All Forum Posts by: Account Closed

Commercial is totally different than residential. The important info you need for this type of property is # of units, occupancy, does vacant units need any rehab, total asking price, is the owner willing to do owner financing, total annual NOI (Net Operating Income) is total income minus expenses. Then do calculations such as price per door, cap rate, return on investment, and comps of sold similiar properties in the area. Commercial properties don't have an ARV, just cap rate.

There are several types of services that are way cheaper than hiring an employee. It is vumber and patlive.

You need to appeal to their emotions and send a personalized letter from your family, not a business.

There are private lenders out there but typically they want you to put up at least 10% of the deal. 

There is a 1 page "Assignment Agreement" that you create with the property address and the amount you are getting paid to assign the contract to the buyer. Get the buyer to sign it and then you can give them a copy of your contract. Then you make sure you get a copy of the Assignment Agreement to the buyers title company, so you can get paid.

It's the same anywhere. Once you have a property under contract, look for all the properties in the same neighborhood that was bought for all cash within the last 3 years. Typically you can get this info from the MLS if you have access. If you don't then ask a realtor to provide that for you. Once you find all the houses that sold for all cash, then check out the address on the assessors website to find the owners. Then do a search on the owners name on the same website to see how many properties they own. If they own more than 1 then they are probably investors. Contact them and tell them all about your house. Keep the list of investors and continue to add to it.

Also join your local REIA.

Then take the NOI from each property and divide it by the number of units. That will give you a number that tells you the profit per unit. Then compare that to any property you are looking at and the one that has the highest income per door is likely to give you more profits. Also look at the cash return on your investment and compare to the different properties you are looking at.

Click on my picture. They won't let me give it to you in this message thread.

I can help you in Orlando.

You can put up the EMD, but you have to make sure the contract states that you get your EMD back if you cancel the contract.