All Forum Posts by: William Kyle Walker

If he skipped out on the lease before expiration keep the deposit. He owes you rent for April, May and June. 

I am looking for a detailed comprehensive analysis model and came across ReSheets.

Has anyone bought their spread sheets? They have a YouTube video and it seems like their models do a lot. I think they could save a lot of time but if there are bugs it could be a complete waste and I don't see any money back guarantees. 

Thanks for the update. What is the going rate per square foot for flex space in your area? If you electrician tenant is paying market rate, I would consider demising the the 15k space into seven 2,000 square foot spaces. If you could get $1,600 for each of those you could dramatically increase the asset value and cashflow of the property.

Like Most people here suggested. Get with an attorney ASAP unless you want to just change the locks and ask questions later. Download Title 41. here http://www.oklegislature.gov/osstatuestitle.html

First you have to ask yourself "what do I want to do with this"? 

If you want to buy and hold it you should. Get info from the city like total building square footage and Owner information. Skip trace the owner and find out what they are planning on doing with it.

If they want to sell. Get to know that product type. Get on Loopnet and Craigslist and find out what similar spaces are renting for per square foot. Shop some of the rental comps in the area. Once you get some numbers you can start to crunch numbers and find out what it might be worth.

Hi BP, I am a property manager for multi tenant industrial in Dallas. I just got a lease signed with a May 1 move in and I need a few referrals of carpet and paint guys. They need to be fully licensed and if they do a great job we have plenty more jobs.

@Joel Owens and @Chris Winterhalter I see both points here and would like to find some historical data relating these issues. One other thing to consider is that if interest rates are rising there would be inflation in the market or on the horizon. This would increase revenues but also expenses thus increasing NOI. This increase in relation to CAP rates would tell us if the sales price increased. Your cash flow should definitely increase because your Debt Service will remain constant as long as you have a long term fixed rate. If your strategy is to buy and hold until you pay off the debt, this will be a great thing. But if your investors need to be out in 5-7 you might have a problem on your hands.

I was thinking today about the relationship between cap rates and interest rates. In my young investing career cap rates have always been low. I am wondering what cap rates where like in when interest rates where in the teens? With cap rates being at historic lows would it arguably be one of the worst times to get into commercial real estate?

You should invest in the niche that you know the most about. If you have spent most of your time learning about wholesaling $20,000 would allow you to launch a nice marketing campaign. If you have been studying tax liens and deeds you could buy a few small pieces of land out right, without having to worry about being foreclosed on. If multi family is where you want to start I think @Brandon Turner has the right Idea, but I would try to partner with someone that could show you the ropes. It all comes down to where you feel most comfortable.

Hello BP

I have a question about Commercial Mortgage Insurance. I would like to know what criteria the underwriter would look for when issuing the insurance. What insurance amount will they issue? Will they insure more than 100% of the value of the property? What costs should I expect? Would having it make it more likely for me to obtain debt and equity financing? Do you know of a good resource to find companies that would insure a sub prime loan?

Thanks for reading and the feedback