All Forum Posts by: Shawn Fyffe

Hey everyone, I’m new to the Real Estate Development scene and before I go for this development deal, I want to know what I’m going to see when the deal is in progress.

I would give some examples however I’m am surprisingly oblivious as to what goes on behind the scenes of a RE Dev Sale.

Thanks,

-SF

Hey All,

To preface this post, I would like tot say that I am still fairly new to the real estate scene and all of its nuances; so, please excuse my ignorance.

When scouting for a new multi family apartment building, I noticed a transaction fee of some percent.

It’s always either 1% or 5% - on TenX Commercial - with another number in parentheses. I.e., this multi family apartment complex is taking the best offer, and they have a transaction fee of 1% ($37.5k) listed.

Does this then mean that if they don’t receive a bid of $3.75mil or more, than they won’t sell? (As 1% of $3.75mil is $37.5k)

The transaction period as a whole seems staggering at first but I’m eager to chip away at that notion, bit by bit.

- SF

This sounds like it would be an indispensable learning opportunity

When will this meet up be?

I am trying to build a city, and when I recently tried to acquire a permit to build on a piece of land in the US, I was told to talk to a realtor, however my project would’ve taken place over several plots of land.

Money is not really an object but the way I am trying to go about buying the land is confusing to say the least.

Would I go and buy all the plots that are going to be affected by this project, because in doing so it would invariably create little pockets of land that still belong to the government - or would it?

I’ve even began to wonder if eminent domain would be suitable however I don’t know the legality behind that, and if that’s even available for use in the private sector.

If anyone can help that’d be greatly appreciated

- SRF