All Forum Posts by: Chris Yeakel

Thanks for replies! 

-Chris

Hi all,

When purchasing a commercial multifamily, should one use cap rate to determine the “value of the purchase”, the potential value of the property, or both?

For example; if I have a property selling at a low 6% cap rate, should I have the mindset of “This is buying at a premium, I need to buy at a higher cap” or the mindset of “this is at a 6% cap and I think I can get it to 10%”?

Ultimately purchase value vs future value

Thanks for any clarity!

-Chris Yeakel

Hi guys,

Chris Yeakel here.

I’m looking for the right talk track.

I found a prime flip property down the road from my house, tucked back on 2.3 sub-dividable acres. The house and large detachable garage are in rough shape, the landscaping is grossly overgrown, and the lady is a an elderly horder, with potential financial problems, who is stuck in her ways.

My neighbor/realtor briefly talked to her and was turned away as far as her wanting to sell.

I’m wondering what is a good talk track/ psychological strategy, positioned to help this person out?

I’m sure she’d rather live somewhere easier to maintain, I’d like the financial gain without pure greed, and in the end, the state wouldn’t get her property when she dies (no kids).

Thoughts?

Hi BP community,

I’m in the process of searching for my first commercial property and wondering what the best way is to build a pipeline of properties to analyze.

I use LoopNet although I haven’t heard the best things about it. Is there a better way to search for and analyze commercial properties on a larger scale?

My goal is to be able to find a vast amount of properties to analyze one by one, building my funnel/ pipeline, until I find my winner.

Any advice is much appreciated!

-Chris Yeakel

@Axel Ragnarsson Thanks for the words of advice. I’m right on the threshold of pulling the trigger and I just need to do it and get in. Also, congrats on hitting 25 doors! Any advice on how to start networking with private lenders? LinkedIn? Googling? REI meetups? Thanks, -Chris Yeakel

Chris Yeakel here - I’m in the beginning stages of real estate investing and targeting multi-family commercial with my wife (currently a property manager) and my dad (commercial real estate investor/manager). I’m seeking advice on first thoughts/quick valuation methods on properties; rather what are the first components you consider when a deal comes across your desk to decide on further due dilligence vs bag it. Thanks, Chris & Cora

Thanks Jacob!

@David Friedman I really appreciate the response and advice David!

Hi all, Quick background: My name is Chris. I’ve been studying real estate investing for the last 6-9 months via BPP, forms, books, etc. I still haven’t entered the market yet but it’s going to be one of my next (and biggest) steps. My wife works for a property management company (300+ unit experience) and my dad has his foot in commercial real estate ownership/management. I’m also a former Marine and currently studying corporate finance at the University of Washington. I know it’s better to start small, fail small, and learn as you go; while also playing the get rich slow game and building credibility and personal equity. I’m not looking to hit a home run on my first deal, but I feel it’s necessary to consider the massive benefits of economies of scale via purchasing multiple doors. My question is: Is it realistic/ reasonable for someone in my position to go after and search for a +/- 10 unit property with help from other investors? I have experience around me, but all I have is “book” knowledge. Thanks for any advice and please feel free to connect if you’re interested or have questions in the Greater Seattle market. Respectfully, Chris Yeakel

Hi all, Quick background: My name is Chris. I’ve been studying real estate investing for the last 6-9 months via BPP, forms, books, etc. I still haven’t entered the market yet but it’s going to be one of my next (and biggest) steps. My wife works for a property management company (300+ unit experience) and my dad has his foot in commercial real estate ownership/management. I’m also a former Marine and currently studying corporate finance at the University of Washington. I know it’s better to start small, fail small, and learn as you go; while also playing the get rich slow game and building credibility and personal equity. I’m not looking to hit a home run on my first deal, but I feel it’s necessary to consider the massive benefits of economies of scale via purchasing multiple doors. My question is: Is it realistic/ reasonable for someone in my position to go after and search for a +/- 10 unit property with help from other investors? I have experience around me, but all I have is “book” knowledge. Thanks for any advice and please feel free to connect if you’re interested or have questions in the Greater Seattle market. Respectfully, Chris Yeakel