All Forum Posts by: Janice Manola

Dear all, Thank you so much for your feedback!! You save my life! Well, maybe I need to explain more. I believe one of the agents is CCIM or maybe both are. I thought this is a very reputable designation and thus may offer superior services and thus higher fees (of course silly me to believe that). Both said they would do financial analysis for me. I did not understand the part that when the agent submits the financial information of the property for me to the bank and if the deal goes through, he would want a percentage of the loan to compensate for this work. I did not understand why he charges me up front when he analyses deal for me to pursue (doesn't he get paid when I buy? to compensate the work he did? that includes financial analysis too?) The 20% stake in ownership was proposed if an off-MLS deal which appears to be a super good deal for me and he wants a piece of it too. Oh well, it doesn't matter now. Both of them just are wasting my time. Thank you again to all of your advice!

I am interested in multi family properties, most likely California and Washington State because I have family(whom I can trust to check on my properties while I am not there) in both places but open to anywhere in USA. Since I am just starting, I still have a lot to learn. Wish me luck!:) Thank you Thank you Thank you!!!

Actually any where in USA that offers great cash flow.

Hi all, I am new to commercial. I interviewed one agent. He told me that in order for him to look for properties for me, I have to sign a contract with him so that he will be my sole agent. On top of that, he charged few grand up front for analyzing deals. I interviewed another agent. He never mentioned about commissions. But he told me he would charge 10% of the loan amount as he will assist me on bringing all info (Financials of the properties) to the banks to get the loan; and he suggested to get 20% ownership of my property if he brings me a good deal. My question is are these norms in commercial real estate? So when commercial real estate owner sells, there won't be a fixed percentage set as commission to agents like in residential? Any thoughts?