All Forum Posts by: Clayton Cerer

Hi All, Happy Holidays!
We are looking to purchase another investment property- it is a 13 unit building with an 8.5% COC. Our purchasing criteria is 10% COC... Our biggest issue is the Gas & electric are paid by the landlord... which we do not particularly like, it is right next to another building we own so it would be a nice deal.

Just wanted to ask for some opinions on ways to bill back for gas & electric. This is one hurdle we've not had to deal with yet. 

Thanks All!!

Hi All!!!

2 Questions-

1. We had a SF burn down, the Tenant was already 2 months behind on the rent… kind of a sticky situation…? What do you guys recommend. The rent was owed prior to the fire.

2. Tenant completely destroyed entire house, 4 months behind on rent. Most likely in Jail with a DUI, cannot get ahold of him. What’s the best way to go after the owned rent and repairs cost?

Thanks!!!!!

Does any one know/recommend a solid commercial real estate CPA? Or even a general RE CPA in the Chicagoland Area?

Thank you!!!

Hi All!

You guys never seem to let me down.

Wondering if anyone has preferred/recommended SEC Attorneys in the Chicagoland area?

Thank you!!

@Mandee H. Hello, if you want to message me and ask questions about our process I’d be happy to answer them. So far it seems those costs are right in line with market, however we have now secured agency debt with much better rates. We have gone from a 5.39 down to roughly 4.38 by qualifying to agency debt

@Todd Dexheimer thank you very much for your feedback, this is our first commercial loan so we just want to make sure we are in line with market rates.

@Tj Hines Thanks for your feedback!

Hello!

We are working on our loan for our first apartment deal. It is a 24 unit property. Fairly clean deal. Loan amount is 1,098,000

Our lender is saying we have about $14k in estimated costs of due diligence, documentation, appraisals, etc. this $14k is outside of the additional $10,098 that we will pay for origination fee... plus we still need to pay our attorney...

Does the 14k seem high??

Please let me know your thoughts!

@Ryan Swan awesome. If we elect to go with their program I would love to bounce some questions off of you.

@Ryan Swan thanks for the Input! Do you currently use it?