All Forum Posts by: Ash Patel

What is your RE history/credibility?  Is this a deal you would feel comfortable pitching to your friends/family?  What returns can you offer?  

Don't forget all the local palms that need to be greased.  I know developers in emerging markets and there is a lot of backroom deals needed to get things done.  Keep in mind that in the US, we have a deed and a proof of ownership trail.  In some foreign countries, possession becomes absolute law.

I always preach relationships with local banks.  Treat banks like partners instead of commodities.  Local banks so you can get to know the entire staff up to the president.  I have banked with the same local lender for 10 years and they absolutely bend over backwards for my crazy requests.  Part of that is they have seen what I can do with vacant buildings/empty land so their confidence is justified.  If you currently have a portfolio, offer to transfer it to a local bank if they will do you this one solid.

I would absolutely discount it.  Make a separate receipt stating this is non-refundable.

Active to passive.

Over the last two years I have been selling my commercial assets and putting all of those funds into syndicated value add multi-family investments.  At first, my due diligence was gut feel and Internet research.  As my investments grew, I met with the principals of the company several times, flew to the properties to interview the managers, management company and to see the renovations first hand.  If you have a significant investment in a syndication, take the trip to the properties and do the same.  Its a tax write-off!

Check out the business model of Florence antique mall.  They have vendors who simply place their items with price tags.  They don't have to be present and a common cashier handles the sales.

What is your goal?

I purchased the office building on the right and it came with a 150 year old house on the left zoned commercial.  It was in rough shape and I was going to tear it down.  A friend convinced me to let him try to get a tenant and he succeeded.  Its a boutique shop now and the owner lives upstairs.  Advertise a work live space.  Also put a for rent sign out front.  When you get people that call looking for residential.  Let them know what the space is and see if they know anyone interested.  You will be amazed at the number of people interested in work/live spaces.

After having lived through a few bubbles, I always question why more people (including me) didn't heed the warnings and take action.  It also seems that subsequent bubbles encompass a wider audience.  I've been selling a number of my commercial properties over the last two years expecting a downturn.  This is more profit taking than timing the market.

If bitcoin ends up being a bubble, it will be on a global scale.  Because of this scale, it has the potential to run up so much more and then.....