All Forum Posts by: Tyler Eaton

Greg, I'm going to have to start paying you for the help! Thank you very much for your responses! I figured I would be asking the seller to essentially front the down payment, which I think is my largest cause for hesitation. I do like the idea of investors, though, thank you.

Hey again!

I am curious as to what seller carries actually look like in a deal, and how I should go about it. I originally was looking to go the SBA route, and use a CDC to qualify for the sba 504 loan. However, I don't think I want the restriction on tenants. That being the case, I started thinking about how a seller carry would work.

I realize that i have to find an owner that is willing to do something like this, which will be my first task. However, i want to know what i am asking for when I do end up finding the one. I work with a lot of independent landlords who own only one or two centers, so i am fairly confident in my ability to find one.

Moving onto my question, what would the term look like? If I were to ask the seller to carry the whole down payment for a $2m property, and pay them interest only with the lump sum at the end of 3 years, would that make sense? I figure if the numbers make sense for me, and I could offer them a full price with my contingencies, they may be fine with it. Does anyone have experience with navigating a way around a down payment? Seller carry financing? 

Thanks for all the help so far, by the way. I have heard over and over again how good the forums are, and really did not realize it until I started making posts. So, thank you all very much!

You guys are awesome thank you for the feedback. Helps clarify things Quite a bit!

Hey again Greg! I had a feeling that this was the case, which is what I believe lead to my confusion while listening to the podcasts. 

Looking forward to putting something together. With a 506 c this time!

Hey everyone! 

I am looking to be a sweat equity partner in the purchase of a smaller commercial retail center. I am a commercial broker, and would essentially be bringing to the table my ability to lease and manage the property completely for the time that the property is owned. Another broker at the company has the sale listing, so it would be pretty easy to get into contact with the eventual buyer.

I have heard a few guests on the podcasts go about their first ownership in this way, but am curious what the community has to say. 

Does anyone have experience with this? Would buyers even care? What sort of percentage should I be asking for? ANY tips or words of wisdom are appreciated!

(Being that my percentage depends on size, lease rate, and cost of the center, the one I am looking at is $3m, 7-Unit center, 8500 leasable SF, @ about $20/sf+NNN)

Hey Brian! I am not holding anything at the moment, working on that. I am, however, a commercial broker that works with quite a few owners of that description. If you want, feel free to message me and I would be happy to answer as much as I can! 

Hey everyone,

My family has run into a bit of an issue with a remodel that my mom wanted to have done. She hired a company that did 90% of it, but took 100% of the money, and it took them 18 months. Our house is only 1500 sqaure feet or so, and we were told the remodel shouldnt take over 4 months max. During the year and a half that they were 'working' on the remodel, my step dad was battling brain cancer. He passed away in july, and my mom is trying to pick up the pieces.  My mom is not super well versed in doing things like this, and is already having problems with another contractor. I told her it is a red flag if the guy wants to finish the bathroom "in between other jobs". So, i wanted to com here first to the place that has helped me so much. The info is below, please feel free to contact me with any tips you have. Thank you in advance.

The bathroom is  last thing that needs to be done. It has all of the above ground pieces and sits as a shell, so you wouldnt be finishing someone elses work. We have the right shower pan and everything, and i am available to provide any information you or your favorite contractor needs. I can also show the bathroom to anyone interested. 

This is my first post on biggerpockets, so i apologize if my information is a bit lacking. Thank you so so much for any help you guys can provide.