All Forum Posts by: Sakib Shaikh

Here is the scenario:

My business partners own $25M worth of commercial real estate and want to open a company to manage all of their own assets in house and want me to lead this effort.

Do I need to be a licensed broker to do this? What if it’s their company and I am just a worker? 

Would I need to be a broker to execute leases on their behalf? I am a licensed agent, is that enough?

Okay so the seller is asking for $450k. I don't see how I could wholesale this or even attempt to buy it myself. It's not a deal seeing as the most I could net in its current condition is $3k per month at maximum occupancy and each unit renting at it's current rate of $750 per month. Even with maximum rehab (seller estimates $20-30k for rehab), how much more could I get? Property is in Castroville.

@Ariel Kumpinsky I guess my larger question was if there is a way to determine market value based on appraisals value? Also, it’s a unique property because there aren’t many 4-unit apartment buildings.

I have a motivated seller who wants to sell a 4-Unit apartment complex in a small town outside San Antonio, TX. The county appraisal value is $350k.

Each unit is a 2/2, and brings in $750 per month in rent, 3/4 occupied.

Would need roughly $30k in repairs. How should I handle this? Very new to wholesaling, looking to close my first deal. How much should I offer? How much should my assignment fee be?