All Forum Posts by: Iraj Kasimi

Thanks everyone! i actually sold my property in Alabama but appreciate the help

Great info.  Really appreciate it!

 Thanks for the info Shawn.  So do you have any recommendations as far as an insurance company that is good and has good rates for a commercial property?  I agree replacement cost would definitely be what I would want covered when it comes to hazard.  Do you think I should get tornado coverage due to it being in a tornado area?  Thanks

Thank you everyone for the information!  The property is in the Huntsville area, about 30 units, build in the mid 80's.  I'll contact a Farmer's agent.  Any idea what type of information they will require?  

Hello all,

I am interested in purchasing an apartment complex in Alabama.  Just wondering, what types of insurance should I carry on the property?  Any advice on where to get the best deal on the insurance?  It's about 30 units.  The area does get tornadoes.

Thanks

Iraj

Thanks Randy! If anyone else has any connections there, please let me know!  Truly appreciate it.

Hello All!

I hope everyone is doing well.  I am looking at buying a 30 unit property in Huntsville, AL.  I was just wondering if anyone know of any strong management companies in that area who specializes in apartments.  Also, I'm in need of a good lawyer and accountant who have experience in commercial real estate.  

Thanks!

Iraj

wow. Thanks for the great info and analysis! I think I'm going to decline the loan for now. It's just too much risk and I don't have a strong deal even lined. It is a tough loan. The plus is it doesn't reflect on the credit report. But that's pretty much it. Thanks again for the great info!

Thanks for the great input.  I was considering using this along with some of my own money as a down payment on a larger property; like something in the 1.2 mln range with about a 10% cap rate.  This way I would probably be able to squeeze some cash flow out.  Is this a possibility?

I've just been offered a loan for $150k which is great. Problem is the loan term is for 8 years at 13.99% interest, and I can't pay it back early for 24 months.

I know everyone talks about raising funds, etc.  Should I take this loan?  I've been running numbers like crazy on potential deals and can't get much or any cash flow at this rate because my payment will be about $2700 a month.  Any advice would be appreciated!