All Forum Posts by: Fred H.

Pat,

I own two commercial storefronts and the approach I have taken is that I will take care of upgrading systems - new furnace/AC and updated electrical panel but leave the build out up to the tenant. I have given a rent credit in the past but stop short of putting in new fixtures, walls, ceiling, etc.

My thought is that my business is real estate and their business is whatever (small grocer and resale shops in my case) and if they aren't confident enough to make the required investment in their business then how can I feel confident as their landlord.

Since I am a member of my local board I have access to and see the bank owned properties on the MLS. Have been tracking for several years but they really don't seem to be deals now. The supply also seems to be dwindling. Will try the homepath site.

-fred

would like to skip the wholesalers and buy directly from the banks. I've checked a few regional bank websites and have found at least two to be out of date. Has anyone had luck purchasing one or two at a time from a bank?

Hello,

Just joined Bigger Pockets last week after having been a regular podcast listener for several months. I'm not new to REI but have been out of the game for quite a while. My background is in low-income housing and community development working mostly for nonprofits as a single family project manager but I've been working side deals for myself for over the past 12 or so years. I did my first buy and hold in the late 90's using a cash advance on a credit card - I heard someone on the podcast mentioning they did that too. My cousins were contractors so with my credit and their strong backs we were able to get the property in appraisal condition in about 4 months which then allowed me to take out a commercial mortgage and pay them and all creditors. I rented that for about three years and eventually sold it to the tenant for a nice profit.

I also did a few wholetale deals with an equity partner in the early 00's when the market was beginning to soar. BTW, didn't know there was a term for it until I heard it on a BP podcast.

Currently I own two properties in my neighborhood one of which cash flows very nicely and the other just starting to now that I have the right tenant in there.

Now to my point. I've recently been downsized out of my full time position and though I will be seeking FT employment again I want to get back into REI. I'm also lucky to have a wife who is still gainfully employed. I am also a licensed RE agent and a member of my local board so I have MLS access.

I have grown terribly risk averse though and may need some encouragement. I am accumulating my list of questions but will try scouring the forums first.

-fred