All Forum Posts by: Cris Z.

would rather he have "skin" in the game and reduction in price is unrelated to financing mix

Hello

I am in the midst of negotiations to purchase a mixed use building. The seller would like to enter into a leaseback as the commercial piece of the building is occupied by his businesses. 30% of building is residential.

Given I just opened an LLC (no business history) what is the best way to finance this? The building also has no history behind income as it was just constructed but all lease agreements are currently in place and executed. Seller also willing to provide a personal guarantee on the lease terms (given the bulk of the rental income is driven by the commercial units he occupies). Seller is also willing to provide a little financing (appro 10% of price). I intend on putting approximately 40% down. Given this, I would need a loan for the remaining 50%.

Any thoughts on how feasible this is?

Thanks!!

Cris

thanks no help though with that response 

hello,

I am looking to invest in a multi unit property. 6 residential units and one commercial unit (one building). 

What is the best approach to fund and structure this investment? We can pay cash, obviously will get a loan for better returns. Should an LLC be formed and then obtain a loan through the LLC to make the purchase? We intend on putting 60% cash. So 40% loan.

Seller pushing for a very quick closing. Provided we can't get our ducks lined up on 45 days (LLC formation, Loan etc,) we can just pay cash and later on figure out how to transition to an LLC structure.

Is this the typical way commercial real estate deals are completed, through an LLC? (generally speaking).

Hello, 

I would like to do some renovation work in my house which will primarily entail painting, molding, new hardwood flooring, plumbing (new bathtubs / toilets, etc), and electrical work (would like to install recessed lighting), and painting. I would like to hire one company that can do all of the above, without subcontracting any of the work out. I also want to work with someone who is honest and very meticulous at reasonable prices. Looking to start in the next couple of weeks. If anyone has any recommendations please let me know, I would appreciate it!

Best regards, 

Cris

Thank you Anthony, I will definitely be getting  estimates. It is in NJ.

Hello

I am trying to figure out the cost to raise ceiling heights. The attic has a stick structure, and would like to raise the ceiling height from the current 8 feet to approximate 9.5 feet. An architect looked at the house and indicated its definitely possible. I was wondering if I could get an honest estimate from someone here at what the cost would be. An approximation works, and assume full costs (trimming, paint, etc and some work around electrical, ducts, etc). What would be a realistic cost to do this, on a price per square foot basis. A range is fine as well. Not looking for anything extra crazy, but also would like something nice. I appreciate your help!!!!

Thanks a lot, 

Cris

Thank you. That is very helpful. Regarding modular building, can you do that for additions if the house is already built?

Also, the house is a ranch. Provided that the foundation and beams can support, what is your recommendation on building up versus out. I am hearing different outcomes with respect to which will be more expensive. Not looking to do anything fancy, but nothing cheap. I guess its tough to tell without you seeing the house. But in general, any experience / advice on this?

Thanks a lot. 

Cris

Hello, My wife and I are in the midst of closing on a ranch style home that is approximately 2000 in square feet in Monmouth County. Given that we would like to expand the living area to approximately 4000 square feet (incremental 2k square feet) I am looking to hire an architect to help with the designs and get it built. Based on your experience, I would be curious to hear your advice on how to hire a good architect, if it's necessary for same company which provides the architectural services to also do the construction, and any recommendations. It's an expensive project and would like to keep it very budget friendly so curious to hear thoughts on the best method to hire architects / contractors. I have heard to not hire a contractor that outsources all labor as this gets costly. Does it make sense then to make sure architect can do construction work in house? Should I work with a smaller architect and builder to keep costs down or does that not matter? Also if anyone has any good recommendations to complete a big project and minimize costs as I know these things build up, I appreciate it. Also any recommendations on companies to use please let me know. I just started the process. Cris

Hello, 

I am looking to purchase a potential single family home and was hoping if someone had experience reading survey maps and could provide some advice. I am in process of speaking with the township, but given how slow they move, was hoping someone with knowledge could point out the important aspects, especially around the conservation easement, as I try to understand if I can clear trees out to expand the backyard. Appreciate your help, and note that it is the corner lot with acreage of approx 1.72.

Thank you

Cris