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All Forum Posts by: Sam B.

Sam B. has started 8 posts and replied 103 times.

Post: Cold call list software

Sam B.Posted
  • Posts 106
  • Votes 32

@BJ Rollinson. I love the data it has, but hate the price

Hi guys, I am going to make an offer on an office property that is currently bank owned. Any tips in terms of seller motivations that are different with banks than dealing with a normal sales process?

Bank that owns the property is a public company, but smaller in size.

Thanks

@John Green. I do. I usually put in 10% on the rents. If you want to be more conservative do 10% on rents plus vacant expenses. When I look at valuation, I also embed a deduction for structural reserve.

@Greg Dickerson. Thanks! Why are there no wholesalers in CRE? I would have thought bigger profits incentivize them

@George Frye. If you are putting no money and it’s your first deal then I would take only a very small management fee and performance fee (after sale profits). Build up your credibility and then go for a big deal with better terms for you!

@Greg Dickerson. What do you mean by follow up? Like call multiple times till they accept your offer? Or just keep reaching out so when they are ready to sell they come back to you?

@Corey Martin. The seller would be responsible to continue to pay the mortgage. If the seller doesn’t pay I believe it would be foreclosed and seller would be on the hook (assuming there’s a personal guarantee).

If the master lease agreement is structured right the buyer of the lease option may structure the agreement in a way that requires verification or a third party to see that the mortgage and liabilities are being paid on time

@Corey Martin. If I am thinking about your post correctly, the solution would be to do a master lease agreement. It’s effectively a purchase option.

The new buyer will make lease payments to the seller for whatever determined time period. The seller will in turn pay the mortgage. The buyer technically owns the property through equitable title.

Lots of videos on your tube

@Chuong Huynh. I know the company and have met management before. It’s a good quality publicly traded triple net company.

@Chuong Huynh. I do and have historically. Reits are interesting right here as they trade at implies cap rates which are in excess of the physical market. The downside is that you don’t benefit from the tax shelters you get from owning the physical.. you also don’t have control of the properties