All Forum Posts by: Ken Naim

@Alicia Marks a Publix anchored shopping center here in south Florida. I doubt I'll buy it as I'll financially retire before I reach the funds to acquire one.

@John Mckee i just bout a 37k sqft suburban office building. Rents are strong and vacancies are decreasing across the country, expecting full occupancy by mid 2023. Good time to buy.

Ask for seller financing, work with local banks that may accept higher LTV deals.

@Karl McGarvey Bridge leders are good for close to stabilized, hard money are for gut rehabs. I used hm for a gut rehab of a 40k sqft warehouse. Hard monney lenders typically lend both commercial and residential as long as you have a track record or can show good value and have skin in the game.

@Terry Imus it depends on your exor plan. If you're planning to sell in 7 years, get 7 or 10 year note. If your looki3nf to sell in 2 years a 3 or 5 year is good. Long term hold the longest you can get. Try for a 25 or 30 year amortization to improve cashflow. Ask about prepayment penalties and make sure you can live with them if your plans change.

@Tony Thomas talk to a broker that writes policies from all carriers and see what they come up with. Florida is harder than many states where you can pick from the big 3 or 4 carriers and get a good rate.

@Arwin Nassiri for condo hotels ypu have to pay every time they replace furniture to suit the new style or image, not to mention wear and tear. It can run $20k or more, sometimes yearly.

Also they can change management companies any time, resulting in additional fees, renovations and style changes to common and in unit furniture. Net profits aren't as they initially look on paper.

@NA Neal states/cities assess property in several different ways which is too long to go into here. Some areas reassess annually, others only on sale. While some have caps on how much they can go up in a year, usually only on residential, others do not. Some have formulas where they take sales prices a reduce it by a factor, others average the property near it. It can get weird.

In short the assessed value has little to do with the market value. The key is to figure out what your property taxes will be post sale.

Mixed use buildings are hard to sell as residential buyers and commercial buyers avoid them. The seller is asking a 10.4 cap, so it is worth checking out.

Make sure you factor in any deffered maintenance, length of leases, need to evict etc.

@Michael Rozner Welcome to real estate investing. Port St. Lucie has been booming as much as the rest of florida and is a nice area. I have a few friends who live there. I'm 45 minutes south in lake worth.

Florida has experienced tremendous growth over the last few years and it is expected to continue. Prices are up a lot in the last 2 years for good reasons, so don't hesitate to invest. Make sure you cashflow and don't rely on appreciation. Consider it a bonus.

@Joe Archbold the easiest way is syndications as they do all the work for you and have knowledge and experience. Returns can be stronger than the stock market averages but everyone has a different definition of strong returns.

All the methods you listed are hard until you get the knowledge and experience then they are easy. All require work and have different risks/benefits. Also the returns are generally proportional to the risks.