All Forum Posts by: Benjamin Haberman
Benjamin Haberman has started 30 posts and replied 174 times.
Post: Speaking at my High school Career day
- Real Estate Broker
- Ocean View, NJ
- Posts 188
- Votes 82
Originally posted by @Mindy Jensen:
@Benjamin Haberman, The Magic Doubling Penny is always a good example.
Would you take $1 million today, or a penny, doubled every day for 30 days?
Most people see the $1 million as the obvious winner, but the doubling penny on Day 30 is worth $5,368,709.12.
It illustrates the power of compound interest better than any other example I know.
http://www.budgetsaresexy.com/2014/03/penny-compounding-interest/
This is golden!!!!!!!!!! Thank you!!!
Post: Speaking at my High school Career day
- Real Estate Broker
- Ocean View, NJ
- Posts 188
- Votes 82
Hello!
I was invited to speak at our high school career day, which is this thursday. I am speaking to high school seniors and plan to talk about buy and hold investing. I was thinking of explaining how I figure out my deals (napkin method), but I am thinking this is too much for them. I might end up just talking about my flips. I don't know. If you have any ideas, please let me know. I am 33 and forget what its like to be a senior in high school! Thanks BP!
Post: My "First-ish" Flip - Success!
- Real Estate Broker
- Ocean View, NJ
- Posts 188
- Votes 82
Real hardwood?
Post: What's your view on the pros/cons of using real estate agents?
- Real Estate Broker
- Ocean View, NJ
- Posts 188
- Votes 82
Originally posted by @Michelle Fenn:
Go right ahead and think you can do a better job than a real estate agent. Instead of searching for properties for investors I found a partner that is successful in raising private capital. It has become the perfect team, I steal them, he funds them, we oversee renovations and I sell them staged.
Nothing better than being honest. lol
Post: Can I be sued by the buyer and realtor?
- Real Estate Broker
- Ocean View, NJ
- Posts 188
- Votes 82
Why would you ever do this?
Post: Campground
- Real Estate Broker
- Ocean View, NJ
- Posts 188
- Votes 82
Bob,
I apologize if my tone came off as competitive. To be honest, I am new to commercial real estate, so your input is very valuable. Thank you. My original quote, "They would sell it for $12.5 Million but the deal still works out to be a 5.23% cap rate at $14 Million". I was just trying to say there was wholesale potential and even at a $14M sales price it was the equivalent to a 5.23% cap rate. I was saying that is a good thing and leaves a window open for whole sale. But I will admit, maybe that is a far fetched way of looking at the deal. Regardless, thanks for all of your input.
Post: Campground
- Real Estate Broker
- Ocean View, NJ
- Posts 188
- Votes 82
Matthew,
Right. But wouldn't it be worth it to put it under an option contract, then market it? I am trying to strategize so once I go out to the commercial brokers, I have rights to the property first. Maybe you are right though. The owner made it very clear that he didnt want to list it because he would lose business if tenants found out he was getting out. I agree with him there.
Post: Campground
- Real Estate Broker
- Ocean View, NJ
- Posts 188
- Votes 82
Bob
The NOI is $732200.
$732,200/$14,000,000= 5.23%
now when the puchase price decreases, the cap rate increases. When the purchase price changes, that doesn't affect the NOI
$732,200/$12,500,000=5.86%
How am i wrong?
Post: Campground
- Real Estate Broker
- Ocean View, NJ
- Posts 188
- Votes 82
Bob.
Getting off subject, I was asking about wholesaling a campground. Not sure where you are confused here. The NOI stays the same. If purhase price decreases, cap rate goes up . Am I wrong here?
Post: Campground
- Real Estate Broker
- Ocean View, NJ
- Posts 188
- Votes 82
@Account Closed sorry I didn't clarify. The cap rate is larger at a purchase price of $12.5M