i’m just interested in the finder’s fee. Which is usually 1% btw. 
then have at it. but make sure the investor doesnt name you in a lawsuit if derek happens to default in 10 years… make sure to get a contract up front absolving you of all responsibility.
I’m glad everyone has such faith in me.I could see if I was asking for 95% of the value of the property in a loan.
How is the plaza an unknown equity?Can you not see the buildings and land?You want to go with me on the first when I go and collect $10k in rent?
Why should I pay a premium?I have a deal for the next 16.5 yrs for 6% interest and noone can change that unless it benefits me and I agree to it.
Financial institutions usually don’t jump down your throat.Usually you go to them.
As far as me being upset,the only thing that makes me a little upset is the lack of faith and you’re like trying to convince people against.And as far as you speaking the truth,you are speaking your opinion not the truth.
I will own this plaza until the day I die unless someone offers me some HUGE money.As weird/foolish as it sounds this plaza is a part of me.When I bought it I would just walk around down there in awe.I went to slinging burgers 10yrs ago,to waiting on customers at a unimart 5 yrs ago to this.It is my Pride and joy and I wish I had even more money to make it even nicer but it is happening little by litte.No one died and I didn’t get any inheritance either.
Derek
Also,You don’t think EVERY investor would absolutely love it if you paid off 75% of a loan and then defaulted?I could come up with the money to pay this off myself If I ABSOLUTELY had to(coin collection,other paid off properties,personal belongings,jewelry)but would never unless it was do or die.But rest assured If it came down to losing the property or selling things,I would still have my plaza.
The investment is a pretty solid one if you are looking for a stable return on putting money away for 15 years. For 6-7% tho I rather keep it in other options that provide the same risk.
You are looking at a online savings account for ~4% and a mutual fund that provides on average 8-10%. My only fear is too is that investing in this takes your money away unlike a fund where if needed you can get to it.
I can’t believe anyone would even own a strip mall, I’d much rather have a hotel.
wow what an excellent idea…i never thought of that! (kidding, i have done this before)
im not stating an opinion. i am stating that you are misrepresenting reality by stating that this is a 100% no lose investment. that is NOT an opinion, it is a fact.
it has nothing to do with faith in you. it has everything to do with the fact that there are risks involved in this type of investment. if 6-7% is a fair rate, then why dont you just go to the bank and have them write you a note at that rate?
investing is all about finding lower risk alternatives. I could EASILY invest in a blend of funds and stocks and earn 6-7% conservatively over 15-16 years. so why would i put all my eggs in one basket on one person? the fact is that this type of investment carries inherently higher risk than a properly diversified traditional investment portfolio. it sounds like you are very successful in managing your rental properties; however, you tend to minimize risk when trying to drum up capital, and i think people should be better informed.
what you have done, going from nothing to ownership is certainly commendable, and i am in the process of doing similar things as well. this is not a personal attack, and i apologize if you took it as such. i have tried to lay out the facts and my arguments in a logical fashion, and i think they hold up well.
i know very rich people in rochester who started their wealth by owning strip malls. business tenants are great if you can keep the full year round.
:picard:
:fail:you are an idiot.
Can we make this thread income restricted?
something tells me you would be bumped out before walter… :hay:
+1
+2 :mamoru:
Psh. Sukka’s broke. He’s thinking about buying one of those cheap ass Vipers. Shit’s only $50k, which ain’t much for a car.
WAT.
I’m not sure if that is a joke or if you’re being serious?If you are being serious then you are a very ignorant person.Why would anyone want to own a strip mall? Benderson must be a very stupid person then.How about they bring in Incredible returns if they are in the right area and run right.
Also alot less headaches.I’ve been talking to a guy on the Island about another small strip mall(how foolish) and a 27 room motel and If I do get it it will be instantly turned into studios and 1 bdrms.
Motels Have to have cleaning staff,counter people,etc.
Now I can see that many people make money with motels,so I will not call them stupid or put down their investments but the plazas are better for me.
QFT
the owner of my fathers hotel owns ten other properties in the area and is a extremly wealthy individual
Since we are in OT, it was a parody of the retardedness that ensured in my Viper thread :hay: