All Forum Posts by: Jeremy Cohen

Thanks a lot for the feedback, Gregory. I am an entrepreneur who is also an interdisciplinary designer & marketing consultant. Virtually every business I've ever looked at -- and I've looked at more than 10,000 -- has between $10,000 and $1 million of assets sitting on the table that they really aren't seeing. It has to do with an interesting aspect of leverage that not one in a thousand business owners, CEOs or accountants ever recognize -- and those are the intangible assets. 

That means the advertising, marketing, good will, customer relationships, distribution channels and expertise that a company possesses -- and ways they could more effectively and productively use them to their advantage. I'd love to actually speak with you further & am looking to connect with other likeminded members here on BP especially in FL.  With your permission I could show you how to grow your income, taking the elements of uncertainty and disappointment out of your plans. Let me know your thoughts. Perhaps I could help increase your already impressive momentum!

John, I outlined specifically why there is no risk, however, I would like your personal input on what could go wrong & possible solutions.

I am very open to what everyone else has to say as far as suggestions for sub-letting to tenants. It will be a leasing space that wholesales from landlords and then subletting it at a margin in small blocks—

Bill, yes you are correct. That is precisely what I am doing. After months of closely examining over 400 industries we’ve decided to put our initial focus on uniting the best and brightest minds to solve the ongoing problem of the outdated education system.

We are offering an extremely affordable and flexible place for people to host their groups and events, we’re fostering the development of healthy communities and people who share common interests.

I also did outline specifically what would happen if the tenants were not paying the rent too, but as far as the law is concerned no I am not an attorney so I would like to get feedback on that too.

What is it that you think is the best option to go about leasing office space in your personal experience?

Please I am asking all of you to be my personal guides!

All the best!

Thanks for all the feedback thus far. 

It's been an invaluable learning experience for closing my first deal.

The biggest ordeal I have as of right now is actually knowing what the contract consists of.

I have a plethora of leads here in FL & I'm looking to connect with anyone who could possibly assist me.

I'm an interdisciplinary designer & marketing consultant & I'd be more than glad to show you how to increase your ROI through branding & increase your advertising effectiveness.

Also I am not sure if anyone noticed the links I provided specifically this post: "Hack" of 9/29/14- How to Wholesale a HUD Deal Without A Double Close

Once I have the contract how long does it actually take to close out the deal?

Can anyone provide me with specific examples from their first deal?

I would be grateful if you could share your experiences!

Cheers!

Here are the Pro's / Con's I've outlined thus far: https://www.biggerpockets.com/forums/93/topics/141...

https://www.biggerpockets.com/forums/12/topics/728...

https://www.biggerpockets.com/blogs/4240/blog_post...

https://www.biggerpockets.com/renewsblog/2012/12/1...

https://www.biggerpockets.com/renewsblog/2012/12/1...

I would love to hear your individual thoughts on the aforementioned.

All the best!

Hey, BP!

Hope all is well. 

I'm fairly new to BP & I've been doing due diligence on how to do simultaneous closings. I've been reading through your posts & looking at your recommendations.

Here in FL there are a plethora of leads available which could be a fairly large amount of profit for an investor.

I'm a marketing consultant so with my background I could get investors a 2100% or more ROI. I'm very much interested in actually closing my first deal & I'm looking for some insight.

I've got a plethora of cash buyers at hand & an investor friendly title company.

What I'd like to know is there a specific contract that you use & do you have an example? Second, is it a necessity to use transactional funding?

I'm asking because I was previously told that no hard money lenders would be interested in loaning me the funds without actual experience.

Last but not least, if I want to use my end buyer's funds to close the transaction & the title company won't allow it would it be possible to use a RE Attorney?

Any feedback would be much obliged!

All the best!

I'm actually surprised that it's so bewildering that someone can offer 100% of the profit. All the revenue & leasing fees will be deducted from the back-end. I'd like to spend as much as needed to motivate people to join, Brent. 

Brent, as I previously mentioned I'm creating a platform for co-working & ed tech so I'll be leasing the space out to tenants. The space will be used for renting desk space, events & classrooms. Co-working is not necessarily a new concept, however, it hasn't been done like this. 

Unlike residential people don't need to rent a space that they are not living in, however, everyone needs to be attached & have a sense that they belong. I'm creating a community of creators. In addition the emphasis is more on educational reform rather than just pure co-working.

I will be paying creative individuals to teach what they know to other people i;e - "How To Build Mobile Apps On Android" or "How To Grow Your Enterprise" As I previously explained they will get to keep 100% profit on the front-end so it makes them more motivated.

Yes, you are correct in your assumption. I don't plan on using my own funds. As I explained previously with this particular strategy the double escrow happens at the end. Worst case scenario is if for any reason they on’t make their payments then what happens?

They take back the property.

They sell it and they get all their money back and sometimes even a profit. So that’s exactly what will happen. If for any reason their rent isn’t paid, they would merely come in, take out their dues, sell the lease and get their money back.

They file what they call a UCC filing. It’s basically a business-based first lien on the assets.

No one else can have a claim on the property. So they’re safely protected.

So if for any reason any of these deals didn’t go right, the lender has instant control of the property.

Hopefully this clears up any confusion!

Brent, yes Seven Times Eight is a direct reference to the Japanese proverb Nana korobi ya oki. The concept has already been proven & my success is based on persistence Not luck.

No, I don't need to convince myself that my strategy will work. The tenants will be the ones actually paying the lease. Isn't that what you do in residential? Also, I am paying people & allowing them to keep 100% profit on the front-end so it's benign towards them.

I said risk-free not fail safe. I understand the concepts are totally different. It's risk-free because of the concept of the double escrow. Did you miss that part? That means essentially I would be subletting & I could have the option of lease to own then reselling if necessary therefore eliminating the worst case scenario. 

What I mean by being in multiple places simultaneously is being in different cities at the same time. Does that make sense? If you'd like I can elaborate . . .

Thanks, so much for your swift reply, Brent! I'm always down for learning new strategies & case studies to how others got initiated. If anyone else has personal case studies to share don't hesitate to post.

Jonathan, it's not a quote that I know of. I believe I borrowed it from a headline then I created a graphic with it. I'm an interdisciplinary designer & marketing consultant which is how I found this forum to begin with. 

Steve, actually let me clarify I'm creating a startup called Seven Times Eight for freelancers, hackers, students, artists & anyone with an independent disposition where they can come together to learn, teach, collaborate, play & socialize.

Obviously to do that I need space so through researching the double closing strategy I learned that you could lease property with the option to buy using a double escrow. 

Therefore, my tenants would be paying for the space instead of me purchasing the property outright. I actually wouldn't be on the hook personally with this strategy & it would be entirely risk-free. I like this approach because I could be in multiple places simultaneously while having Zero Downside. 

My main concern is actually getting the owner to agree with leasing me the space which should be no problem as long as I can share profit. It's a win / win scenario.

I'd love any feedback or concerns & if you'd like to sign up & you're interested just shoot me a DM. 

Thanks everyone!

Brent, I learned about the aforementioned strategy from a guru. It was a suggestion. I take all suggestions as face value. It's not necessarily about what they suggest but finding new & alternative methods to succeed. 

Owner financing was also suggested in another strategy that I learned as well from another source. I have been diligently looking at all case studies on BP to find solutions to initiating with no down payment which is how I found out about double closing & simultaneous closing. 

Is there any feedback you can provide from your personal experience when you began?