All Forum Posts by: Seth Ciminillo

Good question. There are a lot of ways you could structure it. A basic example is you both bring half the down payment and own the property 50/50. And then you would essentially be the landlord and the tenant (Gym business). But you can always get creative and try to retain more equity and really market that you are bringing a lot of value with steady tenant for the building. Whatever you decide, I would get an attorney involved and write up a contract between the two of you and an operating agreement to spell out the partnership, ownership, etc. You could even start an LLC for that specific property as well. I have done that in partnerships before. Hope this helps!

Hey Christina, 

Unfortunately many commercial loans do require a hefty down payment like that. One suggestion off the top of my head is to bring a partner in on buying the building. If you formed a partnership in order to buy the building, if the numbers worked with your gym lease, then it could be a good cashflow opportunity for both of you.

Of course you would want to find someone that you would be comfortable partnering with and make sure your strengths compliment each other. But if you could find someone to split the downpayment, there could be a way forward. 

 I use CoStar in some smaller markets, and I feel like it works well. I live in Lima, OH - and it is not a big market by any means, but it seems pretty accurate to me. But to reiterate what @Nathan McIntire said, I have found marcusmillichap.com to be a great resource as well. 

Hey Nathan, 

Unfortunately a lot of free sites that give statistics like that can largely vary or be unreliable. Personally, I have used CoStar and Reonomy to get stats on population growth, employment, market rate rents, past purchase price, current loans, owner contact information etc. Both of these services cost money to have a subscription and its not cheap. I use these services as an investor and as an agent, but I have access to them through my brokerage who flips the bill on these services. These numbers are lot better and I can get market data outside of my immediate area. 

Hopefully someone else can give some suggestions on reliable free services to use! 

That's amazing! Congratulations! 

 Love this! Great suggestion - I am currently has hacking a duplex right now. 

Hey! It all comes down to your personal investment strategy/goals. I personally don't know a lot about Denver, but I always believe that it is wise to buy cash-flowing deals. Compared to where I'm at in Lima, OH - Denver is an appreciating market and if you can make a single family home cashflow and count on the appreciation being the large payday down the road, that could be a great idea. But if you are looking for stronger cashflows and to scale your rental business faster - multifamily is the way to go! Multi's bring about their own unique challenges and can sometimes be more management intensive - but I think it is easier to scale buying multi units rather than trying to scale buying single family homes. I own both - but I am going to focus on small multi's for now because it fits my personal strategies and goals better. 

You looking for big cashflow or minimal cashflow with equity appreciation? 

@Nicole Heasley Beitenman

Yes, that would be fine! 

@Nicole Heasley Beitenman

Well if they cannot find anyone, I would be happy to help coach them through the process and would be willing to drive over there if we find something that works for them.