All Forum Posts by: Jody Newman

My wife and I just listed the last of our sfr’s in Gwinnett County. It’s in a very up and coming neighborhood with a new hospital less than a mile away etc. we listed it below the “Zillow” estated 176k for 169,900.
We’ve had plenty of interest, but haven’t accepted anything as of now. My real estate agent says you have an offer at 155 and they want this and that and this... “cash buyer”. I told him not even to respond with this lowball crap.
We’ve had full price offers already, but will wait until tomorrow mornings showing to ask for highest and best.
I’m not a flipper, but is this how it goes with investors looking to buy an investment property? I guess people will just throw junk out there hoping it will stick.
Ye, I do understand that this is what most of us do, lowball, but that’s an embarrassing offer even though the percentage isn’t that far off.

I'm curious what @Joel Owens has to say, but I can't see why a "newbie" can't do this.  Now, "newbie" and "small fry" are two different things, in my mind.   To buy a $5 million property, you need a serious down payment and the ability to qualify for that loan.  I think that means something north of $1.25 million down and $5 million net worth.  But if you can swing that, I think its entirely possible to buy a Walgreens or McDonalds.  If you don't have two nickels to rub together, you're not going to play in that space.  I also don't think this is a space for no money down deals.

There are brokers that deal in these properties.  I used to get e-mails from one until I unsubscribed.  I don't recall any Micky D's but there were several WalGreens and similar properties.  My concern with these (besides the size of the deals) is what happens if the tenant declare bankruptcy.  Many of these building are pretty dedicated to their specific client and you could be left with nothing but a chunk of land

This kind of complicated deal is mind bogging. I know you want to help an older lady. My take is she needs to live in an assistant housing. If she is not willing to explore do not waste your time. Move on. You are not her social worker.

That is great Bo. Another tip when searching for corporate guaranteed "high" cap rates in CA, is to take a look at B and C markets throughout the state. 

For example, a new construction STNL Starbucks in an area like Chico could trade at a higher cap rate than in Thousand Oaks. And, the caramel macchiatos are still the same price.