All Forum Posts by: Christian D.

Curious to know if anyone has used the auction platform Ten-X to acquire commercial properties. I believe the site used to be "auction.com" and they were bought out? Any feedback or user experience with the platform would be greatly appreciated.

Are there any commercial brokers in the Memphis area that deal primarily with the acquisitions/dispositions of office properties and leasing?

@David J Lepard. Hi David,

I'm pretty active in the NJ/PA area, and I just recently closed on my first property here in NYC. But ideally I would like to pick up a larger multi-family complex, in the Southeast or Midwest (30+ units). But I am open to looking into other area's as well. Let me know your thoughts.

@Evan Torrens Please shoot me an e-mail, i'd love to hear what type of deals you are currently working on.

C

Hi,
Is there anyone from NYC interested in partnering or syndicating?

Christian

[email protected]

please e-mail me [email protected]

@Mark Smith And did I mention you can buy that $100K property with 80% of the banks money?

@Mark Smith Let me shed some light on this as I just turned 27 last month. Being an individual who owns real estate, has a employer sponsored 401K, and a self-directed IRA, I can tell you my biggest returns have been from real estate. The problem here is there is only one thing I mentioned above that has directly changed my living standards TODAY -- that's the cash flow from my real estate.

I have approximately $30K in stock investments from my IRA and 401K (both roth) which sounds nice, but I plan to liquidate both accounts in the coming weeks and use that money to buy more real estate and here's why. Aside from 8-12% returns I've received from my retirement accounts, there are NO tax advantages, and no immediate income stream. The money I have contributed to my retirement accounts have in no way helped me TODAY. Some of my rental properties have returned 20%-30%.

I am not willing to continue to contribute to account(s) that will not let me reap the returns or awards for another 25+ years, and have no impact on lowering my taxable income. AND IF I MAKE ANYMORE MONEY I WILL BE PHASED OUT AND NO LONGER BE ALLOWED TO CONTRIBUTE PER THE IRS TAX LAWS.

The 401K's and IRA's are great for the average person, but for me it just does not make much sense.

You can buy a $100K  rental property today, receive cash-flow, take tax deductions, and by the time your 55 it will be paid off and the property will have probably appreciated enough that you can sell it and have more then what you would have in your retirement account if you continue to contribute 6% for the next 25 years, or continue to let it cash flow and receive that income stream for life.

I guess if you're only contributing 6% it really doesn't make much of a difference.

@Adrian Chu in this case I am paying the brokers commission of $15K, but it's coming out of the lender credit. The lender is not paying the mortgage brokers commission directly, but rather indirectly. But technically it's still coming out of my pocket as I could use that remaining credit towards other closing costs and bring my total cash to close down if I didn't have to use almost half of it to pay the brokers commission.

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