All Forum Posts by: Michael A.

 100% agree with parking your cash in a money market in the meantime. 

Any details on the deal you can share? Feel free to send me a message. I'm not a deep-pocketed investor, but I am always looking to network and learn. Can't find opportunities if you don't seek them out. 

 Totally agree with this. When starting out, especially with just your own money, you can't afford to make a bad purchase. Also agree with other posters that you really must define what your goals are.

When starting I was investing for income generation, with appreciation being a fringe benefit. After my first rental appreciated a bit I saw how powerful that could be for wealth creation. Now I look for a mix of both. Happy to shoot the breeze if you ever want to message me. I don't have anything to sell you - I'm just another dude looking to network.

@Michael K Gallagher Thats’s awesome Michael, thanks for the offer. This deal is a bit interesting because the terms have been established by the current owner and look fairly favorable, but I don’t have a lease drawn up yet. I know the agreed upon terms, but do not know whether or not they will have signed that lease already or will look to me to write one with those same terms. Either way I’ll shoot you a message with some info. Thank you!

Hello there. I’m looking into my first possible commercial deal. Owner financing is on the table, but they’d like to hear terms. An absolute triple net lease will be signed at closing. The deal looks appealing to me but I’d benefit greatly from some advice from a seasoned commercial investor. I’d appreciate being able to message or email. Thanks so much in advance to anyone willing!

Michael

@Johnny Potts Sounds like my first experience which was awful. Moved in tenants who were recently married with 3 kids, stopped paying after 2 months, guy walked out, and then all payments stopped for good because she didn’t make enough to cover rent anyway, let alone with sole responsibility for 3 kids now. This happened a month before the national eviction ban so I was completely stuck. And they would not leave, which I suppose the parent and survivor in me at least understands (although I was obviously extremely frustrated). All I wanted was my house back. I had to cover bills for a year. All I’m saying is that when a tenant who you feel strongly will be an issue asks to leave I would let them as long as you think you can have a clean exit. That’s not to say you should be a pushover. If it is a chronic problem and people are constantly asking to leave there may be an issue with your property. respect the terms of their lease.

@Stone Jin Great insight here so far. I sent you a message re: OOS investing advice if you don’t mind sharing a few tips.

@Tom Hacku Awesome, thanks for the insight. Going to reach out to them! Might pick your brain about tour LLC strategy sometime. Always looking to learn.

@Tom Hacku Been wondering/thinking about the same thing. Are they helpful with informing you about all of the deductions you're able to claim as an investor, etc? I also have a real estate-focused LLC that is essentially an unprofitable startup. I have minor expenses for it and could certainly use some good direction from an accountant, just never really found one that is proactive with real estate investors.

@Kim Warren-Page I can’t get over how heavy the cash flow on this $150k deal is. This sounds like an excellent buy - keep us posted!