All Forum Posts by: Justin Callaway

I have to agree with Jon on this. Also, I would suggest you research what is common in your area for tenants to either ask for, or expect from their landlords. Depending on your market, I would also determine feasible concessions that you are able to give and if you are not going to hire a broker, then an above average commission could help as well.

The name of the game for offices, especially struggling ones is going to be proper numbers. Maybe go after some Non-profits that could use the space.

Oh yeah, before I forget, ASK YOUR TENANTS. They could hold the key to you filling your building up through their networks. You would obviously have to sit down and talk to them about whatever changes you are making and how you plan to manage the building, and maybe throw in an incentive or 2 (people like things in pairs, except problems) for them as well. They could have a slew of friends and colleagues that are in need of just what your building offers.

I'm gaining interest in investing in REITs. My question is if there is a correlation or link between the performance of a REIT vs. the performance of the industry it serves. For example, if the hospitality industry has a good year, will a hospitality reit have a good year? What is the relationship (if any)?

I recently got an internship in RED and would also like to get my NY salespersons license. The problem I'm having is that I can't really afford to do it right this moment because I am a college student.

I'm wondering if anybody knows of any financial aid available for this program or a way to use existing student aid to pay for it (maybe at a university in NYC?)

Any help would be appreciated because this is a great opportunity for me and I really want/need to pursue it.

Let the praying begin,

Justin

I haven't been here in a long time. Also if this is in the wrong place, please move it.

I had a thought about creative financing. With Owner-Financing, how do you think it would work with downpayments? Most require downpayments I know, but what if the property (a multi-unit) was already producing cash flow, do you think it would be possible to get them to accept the cashflow before the "loan" payments start as the down payment?

Essentially, you pay nothing down, but as part of the contract, they accept all cash flow up to whatever the downpayment is, before the payments are to start on the property, and anything that is deliquent at that time must be paid in full.

So if downpayment $10k and cashflow is $4k and the payment on the property start in 2 months, then you automatically give them that 4k in cashflow each month and that gives you 2 months to come up with the other 2k for the down payment and then you proceed with payments in accordance with the contract.

Is this done? Does this even make sense? I want you all thought. I'm looking from a college kids view of what would be great for me to get into investing (I want to start in small multi-units), with just a general example.

I'm a hypothetical type thinker to see how far I can push the envelope. Heres my situation. I'm young (20) and in love with real estate. Moreso with development, but i wanna do redevelopments and rentals first (commercial and residential like apartments). So this is just I thought I had of financing.

What if I were to take over the mortgages of 2 houses and use them as collateral for a mortgage or loan on a commercial building of apartment building? Of course if i wanted to get through no-money, it would have to be extremely fast, but i don't that's likely at the current time.

Also, is there a way to invests by just getting buildings under contract, getting the zoning changed, and then selling your option? I've been considering that also, but I wanted some input.

Bart,

Thank you for your response. Its actually kinda funny to me that you're on here, because after searching on the net shortly after starting this topic, I ran across your site and have been benefiting from you information ever since (well especially once i realized that you were in Melbourne, FL and not in Australia (lets just say i didn't read well)). I'm actually reading your e-book right now, which is very helpful.

Justin

Ashamann01,

I understand what you are saying, I'm a very nontraditional type person, so I'm trying my best to get as close to development as possible and have found a couple of ways.

Also as for resources:

Books like The Art of the Deal by Donald Trump and The Peebles Principles by Donahue Peebles have really given me a general understanding of the process.

Also, I looked around in my schools library and found a book called "Real Estate Development: Principles and Process" and all it does is study the process and what needs to be done to get to certain points. It's from the Urban Land Institute, and I'm pretty sure it is/was a textbook but I am thoroughly enjoying it and learning a ton everyday!

What part of zoning determines how tall a building can be? Anybody know the term for this ratings or distinctions?

Nobody has anything to say?

I am looking for some information on RED. I want to development commercial and residential properties internationally, but there are no programs close enough to me to attend (at a school) on the subject (Auburn, AL area).

I am excited about Real estate and making my dreams and visions come true, and the more I can learn the better off I will be. I'm 19 now and I'm trying to hit the ground running ASAP because my dreams are too big to just be sitting around.

Any help would be greatly appreciated.