All Forum Posts by: Greg W.

@Jon Klaus

@Bill Gulley

@Eric K

Any thoughts on the deals I have listed above, gentlement?

Thanks for your input, Joel. The space complex is only 10 years old and is in growing area so I'm not too concerned about this being a poor property in the next few years. How about your analysis of the numbers?

Hello,

I'm trying to figure out how much to offer, or even if I should offer, on a couple of different commercial office condos and would like some help analyzing the potential deals.

Both office condos are in a large office condo complex in a medium sized town in a suburb of Northern IL. They are both short sales.

The numbers below are without financing, for comparison sake. All expenses are accounted for in NOI's (gas/electric, property tax, property insurance, maintenance and condo fee).

#1 $199,900 asking price, $13,500 NOI/yr, 2,080 sq.ft. (5 individual condos within the main one, four are rented on one-year leases.) Sold for $425,000 in 2004.

#2 $399,900 asking price, $45,500 NOI/yr, 4,170 sq.ft. (One tenant with 5 yrs left on lease.) Sold for $459,698 in 2002.

What should I base my price on? Cap rate, price per sq. ft., IRR, recent comps.?

I would need to partner with someone on deal #2.

Then, how would I determine what to charge tenants on a per sq.ft. basis? And does that have any relation to the price you pay for the property?

Any thoughts or advice would be appreciated!

His property is under $500,000 and I'm not sure why he wants non-recourse as I didn't ask him. I just said I would see if I could find any lenders.

Do any of you know any non-recourse lenders I could direct him to?

Hello,

I'm trying to help a friend find a non-recourse loan for a multi-family property he owns in Baltimore. Anyone have suggestions on who I could suggest he contact?

Thanks,

Greg

Thank you, for all the suggestions. Especially the insight into Bolton Hill, what things to watch out for and joining a local apartment association.

My goal is to accumulate cash-flowing multi-family properties. I hope to acquire one or two per year, depending upon cost and cash flow.

Hello,

I'm a new investor looking for multi-family properties in Baltimore. I'm focusing on Mt. Vernon and Charles Village but am open to other areas as well. So if you have suggestions on where to look, up-and-coming areas, I'm open to them.

I look forward to being a part of the community.

Greg

Derek,

You should be able to have a lower down payment and better interest rate as owner occupied. I'm not sure you'll be able go as low as 3%. Check with different lenders, including credit unions to find the best terms for you.

You should ask the real estate agent for the rent roll. Also, ask to have all expenses detailed for you. Then you'll be able to figure out the cash flow and cap rate. You'll want to find out who pays for water/sewer and other utilities; each tenant or landlord?

Good luck!

Greg