All Forum Posts by: Victor Fung

A developer has been purchasing property all around me. He approached me about a year ago in which I didn't respond to him. He then quietly bought properties all around me. there are only 2 areas left on the street that don't belong to him. I didn't want to sell initially but he could be making my property worth less due to zoning/required area for development. Now that covid has happened, I feel like reaching out to him to would make me look desperate. Plus, I feel that he would now be looking to buy at a discount. He did buy one property during the lockdown on that street but im not sure how much. Any advice would be appreciated. thank you

https://www.loopnet.com/Listin...

Is this fairly valued? What are your initial thoughts on this type of opportunity?

I have a strategic piece of property that I was in light discussions with a potential buyer long before COVID. Before COVID, I had thought about delaying the disposition maybe 1-2 years out. However, the effect on real estate prices is unknown. In mid summer of 2019, the developer had bought pieces of property around the street for a hefty sum. I am the only piece left and own 25% of the total land that he would have purchased. He recently was approved for development on the other half of the total property. I am not sure how things are now or if the development is going forward. His company has a large portfolio of commercial real estate and malls. They are funded by offshore investors. I did see a job on their website for a CRE acquisitions associate so I guess they want to start buying up more properties.

My situation is that my portfolio was somewhat helped by another business which I can't operate in the forseeable future and most likely going bankrupt. Said property supports itself but other ones may not do so well. 

What do you think the situation is now? Should I open up discussions soon or wait it out?

I am a sole proprietor with a few investment properties under LLC's. I don't pay myself a salary but just take distribution. I don't have any full time employees other than contractors once in a while. Anyone in a similar situation have any luck?

Ive heard that people have been getting EIDL of $1K per employee. Is this more likely the option for us? Only the $1K per employee advance is forgivable? What is the loan amount that you apply for in order for it to be forgivable?

https://imgur.com/a/35tlOBz

Hi, I own a piece of property labeled "My Lot". The area I live in has plans to build a pedestrian walkway on "side street B" which is a small one way street. Recently, a developer has been purchasing land around my property to contribute to this development. They now own Lot A, B and C. They just submitted plans to the city to build a high rise on lot A. I am concerned about being able to use Street B because my tenants and I would need to turn into the back of the lot where there is parking. My first concern is that a potential pedestrian walkway would impede that and my second concern is that construction on that developer site would impede that. How can I fight this? What are my chances of winning?  I am going to the site approval hearing next week. I have never been to any of these. How do I prepare? What should I bring? What usually happens in these events? thanks!

USA-NJ, Developer going to build around me and disrupt business, How do I prevent this?