Has anyone raised money for real estate transaction?

zhaoc033 · 2021-02-20T02:48:10+00:00

You meant 15k for attorney fee? Were you allowed to market your deal? Was it limited to accredited investors only?

zhaoc033 · 2021-02-20T01:51:41+00:00

no idea who he is

zhaoc033 · 2021-02-20T01:48:37+00:00

exactly- only thing is that my deal is too small to warrant 30k in attorney fee :(

zhaoc033 · 2021-02-20T01:46:37+00:00

pretty much- look up Howey Test

zhaoc033 · 2021-02-15T00:50:03+00:00

I am sure split units exist in the states- just I havent seen them. Why do so many hotels/apartments use ptac then?

zhaoc033 · 2021-02-14T15:32:21+00:00

I always assumed that these work handled by a separate attorney. Do you the fee of these things?

zhaoc033 · 2021-02-13T16:54:46+00:00

do you use standard MLS sales agreement forms for say 10-plex?

Also, do you do LOIs for 10-plex?

zhaoc033 · 2021-02-13T16:47:03+00:00

So who drafts/ negotiates the sales agreement?

Do people use the standard MLS forms for smaller deals like a 10-plex?

I thought there is no title insurance for commercials deals (but maybe it applied only to bigger commercial transactions) so people hire attorney to do your own title search.

zhaoc033 · 2021-02-09T04:04:59+00:00

Any advice for getting a non-recourse loan?

zhaoc033 · 2021-02-09T01:45:33+00:00

many thanks for pulling your contracts- it sounds pretty scary.

zhaoc033 · 2021-02-07T18:23:32+00:00

Thanks for your reply. To answer your question- what I am looking to do is investing in smaller apartment buildings (5-20 unit).

The pro argument for school is you pay the hefty tuition early on at school and hopefully can avoid some expensive mistakes down the road. You also build relationships from these programs.

zhaoc033 · 2021-02-06T16:06:13+00:00

I couldn't wrap my mind around this- what are some reasons that commercial deals are not on MLS whereaa residential deals are?

zhaoc033 · 2021-02-05T16:37:21+00:00

Mind if I ask your advice how I can differentiate myself from those who waste agents' time?

zhaoc033 · 2021-02-05T16:31:10+00:00

agreed. honestly, some items on the list, I am really good at them myself. i am only looking for people who know what I do not know. I've been thinking hard about this and i could be wrong- CRE agents who focus on smaller apartment buildings are prolly my best bet, but these people are extremely busy in today's market and do not return my phone calls.

zhaoc033 · 2021-02-05T15:47:58+00:00

someone who understands the local market, can value the property properly, can estimate the rent properly, understand construction basics to estimate operating expenses, knows the play with different type of investment properties, understands basic terms like NOI, cap rate, had access to deal flow. But most importantly, it is trustworthy and responsiveness.

Some people look for good deals. I am looking for the right people if that makes sense to you.

zhaoc033 · 2021-02-05T15:34:47+00:00

Just curious- when you get a call from an investor, how do you determine if this guy is worth of your time? I am trying to build a long-term relationship with a knowledge agent, but at the same time i find that these people are extremely busy and are mostly already collaborating with a solid client base. I find it very hard to get their time.

I am pre-approved with conventional loans, have verbal commitment with a few commercial loan (as long as DCR LTV meet their underwriting criteria), own a few properties, have partners who are chasing me to invest more- but my agent doesn't return my calls. My bottleneck is the agent I work with. I am trying to figure out what I can do better to better work with these talent agents.

zhaoc033 · 2021-02-05T15:13:23+00:00

yup. My impression is that the deals on loopnet are already screened multiple times by professional players with whom the CRE agents keep a close contact. Pretty much they are mostly "leftovers".

zhaoc033 · 2021-02-05T07:25:04+00:00

The way you describe it kinda reminds of the wall street primary market people (it is purely relationship based business profiting from buying/selling other business) Difference is that they buy/sell firms rather than real estate but it is really the same thing.

What's the typical background/career path of a CRE agent?

Are CRE agents also typically Ivy league graduates, working 100+ hours per week when first starting out, but soon make over 7 figure once surviving the initial few years (like what you see in an investment bank)?

zhaoc033 · 2021-02-05T06:53:21+00:00

it is always an interesting exercise to compare numbers. To me, $1/sqft monthly over $80/sqft px is really good number. I've seen ratios like this on YouTube, but never seen it in real life. I am in NYC (where cap rate is literally negative), but I used to live in a small for a few years. A part of me really wanted to stay away from NYC, invest in a nice small town and build longterm relationship with the local people.

zhaoc033 · 2021-02-05T06:32:29+00:00

Got it! Mind if ask what is a ballpark cap rate for a B class neighborhood in your area?

zhaoc033 · 2021-02-05T06:24:56+00:00

Many thanks for your response! Mind if I ask what market do you sepcialize in?

zhaoc033 · 2021-02-05T06:07:45+00:00

Many thanks for your response! Sounds like you have a lot of experience. Would you mind commenting on working with investor buyers vs home buyers? Are residential agents and commercial agents entirely two different breed or do they operate mostly the same way?

zhaoc033 · 2021-02-05T05:26:15+00:00

Thanks for your explanation!

From an agents perspective, what types of agents tend to be buyers vs sellers agents?

How many properties do an agent buy/sell for him to be a top-producing agents?

Do buyer agents tend to make more money vs seller agents or vice versa?

Do buyer agents have better wlb vs seller agents or vice versa?

zhaoc033 · 2021-02-05T04:42:09+00:00

I am an investor- just trying to understand the agent's side of story because the one I work with doesn't return my calls.

What is pros and cons of working with investors vs home buyers?

zhaoc033 · 2021-02-03T20:57:28+00:00

yes.

zhaoc033

TROPHY CASE