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Commercial Real Estate Investing

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81
Posts
37
Votes
Michelle Dong
  • Investor
  • West Palm Beach, FL
37
Votes |
81
Posts

1st Commercial Investment Property

Michelle Dong
  • Investor
  • West Palm Beach, FL
Posted May 19 2022, 11:13

Hi Team,

I am looking for my first commercial real estate investment. I am looking for a multifamily residential apartment complex that has no less than 13 units in a B or C class area of Palm Beach County/Broward County, Florida. The price range I am looking for is from 1 million to 10 million.

If you guys know of anyone selling, any brokers in this area, or have any deals your friends or family are not wanting, feel free to reach out and send them my way.

I look forward to connecting with you all!

User Stats

739
Posts
409
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Andrew Garcia
  • Lender
  • Charlotte, NC
409
Votes |
739
Posts
Andrew Garcia
  • Lender
  • Charlotte, NC
Replied May 19 2022, 19:16

Hi @Michelle Dong, congratulations on getting into commercial real estate! I am sure the BP community can help you out!

User Stats

81
Posts
37
Votes
Michelle Dong
  • Investor
  • West Palm Beach, FL
37
Votes |
81
Posts
Michelle Dong
  • Investor
  • West Palm Beach, FL
Replied May 19 2022, 21:07
Quote from @Andrew Garcia:

Hi @Michelle Dong, congratulations on getting into commercial real estate! I am sure the BP community can help you out!


 Thank you so much!!  I am excited to start this journey ! 

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User Stats

190
Posts
110
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H. Jack Miller
  • Lender
  • Boca Raton, FL
110
Votes |
190
Posts
H. Jack Miller
  • Lender
  • Boca Raton, FL
Replied May 20 2022, 06:05

Very hot location with low cap rates. Curious to see what you find.

User Stats

32
Posts
35
Votes
Immanuel Pierre
  • Investor
  • South Florida
35
Votes |
32
Posts
Immanuel Pierre
  • Investor
  • South Florida
Replied May 20 2022, 06:24

Congrats ! That's a huge accomplishment 

User Stats

5,049
Posts
2,077
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Ronald Rohde
Pro Member
#3 Commercial Real Estate Investing Contributor
  • Attorney
  • Dallas, TX
2,077
Votes |
5,049
Posts
Ronald Rohde
Pro Member
#3 Commercial Real Estate Investing Contributor
  • Attorney
  • Dallas, TX
Replied May 20 2022, 14:23
Quote from @Michelle Dong:

Hi Team,

I am looking for my first commercial real estate investment. I am looking for a multifamily residential apartment complex that has no less than 13 units in a B or C class area of Palm Beach County/Broward County, Florida. The price range I am looking for is from 1 million to 10 million.

If you guys know of anyone selling, any brokers in this area, or have any deals your friends or family are not wanting, feel free to reach out and send them my way.

I look forward to connecting with you all!


 You should not have a problem with those criteria. Are things really trading for $750k a door Class C?

User Stats

81
Posts
37
Votes
Michelle Dong
  • Investor
  • West Palm Beach, FL
37
Votes |
81
Posts
Michelle Dong
  • Investor
  • West Palm Beach, FL
Replied May 20 2022, 14:31
Quote from @H. Jack Miller:

Very hot location with low cap rates. Curious to see what you find.


 Very hot market right now! I am looking in the orlando market as well since the cap rates are just a little higher up there.

User Stats

81
Posts
37
Votes
Michelle Dong
  • Investor
  • West Palm Beach, FL
37
Votes |
81
Posts
Michelle Dong
  • Investor
  • West Palm Beach, FL
Replied May 20 2022, 14:32
Quote from @Ronald Rohde:
Quote from @Michelle Dong:

Hi Team,

I am looking for my first commercial real estate investment. I am looking for a multifamily residential apartment complex that has no less than 13 units in a B or C class area of Palm Beach County/Broward County, Florida. The price range I am looking for is from 1 million to 10 million.

If you guys know of anyone selling, any brokers in this area, or have any deals your friends or family are not wanting, feel free to reach out and send them my way.

I look forward to connecting with you all!


 You should not have a problem with those criteria. Are things really trading for $750k a door Class C?


 Woah, 750k/door. I havent seen them that high but i have seen some 300k per door.

User Stats

81
Posts
37
Votes
Michelle Dong
  • Investor
  • West Palm Beach, FL
37
Votes |
81
Posts
Michelle Dong
  • Investor
  • West Palm Beach, FL
Replied May 20 2022, 14:32
Quote from @Immanuel Pierre:

Congrats ! That's a huge accomplishment 


 Thank you so much!

User Stats

5,049
Posts
2,077
Votes
Ronald Rohde
Pro Member
#3 Commercial Real Estate Investing Contributor
  • Attorney
  • Dallas, TX
2,077
Votes |
5,049
Posts
Ronald Rohde
Pro Member
#3 Commercial Real Estate Investing Contributor
  • Attorney
  • Dallas, TX
Replied May 23 2022, 08:58
Quote from @Michelle Dong:
Quote from @Ronald Rohde:
Quote from @Michelle Dong:

Hi Team,

I am looking for my first commercial real estate investment. I am looking for a multifamily residential apartment complex that has no less than 13 units in a B or C class area of Palm Beach County/Broward County, Florida. The price range I am looking for is from 1 million to 10 million.

If you guys know of anyone selling, any brokers in this area, or have any deals your friends or family are not wanting, feel free to reach out and send them my way.

I look forward to connecting with you all!


 You should not have a problem with those criteria. Are things really trading for $750k a door Class C?


 Woah, 750k/door. I havent seen them that high but i have seen some 300k per door.


 I'm quoting your price range! Still seems like a very broad investment thesis IMO.