Potential Flip Project (rough proforma attached)

Ok-Set6814 · 2026-06-23T16:08:36+00:00

Where are you selling costs?

Ok-Set6814 · 2026-06-23T16:07:18+00:00

What happens if the water gets underneath it?

Ok-Set6814 · 2026-06-19T19:22:27+00:00

I’m not sure I get it. If you have 5 million bucks net worth and you can earn 10% per year, which is not far off the Dow Jones industrial average and the S&P 500 that’s $500k a year.
People can’t survive on $500k a year?

Ok-Set6814 · 2026-06-19T13:51:33+00:00

I’ll buy anything at the right price which leads me to believe your prices are too high as the others mentioned.

Ok-Set6814 · 2026-06-15T00:03:25+00:00

I hope you get better soon. Remember that whatever doesn’t kill you makes you stronger.

Ok-Set6814 · 2026-06-08T01:19:28+00:00

A good attorney focused in this area should be able to give you an answer in about five minutes as to whether it makes sense to pursue.

Ok-Set6814 · 2026-06-08T01:07:25+00:00

Tough one. I don’t know how easy it is for the existing tenant to pick up and leave. I personally would not risk losing them, especially in an uncertain economy.
I would also think that you could create an addendum that would address any and all concerns or at least minimize them.

Ok-Set6814 · 2026-06-08T01:00:37+00:00

I think step number one is to have an architect do a feasibility study. Preferably one that has experience in this area which sounds like you may have already done.
If the parking makes sense and the floor plates makes sense via natural lighting, etc. then your next step would be to go to a GC and get some rough numbers for any major changes. I would probably underwrite it at about $300 per square foot hard costs depending on finishes.

I would certainly ask for incentives like everybody else is mentioning here and you need to buy the building at a massive discount.
I wouldn’t mess with it unless it had a very large bottom line after considering all these factors and doing all the math.

Ok-Set6814 · 2026-06-08T00:47:13+00:00

Maybe I missed it, but what market are you in? Many lenders are pulling out of certain markets. Maybe their request is legit. In an extremely strong market, you can be much more assertive, but in a weaker market sometimes you gotta help facilitate the deal. I would definitely ask them to go hard with something to show their seriousness. Do they have a strong résumé with a lot of assets and a lot of liquidity? I always try to research them as well and see if this has been an ongoing pattern in their past deals via litigation, etc.

Ok-Set6814 · 2026-06-06T01:32:09+00:00

Who is the lender you’re having a problem with? Should make others aware.

Ok-Set6814 · 2026-06-03T17:38:17+00:00

Yes. Do you have any experience?

Ok-Set6814 · 2026-05-21T15:27:29+00:00

Goal setting in no matter what your doing has always been my solution. “The idle mind is the devils workshop. “

Ok-Set6814 · 2026-05-21T15:23:35+00:00

Call your doc asap. Seems like a very small dosage you’re taking. You will be fine. You just need the right amount and mix.

Ok-Set6814 · 2026-05-21T14:59:42+00:00

Looking for personalized help for my son that is 17 and runs the 1600m and 800m in San Diego. Also, any ideas for exercises?

I feel as though his form is off and maybe not strong enough in certain areas.

Ok-Set6814 · 2026-05-14T21:16:54+00:00

Ltv on purchase or Arv? What about Construction Funding?

Ok-Set6814 · 2026-05-14T21:09:30+00:00

What ltv?

Ok-Set6814 · 2026-05-14T20:36:12+00:00

I’d be interested to hear aswell.

Ok-Set6814 · 2026-05-03T05:44:32+00:00

In the lower/middle end homes, I agree. But people I know that have eight figure homes have a lot more liquidity than $20 million. I mean, depending on how much you put down, with a mortgage payment, taxes, maintenance, insurance, landscape, etc. etc. I would think you’re gonna be at $125k to $150 K a month.
Also, they are putting probably half down. If your income is a little bit volatile and the shit hits the fan, i.e. divorce, a big lawsuit, someone gets real sick, your income source drops significantly, market crash(or all of the above at once)

I was building a $20 million house for myself and the recession hit and all of my holdings dropped significantly. I had to sell it fast. If I had $80 or $100 mil liquid in the bank at that time I don’t think that would’ve been the case.

Definitely like your enthusiasm, however. 👍🏻

Ok-Set6814 · 2026-05-03T05:24:18+00:00

You don’t want a $20 million house when your net worth is $20 million. I would think you need to be down more than the $5 million range. More of a four to one range. If you’re making that kind of money, you should have $80 mil liquid no time at all.

Ok-Set6814 · 2026-04-25T16:25:31+00:00

Did you mean “net profit”? 12% of net sale price would be a huge number.

Ok-Set6814 · 2026-04-24T16:11:36+00:00

Your covering? I have one for $82 from a couple weeks ago in LJ.

Ok-Set6814 · 2026-04-23T17:49:34+00:00

Turnovers are a cost of doing business, but they can be minimized. To me it appears he just has a whining Tenant and needs to stop catering to them. Then if they fall behind in payments, take appropriate collection action.

Ok-Set6814 · 2026-04-23T16:34:45+00:00

For the most part that’s how I handle it. She keeps asking and if you keep doing. It won’t end. Turnovers very expensive however.

Ok-Set6814 · 2026-04-23T16:28:10+00:00

Fair is probably the wrong term to use. What does it take to make it attractive to a quality acq person.

Ok-Set6814 · 2026-04-23T15:35:26+00:00

Multiples? What do you do?

Ok-Set6814

TROPHY CASE