All Forum Posts by: Daniel Etheridge

it all started about two months ago when I was in Florida on a meeting. I guy I know down there invest in pre-foreclosures. We were talking and he showed me and my brother how he was creating a great buyers list and staying connected on a more personal level. so we decided that we were going to use it as well. It has been nothing but amazing. I know can send out a video of my properties to the buyers list instead of a boring text email. I did learn that sometimes txt emails get ignored but video doesn't. anyway long story short everyone has been asking about this and I am having to go through this conversation several times a day. I set up a link so people can see how we got started. www.etheridgelive.tv
hope this helps cause it helped us.

We looked around for all sorts of new ways to show our homes. We did everything from auctions, bandits signs, flyers. You name it we did it. But one thing we started using is video. It helped us connect on a personal level with buyers and sellers. We had our list and sent them a video email all about the home. sometimes we even broadcasted live open houses via the web.
This really helped us because people got to know us as people and not just an email or phone number. Just thought I would throw that out there for anyone who is interested.

In general what to commercial lenders look for when evaluating loans for apartment complexes?

There is a property I was looking at priced at $875,000. It was appraised at $1,200,000 and that was with a 25% occupancy. The building was previously used for several businesse offices. The zoing was changed to residential (multi family). The building was originally built as an apartent complex.
32 of the units currently need rehab. Which the estimated cost totaling $166,000. The average rent is $600 dollars. It is a 54 unit complex. Here is my question. What questions should I be asking the owner and how do I figure what this building can possibly cashflow a month.
I have plenty of experience in residental but not multifamily. How do I determine what would be a good investment and cover my debts and still allow me to cash flow. I have a basic knowledge and understanding of multifamily but I want to know more!

REI coach, This isn't a 5 million dollar single family home. It is a construction project. A 58 unit condo building. I needed to get my finances in order because one of the equity partners backed out for personal reasons. I was either hoping to assign my interest or find some on who wants to do this themselves. All due diligence has been completed. And the ROI is great.

HI everyone,
I should of introduced myself months ago when I joined but at least I am doing it now.
I live in Nashville , TN. I am 26 years old and relatively new to investing. I have only been doing this for a little over a year. My brother and I started our own company and have been doing pretty good. We have been doing residential investments but recently have been involved in some commercial and land developments. I am new to commercial and development so I am trying to learn as much as possible. Any advice would be greatly appreciated.
If there are any other Tennesseans out there I would love to meet you and talk about our market. Mainly the Middle Tennessee market.

Is there a lender (convential/hard money/private) who will loan 100% of purchase price and also help with construction cost for a share in the profits.

Is there a lender (convential/hard money/private) who will loan up to 100% of purchase price in return for a share in the profits. I have everything ready to go but one of the investors backed out due to personal reasons. We can break ground in 30 days. I have all the information if needed. thanks

i have been offered a property. it is a $5million dollar property. Two investors did there research and homework and were about to break ground on a new condo project. One investor had personal problems and had to back out. Here is where I come in. I am in a group of investors and I personally was offered the property . I am not sure my private lenders are going to step up to the plate. The numbers work. They have money tied up and I don't know if I can wait on them, but without them I cannot do this.the seller has been calling me everyday asking if I can do the deal. They are desperate to get started. I should of started in April. Is there any legal issues knowing that I can't afford the property without my partners and signing the contract anyway. Including the initial purchase price the total investment would be 23 million. The NOI is $10.2-10.8 millioin. With an IRR of 39.9 over 3 years.
Here is my question. Should I just go ahead and get the property under contract and then assign it to someone else. And if so how big of an assignment fee do you charge on figures like this and where can I find someone that I could assign this to? Can you double close commercial deals. How? I have all the figures , hard and soft cost, marketing research and builder. The project can be ready to go in 30 days.
Any help would be greatly appreciated. thanks
daniel

I know of a development that just got approval in our town. This is not common knowledge. But I was told by the developer who is a friend and told me to get my hands on some land around it. How can I tie up some property near the approved development. Remember I have limited funds to work with. Maybe an option. but how would that work
thanks