All Forum Posts by: Ronald Rohde

Those are unpopular loans for most commercial lenders. Underwriting and fixed costs are the same, but with much less in fees for the lender.  I'd say yes 30-50% down, it depends much more on how the condo org is being run, reserves, late pay, etc.

Credit unions and your current bank will be your first stop to ask them. bring a specific property to help anchor your discussions.

Lenders are generally reluctant to lend on vacant land without cash flow. Do you have 2-3x net worth of the loan amount? what do you plan on doing with it? develop or flip?

Typically you can make an offer on your own. If you want a buyer's rep, find the guys who are listing multiple buildings in your market, reach out to them for a buyer's rep.

A lawyer can also write up the LOI and guide you

Construction schedules, GC or appraiser estimates, land values, its not the most precise.

Sounds like a scam.

Check Adventures in CRE, they have both templates for SS. You can fill in all the unit counts/mix. Who's your lawyer?

Its on loopnet now. Price is steep, parking is tough, insurance, law office or cpa is really the best use.

https://www.loopnet.com/Listin...

Lease option should not supersede the rental, still two different concepts, otherwise if he doesn't pay the option fee, you can terminate his lease? If its not valid, I think the original lease is still effective.

Is this business or charity?

Seems like a good market, what are you interested in?

Why not find a tenant rep broker? They are much better suited to answer local questions on the market.

I'd lease first, theres too much of a leap to owning that you don't know yet.