All Forum Posts by: Account Closed

I just looked at the tool on this site. It appears to be produced by RealestateCritic.

Not too complex and some interesting analysis if you produce reports.

At the same time it seems to have a pretty static sense of a deal. Hence I do not see a way to input a purchase price that is below FMV. When the projects are done the appreciation started from the purchase price and not the likely market value.

I have checked the FAQ and other help details. As the tool is free I am not expecting all the bells and whistles. At the same time I sort of figured it would be common for an investor to buy a deal (discounted price).

Any comments from anyone?

John Corey

PS. If there is a great tool out there that people use (free or otherwise) I would not mind hearing about it.

I was asked what countries.

France, Ireland, UK, Spain, Italy, Czech Republic, Germany, Slovakia, Switzerland, Poland and a few other places.

Different locations by different people for different reasons.

John Corey

To all,

If you are considering starting with commercial investing or are already started consider Ray Alcorn's Dealmakers Guide to Commercial Real Estate.

Here is a brief write up on the guide:

Ray rarely speaks publicly but if you do get the chance to meet him you will be bowled over with his knowledge and interest in helping others.

I am an owner of the guide and have spent time with Ray over the last 2-3 years (we both attend the Lenders Workshop where I moderate the evening and he is one of the panel reviewing the deals presented by the attendees).

I have no stake in Ray's course or in his business. This is purely me sharing what I think is a great guide for anyone investing in commercial property. You can see commentary from other investors in the forum.

Email me (best) or send a PM and I can provide you the URL for the website hosting the commercial forum and where the manual is offered. It is the oldest RE website on the net with a large, active community.

Again, my only connection is to know some of the people who participate in the discussions and I paid real money to buy the manual. Call it 'passing it on' as this truly is free advice with no strings.

John Corey

What do you want to discuss? I and my friends invest in multiple countries.

How about describing your expected focus and we can pick up the discussion from there?

John Corey

Keith,

I am curious if you purchased anything in Dayton by this point.

I am looking at a portfolio there. I know the seller rather well as I arranged the financing when he built the portfolio.

I expect to use a property manager given I am out of state.

John Corey

Great reply.

You need current income and lump sums from flips is not a bad idea. More so when you get a lead on a great deal but not a property that will ever make a good rental. I had a home once that when we moved for a job relocation there was no way it would rent well. It was a diamond for wealthy owners so we sold for a very large profit and picked up two other properties that made better rentals. (sold one 1-bed live/work loft and purchased one 1-bed and one 2-bed condo in the same area).

For the most part I am a buy and hold investor. Once you get the properties set up you do not need to reinvent the process every month like you do with flips.

So, do both and use flips to provide the lump sums needed to fund the long term portfolio.

John Corey

There are a number of existing groups. East Bay, north bay - multiple locations, SF proper, San Jose, and other locations on the way to Sacramento.

Starting a new group might be fine. Or it might be better to check out the other groups first.

If anyone wanted to start/join a virtual group (online, no physical meetings) I would be interested. I travel a lot but started my investing in the Bay Area. Granted this board mighit be such a virtual group.

John Corey

The group is an older one with a large membership. It has gone through some changes recently but they still have a good group with month meeting.

Go to the URL in the subject line.

I have invested in the metro area for a number of years. If you have specific questions or need referrals to lawyers, etc let me know.

John Corey

Ed,

Qualification process for what?

Assume the LLC is set up. You are talking to a new potential member. What are you trying to explain? Forget the TIN for a minute as it largely has no connection from what I can tell.

Note that I have an LLC with a TIN so I know the topic. I just do not understand your question.

John Corey

Beachbum,

Thanks for the reply. ':clap:'

I do look for PMs who are not also selling as a commission check is certainly going to divert one's attention compared to the PM fee for a month.

John Corey