All Forum Posts by: Bob Langworthy

@Emily Royce, we have loved Belize and the Cayman Islands. Ambergris Caye in Belize is laid back with good food in San Pedro and lots of snorkeling or diving. The Cayman Islands may have more to offer, but that brings with it more people. They both felt very safe.

Here are a few thoughts for them:

1) Don't overpay for real estate.

2) Prepare careful pro forma financial statements.

3) Get actual estimates for repair work.

4) Consider seller financing.

5) If the building isn't big enough for them to have other tenants, don't bother with it.

Hope this helps,

@James Schass, a good alarm system is a good investment, but most people rarely buy one. It would be like buying a car without knowing anything about cars. What you need to do is identify what the threats are and what the best solutions are to mitigate those threats. 

I installed an alarm system for my office building. There are 5 doors that access four offices all of which have motion sensors in them and a separate sub-panel by the door to activate the system for their office. That was all that I needed. I also have the panel, battery backup, etc., but didn't need cameras. I found the walkthrough to be very helpful. The guy knew that I was price conscious and was able to make recommendations accordingly. 

Hope this helps,

In addition to @Scott Mac's input, you could advertise it as storage (with a lease that spells out the don'ts) or look for ways to subdivide it in to smaller "storage only" spaces.

Hope this helps,

@Eamonn McElroy makes a good point. If the pattern is: purchase, lease back, make repairs, occupy as primary residence, I don't see how the repairs would count as a business expense. He's merely fixing up a house to move in to.

If, however, the pattern is: purchase, lease back, make repairs, rent it out, then occupy as a primary residence, I would be comfortable with looking at de minimis for the repairs.

Hope this helps,

Points for originality!

Residential assisted living can be a great investment. 

Not sure if you are looking for space or looking for a tenant. Either way, research the commercial brokers in the area, interview a few of them, and proceed with the one you believe will provide the most value.

@Anthony Dooley is correct. The sellers are withholding information that is crucial to making an offer on the restaurant. Therefore, you can't make an informed offer. 

Here are a few of the CRE related podcasts that I like:

The BP podcast

Joe Fairless - Best Real Estate Investing Advice Ever

Kevin Bupp - Real Estate Investing for Cash Flow

Peter Harris - Commercial Property Advisers

Jake & Gino - Wheelbarrow Profits

Spencer Taylor - The Commercial Connection

Best,