All Forum Posts by: Neo G. Wang

Hi everyone! 

I just have a quick question regarding a mixed-use property of mine. My current tenant for a small restaurant wants to break the lease and leave. So I found a commercial real estate broker and I signed an agreement with him to find a new tenant and agreed to pay him commission if he finds one. However, within a couple of weeks, my current tenant find me the new tenants and I am about the sign the lease with them. Am I still legally obliged to pay this broker? Thanks in advance.

Hi! I've been self-managing a couple of multi-family properties in Waterbury CT. Was wondering if anyone knows any good handyman/plumber to recommend. Someone who is reliable and has experience in dealing with household issues. Thanks a lot in advance! 

@Marcony Simoes I'm driving up there this Saturday. Let me know if you're around for a quick coffee. Thanks!

@Erica Redcross sorry about the late reply. I will probably just buy and hold. The previous owner has already done some upgrade on it and the commercial lease seems strong. 
Will keep everyone posted about the progress!

Hi everyone! I recently entered a contract for a mixed-use property in Waterbury CT. It consists of a grocery store, a small restaurant, a section-8 apartment, and a normal residential unit. It is located in a C neighborhood, and the Cap rate is about 13.1% and CoC 25.6%.

I started to actively search for small commercial/multi-family property back in May. This one was actually the first one I saw. I sent in an offer but the listing broker said someone else sent in a cash offer and the seller accepted. So I moved on and looked for other places. Fast forward one month, the same broker called me up and told me the other buyer did not follow through. Long story short, I entered the contract in July. I also set up an LLC and work with a local bank to get a commercial loan. During the inspection period, I found some issue and was able to negotiate a cash-back at close. Now we are waiting for the bank appraisal.

Would love to share my first experience here and connect with local investors and bounce ideas around. 

P.S. I am also looking for other deals in CT. Currently I am looking at New Britain, Waterbury, and Meriden. 

Hi everyone! I recently entered a contract for a mixed-use property in Waterbury. The number looks great (about 13% cap and 25% COC) but I am having cold feet now considering the great risks getting into an illiquid market in C neighborhood with high turnover rate of the tenants. Would love to share the details with more experienced investors and bounce ideas around (I am a newbie). Thanks!