Hey Guys - I'm not sure that I shared this with you guys, but a few weeks back there was a great 3 page feature article in a magazine called REI Voice about me and BiggerPockets that I thought I'd share with all of yo...

Here is what the prospective property for the case study is like:Large commercial Big Box retail property (its a BIG place) Located in the suburbs of Des Moines, Iowa Des Moines is one of the most up and coming business hubs in the country and is bustling with growth.Former American TV and Appliance storeThey are the current owner and went out of business in this location about 5 months agoDirectly off the interstate (I 80 35)*** FUN FACT - Des Moines is the only place in the nation where Interstates 80 and 35 conjoin ***Directly across from a business parkIncludes a hotel, restaurants, office space, a movie theatre, grocery store, barsNear residential neighborhoods as well (adjacent to my house)Here are some of the numbers on the property:Asking Price: $7.2 MPrevious Sales Info: Sold in 2013 for $5,310,500146,003 Total Square Foot$49/SF10.21 AcresYear Built: 2000Current Assessed Value: $9.2 MCurrent Tax Information: $371,976 annual payment (EXPENSE)Water Payment Information:Summer Months: $3000 (EXPENSE)Winter Months: $400 (EXPENSE)TOTAL EXPENSE UTILITIES: $450,890AVERAGE RETAIL RENT - DES MOINES METRO: $12.32 / Square Foot / YearPROSPECTIVE PROPERTY AVERAGE ESTIMATED RENT: $1,798,756 / YearESTIMATED CAP RATE: 25%Based on previous sales price during 2013 of $5,310,500I wanted to first of all make sure I calculated these numbers correctly and wanted to get more opinions on what these numbers are like for a property like this and if anyone here has had any experience with a similar property.Thanks for all your help BP!

I enjoy watching the Montelongo's tv show.  

Also, you would be hard pressed to change the sellers mind when their realtor is telling them it is based off comps.

I like the idea of flipping (mostly because of the tv shows) but am really focused on how to find, assess, finance, and protect the potential deals.

https://www.ftc.gov/news-events/press-releases/2019/11/ftc-acts-shut-down-companies-operating-real-estate-seminar-scheme

(That's the advantage that smaller firms have--they don't have the broker/dealer's fee layer, which is very substantial and significantly effects the return.)I know that I've grown almost entirely by word of mouth, referrals from existing investors, press coverage, and networking.There are already fund-of-funds out there.

Guess who spent their Saturday scrubbing and bleaching the tub and tile down in and around that bathtub (hint: we did while the tenants sat around and watched TV). 

I am wondering if it is like signing up for cable TV and internet where after you are in they raise the price.  

Worst of all it is on TV.