All Forum Posts by: Corinna Woodcock

Hello. I’ve only had my Pro membership for a few months now. Not convinced it’s worth $390/yr and want to cancel before it auto renews. If I cancel it now will I still get the full year I’ve paid for before I lose access? Or will I lose access and get a refund for the remaining year? 
Thanks 

Corinna

Randy, Thank you for this information. While it is much more than we expected to pay, it’s good to know it’s probably typical. Cheers!

Hello!

We were just hit with, what I feel is, an exorbitant tax prep bill of $1850. It's a new LLC with just one NNN rental income source. This cost equals 5.5% of our gross income for the year (nearly 2/3rds of one months income) and I am wondering if that sounds right? Should I be looking for another CPA?

In rereading the group guidelines, I see that online meeting are recommended.  I can set up a Zoom.  

What days/times next week look good for each of you? 

Corinna

Thanks Ronald! Much appreciated.  

Hi Nikolas, welcome! 

This is a link to BP's Mastermind group guidelines.  A meet and greet, perhaps coffee at Stark Street Station one morning next week with Stewart would be a good start!

https://www.biggerpockets.com/...

We've been considering Vancouver, would love to hear more about opportunities there.  

Corinna

Hi Stewart, 

So glad you saw my post and are interested in forming a Portland Mastermind group. BP had initially paired me with investors in California which made no sense so I left the group. I've copied/pasted their group guidelines link below. Let me know if it works ok.   

https://www.biggerpockets.com/...

Introductions... I'm relatively new to investing. I've bought and sold 2 properties over the last 10 years and currently own one NNN commercial property with a Partner. We were excited to buy our second in 2023 but the Fed has squashed that enthusiasm. I've been in Portland for 8 years. How about you?

Hi. If you are in Portland Commercial Real Estate please introduce yourself. I am looking to put together a Mastermind group to discuss strategies and solutions for investing in 2023. Cheers!

Hi John,  Thanks for the questions. Cap Rate is 5% and we have another 1.5 years until their lease renews. They have been at location for 15 years and their business model thrives in struggling economy so we're confident they will renew. If they don't, we have solid ideas for what would work well in the location.  

Investment Info:

Retail commercial investment investment in Portland.

Purchase price: $610,000
Cash invested: $610,000

Covered land play with a NNN single long-term retail Tenant. Zoned for multi-family development up to 5 stories.

What made you interested in investing in this type of deal?

Decent cap rate, great zoning, appreciation of land value for future multi-family development.

How did you find this deal and how did you negotiate it?

Business Partner/Mentor connections.

How did you finance this deal?

All cash

How did you add value to the deal?

Counter-offer $50K down after inspection findings

What was the outcome?

Accepted

Lessons learned? Challenges?

In the third round of counter-offers the Seller dropped two closing extension options for 1031 exchange on us. We agreed to get our lower offer price but ended up paying all cash because interest rates blew up during that period and it no longer made sense to finance.