All Forum Posts by: Clive Smith

Need help with structuring deal for commercial building

Commercial property price 2.6 mil. Friend found the property and asked if i could join. Potential for increase in rents and appreciation upto 3.5 to 4million in 5-6 years but not sure.
Rents at 210k per year for 4 tenants. 50k per year total paid for common area maintenance by all the tenants - which includes property management fees, property tax, insurance, snow removal, other maintenance and misc stuff. Interest rate 6.75%

friend to put in 400k and i will put in 600k. Friend will assume 40% of loan and I will assume 60% of loan. Property management fees at 6%, friend will take 4% for asset management. Rents to be split at 50/50. On sale in 6-7 years once property appreciates he will get 60% of total and i will get 40% of total. is this a fair deal?

I was proposing same terms as above but on sale of property but Eventually when the property sells, we propose that the internal rate of return be fixed at 8 %/year on the initial down payment amount for both parties. Then 10% will be given to my friends and rest will be divided 50/50. 

Not sure whether this is a good deal or not. Going to talk with my accountant and financial advisor but thought will ask here and what potential things to look for

Looking for lawn mowing recommendations in Thomasville
the one we were using has stopped responding to messages or calls

We need to find new fairly priced lawn mower

many recommendations would be appreciated thanks

 Thank you. Can you please let me know if he works independently or works for any company

Anyone know lenders which do cash out refinance on a 6 unit (1bed 1bath unit each) building

I got an off market 6 unit 1 bed 1 bath in NC, for 150k and getting it renovated for another 150K. Renovation will be done in 2-3 months. Total renovation. Since units were in bad shape no one was ready to finance it initially. So i paid cash for buying it and renovating it. Now i have invested 300k into the units. What are my options to take out cash so that i can invest in other properties. Is it Heloc or Line of credit for 6 untis since it comes under commercial. And how are the interest rates like? for how many years. I don't have any idea so any help will be appreciated. Thank you

Looking for a general contractor to work on rehab of some of my units. Prior general contractor was not able to finish the job. Property located in thomasville NC. Would appreciate any recommendations for a reliable general contractor. Thanks

I am going to file a complaint against him in the NC general contractors website and legally hale action, but don’t want to delay remodeling my units 

Does anyone know if a good general contractor. I gave my work to a GC and he is delaying it for many months, he took most of the money and he does not want to finish the projects. I am looking for a good and relatable GC

Thank you all for your recommendations 

I brought a 8 unit that needs repairs or replacement of HVAC systems. would appreciate any recommendations in the triad area especially Thomasville.

thank you