All Forum Posts by: Michael G.

This ones's a no brainer : Hit the road, jerk-off! 

One of the administrators DELETED my simple, on-topic comment. Wow!  Now I've seen it all!

This thread is specifically about "Allowing Fire Arms" in our Properties. I voiced my opinion about it. I insulted no one, used no offensive language, leveled no accusations, and didn't even mention any names ....   And my comment was deleted? 

Administrators?  Care to explain?    (You can't support only the 2nd Amnd, but not the 1st Amndmnt!)    Crazy, uncalled-for censorship. 

@Thomas S.  - You can never know what a Tenant really does behind closed doors, but at least I can spell it out clearly in my Lease.  Material breach of Contract/ Lease is grounds for eviction. (Thank God we've never had to deal with this, mind you. We rent very carefully, and our Tenants are wonderful. Knock-wood, we've never had an eviction or even a major problem.) 

@Shea Spinelli 

If you PM me, I can send you a sample XL spreadsheet that you can customize that we use to apportion the expenses among the Tenants .. Works equally well for either Gas or Water.

@Shea Spinelli

No company...  We just do it on our own! It really is that easy.... No need to overthink this!  

@Matthew Teter  @Joe P.  

Gentlemen:  This is supremely helpful.  Greatly appreciated.        Matthew, either I or a colleague may reach out shortly to chat if you don't mind.      Thanks!

Hello Fellow BP'ers! I am a Brooklyn based investor currently weighing an opportunity in Fishtown. Specifically, near the Frankford Ave/Richmond St intersection.

Since I am completely unfamiliar with Philly (I've only been there a handful of times - all 12+ years ago) I'd greatly appreciate your input on this location.

Here are some basic questions I would love to know your opinions on, if you would be so gracious, but would greatly appreciate any insights you were willing to share...

1. Solid upside for Ground-Up? (Assuming expert construction mgmt & decent cost controls)
2. Any downsides or extraordinary risksthat you anticipate or forsee? (Zoning, Regulations, Taxes, etc..)
3. How does the trend in the demand curve look? Trending up? Starting to soften? Near the top, or still upside?
4. Is the market over-saturated with supply for Residential? How about commercial?
5. What are Resi / Commercial rents per Sq/Ft or for 1 / 2 BRs in this immediate area now? Are they trending up or down? Why?
6. Vacancy rates? Trend?

Also, If there are any commercial / resi brokers here willing to chat, pls PM me with your contact info.

Thank you all so very much! 

Hello Fellow BP'ers!  I am a Brooklyn based investor currently weighing an opportunity in Fishtown. Specifically, near the Frankford Ave/Richmond St intersection.

Since I am completely unfamiliar with Philly (I've only been there a handful of times - all 12+ years ago) I'd greatly appreciate your input on this location.  

Here are some basic questions I would love to know your opinions on, if you would be so gracious, but would greatly appreciate any insights you were willing to share...

1. Solid upside for Ground-Up? (Assuming expert construction mgmt & decent cost controls)
2. Any downsides or extraordinary risks that you anticipate or forsee? (Zoning, Regulations, Taxes, etc..)
3. How does the trend in the demand curve look? Trending up? Starting to soften? Near the top, or still upside?
4. Is the market over-saturated with supply for Residential? How about commercial?  
5. What are Resi / Commercial rents per Sq/Ft or for 1 / 2 BRs in this immediate area now? Are they trending up or down? Why?
6. Vacancy rates? Trend?

Also, If there are any commercial / resi brokers here willing to chat, pls PM me with your contact info. 

Thank you all so very much! 

@Ernesto Hernandez    Loans have different priorities. 

A typical "Top-Priority" Loan, such as a conventional bank mortgage, and all 1st Lien Loans, are in the "1st" position and thus are the 1st to be repaid in the event of a bankruptcy/default and a subsequent deed transfer/foreclosure.

All other "Subordinate" loans, "Junior Loans" or "2nd Lien", or "2nd / 3rd Tier" loans come next in line for repayment after a default / foreclosure IF (and this is always a really big "IF")  there happens to be anything left after all fees are paid and the 1st lien-holders are fully reimbursed.

This is what makes 2nd Lien loans much riskier. Usually, they pay a much higher rate of interest as a result. 

Scaffolding on top of & updating what I mentioned above (and re-emphasized elegantly by @Charles Kao):

If it's one of your first ever real-estate deals, and, it's a long-distance remote deal, and, you're not even at the closing-table,  the patsy is most definitely, most certainly,    YOU.