All Forum Posts by: Jim Pylman

I use Yellowletters.com

Thank you for the response @Trey Golston I have 1 more question but I will PM it to you.

@Jonathan Ahle Go to yellow letters.com and look under the "yellow letter" tab. There are 20-30 examples there for you to get some ideas.

@Trey Golston Welcome back and thank you for making yourself available! I have 2 questions as I'm just starting to look at some commercial deals... 1. Am I able to apply a seller credit at closing into my down payment? 2.How do you view a partial owner carry from a lender perspective? How would it effect the term/down payment? 

@Account Closed Great idea! thanks for the input

@James Williams Run away from the idea of purchasing new builds! That road is definintly not the "highest and best use" of your capital especially living in Florida. You need to be looking into areas where you can deploy your cash and create equity and value that previously was not there. Search and read everything you can on BRRRR and you will learn the unbelievable value that it can create! Happy Investing :)

Hello Everybody - So here is the situation... I found an Off Market 15k sq ft industrial building here in Northern California. Its made up of 3-5,000 sq ft units of which only 1 is currently occupied. I originally contacted the owner because I noticed 1 unit went vacant(the back unit) and then a few month later the middle unit followed suit. Its now been 4 month and the current ownership says they've received little interest in the vacant units.

Here is what I think is going on! Unit #1 ,which is the frontage unit, is occupied by a Recycle Company that take in bottle and cans from the public. I have sat in the parking lot many times watching the comings and goings of a less than desirable crowd of folks some of which are homeless needless to say. Now I don't want to come off as a **hole.. I think that recycling is great and people have to make a few bucks here and there but I cant help but think that their presents steers any professional prospective tenants down the road! So here's the real question..

 If I close this deal, do I evict my ONLY tenant and start with a totally vacant building? If I do this, I would need to fill 2 units within the first 4 months or I would face a zero cash flow situation for the 1st year. I know the area and I feel confident in this market but the unknown has me on edge. By the way this would be my 1st Commercial deal so I am approaching everything cautiously. I would love to hear any suggestions.

@Josh C. Go to some local meet ups and meet some Wholesalers that work your area! That would probably get you into the price point that makes since for you... I wouldn't necessarily quite making low offers on MLS properties that are 90 day listed either especially with markets slowing. You'll just have to take some time to find an agent that fits your needs. Goodluck!

@Josue Vargas Excellent advice on buying a extra 10 + %! Ive got pinched because I didn't do this and I've known countless others as well. Its worth a few extra bucks!

I would go LVP in the whole house! Better yet, Waterproof LVP! If you are a pet friendly landlord then the investment will pay for itself. We put in 1,200 ft of Shaw 700 touchstone carpet back in the summer of 2017 and are very unhappy with the results. We will NEVER carpet again!