All Forum Posts by: Dan Krause

Andy: What happens if you cant flip the property within 6 months? What if you cant satisy the terms on the one loan based on the one property?

Can this be done? Without any physical meetings-just buy/sell like trading stocks and bonds? I ask because Detroit is a highly distressed market with very little volatility. If so how?

Say for a $100,000.00 single family home what is the typical timeframe for paying back the loan? Is'nt it in the 6 month timeframe? What are the monthly payments like required by a hard money lender? Is the actual property (being bought) the only collateral required for a hard money loan?

With most Michigan markets and prices down or stagnant what are the best strategies for an investor? Rehab/Flip, Financially distressed/Flip, Commercial/NNN-anything else? Some of the local markets are up-but in the farther northern areas. Thanks

Please dont tell me Detroit. It seems if you look at alot of the Michigan price listings around the state prices are sometimes going up and some values go down (over a monthe or so). I am refering to areas outside the major Michigan city areas, away from main county areas. Wayne county is not such a great market neither is Monroe. Then you have Oakland and Livingston where prices fluctuate. Grand Rapids and Kalamazoo, Lansing areas are the same. How about Traverse City, Cadillac, Port Huron and Mackinaw areas? Anyone know? Any input?

It was suggested to me by a commercial broker that it ould be possible to structure a no money down deal on aa NNN using a fee simple property for sale but he didnt explain how. Could it be possible to acquire a NNN with no skin in the game using a fee simple structure? No down payment, no upfront costs? I am refering to many of the fee simple NNNs for sale on Loopnet. I am in Michigan.If any brokers are reading this feel free to advise. Thank you

The rents have a large effect on what the property is worth? But appraised/assessed value is not relevant to the Net Operating Income (past, current and projected)is it? Thanks for your insightful information so far. Dan

It is a NNN retail property (for sale) being sold Fee Simple with a 75 year (leased) tenant in place.

How does the process work for a buyer/borrower acquiring a Fee Simple retail property that is advertised for sale via Fee Simple? I know that fee simple is the same as deeding a property to a family heir but this is not the case when the fee simple property is advertised for sale to the public is it? How does acquiring a NNN or ground lease fee simple differ from a "Motivated Seller" or "Seller Financed" retail property? What is the exact buying procedure? Thank you, Dan

:D As a NNN investor is location just as important as any other kind of RE investing-Location, Location, Location? Or is it not as important. Because when you approach commercial lenders they are not at all interested in the actual appraised or assessd value of the NNN property. The lender is ONLY concerned with the past 3 years, current and projected incom on the NNN lease. At least this is what i am finding. I mean-would you (as an investor) finance a NNN property in California if you live in New York even if the NNN in California had excellent financials and a high CAP rate? What do you think? Dan :D