All Forum Posts by: Account Closed

Thanks for your reply. I start looking. :D

I hold two notes for commercial properties. I sold them doing owner financing.(I don't want to sell the Note, I don't like the idea) What I want to do is find a property that I like and trade my income stream out right for the property. My question is can this be done?

Thanks

I own two commercial properties. One I've owned for 24 months and out of the 24 month I have owned one of them has been vacant for 18 months. I'm lucky I own it free & clear.

I'm just looking for different options to present to a seller.
just trying to be creative.

Thanks John, just to clear something else up you mentioned, "when you state offer the existing properties as collateral for a new loan", would that apply to a bank or also a owner of a property that was selling Owner financing. What I want to do is buy a owner finance property from someone using this cross collateralization.

Hope I did not confuse you.
Thanks

I own two commercial properties free & clear of mortgages (Office warehouses) (Both are leased out) My question is has anyone ever used there paid off properties as collateral to buy other properties. If so what would be ways to structure the properties as collateral.

I accepted a late rent but I served the tenant a "Right of Reservation Letter", that means I will accept the late rent but reserve my right to evict. That's the law in Virginia at least the way I understand it. I'll find out for sure on May 21. That's my court date.

Well the Results are in. The Insurance that I had just signed up for a week before the A/C thefts pick up the replacement cost less the $500.00 deductible. I'm happy. :D

Thanks for all the valuable information. Even though theses A/C units are behind a fence we now are considering installing a cage fence, plus a flood light and moving the entry door where it's more visible. The claim is in with the insurance company and my broker does not think they will pay off. We did find an A/C guy whom one of the owners of the building knows who gave us a good quote of $2100.00 per unit. If he can get the order in before the new regulations take affect in the next week or so. The A/C guy gave me the low down of what needs to be done including replacing the interior element as was out lined on the message board earlier. The A/C guy also stated the thieves won't make but a $100.00 bucks or so from the copper the stole.

This property is an Office warehouse. (Eight units.) Three of the eight units are currently vacant. I've been told now that this crime is on the rise in our area. I guess the black market for these item are strong. The units are behind a fence and under a street light.