All Forum Posts by: Matthew Wright

@Nick Elg Thank you! Quality pointers.

Meeting with owners of off market 10 unit property. This will be my largest rental property and first commercial loan. What is the most important thing to get from sellers so I can properly analyze the deal? I will get financials and rent roll, so that I can come up with offer that works, but what else would be good to keep in mind? Furthermore what is a good tool to determine value for multifamily?

Whats is the best course of action when wanting to inquire about buying property owned by the town or school department? One would think its as simple as going to town hall but theres so many layers of staff and local government where I am. What would it typically take to get thru to right individual to get an answer?  If its an old school house would it be school dept or town manager?

Would it be difficult to owner finance land and build complex on it with private/hard money/ bridge and then refi out land owner? Im sure its possible but unsure if it would be difficult because 1st position 2nd position etc... feedback appreciated 

@Brian Ploszay @Russell Brazil Thanks for feedback. Given that buy side doesn't get compensated then I will definitely just go direct to seller broker. The property is not on MLS and this broker doesn't use MLS with his properties, he's exclusively commercial, and this is why I was feeling it would be best not to go down the realtor road.

I’m looking for opinions regarding my scenario. I’m a realtor and can make my own offers and represent myself in certain transactions to save on commission, which I would typically do for residential transactions (fix and flips or 4units and under). However I’m looking at current commercial mixed use property and I’m inclined to just go direct to the commercial listing broker and opt out of trying to capture buy side commission, mostly so that I can have advantage with broker wanting to close deal due to him getting both sides of commission and more importantly I usually deal with residential transactions and I’m not really experienced in commercial brokerage. So, assuming I go direct to seller agent, what should I keep in mind and look out for in a commercial property. I’m obviously going to get rent rolls and P&L, but looking for the not so obvious stuff. 

@Dave Foster Thanks for the breakdown. Well put!

@Jaysen Medhurst Thats helpful. Im a W-2 employee so nothing crazy typically in terms of capital gains, mostly just rental income. I do plan to stay invested in RE for the long term. Ill check with my accountant regardless. And if thats true about the 77k then I would say I wont bother.  Thanks for the feedback.

Is it worth doing a 1031, if youre talking about 80k gain? I have a single family rental property ill be selling. It would be my first 1031. Are the fees and everything worth the tax benefits when talking about this amount of money?

Thanks!