All Forum Posts by: Jason Leu

Thanks Jonathan!  (sent you a DM)

Hi @Jonathan Klemm -

I'm actually in search of a real estate attorney in the Chicago area as well for a commercial purchase.  Would you mind sharing any contacts you have?

Thanks in advance!

Thanks again everyone for your thoughts, this is all super helpful

@Ronald Rohde, @John McKee - Thanks to both of you for your insights!  Given some of the current disruption in the banking world set off by the SVB bank run, I'm a bit wary in taking a loan from a smaller local bank, given that there's increased probability of the loan being called should the bank run into a liquidity issue.  That being said, I'll definitely start there and spin up some conversations.   (John, thanks as well for the tip regarding Atlantic Union).

I've been investing in residential properties for the last 10 years, but am just diving into commercial real estate now. To get my feet wet, I was looking at starting with a triple net retail condo.... most likely in the $1M - $1.5M range. However, I'm unfamiliar with the typical loan requirements for this asset class. I've heard anecdotally that downpayment ranges anywhere from 30-50% down (that's a big range), and I've also heard that there's sometimes of a minimum of $1M required on the loan size before banks will want to deal with you. However, there's surprisingly little information that's readily available online. Can someone experienced with NNN investing help me understand what those requirements typically look like?

Thanks!

Great, thanks all for the quick responses... they've been very helpful

Hi, first time poster here.  I'm just getting started with buying rental properties, and I've been targeting a 2br/2ba condo in the Seattle or Portland areas.  I don't live in the area, so my thought was to get a property manager to help watch over the place in my absence.  I do have a few questions:

• 1) . I'm looking mostly at newer (Built in year 2000+) condos.  Do I really need to get a property manager for something that I'm hoping is relatively maintenance free?
• 2) . For a small condo, it would seem that there's far less for a property manager to actually do, as opposed to a SFR. Should I still expect the fees to be about 10% of the monthly rent?

Thanks in advance for any advice!