All Forum Posts by: Account Closed

I didn't want to pry too much into my clients own dealings with the bank that technically doesn't have anything to do with me. But I did find out that it was a fixed 15 yr conventional personal mortgage (non commercial) at 80% LTV. I am sure he has enough collateral in the bank as he is known to be a very wealthy businessman, not to mention thrifty. That's all I got - just letting everyone know what I know.

The best book I've ever read on real estate is the real estate game by poorvu. Poorvu teaches real estate at Harvard Business School but this book was written by him for the general audience. It's a much larger look at a real estate career starting outnto bcoming a bigntime developer. It's a brilliant book that can give you a macro perspective on the real estate game, and would be an excellent complement to your other readings like Millionaire Real Estate Investor which is also a great book.

Recently a international client of mine was successful of getting financing to purchase US real estate. The person is from Hong Kong and talked to their banker at HSBC, who then referred him to a banker at the HSBC USA. With the relationship that my client had with HSBC locally, he was able to leverage that to acquire a loan for his real estate investment.

There are a lot of people on this board from overseas that have trouble financing real estate. A good avenue when seeking financing is local branches of large international banks. If you are a reputable customer, it is possible to get referrals in order to acquire US loans. I'm sure collateral helps too. Good luck to all.

It can be useful holding different properties in different LLCs because sometimes instead of selling the actual property, you can sell the company that owns it instead. The transfer is no longer a real estate transaction then, but a standard business transaction, no different than if you sold one company to another. All assets transfer and best of all no property duties or stamps!
-v

I have played lots of Angry Bird and you can get Monkey Island 1 and 2 on the app store.

The only productive use I could find for the iPad (aside from surfing the web and reading) is that I have been able to use it as a notepad after getting a stylus. The app Noteshelf is very good and is easy to use. There are lots of different types of "paper" like lined, or calendars, or a budget. I can't say that I am completely off using my notebook, but somtimes its pretty cool. The drawing on it is cool

On another thought, do you have a spreadsheet that is exported from the Argus program? I have seen some and they are very elaborate. If I come across one I'll send it you guy's way.

Didn't mean "excel" drones, but I meant the drones in business school (I've seen many creative minds destroyed by a Masters of Finance, and MBAs).

Excel is an amazing program, especially when you spend 14 hours a day in a boiler room like atmosphere building models that are meant to trick S&P into giving the mortgage backed security you are working on a AAA rating. Obviously I'm being facetious.

You are right keeping fees out is probably good for the small apartment model. Anyone who is charging fees like that should know how to build their own spreadsheet.

Cheers and good night, -V

I think it's difficult because different fees are charged on different parts of a transaction. For example capital placement fees are charges on the front end, but overall IRR should take that fee into consideration. On the other hand percentage return should nOt take front end fees into account. I guess it's hard because every deal is different. A JV can take different strucures for example and everything from NOI to capital gain is negotiable. I guess that's why ppl like to hire drones/analysts to sit around to build models in banks.

I'm thinking about getting an analyst to for research purposes... Er.... I meant a cheap intern in business school (a lot of students will work for food). As the primarty breeding ground of Excel drones maybe I can im thinking it cant be hard to find an mba candidate with experience in fund modeling. And I can get him to build models for BP!

I'm gonna play with my model some more and if I can figure something out I'll post it up.

Looking forward to checkin out the ULI presentation. Love the ULI!

Angies list is hit or miss for me. I have hired ppl there that have sucked, I suspect from having huge number of proposals since they are no. 1 on Angies list.

On the other hand my brother hired an architect a few years ago off there and I use her to this day! She designed a number stadiums like the Baltimore Ravens stadium when she was a working stiff at a blood sucking corporate architectural firm. Now shes independent and has used Angies List to her advantage. Shes great,I think Angies List is good for smaller ppl like that.

This is a great site, thank you all! I have learned so much just by browsing and searching. I try to contribute when I can and have something substantive to say.