All Forum Posts by: Priyanshu Adathakkar

@Kevin Wattenbarger I did see you are a Broker and was surprised to see the post. Let me clarify 1) I, for example, would do my due diligence first before making an offer on behalf of a buyer if I am not satisfied with the clients ability to close a deal, I'll not make the offer. 2) If in doubt, I would make an offer with a substantial amount in earnest money that goes hard on day one. 3) Most experienced CRE agents here in Columbus follow this regime if you ask me for any of the crap that the seller may require to make my client stand out in seller's mind would be an insult!

I had a seller send me a questionnaire asking for information on what kind of improvements the buyer would do on the property after he buys it and how much he was willing to spend!!! My response was that he planned to donate it to the fire department for their fire drill and it would be burnt down! I also sent him a counter questionnaire asking him how he planned to spend the money he received from the sale. I think you get the point. 

If you are an experienced investor with good credit and if you are looking at a good deal, you do not need any of this crap! All you need is a good agent (licensed) in your area who can speak with your lender about the deal! Just my opinion, but people peddling advice on a podcast and in seminars have no clue about how the real industry works. I have a lot of people come to me after having gone through one of these "enlightenment" sessions/ training and all I have to say to them is "good luck" and here is a number of somebody who will sell you down the river in the guise of helping you!   

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Redevelopment is complicated, engage a broker who has experience with such projects and who can cast the net far and wide. Do not get stuck with one developer! Explore all options including an outright sale and joint ventures. Good luck.

So you are looking for free service? The broker needs to get paid for his time and efforts and just like in residential deals the seller/lessor pays not the buyer/lessee.  

@Kirsten Ostby there is a big difference between a residential Realtor and a Commercial Realtor, if you are working with a residential person you are better off on your own as you are likely to make the same mistakes but without having to pay a commission. A commercial person can help you build in the commission in the offer price and make it part of the closing costs.

Hi Kristen,

As a buyer, you do not pay the broker anything if you are not even aware of how to calculate a fair price, in my opinion, you are way over your head! Buying - selling commercial real estate is very different from residential transactions. Goodluck.

Pri 

Here is an example, you can adjust the purchase price to vary the CAP rate

These are a good investment and have one for sale in Ohio!

Sure, do you expect to buy property in Dublin, UA or any such area for under 100 K? Call me I have Buckingham Palace listed for $1! Cash buyers only, LOL