find a local attorney for tying it up. The only issue I'd have with that is waiting the day or two to find them and get it written up before closing the deal. A night of sleep can change minds lol

@Taylor Hazard

I’m open to buying in most states. I’m not sure which states typically use standard forms. I wasn't even aware of the standard form, but that makes sense. Thanks for the info! I’m mainly interested in commercial btw. I’ll look into that!

Thanks @Max Gradowitz for the advice. What you said makes sense. Do you know if standard CAR forms are used for commercial property too? If it matters, more specifically mobile home parks. 

@Phil Christian

@Phil Christian For Mobile home parks. So a commercial CAR form?

Did you have an attorney review purchase agreement and add helpful content to it? Currently I only have one from a course I took. It was a really good and comprehensive course, but I want to make sure my purchase agreement is adequate. 

Thanks everyone

Is there much of a reason to have different offers for each state?

What's an average commercial lender fee cost and what is included for the fee?

Where you pay the city to inspect units so you have the privilege of fixing them :p