All Forum Posts by: Andrew Fielder

I'm looking to buy 1st position non-performing notes collateralized commercial real estate assets. Environmental distress is a plus!

If anyone could put me into contact with any direct sellers, banks, servicer that would be great.

@Chet Mazur not 100% on the structure yet, as still very early in vetting the opportunity, but doubtful it will go down the crowdfunding path. Most likely will be true syndication.

Yes this is what I was concerned about.

Any way around it? I know when the judge sets a trial date it will become public info but wanted to get a jump on things.

I am a commercial appraiser  in southern california and we were asked to value a portfolio of 13 properties (all in california) on behalf of an elderly couple getting a divorce. 11 commercial and 2 residential. We had to turn down the work as most of the buildings are single tenant retail buildings aka not our bread and butter appraisals.

I believe there is an opportunity to syndicate this portfolio and possibly get a good deal given the age of the divorcing parties and given a bulk buy scenario.

Both are currently represented by attorneys...

What would be the best way to approach this? 

 Most will be appraising properties in the same city time after time. So a lot of it is copy and paste. Residential is really easy because you're getting the value based on comparable sales. Once you have the template and info together all you really need to do is get the comparable and tweak the template slightly. You could easily put together a residential appraisal in less than a day if you have all the info.

The guys making bank... That's all they do. They've been doing it for years and have appraisers under them that they get a cut from their work just like any other agency.

 Not sure what your question is... the way you've worded it doesn't make sense to me...

 I work in commercial appraisal so whole different ball game. I know there's appraisers that do well in residential but it's a volume game. 

I'm in the process of starting up a real estate services business on the residential side and see it as a separate product line that complements the business rather than on its own.

Has the building been appraised?

There's a few different ways to value a commercial office building. The main methods would be comparable sales method, income capitalization method and DCF.

I would focus more on the comparable sales method and income approach to figure out if you have a deal or not as most commercial building analysis is done using software such as Argus.

So you can look up a few comparable sales to see what they sold for. Looking at the overall price and $/sqft in your analysis. Then for capitalization method need to know NOI and then divide that by the market cap rate to get your value. Then you can see if the purchase price is in line with your calculations for value. If it's below you probably have a deal, if not then probably don't.

See the thing is that it's all relative. Many of the Asian institutions have been "over paying" for commercial real estate in recent years but for them they don't see it like that because they have lower return requirements. All they look for is total return>required rate of return.

I'm currently working as an appraiser for commercial real estate at CBRE. I'm looking to get my beak wet in the flipping business here in OC. I've read a few of the books on the subject but have no practical experience in flipping thus far.

I'm struggling with getting my lead pipeline going. MLS is so hard to find something, the good deals are gone in a day. Just wondering what marketing strategies have worked for some of the people making deals in socal?

Would be very much open to partner up with anyone willing to give me a shot.

I do have some capital to invest from selling my condo recently in addition to having lined up a few investors who would be willing to provide additional capital to fund a project. I'm also an agent and can run the numbers easily.

Any suggestions would be well received. Thank you.

Just call them and ask these questions as it varies from city to city. Doubtful you will need a lawyer but good to have an architect on your side. You will probably have to get an architect anyways so they can help you with that process. If you just want to find out some initial info ie time frame, permit costs etc. just call them yourself, they are employed to serve the community.