All Forum Posts by: Sheila Campbell

@Michael Jones Thanks for responding. The owner and I have spoken about the loan, it is assemble. If I went that route, I'd still have to find the funds for the rest of the price. I can't see the leases yet until I sign the confidentiality agreement. I haven't because to be completely honest I'm not sure if I need an attorney or can sign it myself. &I'm still doing the math on the cash on cash &IRR. Trying to make sure my investors (if I'm lucky enough to get one or more) get their return and I still make some type of profit.

I also forgot to add! The property is for sale for $4.7mil

I’m working on my 1st deal (it’s a HUGE deal) and I’m unsure on how to get investors. The owner and I had played around with the idea of seller financing. He decided it wasn’t in his best interest because he’s retiring and has been screwed before with seller financing. I wasn’t worried because I had an associate with a group of investors who seemed interested in the property. After looking at the property I emailed my associates the numbers I was allowed to (I haven’t signed the confidentiality agreement yet BUT the owner gave me each units rent and what they pay in CAM rent). It has been almost a week and they’re involved in other deals and I want to have some other investors in case they don’t follow through. Here’s some details on the property:

Property: Commercial Property (Shopping Center)

Combined Rents: $26,000

Combined CAM: $1800

Loans: Property has a loan of $1.2mil with a prepayment penalty of roughly $700k

ANY AND ALL advice would be great. Thanks!

@Joel Owens Thanks

@Chris Cambridge My agent is looking over it for me, so I'm not 100% sure

@Chris Cambridge Ok Thanks!

@Tobias Stoll I Understand. Trust me, I'm taking EVERYTHING into consideration

@Caleb Heimsoth He's Considering It

@Caleb Heimsoth No, he's considering because I don't qualify for a traditional bank loan.

@Tobias Stoll Fayetteville NC is constantly growing with new businesses so I'm worried but not so worried. Once I get all the details Wednesday will determine if it's a deal I still want to consider