All Forum Posts by: Lee Price

 we are looking for partners that wants to share in the equity and received a PRR investment.

Hello Bp we are looking for some partners for a new development in the University city subdivision of Baton Rouge Louisiana. This is phase 1 of 3. We have secured the land debit free also Southern University, and The East Baton Rouge Redevelopment Authority is behind this project. We are planning 85 units multi family and 4 units of retail for the first phase we have a full survey completed as well as Executive summary with financials. This is a great opportunity due to the market area is wide open. There is virtually no competition. With great companies literally minutes away Exxon mobile, airport, coca cola, as well as the University. We have about $500,000 invested at this time so we have some foot in the game, and will invest more. We also have mezz funding going live in sept. I have all documents available for review on this opportunity. Please contact me if interested.

 Yea you might be right it help me out a while back, so I was thinking about buying one for a friend I have interested in commercial investing. 

Hello Bp we are looking for some partners for a new development in the University city subdivision of Baton Rouge Louisiana. This is phase 1 of 3.  We have secured the land debit free also Southern University, and The East Baton Rouge Redevelopment Authority is behind this project. We are planning 85 units multi family and 4 units of retail for the first phase we have a full survey completed as well as Executive summary with financials. This is a great opportunity due to the market area is wide open. There is virtually no competition. With great companies literally minutes away Exxon mobile, airport, coca cola, as well as the University. We have about $500,000 invested at this time so we have some foot in the game, and will invest more. I have all documents available for review on this opportunity.  Please contact me if interested.  

And I need the guide for commercial 

I definitely will be speaking to the owner about the rehab. Also how do I go about verifying rent roll and also what about the tenants security deposits etc.. the owner hasnt kept records or anything like that. 

I'm not interested in holding a D class property so I more then likely just flip this deal,  most of the tenants have been there for years, the property is located very close to downtown Houston and the owner was originally at 500k now I have him down to 400k trying to get a contract for closer to 350k. What do you guys think? 

Thanks Jean,

Also I found out the property also went under a major rehab down to the studs. City inspected and permitted  

Hi,

I have a seller that called me from one of my direct mail campaigns and he has a very well kept 9 unit property located in houston TX that he states is getting 650/mo 100% leased, the units are all 3b/1b with w/d and central ac/heat. Owner has owned the property for 20 years and hes just burnt out. Question is how do I evaluated his expenses (20%, 30%,40% of GSI) ? He hasnt kept records but from the looks of the property it is well maintain also what do you think this property is worth? Located in a class D neighborhood but its the best property on the block also rents in the area is around 750-850 for a 3 bedroom. The city is also doing major road repair on the street the property is located. Thanks cant wait for feedback.