All Forum Posts by: Eric Benzenhoefer

@Jay H. - How are things 3 years later?

Thanks for the reply @Jeff Kehl

The PM number of 7% was given by the seller. 

Sounds like I have some digging to do...

Does anyone have experience* with an office warehouse property management company in Houston?

* please references only and not self promotion.

What is a good way to estimate expenses in an office warehouse park, $5MM+?

My partner and I are looking at one in Houston with the expenses and deductions totaling ~45% of the gross potential rent of the property:

That includes

• 10% for vacancy allowance
• 15% for planned and unplanned maintenance (lawn, CAM, repair allowance)
• 7% for property management
• 12% for Taxes and Insurance

Posted deals often excluded expenses, so I want to ask the BP community for wisdom.

Questions:

1. To the experienced eye out there, how does those expense %’s look?
2. What items are not accounted for in the expenses?
3. What rules of thumb do you use for your preliminary "deal or no deal" analysis of a property?
4. Are there any books out there on this real estate asset class?

I have the same questions years latter.  @Robert Scholl and @Waylon Themer,  and new suggestions for contacts in the class C, value add, office / warehouse space?

Oh wow, I just got this mention notification.  

How did the meet up go?

Here is their podcast - http://www.business1110ktek.com/pages/Right_Path_Real_Estate_podcast_page

Looking for a Commercial Loan? 

Know your options, secure the funding.

Option #1 - Bank Rate Long Term Financing

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Expect to provide full documentation on yourself and your property.  It takes time upfront, but the rates are worth it in the end.

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If the property still cash flows at these rates, this can be a great plan B for securing that commercial property. Good credit is still required here.

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This is Hard Money, but for commercial properties large or small ($75,000 and up).

Huge discounts come with buying commercial property that is not performing.  This funding option is what you need to bring the property back to performance and get it ready for option #1 or #2. 

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Please send me the following to get started!

ABOUT THE YOU:

  -- 3 FICO scores

  -- Other Non Real Estate Income

  -- Liquid Cash-on-Hand

  -- Years in Real Estate Investing

  -- Total Properties Ever Owned

ABOUT THE PROPERTY:

  -- Property Address

  -- Current Estimated Value

  -- Monthly Rent

  -- Monthly Expenses

  -- Desired Closing date

Doing value added rehab work?

  -- Cost of Rehab

  -- Length of Rehab

  -- After Rehabbed Value

Refinancing?

  -- Original Purchase Date

  -- Original Purchase Price

  -- Desired Loan Amount

  -- If you want to pull cash out, what will you use it for?

Simple enough? 

Send me PM or Contact me through www.OutsourceMyFunding.com

Check out my website for states served - www.OutsourceMyFunding.com

I am a broker and nothing is needed for 5+ unit residential or commercial. 

Please correct me if I am wrong, but I spoke with the state last week.

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Email me the following to start:

• Property Type:
• Loan Amount Requested:
• Refi or Purchase:
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Simple enough? 

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