All Forum Posts by: Khaled Seirafi

@Frank Procopio That's very good to know. I know residential and commercial are two very different ballgames, but I know that residential agents won't work with you if you don't sign an exclusive agency agreement. I would imagine that we have a lot more bargaining power in this situation, but would you say that that's something that commercial agents ask for? 

@Joseph Cacciapaglia Thanks for the pointers. What are typical financing requirements like these days? And what's the advantage of purchasing several smaller apartment properties vs one large one?

@Steve Morris

I would probably narrow it down to 2-3 cities. But all good points. 

Could you elaborate on the 1031 Exchange point? Why would a broker want to drag it past the 45 day limit? Is it pure laziness or they're working multiple deals and figured that they've got you on the hook and so they'll leave your deal to the last minute or beyond? 

If approaching a local agent of a national chain, would that just help put me in touch with brokers in the cities I'm interested in? Or could there be some sort of arrangement whereby I agree to utilize the local broker to sell our properties after the broker in the other city finds a property we want to close on? 

@Charles Carillo I honestly hesitate to work with smaller brokers who don't usually get the larger properties only because I need someone with the right experience and knowledge to get me those deals. Might be a catch 22 because those brokers don't know me. I might try my luck at finding some that would be willing to work with us. And if not, then I think at that point we'd sell our current properties to have cash in hand. Like I said, capital gains wouldn't be significant. 

And I really like the idea of putting together a resume. Thanks!

@Jordan Moorhead That's helpful. Thanks. 

Hi all,

My family owns 2 properties (1 triplex and 1 mixed-use commercial property) in the Bay Area that we're wanting to sell in order to invest in multifamily commercial property (mostly thinking a large apartment complex, or several smaller ones) elsewhere. We're currently thinking Dallas, Austin, Atlanta, and/or Phoenix.

I'm not familiar with these markets, but I know that we want to get out of California as the laws are becoming so strict on landlords and I don't see it getting any better. In addition, we're wanting to focus on more cash flow markets and based on my research and what I've been hearing over the past few years, these cities seem to be solid bets. I'm wanting to follow David Green's suggestion of approaching brokers, interviewing them, narrowing it down to one broker per city, and then have them introduce me to their markets. Of course, I'm going to continue doing my own research and much more in depth, but I want to visit these cities and get on the ground information as well.

I'm trying to figure out what the best way to go about this would be. I understand that commercial brokers are tougher to approach and they don't take you seriously unless you have proof of funds. I obviously would prefer to do the research, meet the brokers, and see what kinds of properties they can provide me before we go ahead and sell. Ultimately, we're looking to make big purchases. The properties we own are fully paid off and are currently worth $5.5-$6 million. We're looking to use those funds as a 50% down payment(s). My intention isn't to brag, but these figures should mean something to a potential broker, enough to warrant them to work with us even though we haven't sold yet.

My questions are: 1. How do I best approach the best and most connected commercial brokers? 2. Should we sell before seriously beginning the buying search? Capital gains tax is not a real issue as these properties belonged to my father who passed away a year and a half ago, so we got a step up in basis.

Any thoughts would be helpful.

Hi all,

My family owns 2 properties (1 triplex and 1 mixed-use commercial property) in the Bay Area that we're wanting to sell in order to invest in multifamily commercial property (mostly thinking a large apartment complex, or several smaller ones) elsewhere. We're currently thinking Dallas, Austin, Atlanta, and/or Phoenix.

I'm not familiar with these markets, but I know that we want to get out of California as the laws are becoming so strict on landlords and I don't see it getting any better. In addition, we're wanting to focus on more cash flow markets and based on my research and what I've been hearing over the past few years, these cities seem to be solid bets. I'm wanting to follow David Green's suggestion of approaching brokers, interviewing them, narrowing it down to one broker per city, and then have them introduce me to their markets. Of course, I'm going to continue doing my own research and much more in depth, but I want to visit these cities and get on the ground information as well.

I'm trying to figure out what the best way to go about this would be. I understand that commercial brokers are tougher to approach and they don't take you seriously unless you have proof of funds. I obviously would prefer to do the research, meet the brokers, and see what kinds of properties they can provide me before we go ahead and sell. Ultimately, we're looking to make big purchases. The properties we own are fully paid off and are currently worth $5.5-$6 million. We're looking to use those funds as a 50% down payment(s). My intention isn't to brag, but these figures should mean something to a potential broker, enough to warrant them to work with us even though we haven't sold yet.

My questions are: 1. How do I best approach the best and most connected commercial brokers? 2. Should we sell before seriously beginning the buying search? Capital gains tax is not a real issue as these properties belonged to my father who passed away a year and a half ago, so we got a step up in basis.

Any thoughts would be helpful.

Hi all,

My family owns 2 properties (1 triplex and 1 mixed-use commercial property) in the Bay Area that we're wanting to sell in order to invest in multifamily commercial property (mostly thinking a large apartment complex, or several smaller ones) elsewhere. We're currently thinking Dallas, Austin, Atlanta, and/or Phoenix. 

I'm not familiar with these markets, but I know that we want to get out of California as the laws are becoming so strict on landlords and I don't see it getting any better. In addition, we're wanting to focus on more cash flow markets and based on my research and what I've been hearing over the past few years, these cities seem to be solid bets. I'm wanting to follow David Green's suggestion of approaching brokers, interviewing them, narrowing it down to one broker per city, and then have them introduce me to their markets. Of course, I'm going to continue doing my own research and much more in depth, but I want to visit these cities and get on the ground information as well. 

I'm trying to figure out what the best way to go about this would be. I understand that commercial brokers are tougher to approach and they don't take you seriously unless you have proof of funds. I obviously would prefer to do the research, meet the brokers, and see what kinds of properties they can provide me before we go ahead and sell. Ultimately, we're looking to make big purchases. The properties we own are fully paid off and are currently worth $5.5-$6 million. We're looking to use those funds as a 50% down payment(s). My intention isn't to brag, but these figures should mean something to a potential broker, enough to warrant them to work with us even though we haven't sold yet.

My questions are: 1. How do I best approach the best and most connected commercial brokers? 2. Should we sell before seriously beginning the buying search? Capital gains tax is not a real issue as these properties belonged to my father who passed away a year and a half ago, so we got a step up in basis. 

Any thoughts would be helpful.

Hi all. I own some property in Southern California and the Bay Area. I know that termites are very common in California. I spoke to a few termite inspectors and was told that properties should be fumigated once every 7-10 years, and up to 15 years if treated with material that remains and reduces termite infestation in the years after fumigation. Would love to hear some further opinions and feedback on this.

The reason I was told is that there's no way an inspector can see what's behind the walls and you might have colonies infesting for years without seeing any evidence of their existence. Basically the logic is that you'll won't ever have enough evidence to fumigate, even if termites are actually there. 

Furthermore, I've heard that if you're just going to do inspections, it should be more often than once every 10 years.