All Forum Posts by: Prithvi Sri

@Cason Acor this is great advice. I was thinking along the same lines because what these agents are doing is hurting their clients - a clear violation of their fiduciary responsibilities. I sent the LOIs through Crexi for several of them and through email for a few of them. I will go back and escalate to their management up the chain.

And also I agree many of them are probably out of the market but not updating the listing is a gross waste of everyone’s time evaluating the properties - I would rather spend that 30 mins on a different property that’s available in the market.

Thank you.

I recently purchased a commercial real estate property and on the verge of closing. I am interested in investing in more properties so for the past three months, I have been constant on the look out and looking for properties on Loopnet and Crexi. For any property that looks interesting, I am sending the broker an email and if I don't get a response, sending an LOI and proof of funds to qualify my intent to purchase. Here is where I am getting frustrated. More than 75% of the emails and LOIs are going unanswered. I am scratching my head as to whether the property is sold and the listing services aren't updated, or the broker is just plain lazy and doesn't care. And almost all of these brokers are representing big name companies like SRS, Marcus & Millichap, Horvarth... etc.

This also makes me wonder if I should ever engage a broker when I want to sell my property in the future? If all they are doing is listing it on Costar and Crexi and twiddling their thumbs, why can't I just do the damn thing myself? If they aren't responding to interested buyers, they are being nothing but cockblocks - I am probably better off selling it myself. 

Now that my rant is over, how do I get better response to my queries from these brokers? My apologies in advance to all those responsible and responsive CRE brokers who are good at their job. Obviously you are a minority - based on my anecdotal experience.

Not now but back in the 2005 rush times, I did. Bought with 5% down and got my own 3% RE agent commission, 2.5% commission as  my loan agent.  So it was technically a cash out purchase but not a pure investor play. I had to throw in my broker and loan officer hats as well.

I recently sold an investment property and buying a restaurant building in exchange through 1031 . The relinquishing investment property was on my name which I bought many years ago. Now that the investment has grown into a considerable amount of money, I would like to put it into an LLC. So the question is, how do I transfer a 1031 exchange replacement property from my name into an LLC?

@Joe Villeneuve tell me how.

@Deisy P. We have eight single family rental properties that my wife manages. I don’t get involved and for the most part, the tenants don’t even know me. She manages them all and manages well. She doesn’t give **** but gives twice back if she is given ****. She respects her tenants and commands respect from them. Never did it occur to me that her being a female was any relevant on her management. If anything I always thought her being a woman made it easier because she has better emotional intelligence (compared to me).