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All Forum Posts by: Brian Jones

Brian Jones has started 17 posts and replied 41 times.

Post: Commercial real Estate in Richmond VA

Brian JonesPosted
  • Investor
  • Richmond, VA
  • Posts 47
  • Votes 4

Hello all!! I'm back after a mini hiatus..wondering are there any multifamily/commercial investors in the Richmond VA area or close? If so please contact me.thank you in advance

Post: Starting a commercial development

Brian JonesPosted
  • Investor
  • Richmond, VA
  • Posts 47
  • Votes 4

Thank you @RylanTaniguchi @MarioPolicicchio this helps alot

Post: Starting a commercial development

Brian JonesPosted
  • Investor
  • Richmond, VA
  • Posts 47
  • Votes 4
Originally posted by @Mario P.:

Hi Brian, I'm not familiar with obtaining financing in Virginia, but I assume it would be relatively similar to my experience in Ontario, Canada.

The construction lender may lend up to 75% of completed property value and up to 85% of costs (conventional financing). In a basic sense, this value is derived from applying a cap rate to a stabilized NOI. The construction lender may require you to first obtain a commitment for take-out financing prior to receiving construction funds, which is usually up to 75% of value and 1.2 debt service coverage. Hope this helps.

Post: Starting a commercial development

Brian JonesPosted
  • Investor
  • Richmond, VA
  • Posts 47
  • Votes 4

Hello all I know im late to the party with this question but I  was wondering if there is anyone here familiar with the process of land aquisition with the intention of building a apartment complex after..it is already zoned for such endeavors I need to know the best way in going about securing funds & the steps thereafter thankyou in advance Btw im located in Va so that might help in knowing applicable state local laws regarding this

Post: Investor from Richmond Va building a lifetime lifestyle

Brian JonesPosted
  • Investor
  • Richmond, VA
  • Posts 47
  • Votes 4

Hello everyone not really a new member but been away long enough to be considered that now lol..anyway still here trying to put together my dream of being successful in this endeavor meeting new contacts..friends & hopefully business partners as im trying to build something bigger than just a business im focused on building a lifetime lifestyle that will last after im gone for generations to be able to do the same..that being said im looking for like minded individuals to bond and build with..give me a shout & I'll be sure to return the favor. .thanks in advance 

Post: Strategies for buying a commercial retail building

Brian JonesPosted
  • Investor
  • Richmond, VA
  • Posts 47
  • Votes 4

Hello all..I was wondering how do I go about getting a retail building what is the process & what should I be looking for as far as pricing..evaluation offer..etc..have no clue as a starting point & am solicitating all help..as I am trying to get a commercial space to run a buisness out of..I will have what the broker is offering later on today

Post: looking for Partner/partners

Brian JonesPosted
  • Investor
  • Richmond, VA
  • Posts 47
  • Votes 4

@Helen Kirk its in Huntsville

@Michael Meeks I have another opportunity I'll pm you the details in the morning 

@Marcus Quinn I have another opportunity in AL 

Post: possible 1st deal

Brian JonesPosted
  • Investor
  • Richmond, VA
  • Posts 47
  • Votes 4

@Sean Ploskina I would have to email you the entire financial page cause im sure I screwed up something while writing 

Post: possible 1st deal

Brian JonesPosted
  • Investor
  • Richmond, VA
  • Posts 47
  • Votes 4


@Sean Ploskina I am going to look over the property next week 90 % was newly renovated back in 2013 with new HVAC & roofing through out the entire complex

Post: possible 1st deal

Brian JonesPosted
  • Investor
  • Richmond, VA
  • Posts 47
  • Votes 4

ok Gentlemen @Rob Beland @Sean Ploskina @Jeremy Pace We have a assumable VHDA loan with a balance of 1.1 million asking 1.5 million sales price with locked interest of 5.22 % NOI of 177198 Total expenses 89262..you have a debt service of 115536..capital reserves of 7250..loan payment of 3k a month..95% vacancy 2014 year was income of 218657 total expenses 90738..