All Forum Posts by: John Moon

Thanks all. Yes this helps keep me grounded. I don't want to jump on the 1st bus that comes b/c it's going somewhere. I need to be patient to find the right deal that fits my criteria!

@Patrick Hermans Thank you. That makes sense and thats what was my understanding. What kind of information do you share with sellers?

@Ivan Barratt You are absolutely right. I need to stay true to my criteria and not be so hasty... Man it's so hard though, once you get bit by the bug :D 

I began looking into commercial multi family 8 - 30 units. I have a criteria that i'm looking for. However, I'm having mixed feelings on how these sellers are valuing their property. My understanding was they base price based on the current rent that the property is producing. However, I'm seeing many listing that are counting vacant units and on top of that they're pricing it at market value instead of the highest rent they're currently getting. 

How are we supposed to value commercial multi-families? 

For Fannie Mae /Mac loans if I deed the loan from personal to llc would they not call back the loan? 

I have a 1 triplex under a LLC. I'm in a situation where I want to refinance. If I want to keep the property in a LLC, in order to have the separation benefit. What are my different loan options? What type of loan do you recommend?

@Dave Borrero  can you send me more details [email protected]

Hi @Stephen Chatto can you send me more details [email protected]

@Dave M. can you send me more details on the property [email protected]

I thought about this more, and it could be the tough NJ market. There are lot of buyers but not enough deal properties. This could mean I need to begin looking out of state, or at least my immediate area.  

One thing I also thought about is, I have this mentality of of "I need to make this deal work" with these off market deals. But maybe they weren't a deal in the first place. And it truly is a numbers game and I simply need to make more offers. I can't stop because I have one owner giving me a call. I need 10 owners to give me a call and maybe i'll get 1. Not every call is going to be a deal. 

Thanks for sharing your thoughts!

I've been doing mailers and getting some response. However, I'm hitting a wall when sellers are not willing to negotiate their price. I tried getting them comps, and reasons why it would cost $X amount (even when units need work). However, they just say "no sorry this isn't going to work". 

I also tried getting the seller to do a seller finance and hold a note for a higher amount, but they're not interested in that either. *Maybe I'm not presenting the seller finance route in an attractive way.  

What are some tips you guys have when speaking with sellers?