All Forum Posts by: Robert Scholl

Thanks again Joel for the explanation. I realize that ZCF doesn't have NOI now…didn't put 2 and 2 together at the time...I was going by what the sales ad numbers listed. They listed the NOI, cap, and asking price in the ad. It takes someone with experience and knowledge to pick out the details and realize that this is a ZCF deal. Plus, there's no land ownership, just the structure….that doesn't really make sense to me as being a good deal either.

Thanks very much for the information. That explains a lot and, yes, the cap they are stating is 8.78. You're right on the money, so to speak I will pass your information along to my friend. In determining a valuation of this property, whether the asking price is reasonable, a discounted cash flow analysis is obviously better than just looking at the asking price, NOI, and cap. I ran an analysis out to 10 years with lots of assumptions on income growth rate and discount rate of course, but the PV is about $1M less than their asking price. This doesn't include any kind of future sale proceeds, just purely cash flow, but based on the reported NOI, so if you take into account debt service and taxes, that value will likely be even lower. Does that sound right?
Thanks again Joel!
Robert

Curious if anybody knows typical cap rate ranges for NNN leases in the Houston area, for say a corporate tenant like a Walgreens or CVS. A friend of mine is curious on a deal he saw. Thanks.

Thanks very much for the link William. That is a great general info article, which is what I was looking for.

Robert

Very interesting information and links. I'm trying to learn about tax sales in Texas. So with a tax sale you pay the outstanding taxes and then you own the property outright? I'm a little confused on that. So it's not a tax lien in that you get paid interest back on the outstanding taxes once the owner pays the county, but if it is redeemed by the current owner you then get interest on top of the principal? Otherwise, you do with the property as you want? Rehab, hold, sell?

Thanks.

Hello,

I've been reading on the forums and listening to some BP podcasts on tax liens and it sounds like an interesting asset class. How can I find information on tax liens in my state? Do I just call the tax assessor's office and ask for the guidelines and the procedures, or is there someone on these forums with experience who might point me in the right direction to get more educated?

Thanks!

Robert

Thanks for the tips and suggestions. I'm definitely interested in this from both a medical and real estate aspect. I'd like to build something up with 1 or 2 partners. The key is getting commitments from doctors who are targeted as tenants.

Lots of work to do. Gotta learn more about NNN leases too!

Thanks again

Robert

Hello,
I'm a physician interested in learning about the ins and outs of commercial office space leasing, specifically for the medical field. Mainly for physician practices, but also other possible revenue generators, like ancillary services (laboratory, imaging, and pharmacy). Are there any recommended books or other education sources out there I might start with?

Thanks!

Thanks for the suggestions. Good idea on talking to our commercial realtor. Didn't think of that! I'll also look into Marek Brothers.

Thanks!

Hello,

We are interested in either buying an existing or new construction of a warehouse-type, modular construction building to use for a business that would require build out of separate small office sized rooms with HVAC. How or where can I find a range of prices per sq foot build out costs for basic, office level interior? Does anyone have recommendations for local commercial contractors to talk to? We're not very familiar with commercial construction costs for office space in the Houston area.

Thanks.

Robert