All Forum Posts by: William Thresh

I would continue looking for something that will offer you a bit more. After Greg's response its safe to assume that this property would not be beneficial for your partner and you. Especially being your second property you need something that is going to set you up well for the third.

Some people will argue that cash flow is not the most important part. Depending on the situation I can agree. What is the appreciation like in your area? Will the property appreciate drastically by the time you would like to sell? How much equity will you build per year? If you will not have much appreciation I would say your cash flow is a bit too low. Consider a value add deal where your property has a low mortgage, lots of equity, and more cashflow. 

I own and manage multiple single tenant warehouses and you should not have a issue refinancing it. I would shop around a few banks or get a commercial lender involved.

Thank you everyone you have all been very helpful. I will keep everyone updated on my progress.

Hi everyone, I have heard mixed answers on this. In New York State, specifically Syracuse can you ask for First and last rent security deposit with signing a new lease? My lawyer says you can but need a second opinion.

Hows it going guys. I am looking at a two family property now and would like to purchase. I am going with a FHA owner occupant loan. The issue is they both have leases and the earliest expires 05/31/2020. I know it will take about two months to close in New York State but that leaves me with almost 4 months until I can move in. What can I do about this? will FHA allow me to wait it out? Thanks

Well done. I am looking to do the same in Syracuse soon. Waiting for a good Eastwood opportunity. 

Is the building able to be converted to flex space? you may be successful listing it as that. Throw a loading dock and being able to convert part of the building to open warehouse could benefit you. As far as listing goes I list all of my office space on craigslist and surprisingly most of my small tenants have come from there. As far as all of the listing websites unless you pay its not worth it. Another strategy is looking at comparables, I am sure you have a list of comparables from the appraisal of the building. Call the tenants and see if they are fed up with their current landlord.

My company specializes in the BRRRR strategy for warehouses. Just closed on one last week. You need to learn your market and what buildings rent. Our perfect warehouses a 15,000 SQFT, two dock doors, drive in door, and high ceiling. Once you get a NNN tenant in a warehouse locked in for 5 years its very rewarding. Message me ill answer any questions you have.

Starting this thread back up. My grandfather unfortunately purchased a lot of his commercial real estate in a C-corp. It has now since been passed onto my father and eventually me. This is passive income, rental income producing real estate. Is there a way to convert the C corp into an S corp tax structure without getting hit to bad? or do we have to sell the real estate to an LLC/ S corp? What is the best way to get this real estate out of the C corp or remove the double taxation. Thanks