All Forum Posts by: Peter Martin

Thank you all for the information!  Certainly much more to think about then I had anticipated, but well founded! 

@Todd Dexheimer - that is a nice 'simple' way to organize how to ask those questions!  Thank you.

I have a person that needs help with down payments for a commercial property. That's all I know at the moment. What are questions I need to ask to find out if this is a worthwhile deal?

I can think of current rent rolls, rehab needed, occupancy rate, number of units, current value, current cap rate, current income/expenses.

I'm a beginner here doing some gap funding currently and looking for SFR to flip, but want to get into commercial too.

Like the subject says, I'm looking for a real estate attorney in the Palm Coast FL area. I would like someone that has a local office for closings. I'm a flipper working with a bird dog to find my properties so contracts are written to be assignable. Also I'll be using HML and gap funders to finance the deals.

Been looking/analyzing 2-5unit properties in that area and wondering what general guidelines there might be for gross rent multiplier and cap rate that would be considered normal, if there is such a thing! I'm a newbie and don't have anything yet and won't be going alone at it either. I may have a couple of others interested and we would also need to form an LLC, so any tips/hints there would be appreciated.

Thanks in advance!

Pete

Hello Christopher, Ryan, John, Michael! 

Thanks for the welcome! I'm doing a ton of reading while keeping an eye on small 2/3/4 unit places.  Some are a bit scary! Some look quite interesting but I do have to run the numbers thru the calculator on here and also figure out if I can handle vacancies.

And Ryan, will definitely look you up when I get up there!

Pete

While I had done some RE back in Seattle MANY years ago, I finally decided to again join the RE crowd as I near retirement. Just tired of the 'office 9-5'. Looking for something to start that's low cost as we're starting to build our 'final' adobe and there will not be much if any money left over! Definitely willing to get dirty on any remodels/fixers.  Currently in FL but ultimate destination is Knoxville TN area.

Currently working in IT as a performance test engineer for a major insurance operation in FL.