All Forum Posts by: Bobby Nilsen

@David Monroe Thank you, much appreciated. 

@Rick Louallen That’s a good idea, thanks. Do you know if there is somewhere you can get a list by city, county or state for these agents, or maybe you know if that’s available through the subscription for CoStar.

Happy New Years. Hope you all have a safe and awesome evening. I was curious ion anyone knows where to get a list of commercial agents. I have a list for my area of single family agents and have had great success with cold calling them for deals. I am now trying to do the same with commercial agents but have not been able to find a list with their info. If anyone knows how to get this info please let me know. Thanks and have a safe New Years. 

@Jeff Stansberry

That’s a no good situation to be in. Ultimately, only you can make that decision. This may sound corny but I would make a list of pros and cons of keeping vs selling it. What can you do with the money if you sell? Have you spoken to a CPA about what the final numbers would be? Biggest question you can’t put a price on, what would selling alleviate stress wise? 

@Ali Boone @Justin R.

This property cash flowed for us after stabilizing it, never mentioned it cash flowing after being sold for $2m. We purchased it for $1.2m and with those crazy rents it’s tough to see how it couldn’t cash flow. Ali asked about a property that cash flows in CA and I said it would have if we kept it, I actually think it cash flowed on hard money. 

@Ali Boone Ali check this one out 738 S 10th st, San Jose, CA. This was a flip for us but it cash flowed once we stabilized it and it would have been a great keeper if we didnt need the cash. We used the money from that one to buy another fourplex in San Jose that was cash flowing on hard money. We refinanced and pulled some money out. Cash flowing properties are possible even in the craziest markets. I would have to agree No on 10. Who knows what would happen if it passes. I’m in the bay are and some cities here are pretty much doing what they want already. Mountain View enacted rent control and then made it retro active. Landlords were having to set rent to a past years avg and had to refund tenants. Ali

@Stephanie Pieri When we started my partner and I spun our tires for about a year. Then he brought us our first deal from another investor he’d been helping and the other investor just didn’t have the time for this low price point. So he gave it to us and we cleaned it up didn’t do any rehab and made a quick $40k. That was his first deal for us and then right after that I got my first deal for us right off the mls. We acted quick, tied it up within the first 30 min it was listed. You can see that deal here. https://www.biggerpockets.com/forums/223/topics/457984-first-multi-family-flip

@Kamilla Ilishayeva Finding 100% financing with no gap funding will be tough. And if you do find it you’ll pay through the nose so you’d be better off getting a ltv of 80%. If you find the right deal getting the hard money or partner won’t be tough. Private money may be your best bet but having a track record helps significantly.

@Alex Gallardo Browse the mls (by mls I mean Redfin), throughout the day to keep up with what’s on the market and pricing. When a deal pops up act quick. We made over $500k on a newly listed property and got it because we were lightning fast. Know your market so you can act quickly. Talk to agents to get your pitch down. Cold call a lot. Should have a deal in a few months at most that makes sense if you do this with the right approach, if you don’t you need to change what your doing because your doing it wrong. We hired someone to find us deals he listened to what we told him to do and he’s found us a deal a month. He had zero real estate experience when he started.

@Alejandro Lee There are a few things you should look at. If you still need help PM me and I will gladly help answer any questions you still have. What is it you are specifically looking for in your question? Ie. should a lawyer or agent look it over, should I pay a flat fee agent to do It for me, what contract should I use, what contracts and disclosures are required, etc.