All Forum Posts by: Shawn Long

 Also need to know details about what your exit goal is?

@Caroline Gerardo YES!

Investment Info:

Office Space commercial investment investment.

My partner & I have acquired the tallest building in Madison County, Indiana. Now known as Anderson Executive Tower. We continue to adapt and blaze trails with ideas that have been around but have yet to come to Anderson. We are developing condos, restaurants, doing a mix a long term and short term office space as well as virtual offices. If you ever need a place to work in the Greater Indianapolis area shoot me a message. Special treatment for the BP family.

What made you interested in investing in this type of deal?

Keen market awareness. The deal was too good to pass up and God put the perfect people in my life to make it successful.

How did you find this deal and how did you negotiate it?

My partner actually found this deal with a list of accompanied headaches. Everyone was scared of the potential risks. Fast forward a few months later & the risk has been alleviated. The unsolicited offers seem to be coming in daily now. The network building around this project has been phenomenal! We already have our sights on the next project!

How did you finance this deal?

CASH IS KING!

How did you add value to the deal?

Light rehab, Strong and Creative management, Leverage of resources and relationships.

What was the outcome?

Filling up quickly. Bright future ahead.

Lessons learned? Challenges?

Anything is possible. If you don't ask the answer is always no. The small risk we tackled seemed SO Big to everyone else. A small amount of work and the price value has increased exponentially! If you want certainty, it will most certainly cost you.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I am the Broker. Highly recommended ;)

If you are concerned about your ownership I would say put it in a trust. The trust should be able to list it as the primary residence. If your son decides to damage the property or not hold up his end of the agreement you set in place than it will revert back to you. You would be the beneficiary. He would be the trustee. The main point in this type of trust is secrecy. As the beneficiary your information would not be public or disclosed. Double check with an attorney just to be sure. If you need a good attorney referral I can help you out. 

@Jonathan Vese AirBnb and VRBO are the same tstrategy just different platforms like eBay vs Amazon

@Jonathan Vese Check out AirDna it will give you all the info you need. I think TN is a really hot market for this right now

@Jim K. That is smart. Thanks for sharing

I am a RE Broker. I have a client that is willing to provide the building. 70K sq. ft. Skyscraper if you will. I have several investors and the trust of everyone involved. It makes sense for everyone to share the load via a syndication. I know I need a good attorney and I am buying books and watching podcasts. But I can't educate myself fast enough. The train has started rolling. Its a commercial building that the city would like to see converted into residential units. We may keep a couple floors as commercial space. What are some red flags I need to keep an eye out for while I'm educating myself? What are the next steps to putting the deal together at this point? Anyone willing to share a phone call and help a guy out?

@Eloise Garcia in Indiana no one can be paid as a percentage of your commission (lenders, title, etc.) Additionally no one can receive a referral fee that does not have a real estate license