All Forum Posts by: James Otto

Are there anyway key ways to find out how long a property has been on the market when looking though loopnet.

What other sites are a good when looking for comerical real estate?

Will the bank look at upgrades, added apartments and increasing the rents to get a higher DCR?

The NOI is 60K, the Cap there selling it at is 5.7.

I want to get it at a 10 cap. The apartments need a bit of fixing, and I can add 3 more apartments, and the rents are 25 to 40% under value. (Still have to verify that)

My wife just looked it up. The owner paid 37K. So I doubt he owe's anything on it. He's old and wants to retire, so I may make the offer after a bit more reasearching. The expense report that we got from his agent seem quite a bit low.

I'm looking at buying a building that is listed for 870,000 But I feel its inflated based on potential. I value the property at 570000,(10%) cap. Its it even worth making such a low offer since the owners are asking 300k more?

How many of you invest in real estate full time?

I need to start thinking like you.

I came upon a deal of a senior couple looking to retire. There selling a 16 unit apartment complex with 2 bedroom rancher next door. My wife and I are interested in the apartment complex, and could care less about the house. The owners want to sell both together. There asking price is based on what the apartment complex GPR which is about 30% below market rents, and based on the potential that 2 more apartments "could be added" they also have there priced based on the ranch house rented out once they move out. What should we base our offer on? I was thinking to base the offer on the on the current value base one what there renting the apartments for. And make an offer only on the apartment complex, and if we want the house to buy that in a different contract. What do you guys think?

This is our first commerical property offer.