All Forum Posts by: Priyanshu Adathakkar

Hi Louis, I am a commercial agent and you can call me at any time. I am licensed in Ohio but I'll be happy to hook you up with another agent in any state of your choice who will be happy to work with you. Thanks Pri

@Christopher Phillips is right, the QI needs to receive the funds from the sale, if they are issued to you there is no 1031. 

There is a strong move to get rid of 1031 exchanges or at the least limit it to $1 M, the National Association of Realtors has been lobbying hard to keep it in place as is. There are other industry groups that are also fighting this change. The outcome of these efforts is unpredictable at this time but yes, there is a distinct possibility that 1031 exchanges may be on their way out.

Use a national company that is publicly traded any other choice is always froth with peril.

Hi Remo, It depends on how your financing deal was structured but it is not unusual, plus it could be a good thing when you go to refinance.

Hi Brad, I have a premium account and yes it gives me access nationwide. LoopNet, CityFeet and CoStar are all the same company and draw from the same database. And yes I have auto searches set up there, I pay only $90/month for the premium account.

Yes, always take help of a professional especially if you are a buyer, it does not cost you anything so why not?

Be cautious, a lot of residential agents who have no experience in commercial real estate like to try their hand at commercial. Sometimes they do a disservice to the client, in Ohio at least we have a competency rule which means if you do not have experience in a particular property type or market you need to partner with somebody who does or refer it out. 

From what you are saying it looks like they are getting about $12 & change per SF and the CAP rate is around 9.5 which is not bad. Does it take all expenses like 5% vacancy, punch out costs etc into account? Do the 3 year tax returns support these numbers? Are the tenants long term or year to year? Depending on answers to this and other factors you can determine if it is a good deal. Honestly it sounds too good to be true!

Hi Kevin, It'll depend on how long the lease is, the terms (NNN, Gross, FSG) and what the rent is, depending on the CAP rate it could be a good 1031 offering.

While coin operated laundry is a good value add for a larger apartment complex, if you are looking at office properties, creation of a space for a cafeteria is always a big hit.