All Forum Posts by: Francis Louis Vogel Jr

Caleb,

This is going to require some legal costs. Instead of using a law firm, hire a paralegal service the cost savings are huge.

Great post, good luck.

For marketing commercial real estate. Try starting with LoopNet.

Bernard,

I work with a lot of commercial real estate investors across the county that purchase property at very low loan to value [LTV] this provides many options concerning financing. For example you could qualify for a short term bridge loan to flip the property or a fixed term fully amortized loan for a buy and hold.

Sounds like you're in a great position.

Great post, good luck.

Great post. Using best business practices by starting with developing your support structure is important to your success. The best place to start in my opinion is to look locally.

Good luck.

Craig,
Great question, post. Look for off market property through note sales or register of deeds record search.

Good luck.

There are plenty of properties worth less than the debt, and there are more foreclosures to come. Most of the distressed multifamily properties are B, C and D class properties. These properties can provide great returns with cap rates from 8 percent to 12 percent on existing income, and in most cases have plenty of vacancy for even more upside.

Property sources:

Get to know the attorneys in the distressed market and the lenders with existing loans. Establish relationships with brokers who specialize in multifamily properties who track distressed apartments and have relationships with lenders. Offer to protect their reasonable fee for acquisition opportunities they source for you.

Notes:

Consider buying notes but be sure to understand the risks of stepping in the lender's shoes. Consider the collateral, the collateral title, the borrowers' intentions, and jurisdiction issues related to the foreclosure process and recent bankruptcy/cram down court decisions. Also consider the time, risks, and costs to get from lender to property owner.

Glen,

Try bank rate dot com
Good luck.

Emma,

Check out paralegal companies most work as many law offices back office with the law firm marking up their services. Research a few in your area and contact them directly. You may be able to save a lot of money.

Greg,
If you not already. You should be working directly with a bank, private lender or commercial mortgage broker to assist with the due diligence. Over all this sounds like a great opportunity if the price is right.

Great post, enjoyed reading it.