All Forum Posts by: Account Closed

What kind of commercial property are you talking about?  Sales, not leasing sounds like?

I owned a salon from 2001ish to 2010.  It's still in business, although we lost all of the profit in that business with products ending up at Ulta and Walmart.  The idea of the salon was that the booth rental from the stylists would cover all the overhead and the product sales and other things I had there to purchase would be the profit.  I would say it depends on the building class, as if the rent is too high for the stylists in a recession they can easily pick up and move to a cheaper location.  Research that and be in the middle to lower end on the rents and if that works then salon suites is not a bad setup.

I'm available if you still need a good referral group!  

No, but you are very limited with who will see it if it's not on Loopnet. I'd say it really depends on the size of the property. The best marketing may be off market with a Broker with a network for your property. What type/size/price/general area? I have a $950k building, a $1 mil building and a $749,000 10 Plex on. In retrospect I'd have kept the 10 Plex off and sell any Multi-family via my network. I'm heavily developing the network direct to business owners for the two buildings, they are similar size/type so that allows me to target easier.

My Costar is $426 a month for Phoenix market.  That doesn't include listings, they are additional.  This is for Broker access, I don't know otherwise. 

Not even just beginners.  I have an agent friend who has been doing property management and grew up in the industry.  Her and her husband took some cash after consolidating households and bought an out of state property.  They are getting their butts handed to them and it's not pretty.  She is very intelligent and thoughtful, so it happens to even people in the industry.  

As a real estate broker I keep seeing people who need traditional financing and don't have cash (they think that borrowing against their line of credit on their primary house is the way to go) and want to buy these deals... The problem is a TRUE value add property will typically be a wholesale purchase and wholesale purchases are CASH or HARD MONEY.  These same people refuse to use hard money, with the idea that they will fix it and then refi to perm financing.  They think that it costs too much for hard money.  They also think they are going to have all this instant upside, which is possible but not easy and not without signing a Buyer Broker Agreement with an agent who is connected and will then focus on finding them a good wholesale deal.  If you want my good wholesale deals then you need to have cash, use hard money and commit.  Otherwise, find the deal and make the relationships yourself (and that's easier said than done if you don't have a serious amount of time and energy to commit).

I'm estimating figures and this is a property I am selling, not buying.

View report

This property has a roof that's less than a year old and all new exterior stucco, paint in and out, new framing and all new doors, fixtures, kitchens, flooring.  

*This link comes directly from our calculators, based on information input by the member who posted.

Tempe is a hard market, you will pay a premium.  It's a great area, but tough to find a property in.  I would say this depends on your housing needs and your price range.  I've done residential in the Valley for 20 years now all over.