I have requested specific info about this company and never recieved anything? I finally recieved a call from a staff member almost 2 months later, and he actually contacted the developer i had invested with that offers 24 month leasebacks at closing, and bought one unit in Clearwater...so with that said i dont know how good their "deals" are. If you get any specific information i would still be interested to learn a bit more.
Hi, I just learned about Norada Real Estate Group and was wondering if you found anything out? Have you invested with them? Let me know anything you have learned.
Well, Chris in both cases the financing was through a conventional lender i.e. a local bank.
In both cases I found the property at bargain prices, flipped it through a straw man and sold it to my investor partner at appraised value. The straw man carried back a 20% second and I refunded my investors 5% downpayment after the closing to buy in as their partner.
The trick is you have to buy the property initially at least 25 to 30% under its FMV so that there is room for the straw man to do its thing.
I have been searching ****This URL Not allowed**** for units in other states.
I have seen anywhere from 30-50 units for under 500K.
Assuming that the seller does not carry, and I simply put 20% down on one of these properties, would you think that this is a good way to get started in commercial?
Are these buildings under 50 units generally good investments?
Primary or Investment I think the bigger question is owner occupied or non owner occupied. You can live in an apartment and own a home that is not your primary residence.
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Found a few bytes:
http://www.normandmike.com/html/Links.asp
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Best regards,
Tim
[ Edited by norrist on Date 10/30/2005 ][ Edited by norrist on Date 10/30/2005 ]
I have requested specific info about this company and never recieved anything? I finally recieved a call from a staff member almost 2 months later, and he actually contacted the developer i had invested with that offers 24 month leasebacks at closing, and bought one unit in Clearwater...so with that said i dont know how good their "deals" are. If you get any specific information i would still be interested to learn a bit more.
Hi, I just learned about Norada Real Estate Group and was wondering if you found anything out? Have you invested with them? Let me know anything you have learned.
John,
I guess I am looking for "more bang for my buck".
Thats why I posed the question here...I am looking for cash flow.
I guess I will always wonder about commercial until I actually buy one.
Thanks
Well, Chris in both cases the financing was through a conventional lender i.e. a local bank.
In both cases I found the property at bargain prices, flipped it through a straw man and sold it to my investor partner at appraised value. The straw man carried back a 20% second and I refunded my investors 5% downpayment after the closing to buy in as their partner.
The trick is you have to buy the property initially at least 25 to 30% under its FMV so that there is room for the straw man to do its thing.
Commercialking,
I have been searching ****This URL Not allowed**** for units in other states.
I have seen anywhere from 30-50 units for under 500K.
Assuming that the seller does not carry, and I simply put 20% down on one of these properties, would you think that this is a good way to get started in commercial?
Are these buildings under 50 units generally good investments?
Primary or Investment I think the bigger question is owner occupied or non owner occupied. You can live in an apartment and own a home that is not your primary residence.
Thanks!! I will make sure to do this today! I figured as much but just wanted the expertise opinion from you guys. This has been a great help.
Toska