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smoothcrim
Universal Magnetic!
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anyone moved into commercial investing? the returns on residential single family or even multi-family just aren't worth it anymore. a lot of stuff is starting to sit on the market and I think its going to get worse through out the year. loopnet is mostly terrible but I don't know any better places to look

5/2/2023 3:46:12 PM

The Coz
Tempus Fugitive
24810 Posts
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I don't want a second job, thanks.

5/3/2023 2:51:47 PM

StTexan
Suggestions???
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Not that there’s anything wrong with that

5/4/2023 3:29:30 AM

OmarBadu
zidik
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I’m in an apartment complex in south Atlanta but it’s through a personal connection. There are still crowdsourced lenders out there in the commercial space.

5/4/2023 7:01:01 PM

smoothcrim
Universal Magnetic!
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funding isn't the issue, just finding listings is the problem. by the time the deal is on loopnet, a lot of eyeballs have already seen it and passed on it.

5/8/2023 3:36:04 PM

StTexan
Suggestions???
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Yep

[Edited on May 12, 2023 at 2:35 AM. Reason : I concur. ]

5/12/2023 2:33:36 AM

rjrumfel
All American
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What do you guys think of Ownify?

I've read, read and re-read how they work, and I really don't see how it helps people in the end.

5/16/2023 1:22:06 PM

HaLo
All American
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Didn’t know that exists. Holy shit is it a bad deal. It basically looks like a way to make an end run around specific advantages and protections of real mortgages

5/16/2023 6:39:14 PM

smoothcrim
Universal Magnetic!
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It's basically a NNN lease for residential. you give up the tax/leverage advantages in return for locking up purchasing rights while you have no liability. i'd consider taking it on at a time like now where rates are stupid and property values may go WAY down relative to inflation over the next 5 years.

5/17/2023 5:50:39 PM

rjrumfel
All American
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Just read up about NNN leases. Why in God's name would anyone want one? One of the benefits of renting is not having to worry about disastrous unexpected costs of home ownership like a roof, new windows, HVAC, etc.

Seems like with an NNN, you have no advantages whatsoever...you're responsible for everything.

5/23/2023 9:44:59 AM

afripino
All American
11317 Posts
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you have low savings and/or income but want to (eventually, one day, maybe) own a home is why.

5/23/2023 9:50:15 AM

smoothcrim
Universal Magnetic!
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you also lock up purchasing rights at a time that might not be favorable for buying and defer executing those rights until the buying environment is better, like better pricing or interest rates. if you write the lease as a business expense, like say a home office, you also get to write a portion of the lease off your taxes

5/23/2023 9:58:41 AM

rjrumfel
All American
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What the ever lovin fuck is this shit?

Groundly…look it up, they have a house for sale in Durham. The house, a 1755 sq foot home near downtown, is for sale at 355k, which is apparently 25% below market value (but way too gd expensive for a 1700 sq abode). The catch? You don’t own the land. They own the land and charge around ~600/month (added to the mortgage payment). That amount increases 2% each year, until year 55, where you have the option to buy the land for $1.

https://www.newsobserver.com/news/business/real-estate-news/article280115309.html

10/12/2023 3:48:37 PM

emnsk
All American
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That's asking to get egged if I've ever seen it

10/13/2023 5:48:41 AM

theDuke866
All American
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Quote :
"anyone moved into commercial investing?"


Not in property itself, other than a little in a REIT ETF. I've done some hard money lending via a company that does bridge financing for commercial real estate projects.

10/13/2023 8:01:43 PM

smoothcrim
Universal Magnetic!
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^^^ that's basically the trailer park model

10/14/2023 5:02:26 PM

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