All Forum Posts by: Shak Noor

Hi Everyone - the beauty of real estate is that there are so many different ways to be involved. But lately I feel like I'm getting lost in developing a strategy. I work full-time, but have always looked for areas to invest in. Several years ago I purchased a foreclosed home, rehabbed, then sold via seller finance. I ended up selling that note last year. Last year I started investing in non performing 2nd mortgages. It's been slow, but some worked out really well, some were a bust, and others were nominal. We moved out of our house this year and put that up for rent. This year I was working with a partner to get into a business (car wash or self storage). Focused on this for several months but eventually got distracted with development. Met a developer and most recently wanted to either build a strip center, lease out then sell. Or build townhomes or demo/rebuild luxury spec homes in highly sought after areas in town. Also been interested in multi family, Grant Cardine style, buy well add value, hold/sell. At this point have a decent amount of coin and potential partner but have confused myself on a strategy and what to pursue. One day I like the idea of cash flowing, sometimes I like exit strategies that development projects have. I'm really having trouble focusing on a strategy at this point. How do you guys hone in on your strategy and weigh the pro's and con's of different ways to invest out there? Thanks, Shak

Thanks Rob, I will reach out to Coy today.

Hi BP folks, Working on my first commercial deal and would like your thoughts on this property/opportunity. There's a an office building in Texas for sale. It's part of a small office park, 4-5 total buildings total. For sale is one of the buildings. Downstairs and upstairs are currently separate suites. Nearby is very residential and there's a large retail strip center directly in front that is a bit run down (but on sale) so potentially will get a face lift upon sale. And next to that one is another strip center that he fairly new with a Signature Kroger (large grocery store) Office park was built in the early 80's and is all rented out except the 2nd floor in the building I'm looking to purchase. The 1st floor suite (2500sqft) is currently occupied by the owner. They have a medical office and his wife is the doctor. They want to sell and get on a long term lease for 8-10 years. 2nd floor is vacant and has been for quite some time. It js dated as well and needs new paint, carpet, etc. Each suite has approximately 7 offices, 1 conference room, break room area and bathrooms. Association fees is $1700/month for the entire building. This includes all taxes, all insurance, and all maintenance. Electric, water not included. It is for sale for around $225,000 for the whole building. Seller bought in 2001 for $175k and then put $100k into the first floor suite to outfit into a full blown medical office. He just wants to pay off his loan balance. But it's been on sale for about a year and the 2nd floor has been on the market to be leased for a year as well with no takers, few bites but nerve worked out. Was rented out for 5 years at a point but that company went under. With a 25% down payment, my monthly expense would be around $2500/month (loan & taxes/insurance/maintenance). I can get a minimum of $2000/month from first floor current owner on a long term Lease. Maybe $2200. I'm concerned about getting the 2nd floor rented out. I've thought about Renovating the 2nd floor to look like modern office space and rent each room out individually and they'd have a shared bathroom, breakroom, and conference room. I could charge $350-$500 per office and at 7 offices get $2k minimum from the upstairs. What do you guys think? Does this seem feasible? What are some things I should look into? Is there much demand for individual office space in a residential area not close to the center of town? Would love your insights and thoughts. Thanks, shak

We already have a mortgage for our primary residence. I'd like to minimize impact on debt to income ratio in the long run so We can still invest in RE, and it's not important to them if the house is under their name or not. So, should we either: 1. Co-sign? I'm thinking no bc we can't show income against it. 2. Buy with 20% down investment loan and rent to them? I think this is best scenario. 3. Buy and seller finance to them?

Hello BP community! We're helping out my brother and his wife. They aren't able to get a mortgage without my help. I know there are risks with helping in this scenario, but he's the most important person in my life after my wife. So, I'd like your advice on the best way to execute this.

Amazed to see so many homes in good shape for sub $30k.  

How are you guys/gals finding these deals?  I'm in Houston, TX and feel like I should be able to find these types of deals.

I'm assuming searching the traditional MLS will not yield these types of deals, so are you buying from auctions, wholesalers, short sales, etc?

Should I be working with a realtor or doing a bunch of digging on my own?  

I have one house that I bought 2 years ago for $72k, fixed up and sold via seller finance. I've finally got enough funds for another go round, but after seeing so many great deals I'd rather do one of the deals I'm seeing here vs. buying for $100k+ to rent out for 8% ROI...