All Forum Posts by: Brian Metz

Hi Angel,

I'd agree with everyone above in that relationships and networking are key. When I'm researching a market, I'll utilize listings to identify the brokers that seem to be making the most deals (in addition to Google research of course). Calling them up and making introductions is a start. I usually get on their distro list for new listings as well. While these aren't off-market deals I find it helpful to gauge what's moving and at what prices/caps. While I never trust them fully, offering memorandums are a great place to start. Additionally, you noted residential websites - take a look at LoopNet if you haven't - they're not off-market deals, but it's the Zillow of the commercial side.

Cheers,

Brian

Hi all, I'm also jumping into the BP network and am fairly new to the Fayetteville area. I'm overseas at the moment, but when I return in late Feb one of my goals is to attend REI meetups in the Fayetteville and Raleigh-Durham areas. Great reading through the various posts/forums - I look forward to it and hope to meet some of you smart people soon!

Cheers,

Brian

Hi Vernon, I'm also in the Fayetteville area and looking to network. Currently overseas at the moment, but when I get back my goal is to get involved in REI meetups and such. How did the close on your first deal go?

Cheers,

Brian

Thank you all for the replies! Very much appreciate the insight, experience, and guidance. I will keep you posted how it turns out and investigate some of your suggestions.

Cheers,

Brian

Hi all,

Fairly new to BP and real estate investing. I'm currently under contract for a set of 3 duplexes on a single lot zoned commercially. The current owner is a GC and rehabbing two of the units (which will be finished upon closing). The other 4 are occupied but rents are below market value. I had trouble initially finding a smaller bank to potentially do business with and seller financing was off the table. I submitted an application to Wells Fargo, but was rejected due to the property debt service. Being it's a 33% vacancy and the rents are below value they said it's a no-go. Currently back to the drawing board and looking for options on financing. I know hard money is out there. Maybe a bridge loan? I do have cash to purchase, but would prefer not to do that (I believe there's some cash out refi options available though similar to the Fannie Mae?). This is my first commercial venture. Looking for any thoughts/recommendations ya'll might have come across before or anything I'm overlooking here!

Cheers,

Brian