All Forum Posts by: Logan Hartle

Sorry to hear the brokers you are working with aren't open to creative financing. In my world it's pretty standard. As a broker, I do have the conversation very early that in order for me to go to work, the commission has to come from somewhere. Usually, addressing where the commission will come from can be worked out with relative ease however. 

90% seller financing would allow a buyer to put down 10%, giving the seller some cash to pay towards closing costs, broker fees, etc. If the plan is 100% seller financing, then your broker would have to either secure their commission from you or the seller outside of that. If neither are willing to do so, it can become a very unfruitful for the broker. 

I would just make sure to have the conversation early on that you are an experienced investor who has closed "x" number of deals in the area and a major strategy you implement is seller financing. Let the broker know that you fully intend on helping them get paid either from you or the seller, if they in turn help you secure great deals.

If you can't find a good broker in your area to help, you could contact an attorney to draft the offer for you and present it to the listing agent yourself. They would have an obligation to present that offer to the seller. 

Is anyone participating in a really good virtual commercial real estate mastermind?

It seems like the ideal model you are looking for is a syndication instead of a fund. Sponsor can pick a different asset every time if they like. Investors can say yes or no on a project by project basis.

Great stuff Cole! I'll have to take a look. 

Can confirm it's a great event!

Has anyone here invested into marinas? I think it would be a fun investment that I could see myself enjoying well throughout retirement. 

I don't see a lot of content out there surrounding these assets. 

@Daniel Haberkost I am a part of Aurelien’s meetup as well. It’s a fantastic group

I like Scott’s approach. Brokers work for commission and would prefer to be “in the deal” as opposed to pulling data for $.  A good broker should be more than happy to help out if you are up front and the expectation is that, if the seller will not compensate, you will. 

Hey Benjamin. If you find a good commercial broker, explain to them your growth plan & how they could be a part of it, they may help you run comps for free.

Otherwise check out recently sold vacant buildings in that area of your town. You should be able to find some of this through your county site, perhaps crexi, etc.

Also get a good understanding of lease rates for those types of buildings and if they are triple net, double net, gross leases, etc. 

From there, understand what different types of leases/tenants will command what cap rates on a sale for this asset type. (Absolute NNN national household name with 15 yr lease with rent bumps vs gross lease with local company will generate wildly different sales prices)

ultimately I believe making good friends with a broker makes sense.

I always find it so interesting that in the world of real estate investing there are so many ways to make money.

I personally focus on the industrial world because my background is in manufacturing and distribution. I also love the scalability.

What do you focus on and why?