All Forum Posts by: Ronald Rohde

 I figure the price of the property determines whether it is $1K or $5K?

What’s the old saying @Scott E.?  If you can’t make the payments on a 100k loan you have a problem. If you can’t make the payments on a 100M loan, the bank has a problem.

I guess each bank gets to decide if they would rather accept the current terms and payments or accept a $10-20-$30 million loss by calling it due and trying to sell. 

These battles will be fought and decision will be made waaaaay above my skill/risk level. 

Thanks to all who replied! I got busy and just managed to check back in now. Sounds like I'm already leaning the way most are - don't use insurance for anything non-catastrophic.

That's a really good point about replacement cost, it hadn't occurred to me that if I want to rebuild, there's a business loss component as well. TBH in that case I'd most likely use the insurance money to pay off the loan and sell off the land. This isn't my primary source of income, and the logistics of executing on a rebuild sound like more trouble than they're worth.

Just an update here.  I looked at some Industrial in Southern Virginia.  I decided not to pursue it after kicking the tires.  The building was not currently divisible into smaller bays so it would have been a single tenant use which would take longer to rent out.  Second the egress/exit was not ideal to get back on the main highway.  The last reason is that the area did not have enough density or demand for the smaller size spaces that I would be looking for. 

Right now looking for contacts to discuss prior to vetting out the project. Do you have contact with any managers or investors in the industry you can connect?

@Ray Malave Yes, you should so you can have the right to back out of the deal if it does not work out as you plan.

In Texas, we typically do 5 to 7 days at $30 per day so for 5 days, it will be $150.

This is real estate any everything is negotiable.

Goodluck