All Forum Posts by: Frank Hinck

@Danielle Mulvena

After you have a 6 month savings then go after the first down payment of 20%

@David Williams

Do a 5 with a tenant option for another 5. Allow subletting. If you break it you’re on the hook until they sign a new tenant then after a new one signs your off the hook.

@Petro B.

Zoning Zoning Zoning. Reach out to the local City Zoning for a gut feel before buying. Will also take a LOT of rebranding to make it not be a “nightly rental”

@Zach Kirkton

It absolutely takes a while to reach out multiple times, form relationships, figure out their pain points and how to solve them. If you go to school for 4 years and then take 3 years to figure out your career... just saying any job including wholesaling takes some time, give it time.

@Sabrina Maples

In most cities MF is considered a less offensive and higher and better use than commercial / hotel, so while it will take an architect, surveyors, and the rezoning process it could be possible. Branding the building as not any longer a short term motel, doing some exterior work, and adding rental amenities like onsite storage lockers, covered parking, fitness room, bike storage, etc will help the operations. You always could keep 2 for AirBnb if it’s legal in your town and then in the off-season rent them for 6 months to cover cost or list with insurance companies for displaced homeowners.

@Cade Collins

Honestly very unlikely. Properties with a Walgreens or other corporate guarantee anchor tenants, they generally are pricey $1M+ and trade at low cap rates 4-5%, but are desirable because of the tenant guarantee and NNN. Honestly unlikely that any NNN owner would owner finance. There are websites like sigNNN that only feature commercial, mostly NNN check them out.

@Brian Christensen

Make friends with an agent. They’ll set multiple searches for your different requirements and those automatically email you notifications

@Jonah Walker

If you’re not finding anything that cash flows then you’re not looking in the right places, or don’t have the right connections - there are deals in every market at all times. Fill out your profile with your city and some info about yourself maybe someone local can help you out.

@Maxwell Coleman

That’s the hottest asset class out there right now with all the online shopping, order fulfillment going on. Find a CCIM accredited commercial broker who can guide you to the right properties. You can look on LoopNet but those deals have all been passed on by the majority of people who saw it early.

@Trevor Austin

Kitchen and bathrooms, can you add a bedroom on a main level or in basement with egress window. Post in the MN local forum