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All Forum Posts by: Bruce Petersen

Bruce Petersen has started 7 posts and replied 243 times.

Post: Multifamily apartment in Austin, Dallas, San Antonio

Bruce PetersenPosted
  • Rental Property Investor
  • Austin, TX
  • Posts 254
  • Votes 265

@Amit Ronghe

Thursday could work, what time?

Post: Multifamily apartment in Austin, Dallas, San Antonio

Bruce PetersenPosted
  • Rental Property Investor
  • Austin, TX
  • Posts 254
  • Votes 265

@Amit Ronghe

What size are you looking to buy?

Post: Cap rate in laymen's terms

Bruce PetersenPosted
  • Rental Property Investor
  • Austin, TX
  • Posts 254
  • Votes 265

@Tab Teehee

Easiest to just ask a mortgage broker for their underwriting and how many loan dollars they think they can get for you.

No need to speculate just ask.

Post: Cost Segregation Study

Bruce PetersenPosted
  • Rental Property Investor
  • Austin, TX
  • Posts 254
  • Votes 265

@Raxit Patel

message me

Post: Cost Segregation Study

Bruce PetersenPosted
  • Rental Property Investor
  • Austin, TX
  • Posts 254
  • Votes 265

The guy I use charges $3000 for each property and has done as large as 300 units and a 24mm in purchase projects for me.

Post: How to avoid getting screwed?

Bruce PetersenPosted
  • Rental Property Investor
  • Austin, TX
  • Posts 254
  • Votes 265

Interesting that he closed his account after this?!?!  ;-)

Post: Acquisition fee percentage

Bruce PetersenPosted
  • Rental Property Investor
  • Austin, TX
  • Posts 254
  • Votes 265

@Charlotte Dunford

Are you offering a pref? I typically don't do an acquisition fee and for that I don't offer a pref. It's about cashflow for me and not the one time up front fee that will likely be taxed (depending on how you structure it) right away.

Post: How to avoid getting screwed?

Bruce PetersenPosted
  • Rental Property Investor
  • Austin, TX
  • Posts 254
  • Votes 265

@Armaan H.

As you have now heard form many people in this thread, you feel shady and misleading. This has the potential to blow up in your face and can tarnish your reputation.

If I were on the other side of this from you I would likely never deal with you again. 

For what it's worth, I have never re-traded a deal, ever. As an investor you don't have to renegotiate as you mentioned. If the deal works at his ask I just close, there may be future dealings with him or the broker in the future if you prove to be a good buyer. Quit thinking you HAVE to win in the deal by re-trading, I don't like dealing with people like you as I don't feel I can trust you.

You seem to dismiss everyone that brings this thought but many have said the same thing in some form, I think you should listen to the advice you are receiving.

Post: Is it necessary to set up separate bank accounts?

Bruce PetersenPosted
  • Rental Property Investor
  • Austin, TX
  • Posts 254
  • Votes 265

@Anthony Wick

By co-mingling you could lose the asset protection provided by the LLC.

Post: Attn: Commercial Property Managers/Owners

Bruce PetersenPosted
  • Rental Property Investor
  • Austin, TX
  • Posts 254
  • Votes 265

@Clay Monroe

If there are multiple projects to be done at once owners will often hire a GC. These projects 

Sounds like you don't have much experience with this at least in the commercial RE space, be careful.