All Forum Posts by: Dillon Kreider

I'm trying to buy a carwash in 1.75 acres busy intersection, in business since 2002 , revenues of 580k and nets 350k semi absentee. Asking 1.5 willing to comeback 850k w 650k down. 

I'd love to find a private lender or partner . Confident seller will negotiate. Im also looking at apartment buildings in the area and multiple deals w 10% cap rate and upside potential. My credit is **** due to losing 1.7 m in Crypto winter 2018, but I'm a serial entrepreneur and can run this business with my eyes closed. Open to any idea that will help me get my acquisition company and commercial real estate firm off the ground securing our first cash flowing asset 

Thank you guys ... @ Jason... Yes , I'm interested in connecting with you.. 

 I've been an entrepreneur since I was 16 and have owned a couple businesses , done just about every type of sales & marketing and understand that like most industries , tapping into this one is about building relationships and having a mentor , associates and friends. I currently launched a corporation which I founded with different intentions, but being a international multi-level marketing company which taught people how to trade the forex and binary option markets we unfortunately never got if off the ground as intended and at this point of my life I'm getting better on knowing when to "Hold em and when to fold em" so to speak.. My plans now are to build a board of directors / team which give value and resourceful for our new objectives in commercial prop/business acquisition. 

      Taking a new direction in an area which I have limited experience I'd like to know if there are some type of jobs I could work for active investors where I could get my foot in the door , like scouting props , or any other positions which could help me build relationships. 

       I have a 16 unit apt deal in the works which the lender has agreed upon, on the basis I furnish either a bank guarantee or a surety bond . I think utilizing surety bonds may be an innovative strategy but one that seems not too common and being a rookie makes me skeptical of this lender as it just seems the process was easier than I anticipated. 

     However , any tips or suggestions from you pro's would be greatly appreciated. I currently live in Central Florida, about 45 minutes north of Tampa 

 Thank You 

Dillon Kreider

 The lender said either a bank guarantee or a surety bond. I can see how using a surety bond can be a good strategy, but also worried about getting wrapped up in some "hustle" pushing bonds. But with the lender allowing me to provide a bank guarantee instead , makes it sound more legit.. Thanks for your input.. I'm a complete newbie to commercial R.E. and will make sure I proceed with caution. But if I can start acquiring properties with surety bonds, may be a good tool and strategy.. When you used a bond on your utility accounts was the fee close to 1% ?  I heard it is usually around 1%. Also, who would be holding the deed doing a deal this way? Would the bond writer want the deed as collateral against the bond? 

Hello, 

       I am new to the forum , and have a question.. I been looking at a 16 unit building , and the lender has agreed to provide the funds if I provide a surety bond/insurance wrap .  I am new to commercial deals, and know a little bit about bonds, but never closed a deal using them as collateral against a loan.. Have any of you done this before? And , Or is it a common. I don't mind posting a surety bond , but concerned about getting wrapped up in a some type of scam somehow.. The lender also said they would take a Bank Guarantee in place of the bond, so not sure. Just seems like it was too easy for my 1rst deal, I expected more of a process getting funded. Any answers would be greatly appreciated. My company is just getting into commercial real estate and business acquisition.