All Forum Posts by: Sam B.

@Jeffrey Muth Jr

Any thoughts on selling? Make it as aesthetically pleasing as possible (clean it up, paint etc) and then sell it as a value add project for someone else.

@Karla Torres

Still sounds low. I don’t know where you are, but where I live gross expenses are 5-6$ per square foot. If I take what you’ve given, 18k in expenses for 12k sq feet that’s $1.5 psf. Happy to discuss offline if interested, shoot me a DM.

@Karla Torres

Sounds interesting. Are you sure the expenses are only 6k? Or are those non reimbursable expenses?

@Nicholas LaRocca

Maybe if you had a tenant ready to move in before purchasing the property. That could be be a way to reduce the risk.

@John B.

Why not give him the MTM but say he needs to give 3 months notice? Maybe also take back his security deposit as part of the deal(assuming there is one)?

@Joe Fauntleroy

Hi Joe, congrats on the progress you’ve made so far with this property.

I bought my first commercial property 6 months ago, and I too struggle trying to act like I know what I am talking about with lawyers, contractors, city officials, etc... it’s just a steep learning curve. I try to research the most I can online before asking questions. I have also found that it’s best to deal with guys you trust, focused on the long term relationship, and are willing to explain things.

@Tom Nguyen

I would get more offers or negotiate with them

@Mike Meerschaert

Def one of the most inspiring books on CRE for me has been The Contrarians Playbook - Manny Khoshbin

@Torrey Benson

I recently did my cost seg and didn’t run into any problems. So far.

One surprise with the cost seg firms is they are willing to negotiate. I was surprised about that.

@Bennet Sebastian

Old fashioned cold calling and mailers in commercial properties you have in an area you like might work.