I've been looking for CRE opportunities and having trouble.
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[{"id": "egeyhn8", "text": "Are you using a broker? If not, I would definitely recommend at least meeting with a few to see if there are any you click with. Landlords tend to sharpen their pencils when a tenant broker is involved and they can also find other building opportunities that are off market. If you need any recommendations for a broker in SoCal, shoot me a PM. ", "replies": [{"id": "egfafuo", "text": "I have my broker who is also a real estate attorney and a small business attorney. I've used her as an attorney several yes and has been great. At this point, since I'm outside of SoCal and she's in LA, I'll keep looking things up on loopnet, she'll send someone to take a look and take pics, and if I'm still interested, I'll fly down to take a look. ", "replies": [], "depth": 2}], "depth": 1}, {"id": "egfeygc", "text": "Loopnet is a total waste of time. I\u2019d wager 40-50% of listed stuff on there is leased, inactive, at leases, incorrect, etc. not to mention you are missing out on off-market opportunities and spaces being soft marketed by brokers before hitting the listing services. \n\nPicking a tenent rep broker: Specialization is everything. Find a broker that specializes in medical office leasing/sales only in your specific sub market. Generalists, do-it-all guys, and out of towners are totally out of the loop and in no way effective unless they are finding a local broker to work with. You want the broker who knows the ins/outs of every medical office building in the area, the details of every recent deal, what tenants are moving, where they are going, and what is going to happen. They exist in every major market and are happy to talk or point you in the right direction. You real estate attorney is great for lease review, keep her for that but find a market expert for the other stuff.\n\nBenefits to you: It\u2019s zero out of pocket cost, you will not waste any more time, they want to get the deal done as bad as you, and you will have credibility in the market (from your broker\u2019s reputation with Landlords). Call up CBRE, Cushman, JLL, Colliers or any other reputable &amp; predominant firm and ask to talk to someone in the medical office specialty in the area.\n\nLet the pros go hammer on deals for you! ", "replies": [{"id": "egk56hr", "text": "Thank you for your input. I really appreciate it. ", "replies": [], "depth": 2}], "depth": 1}, {"id": "egjwn88", "text": "If you can make an all cash offer that can be accomplished by a short term loans or line of credit. That will make you stand out from the rest of the crowd. Sellers want to have confidence in the buyers ability to close and nothing says I CAN CLOSE like an offer with no finance contingency.\n\n&amp;#x200B;\n\nInterest rated for a line of credit or a short term loan will be significantly higher so you will need to refinance that loan after you close but this is just one way that you can stand out from your competition.\n\n&amp;#x200B;\n\nI have been on both sides of a deal where the seller goes with a buyer who has no finance contingency over one who does. In one case the all cash offer difference was $250,000 less than conventional loan offer and the seller went with the cash offer. \n\n&amp;#x200B;\n\nTypical the quicker you can present yourself to close the better off you look as a buyer but it all depends on the sellers motivation to sell.\n\n&amp;#x200B;\n\nThere also can be some issues with the appraisal of the property coming back lower than the offer meaning the bank might not approve the loan. Also if there are any environmental issues with a prospective property and a bank is involved it can be a cluster F and the seller should go with a cash offer to avoid any deal falling through. \n\n&amp;#x200B;\n\nNobody has a crystal ball or a silver bullet for what a seller is thinking, these are just some options to think about the next time you find yourself in this situation. ", "replies": [{"id": "egk586q", "text": "That's interesting. I'll have to take a look into that. \nThanks for your perspective. I appreciate it ", "replies": [], "depth": 2}], "depth": 1}]