All Forum Posts by: Seth Parmelee

@Abdul King apartments around military bases or colleges I’d think would be good ones?

@Chris Martin don’t forget the box at the end that asks if sellers owned property for year, less than year, or will own it prior to sale. Sounds like wholesaling is legal to me. I just don’t know how to do it

@Jay Hinrichs haha we have two islands for sale off the coast of N.C. currently. One even comes with a mainland lot so you could supposedly build a dock to ferry over. Lol

@Matt Berklacy we can do dual agency in N.C. but the issue then becomes we are a go between and can not provide any help negotiating because we have a fiduciary responsibility to both parties.

well I would treat anything under 5 units the same as residential. anything over 5-20 is def commercial. That's basically when to use LOI and when to use an offer to purchase to go under contract. Too bad you aren't closer to NC I'd love to help ya out. Though honestly with commercial I would get hooked up with a broker that way you don't get screwed by something you don't know.

No it is right. You gotta remember that the cap rate is a ratio between purchase price and NOI. So you change one of the numbers and something else has to change. The higher the cap rate the closer the NOI and purchase price will be. So when you went from a 9 cap to a 7 cap that distance grew.

@David Ribardo god. Don’t remind me of that place.

Oh my god. When in doubt, shoot a scout. Sorry was a fister had to say that or I lose my fist card. Lots of us here man.

Hey I’m a broker on the coast of N.C. and I’m trying to get some tips on where to look to network with developers. We have numerous tracks of waterfront land that could be used for lucrative developments but I don’t know where to turn to talk to anyone about developing them. Anything would be appreciated! Thanks Seth

@Kwame Knights my experience for commercial is it always starts with LOI. As an agent for commercial that is kind of the offer