All Forum Posts by: Ash Patel

Massive bubble in medical space right now.  Medical RE guys are well aware of this.

I preach this a lot but this is why I stick with a local lender who just gets deals done for me. The few times that I have strayed, it was such a pain. I may pay a higher rate on the fully leased NNN's but they will also finance empty broken buildings for me.

@Michael Huck - Thank you for that!!!

@Michael Huck - Thanks for tagging me.  I'm very curious, what are the drawbacks of going with a loan like the one you mentioned, compared to a conventional loan.  Another way to phrase this question, why shouldn't everyone go with your type of loan vs conventional?  Assuming credit is good and debt coverage is adequate.

What types of kickers would cause this to become a recourse loan?  Thank you!

Why do you want to convert the first floor to a bar/grill?  Why not just advertise it for lease and see who bites?

If the Realtor has added value along the way, I would consider throwing them a bone.  If they have not really added much value, do it yourself.  I believe RE is a game of relationships, not commodities.  

So you want to offload the risk of things going south?  Credit default swap?  Sorry not happening.

Just so you know, its FREE to list on Co-Star and I believe they will list on Loopnet also.  I've dealt with small spaces like this before and most brokers will not spend much time on it since their reward is minimal.  I manage all of my own properties and do it full time.  In my experience, I have always done a better job than a broker, especially with sub $1m properties.  

Like everyone else stated, Loopnet isn't much help but I would still list on there.  Use your existing tenants to help you find a tenant and just pound the pavement.  Be relentless, try to steal tenants from other properties etc.    

My wife is a surgeon and we hang out with a ton of cool docs.  If you work for someone, get paid a salary and have discretionary time, I would pursue CREI.  If you have your own practice or would benefit from seeing more patients, I would invest in syndication's or partnerships and focus on building your practice.  

Our setup is ideal in that my wife owns a very successful practice and I am a full time CREI.  The biggest benefit from this is I really don't work much and can be available for our kids.  The second benefit is because I am classified as a RE Professional, we have realized a ton of tax savings against her K1 income.

Have not.  I can't imagine that in today's climate that would be easy.  I have run across strip owners that have wanted to get out and retire.  Those people have offered pretty attractive financing terms but always required some down payment.