All Forum Posts by: Robert Jenkins

For me if...no no WHEN i become successful i'd like to:

Fight: I'm an amature MMA fighter and I don't get to train a lot cause i work so much

Learn: Stocks, Hedgefunds, IPO's, REITS

Camp: i love the mountains and the wilderness and the smokey smell of the campfire on your clothes the next morning.

Give my girlfriend the life of her dreams and raise some hellspawns (aka kids)

Hi!

I know a lot of young people come to these things asking how do I make a million dollars and not lift a finger?

Well i'm 22, i've been on my own since 16, i don't come from a background of money and i work very very hard. I'm currently a commercial agent, ex residential agent and i'm looking to network. I'm not one of those guys who expect people to throw money at him by asking over a forum, but i do absolutely want to to drain you veterans of your infinite knowledge.

Any body live in LA or San Fernando Valley who knows some good networking events or investment clubs that focus heavily on COMMERCIAL. I know the workings of retail and i'm good at analyzing deals and selling. I just can't find any groups that focus on commercial with private money that is willing to get involved.

I've started to get involved in the chamber of commerce, target networking (aka sucking up to doctors and lawyer and rich dudes but to be honest its hard for me to relate). I just really need to find groups that have like minded people, all on the same page as me and place to find opportunity.

:mrgreen:

Could have posted in the commercial section, but i just can't find anything pertaining to my end of the business. Everyone seems either into SFR or Apartments.

All the posts with "retail" are 12 months + old in the titles.

So any of you know a key guy on the subject in this forum so i can get involved in his discussions? Or am i just missing something and it's right in front of me?

think i forgot to say the owner is IO and this is all speculative of course. Don't be afraid to negotiate and walk away if you don't get what you want.

Dang. 1 Pretty girl posts and my Hello gets ignored.... =(

Glad you're from LA or atleast orange with the 909. How are you looking to get involved in RE?

Usually yes, but we do deal with institutions.

When an owner is wiling to carry DON'T HESITATE to ask her to get creative. Pay interest only for 5 years amortized over 25 and make it due at the end of the 5. When the owner carries anything is possible to make the property cashflow.

But being a commercial retail agent the numbers are a little like this. If you were to get more conventional financing at todays current rates.

Rent is (avg): $1.23sq/ft
NOI: $59,040
Depending on leases your expenses are: 52,813 (for debt service, taxes, ins)

Adding in a 5% vacancy factor: You Net proceeds $3,275 a year or $272.92 a month.

BUT I REPEAT if the seller is willing to carry and can get creative there is a reall opportunity to cash flow and get a start in scenarios like this and they are usually flexible in price i see it all the time.

FOR EXAMPLE:
purchase price:600,000
Loan Amount: 500,000
owner carries: 250,000k @ 7%
Traditional finance: 250,000k @ 6.25%
Since a lot of these leases you say are coming due and their rents are low get them on NNN leases. That cuts out ALL the CAM, taxes, ins expenses and you just pay mortgage. This is all based on what youv'e said though i'm not an area expert.

So your total expenses will be around 37-38k and your income will be around 58,800 at current rents (should stay low if you put them on NNN) so you're cash flowing around 21k a year.

Not to say this will happen and i know it's speculation. All i'm trying to address is when the owner is willing to carry GET IMAGINATIVE especially depending on the scenario. I work with buyers who see things one way all the time and we always have to get creative and figure out how the deals make sense for everyone.

I'm a retail/office agent in los angeles. Seems around here apartments are tough and the good ones are few and far between. I'm not an investor (yet) but when i do jump in it will be the retail sector. Why do most people gravitate towards Apartments? Like i said i don't deal in apartments so i'm not familiar with the pros and cons. I imagine it's much more demanding on the landlord since the tenant is always at their home. Unlike retail where the tenant is only there for work hours so the wear and tear is not as bad and they don't notice the small things when they aren't there all the time.

So i've been to creonline, reiclubs.com, called some of the sponsors and haven't found anything that is interesting. Most groups are residential investment groups with a few commercial guys, but they require money up front to join and i'm not paying for something i don't want to get involved with or isn't as much use to me.

I want to know if there are any groups around the san fernando valley or LA area that are heavily commercial based or atleast free to attend and get to know the members before i have fork over year subscriptions. Do any of you have experience with these groups and maybe they have sponorship programs or guest invitations.

get a job in real estate.

I work commercial real estate. i get introuble if i'm not talking real estate all day every day.