@Tyler Cauble. Great information on Crexi but don't forget driving for dollars. Many beginners have distressed properties in their backyard and often times off market and handed down from family etc. These present a grest opportunity for "driving for dollars" and a chance for BIG cash out refinances.
Great contetm as usual....the current rates are terrible for investment loans, what about commercial? What kind of terms and rates are you seeing right now?
Thanks, Dave! Yes - it's tough right now. Interest rates are high and banks are nervous, so they're not lending as readily as they used to. However, if you can get a deal done right now, it'll likely prove to be a good one for the long term. Rates are anywhere from 7.5% to 9% with 20% to 25% down
I'm sure it varies by location, but I am having trouble finding cost estimates of raising the ceiling height. For example, in your area, if you had a building with 13ft ceilings and concrete construction do you have an approximate price per sq ft you look for? Is the cost so prohibitive that it isn't worth it? There are lot of old industrial buildings for sale here in NY, but most have very low ceilings compared to what the modern buildings have and manufacturers want and need.
There's a lot of factors that go into the actual cost of the renovations, so it's tough for me to give you a range, but it certainly isn't cheap. You have to hide all of the trunk lines, electrical, insulation, etc. when you go about doing that. It can certainly be worth it if tenants are willing to pay for it but the best thing to do is to have a contractor come out and take a look at your ceilings to give you a quote
I don’t want to buy a residential property or an apartment building because I dislike people I have a strong dislike and this taste for people. I don’t know know what it is. It’s like I can only be around people in doses so someone advised me to do commercial real estate because it’s easier and you don’t have to deal with people.
For the first method you said the name of the website where you find foreclosed and distressed commercial properties, but you didn't show the name of the website in the video and it's not in the description. Any chance you can link to that? Just hearing you say it isn't always the easiest method for trying to figure out how to find it
I like the content of this channel. However, it is to me very annoying the camera changes and he looks into nothing.. Why do he look into nothing ?.. how about look into the camera ?.. Some might say it looks more "professional" this awkward way. It only when there's an interviewer it makes sense.. There's no interviewer, so who is he talking to ?.. It's weird, I hope he stops doing this.
"Distressed" is a good one! most brokers will literally use that word. Think through other words a broker might use to describe a beaten up, worn out property haha
Check out my FREE crash course on commercial real estate investing for beginners: www.tylercauble.com/course
@Tyler Cauble. Great information on Crexi but don't forget driving for dollars. Many beginners have distressed properties in their backyard and often times off market and handed down from family etc. These present a grest opportunity for "driving for dollars" and a chance for BIG cash out refinances.
For sure - some of the best opportunities can only be found by driving by!
Good informative video, thank you for sharing your experience. Good luck with your channel.👍✌️❤️🙂
Glad you're liking it! I appreciate the kind words
Great contetm as usual....the current rates are terrible for investment loans, what about commercial? What kind of terms and rates are you seeing right now?
Thanks, Dave! Yes - it's tough right now. Interest rates are high and banks are nervous, so they're not lending as readily as they used to. However, if you can get a deal done right now, it'll likely prove to be a good one for the long term. Rates are anywhere from 7.5% to 9% with 20% to 25% down
Do you have any videos on wholesaling commercial real estate?
That’s what I’m looking for.
Yep - I do have a video on it. We're looking into creating more on the topic but you can find it here: th-cam.com/video/XXVXHS4-_ow/w-d-xo.html
That complex for 1.5 million at 2:00min mark is still on the market but now listed at 1.8million.
I'm sure it varies by location, but I am having trouble finding cost estimates of raising the ceiling height. For example, in your area, if you had a building with 13ft ceilings and concrete construction do you have an approximate price per sq ft you look for? Is the cost so prohibitive that it isn't worth it? There are lot of old industrial buildings for sale here in NY, but most have very low ceilings compared to what the modern buildings have and manufacturers want and need.
There's a lot of factors that go into the actual cost of the renovations, so it's tough for me to give you a range, but it certainly isn't cheap. You have to hide all of the trunk lines, electrical, insulation, etc. when you go about doing that. It can certainly be worth it if tenants are willing to pay for it but the best thing to do is to have a contractor come out and take a look at your ceilings to give you a quote
The guys at roof lifters did a building not far from us. Rents in Toronto are sky high and industrial land outside the city is 1.5m / acre.
Where too find it wholesaling one or what too say too commercial sellers
Check out this video on commercial wholesaling here: th-cam.com/video/XXVXHS4-_ow/w-d-xo.html
I don’t want to buy a residential property or an apartment building because I dislike people I have a strong dislike and this taste for people. I don’t know know what it is. It’s like I can only be around people in doses so someone advised me to do commercial real estate because it’s easier and you don’t have to deal with people.
For the first method you said the name of the website where you find foreclosed and distressed commercial properties, but you didn't show the name of the website in the video and it's not in the description. Any chance you can link to that? Just hearing you say it isn't always the easiest method for trying to figure out how to find it
Crexi is usually my go-to there
I like the content of this channel. However, it is to me very annoying the camera changes and he looks into nothing.. Why do he look into nothing ?.. how about look into the camera ?.. Some might say it looks more "professional" this awkward way. It only when there's an interviewer it makes sense.. There's no interviewer, so who is he talking to ?.. It's weird, I hope he stops doing this.
Glad you’re liking the content!
Disagree
@@tanereyu7699 😂
He’s looking at you….. the camera…… 😅
@@Native2Earth then he has some serious problems with his eyes and body direction changing every few seconds. camera my bu.t.
What were the key words to find distressed properties?
"Distressed" is a good one! most brokers will literally use that word. Think through other words a broker might use to describe a beaten up, worn out property haha
@@TylerCauble Propstream won't let you do that! Lol
I see many empty buildings I would like to buy if I can get the business to rent it out.
That’s the plan! Great way to build equity
@@TylerCaubleI said that instead of me renting the space with my business. Like an empty box store space. Good empty space for pickle ball courts
@Pernection absolutely - sounds like a good way of getting a deal done