All Forum Posts by: Ken Naim

@Joshua Dickman Thank you, that does help. I'll pm you.

I'm purchasing a 3 story office building (37k sqft total) in the Orlando Fl area and my electric bill is $80k annually, with the monthly usage ranging between 48,000 kWh to 65,000 kWh. Has anyone found the ROI on installing a solar system to have a good ROI. If so what was the cost/size for your system. Did you pay finance it? Any links to a good calculator that'll determine, number of panels and required square footage. I've searched and so far only found residential and click bait sites. With a 12k sqft roof, I don't think I have anywhere near enough space to offset a significant part of the electric bill.

On the surface project solar, estimates a cost of $600k to fully offset the $80k in electric bills which is a 7.5 cap, not bad and considering that the NOI of the building increases by $80k, at a 6.25 cap, the building would be worth $1.3m more. I just don't know how realistic it is.

Any experience/input is appreciated. 

@Bob S. Bob,

1. In practice, no they never get called, unless you specifically ask them for permission or notify them after the fact.

2. There is no waiting period per say, but some jurisdictions take longer to record deeds than others, so waiting 30 to 90 days may make the process smoother but it can all be done right away. It just might not show up for a while.

@Justin Taylor anytime. I hear some markets are very competitive for hard money. Rates as low as 6.5% and no points, so it is worth calling multiple lendors. I recently found a private lender here in florida that'll do 7% loans to 80% ltv as long as your personal credit is excellent, so it varies.

@Justin Taylor these are the terms i got last year in florida. 12% interest only, 2 points, 12 months, renewable for an additional 12 months for 1 point.

@Matt Leber sounds like not only is your cash on cash low but your cash on equity is very low. In this case, selling is the way to go as a cash out refinance will make your cash flow negative.

@Dorothy Pang sorry you had to pay the penalty but glad you got it taken care of.

@Daniel Han for under 8% cash on cash and 20% IRR invest in a syndication where 8% coc and 12-18% is common amongst well known syndicators.

If your going to invest yourself then i recommend commercial properties with value add potential where 30%+ IRR is very achievable

My commercial real estate broker has direct contacts with some regional and national credit tenants, so it may be worth asking the top commercial agents in your market. Even if they don't know the people directly, there are web sites that'll list the property for those credit tenants to view and determine suitability.

Commercial property information is typically gathered by private companies that resell that data. Some local governments (city, county etc.) may have some of that data available but it might not be as up to date or in an easily usable format.