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4 contributions to Terms Over Cash
22d •
One move this week
Comment the single action you are taking before next Saturday. Send 20 letters. Call one landlord. Walk one property. Ask one seller what they would do with the money. Write your screening criteria. One action, one comment. Next weekend I will come back to this thread and check on every single one of you. That is the deal.
1 like • 18d
@Chris Wilson tried that too! Broker said it’s not. I’m sending a low-ball cash offer and then when they inevitably say no I’ll ask them to put me in contact with the bank. I’ve met zero people who think their loan is assumable when in reality most banks are more than willing to have the conversation. The T12 has the seller cash flow negative if my estimated note terms are close. Best case for me would be he’s not performing bank wise as well.
0 likes • 9d
@Chris Wilson didn’t end up sending LOI on the apartment. That seller doesn’t realize how distressed he is just yet. So to replace that goal I sent LOI’s on two other properties.
18d •
Who owns the building you always notice?
You know the one. The worn fourplex by the park. The duplex with the sagging porch you pass on the way to work. Describe it in the comments. No address needed, just the building and your town. Naming it is step one. I will reply to every single comment with the exact next move to find out who owns it and how to open.
0 likes • 13d
My favorite building in my town is an 8 story office building downtown owned by a family trust. The name of the building is the family name. I don’t think I or anyone not in that family will ever own it. Which logically means my only shot is the build my own version!
23d •
Friday open thread. Drop your deal.
Working on something? Post it here. Numbers, seller situation, what is stuck. No addresses needed. I read all of them. The three most interesting ones get structured live on the Premium weekly call, and I will post the structure back into this thread afterward so everyone learns from it. If you are not working on a deal yet, post the kind of building you want first. That counts.
1 like • 21d
Under Contract: 4k sqft commercial building, 3 units 100% vacant. 100k purchase price Appraised value 140k Bank financing 119k Downpayment 21k I’ve pre leased 2/3 units before closing Fully occupied should cash flow 12k a year after debt service.
28d •
What is actually stopping your next deal?
One word answers. Money, sellers, fear, or paperwork. Comment which one is holding you and one sentence of your situation. I will answer every single comment with what I would do in your spot. No wrong answers. 25 of my 43 buildings took nothing down toward the price, and I still remember which of those four words had me stuck at the start.
2 likes • 28d
Seller’s. I’ve purchased $2mm in off-market zero down business/real estate in the last two years (only 2 deals). I close on an off market commercial building on Friday. I can’t get anything on MLS to convert so deal flow feels slow.
2 likes • 28d
So far: Deal 1 - Friend sold it to me Deal 2 - Different friend was the seller’s rep Deal 3 - Facebook Marketplace
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