All Forum Posts by: Darryl Dahlen

A couple of the local post offices have been sold off as of late. One was in a small mixed-use building where the only space occupied was the post office. I'm sure there is a long-term lease in play that pays quite nicely. I can't imagine the building ever selling if the post office wasn't a tenant.

This could be a great idea if properly handled. My first reaction is the government would be far better off outsourcing this to a company is already setup to handle these sorts of transactions from A-Z.

CBRE comes to mind for properties suited for commercial use and an entity like Caldwell Banker for residential. Using a company with a national presence is ideal for obvious reasons and having companies with the knowledge, experience, and staff to evaluate, market, and sell properties is a win-win.

Left in the hands of the government this could right into the crapper for far too many reasons. Just think of all the 6 figure jobs that would be created to sell off properties for pennies on the dollar, lol.

My biggest fear would be a foreign country (China comes to mind) coming in and buying up large parcels of property. While that may not necessarily be a bad thing, I'm of the mind to give American people first crack at this sort of thing since taxpayer money was used to build/develop these properties.

Still, this could be an exciting opportunity if done right.

It can't hurt to try, and as Jon pointed out, it doesn't have to be an expensive or even a large event to be successful.

Costs can be cut by planning the event at a full-service hotel with convention rooms and that has a shuttle service to the airport. This would save members on having to rent cars and everything we would need (food, beer, booze, food, and oh yeah, meeting space) would be all under one roof.

I'd go just to meet the people who have said they'd go. The information I'd learn there would just be a bonus.

I'm with Financexaminer. You seem to be dragging up some older posts for no real purpose other than to promote yourself.

There is a lot of good advice here. I would also add that you need to spend some time determining what your niche is going to be.

Just because you can buy distressed property from a bank at a severely reduced price doesn't mean you should. Meaning, there may be a good reason why the property is bank owned. If you don't understand the market you could be setting yourself up to fail just like the previous owner.

My suggestion would be to spend some time getting to know what is going on in your market. As suggested, a mentor may be your biggest asset here since the commercial sector property spans so many different types properties. Once you understand the short-term needs of the local market, you can then start planning the next step.

Since you are looking to fix-n-flip, you are "probably" going to find the largest pool of buyers in multi-family projects. Perhaps you could look at buying failed condos and converting them back to apartments? Even in multi-family scenarios, you need to understand the market in order to ensure you are providing a desirable end-product (not only for the renters, but buyers too).

Example, it doesn't make sense to convert condos to high-end apartments if there is already a lot of existing inventory available when real the need is for Section 8 units. Nor would you be best served by buying those condos and converting them to Section 8 units.

I guess I should mention you also need to address your capabilities. If there is a need for extended stay hotels, I don't know as I go and look to convert a failed Best Western. The financial needs of a project like that may be a prohibiting factor right now, but my point is you need to know your limitations and not take on something where you get in over your head. That might eliminate projects like strip malls for now.

You also made a comment about bank financing. I don't know as I'd plan on bank financing for a non-performing asset. If it isn't performing, it won't debt service so there is little chance of financing. Unless, you were talking about the bank who is selling the property carrying paper on the property until you sell it. That "can" happen, but I wouldn't expect it to.

In my experience, these types of transactions are done with cash, not financing.

The site seems to be going great guns as of late, which is certainly a good thing.

Here's one more post to help out!

Looking at their website it is evident to me they are a brokers, not a lender.

Not saying this a bad thing, but my first reaction is to wonder if this company understands commercial lending. Perhaps they do, but often times, a residential broker will try their hand at commercial lending in an effort to make money when they would really be better served by passing on the deal.

To answer your question, hard money is private money offered at terms usually much higher then what you can obtain through conventional means. If you don't know which you are dealing with you need to ask or replace who you are working with since you are being kept in the dark far more then you should be.

If you have any questions, please do no hesitate to email me.

This is the first I've heard of this. In every small balance case I've dealt with, the lender determined the rate, and the rate was based off the numbers, not the state the loan was in.

I can take the same loan to two different lenders and get two vastly different quotes so there is no way the state is dictating what they can charge.

Now, there may be state laws that prohibit how much a lender can charge, but those laws will not effect most conventional lenders since they tend to lend on a margin based off the prime rate.

Is your lender a hard money lender? Are they a bank?

Helmet head? His hair would actually make me angry!

The change makes such a big difference! I used to have trouble choosing an item on from the drop down menu on the navigation bar. Needless to say it was frustrating, but whatever you did works.

Thank you for always taking this site forward!