All Forum Posts by: Neal Bratton

@Dj Salisbury

1. Define your criteria (size, location, $$$)
2. Figure out financing (cash, mortgage, winning lottery numbers)
3. Find a good agent (preferably one that invests or works with other investors)
4. Educate yourself on Bigger Pockets
5. Put an offer in (Action is the key to it all)

Hope you nail it!

With a long term fixed interest rates as low as they are now, I think that's exactly what you should do. That heloc will be more useful for another acquisition.

Cesar, I really can't speak at all to the market in that area...but to me the bottom line is you are either a cash flow investor on a speculative investor. Sounds like you have some decent appreciation already but you still can't cash flow. You probably won't be getting too much equity paydown with your new financing over the next few years. I would be very inclined to cash out and look for another deal where you can add some value and get some cashflow. (if that's what you're after) You could ride the wave a little higher, but when it crashes down, you will be upside down. (and yes I did mean to rhyme) Hope it works out.

Congratulations @Oriana Rochaon all of that! Looks like you have a lot of things going for you. Are you planning to be an investor, an agent, or both? I would definitely check out the Agent Guide

https://www.biggerpockets.com/renewsblog/2015/12/04/how-to-become-a-real-estate-agent/

It has tons of information and related blog articles that speak to agents and investors. Spend some time on this site, but don't let it stop you from going out and getting it done.

Best of luck to you.

Nice job @Levi T.. Aprox how many deals did it take?

I was looking into a office building around Lebanon Pike & Briley pkwy. It is approximately 23,000 sq. ft. I don't know much of anything about commercial real estate in the area. Can anyone give me a ball park of what Cap rates are right now for similar property or a range of price per sq. ft.? Any help would be great.

Thanks,

Welcome to the site. It is a must have resource for new investors. I do believe you picked a great avenue for supplementing retirement income.

Congrats! Pulling the trigger is the hardest step. She "took the kitchen and A/C". lol...some people.

Sounds good I will definitely try and be there.  

@Clint Morgan Other than the roof, it sounds like most of that is going to be some common things you have to take care of when you acquire a new property. Those are just cost associated with having rentals. Hopefully once you get some of that taken care of it won't need attention for a while, but other repairs and maintenance will have to be taken care of for as long as you own it. Hopefully you budgeted some for normal maintenance expenses and eventually turnover costs. And yes $ for $ it will take you several rent checks to cover those costs, but just add that to your upfront costs and re-calculate your cash on cash as if it was part of the purchase price. That should make you feel a little better about it. Congrats on getting the property though. Hope it all works for you in the long run.

Neal