All Forum Posts by: Jason Lipovsky

@ Craig

What was your experience? Quick close? all cash? how did you find the buyer? Property type. Also do you have any suggestions how to reach a REIT to propose property? Thanks for any feedback

Just a couple of thoughts... great post!

I heard the FNMA pilot program sold their assets at 100% of market value with multiple bidders.

Any backlog of foreclosures and homes with negative equity will be gone in the next 24 months. With the supply shortages and the fierce bidding to acquire assets we have realized huge price gains this year. As prices increase, many troubled properties will no longer be underwater. Existing notes will be modified. In the end inflation will fix our nation’s housing crisis.

When you apply for a tenant improvement permit the city will typically hit you with upgrades. Im selling an old restaurnt from the 30's and the prospective buyer went to the city and they lead with the upgrades. This is becuase the city needs the revenues. If you ask the right questions for example you are going to use the property in its existing condition and will not be pulling permits then the upgrades are not required.

Elevator installs are unreasonable expense as I priced one for an office building in Tustin. The price range was $75,000-$125,000.

Good luck on your investment

Does anyone have any experience selling real estate to a REIT?

Does anyone have any experience with submetering electricity and water on 2-4 unit properties? I have a client looking to submeter a duplex and I did not have any suggestions. What kind of meters were used? costs? Is there any wireless applications? Any help would be apprecieated

There are a couple on my website

Project your income and profits for the next 10 years (looks like this one is down) sorry guys... I get that one fixed

Will you make money by the time you've fixed it up and resold it?

Calculate the breakeven occupancy on an investment property such as an apartment or office building.

Estimate how much you could borrow on that commercial property. Allows for NOI, repairs, Debt Service Coverage Ratio.

How does the payment vary when you increment the interest rate and/or the principal borrowed

Craigslist is the best given the small size of your needs. You can subscribe to an RSS feed to recieve notifications for postings that meet your needs. Remember you can always negotiate. Office space is in low demand and currently has high vacancies. You can use this to your advantage to negotiate a great rate and term. Your most promising prospect will be from a sublease or a private party. If a broker is involved in the leasing you will end up paying market rent.

Michael G, I sold an industrial building to a client in 2007. He acquired the building with his SDIRA through Guidant Financial. At the time there were only a few companies with the capacity to establish and administer the SDIRA. As I recall there were very high set up fees including the establishment of the LLC and a legal consultation to establish the groundrules. Good luck on your endeavour!

Typically a bank will need 45-75 days to close. Given your timeline you have no choice but to use private money. Some of the private money guys we work with offer pricing from 6-9%. The industry norm is more like 10-15%. Once you acquire the asset I would suggest refinancing with a small business loan. The SBA has recently allowed banks to lend on these property types. However you will need to shop around as the banks will overlay thier rules which will prohibit lending on storage facilites.

I would suggest working for a brokerage for at lease a year and you will gain valuable experience and insight as to what types of transactions, assets and structure you will be targeting. Most importantly you will build your sales and networking skills. Gook luck