All Forum Posts by: Brian Serina

Hi Jack

my 2 cents:  at first glance they seem to be connected but they aren't.  Lease to run your busines and make sure you can use the Off Space as you intend to do so.  Easiest and cheapest.   Find the best place to accommodate your business.  Try to get (and you should be able to) FSG. Full Service Gross,  not nnn-not for office

Buy an OfficeCondo???   They make poor investments, and yes you now are an investor, unless you can get in real cheap.  Think exit plan.  If you could buy a four to say a six unit office building and then you are a tenant, imo that w/b better (makes better business sense-single unit investments make lousy commercial nvestments, low roi).   That being said, find a closed down run down free standing restaurant building, and buy that (low offer). I have seen these denny's and baker's squares shut down and the owners try to re-lease and they sit vacant for a long long time since they try to find another restaurant to go in.  Find one of those that has been sitting on the market for lease or for sale for awhile.   Make a low offer to the owner.  We just had this done in our area (Sac).  A mexican rest went out of business, the property was foreclosed on, sat vacant for sale for years and someone just bought it cheap (but not as cheap as I would have...).   I tried to convince several dentists to buy the property but they just didn't see it.  The new owner/investor is now reconverting it to four office suites, 1000 sq ft each.  You could do that and you lease one unit to yourself and immediately you w/b 25% occupied.  Just sayin'...

Hi Torey

On average, you can find MF in a wide range of cap rates, it really depends on the property, where it is located, deferred maint issues, and even number of units - there are lots of four plexes at 4% whereas you can fi d apt buildings at 7 to 7.5%.  That being said, Sac even has one close to a 9% which IMO s/b a 20% since it is such a wreck.   So...no one single answer would be adequate but you can find some decent ok deals at 7 or above.

greetings Anthony.  I am here  in the Sacramento area too.  Joined BP not too long ago and find it very interesting.   Welcome.

Hi Sunny

welcome to BP.   Interesting market here in Sacramento.   Strictly residential / multi family or are you looking at commercial stuff also (strip centers, medical) ?

hi, lots of good stuff on the forums.  Do you do anything in the Sac area?

 My 2cents:  get the degree.  Don't wait, go for it.  You can do both in a balanced approach.  While getting your degree, try to hook-up with a good patient broker that you can work with while working toward your degree.  You can earn decent referral income too which can be a good source of additional income - i get a decent portion of leasing income just from people referring friends to me that they want to lease a space in a retail center (I do commercial leasing too).  Just need a name and a phone #.  And that can supplement your r/e experience and since you will want referrals once you go full-bore into r/e you will have seen both sides of the equation (referrals are leads generation).  

 In my biased opinion, Folsom to EDHills area is #1.  The worst area in Folsom is better than the best area in other places in what is coined 'the Sacramento area".   Always consider traffic.  It is not what it used to be however - lots of trafic now in the morning.   

Davis is an interested place.  I am working on some business leases there and in general the place is not all that friendly to business.  

 How do you want us to send you these questions?  Just reply to this thread?  Separate PM??   Thanks for your energy & initiative in all of this!!

 Folsom is a nice area, one of the better ones to live in the Sacramento area, in my opinion.  It's a growing area, that's for sure, and it has one of the best tech companies right here.