Also excellent when flipping older homes where bedrooms were usually built the same and not very big.

Networking with like minded people has brought me the best success in finding local talent.I haven't been able to establish a mentor, but I've established lasting relationships with people who are successful in their niche and have helped me to evaluate my business from a new perspective, which can be just as valuable as a mentorship.

Not new to BP but ready to network with all and everyone. let's make some money and strong relationships people!!!!!!

Building located in good location with plenty of parking.Asking price: $1,250,000.00Gross inc: 264,000.00OE: 120,700.00NOI: 143.000.00Maintenance appears to have been kept up and facility seems to be in excellent condition.Any thoughts about this and what I should be considering given my lack of commercial experience?

Building located in good location with plenty of parking.Asking price: $1,250,000.00Gross inc: 264,000.00OE: 120,700.00NOI: 143.000.00Maintenance appears to have been kept up and facility seems to be in excellent condition.Any thoughts about this and what I should be considering given my lack of commercial experience?

I've never really dealt with this scenario first-hand (and I don't ever plan to), but I do talk with a lot of tax delinquent sellers who have back due HOA fees - and just for the sake of expanding my knowledge of how this relationship works, I'm trying to fully understand any/all consequences that come when a property owner violates HOA rules like this.

I am also an active real estate investor that has a number of relationships with several local banks.  

Here's my situation:I have been working with a commercial broker for the last two years to find a good MFP, found it, got my offer accepted at 1,365,000.I have a good relationship with a bank, have the lending commitment, have a good relationship with PM, have their commitment to manage the property.Downpayment will be 275,000 and I had initially planned on doing this myself, but now thinking about partnering with one other person.

If you buy from some owner and then flip it for a significant profit, the issue of your greater knowledge comes into play and, depending on your relationship, flipping a contract can be considered a net listing issue, having a seller agree to accept a certain price with you taking all the profits above that price.Next, is the broker liability, if you are out there doing flim-flam investor strategies the risk of deals going south goes up, if you tick off some owner in doing a screwy deal your broker can be held liable.Barring that and other smaller issues, like marketing, co-broker arrangements, commission credits on deals with owing the broker a % of the credit being ironed out, no broker can really keep you from owning real estate.

Our best deals were brought to us by bird dogs.I always look at establishing relationships with a few bird dogs in each town we are looking at buying in.Once they know your criteria and that you have the capacity to buy quiet a few houses your phone wont stop ringing.We pay a $1,000 them commission whenever we buy something.Thanks.