All Forum Posts by: Hal Cranmer

Thanks Joel.  Your comments about the daycare on the bottom floor make a lot of sense.  Any thoughts on who he could call to find tenants?  Like a local Chamber of Commerce?  Or a University?

A friend of mine just purchased an office building that was in foreclosure.  The building is about 16,500 square feet and two stories.  It has beautiful glass windows all over and it looks out on mountains and desert - very scenic in the Southwest US.

He has a plan for tenants in 3/4 of the space, but has one more unit (about 4,500 Square feet) that he is trying to fill.  The building is right next to a community center for a 1200 home development.  The development was just purchased by a developer.  There are probably 50-100 homes developed but the previous developer went bankrupt.  The new developer is already putting up homes and they are selling.

It looks like the nearest city is growing well, and the path of growth will go right through this development, but the downtown is about 5 miles away right now.  He asked me what I think he should go after to put in there.  I've brainstormed with him for something like a day care or some kind of internet business (that is what is renting the upstairs). 

I would love to hear the thoughts of people on this forum.  Thanks.

I found someone to go with me, so I don't need anyone anymore.  Thanks to everyone who considered.

Appreciate the advice Dan.  I will report back on what I found.

Thanks Marcus, I will check it out.

Hi,

I am looking to head down to Phoenix for a course run by Gene Guarino on turning your rentals into assisted living facilities.  Once you change them over, you can make rents of $6,000/month or more on one single family house.

The course is from Feb 27-Mar 1 in Phoenix and the retail price is $4,995.  Through some discounts I have found I can get the course for $3,295 and bring a friend for free.  If someone would go with me, we could make the course only $1,650.  With the techniques in this course, you could pay back the tuition in a month of renting.

You can read more about this course at this website:

http://www.alftrainingacademy.com/

If you are interested, please PM me.

Thanks,

Hal

A wholesaler came to me and asked me if I had any connections to sell a 30,000 sq foot warehouse/industrial building near St. Cloud MN. Would anyone have any suggestions on how to find a potential buyer for a building like this? It's in an industrial park apparently and is half rented. Could I do a direct mail campaign? Talk to some commercial brokers? Any other ideas? Thanks.

My lender called me yesterday and said he had A deal for me. A developer he knows is starting a new development and needs some cash to build a spec home to sell future homes. The homes would sell for around $200K and I would lend him $130k with him taking partial payments over 6 months. At the end of six months his daughter would buy the house and I would make 20%. She can't buy the home now because she is still in nursing school. She has a job lined up supposedly after school ends at which point my lender can finance her because she will have income.

This is the first time I have thought of anything like this. The deal seems a little too good to be true. I was wondering what kind of due diligence I should do? The property is about 2 hours from me so it is not in an area where I normally invest. Any thoughts and opinions would be great. Thanks.

Hi,

Does anyone have tips on getting snow shovelled and grass mowed at your rental properties without doing it yourself? I have tried to give discounts on rents to tenants and it becomes a management headache getting them to do a good job. I live in Minnesota and we get several blizzards a year. I am tired of checking to see if the tenants did it, yelling at them to get it done or clearing the snow myself. They also many times don't do a great job of cutting the lawn and break the lawn mowers a lot (although I do buy cheap lawn mowers off CL).

Do people get a service (seems expensive) or hire a college kid or something else? And yes I already know that a simpler solution would be to buy property where it doesn't snow, but it's a little late for that advice.

Thanks,
Hal

Thanks again to everyone. The judgment was against both of them and both of their names were on the lease. I figured it would be a lot better to go after her than him. Maybe I will have to eventually settle for a lesser amount, but doesn't it make sense to at least drag them into court in order to make them a little worried and maybe up the amount they offer?

Thanks for the quick reply Bill. He is in construction and gets periodic work all over the country from small jobs to really big projects. His wife is a nurse. I think they can pay but it will take time. I'm willing to chase after him if I can.