All Forum Posts by: James Winters

Thanks for the input all! I reached out to the seller and they have accepted an offer.  I’ll see if it goes through.  Thanks again!

Looking at a MLS listing to learn what to look for here: 1600 N Emerson Ave

Minneapolis, MN 55411

http://www.loopnet.com/Listing/6099429

The numbers I calculate are pretty close to matching the 10 CAP shown on LoopNet. With 25% down on a commercial loan it looks like it could make $200 per door and a CoC over 15%.

What do I need to do for next steps? I’m thinking verify rent assumptions with a property manager and ask for a P&L. What pitfalls do I need to look for? Does this seem like a potential deal?

Thanks!

I have access to a few million in capital through my friends and family network to get started with real estate.  Where should I go to make contracts for the lenders? I’d like to structure debt payment structures and possible equity in the future.  Is there a good place to find a base contract like with the landlord forms?

I have a friend I am debating starting a business with. He has time, experience as a contractor, and has rehabbed his own rentals and our house. I have the book smarts research and capital. I think we could make a great team, but want to be cautious. I’ve owned 1 rental previously that I have now sold. He has had a few rentals but now has none.

Could this work? What do I need to think about before? We could contract other items such as management and accounting. 

Hi all! I am new and I am trying to understand how to find a good deal so I am walking throughout an analysis of a small multi-unit from loopnet. It show up as a 12 CAP so I can't understand how it could be a bad deal. Here's a link to details: http://www.loopnet.com/Listing/815-9th-Ave-SE-Rochester-MN/8804533/. It’s 6 units renting at about $500 each per month. Not sure on the rooms per unit, but rentometer says the average around this area is $867 so there is room for value add even if getting it at a 12 cap isn’t good enough.

Can someone take a look and let me know what my next steps should be for analyzing this deal? I know it would be a commercial loan, so I should plan to put down 25%. I reached out to the agent for more pictures and a P&L.  What else do I need to think about, and what would a good “low ball” offer be on this?  Thanks!