All Forum Posts by: Eric Jacobs

@Jay Hinrichs could not be more right.  The right time to get into real estate is always NOW but its a question of where and how.  There are many ways to invest and right now I am totally bullish on hard money lending and other means by which you get a reasonable return while someone else takes much of the risk.  Investing is not just about cash flow. The long-run successful investors appreciate the concept of capital preservation.  Good luck

Is this a regulated offering?  Sounds like it.  

Is this Kurt’s listing on loopnet?  

Congratulations. Your science background should be very helpful to you in taking a disciplined approach.  My only advice to you is be careful and apply the same intellectual rigor to your efforts that you do your profession.  There are a million ways to make money in the RE business.  There are also a million ways to lose money.  Good luck 

This does not seem consistent with anything I have seen.  I represent quite a few hard money lenders and while they do at times charge for underwriting, candidly, they don’t even need an appraisal. Even if one is secured that price seems staggeringly high and I live in South Florida.  I think you are right to be concerned. There are certainly lenders that are in it for the up front fees.  The only basis upon which I could understand the logic of a national appraisal company costing more (not that I agree with it) is that they are farming it out to an on the ground appraiser and everyone gets a piece.  I don’t know anything about these folks you are referring to but I would urge you to proceed with caution if at all.

The above is for informational purposes only and is not intended as legal advice.  

While none of what follows should be considered legal advice (sorry I have to say that as I am a lawyer), it would be terribly ill advised to put a property in your own personal name.  Liability protection is certainly one feature.  Another is the reality that as an individual landowner you would be a more attractive target in my view for potential litigation.  You will also be limited in your ability to get certain types of financing .. there are federal tax benefits, I could go on and on.  There is a reason why people do not put properties in their own name 

As for umbrella policies, they are so inexpensive you should have one anyway.  

Respectfully I don’t agree with all that is set forth above but I do agree that this decision analysis is not a reason not to do something.  It sounds to me like your best bet is to spend a few hundred dollars to sit with a lawyer in your neighborhood that knows what they are doing.  BP is a great place to get real estate and business advice but not legal advice and this is definitely a question for a lawyer

Good luck 

Figure out where you are.  Figure out where you want to be.  Figure out what you can sacrifice to get you there.  Once you’ve done that, meet the right people who will help you leverage your most valuable asset as a new dad (time) . Without doing the above or following a disciplined approach to your objectives analysis..you are likely to have a tough time...

“If you don’t know where you are going, any road will get you there”.

Good luck 

I’m interested .  Can you send me additional photos?  

I'm interested .  Can you tell me what you have about the property?  Soil studies, land use analysis, etc...?

Marilyn you may want to provide some details of the deal so other members can evaluate if they may want to get involved.