All Forum Posts by: Nicole Pinedo

@Dan Maciejewski hi Dan, I’m looking for a cash out refinance for a commercial mixed use property. Can you help me out?

@Oliver Carey hi Oliver, I’m looking for a cash out refinance for a commercial mixed use property. Can you help me out?

@Jacob Dawson Got it! The price for the building is 235k. Lease is 15 years. We would pay for roof and structure. I’m actually replacing the roof once i close on the property.

I was thinking of refinancing quickly in 1-3 months with a hard money lender that’s offering me. 6% interest, then wait a a little more (like a year or so) to refinance through a bank with a lower %. that would get me out of the original loan faster and have reserves, could also reinvest some of it into some flips to keep paying off the new refinance loan.

But thank you so much for your advice, it was helpful!

@Scott McElhaney it’s a triple N lease and the tenant is paying for the entire buildout. They’re also in the hospitality industry with a lot of experience.

My concern is more of the market and if i could still refinance and be ok. Another possible concern is if cyber quarantine period lasts years and not months. But i guess I should just wait and see what’s going to happen.

Thank you soo much for your help!! I appreciate it

@Jacob Dawson @Jacob Dawson Hey Jacob, thank you so much for your response.

Yes, the event space business would back the lease. They have a lot of experience in the hospitality space.

I guess my concern would be, are people going to be allowed to go out anymore, and would this affect their income. Also when I refinance, would the property appraise for way less because the commercial real estate market cap rates would rise?

I’m sort of torn but waiting to see what happens with the market.

I’m buying the property for 235k, it’s a really great deal for the space for the amount of land and area. With the lease in place the arv based on income/cap rate comes at 1.8 mil. But based on that, even if the market drops 25% i think i still would do pretty well.

What are your thoughts?

@Doran Summers I’ve been talking to Visio Lending. I’m pretty sure they still are

@Douglas Mcqueen thank you so much!

I recently got an offer accepted to buy a 13,000 sq ft commercial building in a good area downtown.

I have a tenant in place.

The property is a value add property that i will rehab for the tenant. My plan is to refinance it after rehabbing and stabilizing-the property. The tenant wants to turn the property into an event space, beer garden, and food hall business.

My concern/question is, with all this corona virus, do you think the prices of commercial real estate will go down significantly? Will the cap rates rise in a couple of months?

Should I back away from the deal?

Im a fairly new investor and this is my first retail commercial deal ...any input would help!