All Forum Posts by: Robert Harpster

Curious to see how this turns out. Keep us posted!

Looking at a 4400 square foot commercial property (2700 office and 1700 warehouse one roll-up door) single level. Currently occupiedby a national tenant who will sign a three year lease extension with an option. Tenant has been there since 2010. Current rent is $3100.00. Tenant is responsible for utilities. 

The asking price for property is $350K. 

The TPO roof was replaced in 2019 and gas and electric heat pumps were upgraded in 2016.

Cap rate appears to be 10.6%. 

Would appreciate any thoughts on this deal and questions I should ask. 

Thank-you!

Looking to connect with other members doing commercial office/warehouse deals in WA state under $750K. Mainly to share advise, ideas, and experiences.

A quick review of a reputable notes for sale site shows 183 available single assets (Mortgages, CFD, Deed of Trusts) for sale. Total of 26 pending sales. Not included pools of notes which totaled I think 5.

Performing - 132 available where 19 are 2nd's / 21 pending sales (19 are 1st's) 

Non-Performing - 51 available where 12 are 2nd's / 5 pending sales (2 are 1st's)

There appears to be some good notes available so are buyers in a waiting pattern? Is the current court backlog in getting FC done a factor?  Are they buying notes from other places other than the note sites? 

How many notes have investors in this forum purchased in the past 60 days? 

I've corresponded with a few from this site who have said they are getting out of notes due to the work and capital involved. Another has said that they haven't purchased due to a few PL going NPL and they are involved in working those out. 

Curious what other's thoughts are.

@Chris Seveney

Thanks Chris!

@Scott Kimberly

Completely understand. Glad to hear you will stay on this path. Learn as much as you can so when you are ready you'll be prepared. 

Best of luck to you!

@Scott Kimberly @Bill McCafferty @Chris Seveney

Such a great thread here! 

So @Scott Kimberly did you end up buying a note? What has happened for you in this past year with regard to note investing? 

@Fred Moskowitz

Stumbled across this thread and really enjoyed reading the comments. Very helpful for the new note investor. 

Wondering about the outcome of this? Is a license required to purchase a note in Maryland?

@Mike Moore

From 4-6 years ago? There is plenty of really current discussion here on note investing, strategy, returns, etc. If you search for Notes or even Note Strategy in the search field, you can sort content by latest or most current. I know personally there are lots of opportunities for smaller notes that the bigger guys aren't interested in. But as I have been told from many of the Pro's here "Whos's the seller?". In other words, know who you are buying from. I am just beginning in the note space and so many here have been really great with information! 

Good luck!