All Forum Posts by: Cameron Dirck

Hi,

Does anyone recommend a agent/broker in the Naperville/Plainfield/Shorewood area for IL? A agent that also is an investor and can understand the deal from an investors point of view?

Thank you all for your time!

@AdeelMakada I have found multiple deals that the numbers work out perfectly but I'm having a hard time finding a partner that wants to invest.

@Joel Owens I understand what you’re saying. The owner was willing to do a seller financing and it’s all negotiable. I don’t have to do 10% down, it’s all negotiable but I understand. And about raising capital, I was thinking I would borrow the down payment then pay that back once I refi out and get the seller out of the deal.

@Steve Morris wow thank you so much for that insight. I wish you were with me negotiating on this deal! Thank you I appreciate all of that!

@Steven Ko you’re very right and I appreciate your response. This just came out of the blue so I thought I would jump on it and try and figure it out. And yes I have read that book and loved it! Will get there very very soon!

@Jai Reddy cap is 5.9% and I just graduated college so I still live at home. I’ve been asking around but I have been unsuccessful. I am learning to raise money now so this problem doesn’t happen in the future. And to answer your cash flow question, yes it cash flows ~120k per year.

@Frank Chin yes that’s exactly what he is offering, and I didn’t understand why. I got the feeling that the situation was bad for me and I was getting myself into something that I didn’t understand at all.

And okay okay that makes sense. So, he is the one benefiting from this the most.

Thank you so much for your insight!

@Frank Chin I was thinking a master lease because the he would take less of a down payment (I do not know why). This is why I am confused.

And yes you’re completely right about the taxes I don’t know why I said that.

Hey BP Nation, I have a deal that I would love some advice on.

So I found a NNN property that is very stable and the tenant has 12 more years remaining on the initial base term before they can exercise their 1st termination right. What I like about this deal is that it is very safe (in my opinion) and I found out the seller is willing to do seller financing. So I am thinking if I can own and operate a ~$6M piece of property with virtually a small down payment then I win. In 10 years I will refi and get the current owner out of the deal. The problem is that he wants a huge down payment. This is my 1st deal so I understand my name is nothing and I have no reputation in the space. All I have is hustle and a creative mind to put deals together (but no idea where to get the capital).

So this is where I was wondering if someone with more experience can lend some advice: So my next move is to ask if he wants to do a Master Lease (the lender is okay with it) because I am sure he doesn't want to pay those taxes right now and I can just take over the property. What do you guys think about that move? Am I missing something? I appreciate any advice given! 

Thank you all for your time!

Cam

@Account Closed okay that is good to know! Thank you!