Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Richard B.

Richard B. has started 2 posts and replied 62 times.

Post: Absolute NNN with 9.5% Cap - How is it on the market?

Richard B.Posted
  • Rental Property Investor
  • Nyc, NY
  • Posts 62
  • Votes 26

@Spencer Carpenter. The office market is spotty. Some areas have very high vacancies and difficult to rent. The rent could also be above market and not replaceable. Check it out and see!

Post: Meet Up for Industrial, Office, Retail

Richard B.Posted
  • Rental Property Investor
  • Nyc, NY
  • Posts 62
  • Votes 26

@Logan Hartle. Pls Let me know about the next meeting!

Post: Is NO DEAL better than a BAD DEAL?

Richard B.Posted
  • Rental Property Investor
  • Nyc, NY
  • Posts 62
  • Votes 26
Negotiate with the seller by discussing the needed repairs to come to a fair compromise to make the bad deal a fair deal.

Post: Ten-X Platform Reviews?

Richard B.Posted
  • Rental Property Investor
  • Nyc, NY
  • Posts 62
  • Votes 26
I’ve used it. Works well. The data available under due diligence section is often very thorough and helpful. I haven’t bought anything but have placed bids on multiple properties and understand the process. No issues with the bidding mechanics. The iPhone app is quite good.

Post: Backing out after going under contract

Richard B.Posted
  • Rental Property Investor
  • Nyc, NY
  • Posts 62
  • Votes 26
If you don’t know off the top of your head (you really should make notes of key dates for end of due diligence and closing). Find out how many days you have to back out of the deal during DD without a penalty. Your lawyer can help you. You can then do your investigation and if you want to proceed try to get the seller to reduce the price based on your findings. Good luck.

Post: Newbie from New Jersey! Hmm Which market should I target???

Richard B.Posted
  • Rental Property Investor
  • Nyc, NY
  • Posts 62
  • Votes 26
Id recommend you look in areas you can drive to that also produce good cash flow. For example parts of South Jersey, Phila, Allentown and CT

Post: Industrial Building Beginner / need opinions on deal

Richard B.Posted
  • Rental Property Investor
  • Nyc, NY
  • Posts 62
  • Votes 26
this seems a very good deal and getting the higher rent ... well that makes it a great deal. Good financing. Congrats. I’d close the deal and then decide whether to handle it myself. Trying to build a strong broker relationship is important. You might need him later to rent the space or he will find you the next deal. If it’s simple as you say you might try to negotiate the fee down - maybe a flat fee. It can be a win-win.

Post: Cash in your investment accounts

Richard B.Posted
  • Rental Property Investor
  • Nyc, NY
  • Posts 62
  • Votes 26
If the PITI are as low as the $1000/month example add $5000 extra on top making it $10k.

Post: Cash in your investment accounts

Richard B.Posted
  • Rental Property Investor
  • Nyc, NY
  • Posts 62
  • Votes 26
Great topic. 4 months of my mortgage payment, insurance and taxes on seems to work for me. I add extra for upcoming cap-ex.

Post: Would you buy a property without viewing in-person?

Richard B.Posted
  • Rental Property Investor
  • Nyc, NY
  • Posts 62
  • Votes 26
Adam Butt the time to quality deals priced well.