All Forum Posts by: Thomas Kovoor

If the rate is good enough, I have more upside in taking hard money than syndicating equity.

Hi Joel,

Walgreens usually trade in the 4.5 - 6.25 cap. Through a motivated seller in my network, I am closing on a property that will trade at more of 8.85 cap. Our investment group plans to turn the property right after taking ownership. Due to the timing (approx. 2.5 weeks), I can either go all-cash with outside investors or close with a hard money loan. I haven't used hard money for commercial and was curious what type of rates they charge.

What would the term be and total rate I could expect to be charged from a hard money lender?

BP Community

How would I go about finding and vetting private money/ hard money for a retail acquisition on Walgreens (NNN) with strong cash flow in a prime retail corridor.

I would appreciate any advice from those who have success using private money for commercial properties!

I saw very helpful advice from you all below. Any advice would be appreciated!

@SeanRichway @FreddyColon @DarrellShepherd @JohnHorner

Welcome to BP, BP has been a wonderful resource. I focus on commercial real estate and love to see more locals. Feel free to reach out if I can answer any questions for you about commercial real estate and discuss my experience.

Look forward to getting to know you. 

@Kevin Hurtuk

@Ron Szmik - thank you for coordinating yesterday's event! I look forward to future CLE meetups.

@Aaron Westerburg & @Timothy Murphy III - It was great meeting you both and look forward to the opportunity to connect to others who were there at future events and meeting other members.

Have a wonderful Thanksgiving!

Looking forward to meet you all next week at the Cleveland BP Real Estate Meet Up. @JamesAllega @JamesWise - will either of you be attending? I'd love to meet up and discuss investment opportunities in commercial or multifamily units and any others who have specialize in these niches.