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#347743 - 08/13/10 09:28 AM Commercial REOs
BROK7085 Offline
Junior Member

Registered: 08/13/10
Posts: 4
Loc: hOUSTON, tEXAS
Over the course of the last few years I have been creating relationship with some of the major commercial banks and asset management companies. As it is I know of many commercial REOs that the banks have that are not yet listed with brokers and know about new ones daily. The problem is I have no current relationships with brokers I can refer these too and/or investors for these properties. If any one knows some experienced REO commercial brokers (not the big boys)to list these properties or investors that could possibly be interested in purchasing some of these assets, I could sure use some advice and direction here.

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#347782 - 08/13/10 02:07 PM Re: Commercial REOs [Re: BROK7085]
super realtor Offline
Major Contributor

Registered: 05/01/05
Posts: 8478
Loc: georgia
I specialize in Commercial REO's and Commercial real estate. It is all I do.

I am the head broker and own my own company. Why do you not want the big companies to look at this?

What are you trying to get out of the deal ?

My specialty is retail and multifamily apartment buildings.

Raw land or fractured projects you almost have to give away for investors to buy it. The reason is they can purchase a finished almost new product for less than replacement cost and get occupancy up to increase the value.

Vertical up structures are not being built instead investors are redeveloping or repurposing existing structures to lure the national tenants and increase rents and occupancy levels over the next guy down the street.

If you want you can Private Message me to talk.

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#347932 - 08/14/10 11:19 AM Re: Commercial REOs [Re: super realtor]
Greg Masson Offline
Member

Registered: 08/27/08
Posts: 110
Loc: Oregon
Have you heard of CREOBA, Commercial REO Brokers Association? I am a member, as are many others all over the country. I specialize in Retail and multifamily. You can contact me for CREOBA website

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#348307 - 08/17/10 08:47 PM Re: Commercial REOs [Re: Greg Masson]
ediktid20 Offline
Member

Registered: 05/16/08
Posts: 61
Loc: AZ
I have a CCIM on my REO Team and trying to break into the commercial REO section. We would love to help if you. smile

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#348325 - 08/18/10 12:17 AM Re: Commercial REOs [Re: super realtor]
MINDSUB Offline
Member

Registered: 05/05/07
Posts: 22
Loc: California
Originally Posted By: super realtor
I specialize in Commercial REO's and Commercial real estate. It is all I do.

I am the head broker and own my own company. Why do you not want the big companies to look at this?

What are you trying to get out of the deal ?

My specialty is retail and multifamily apartment buildings.

Raw land or fractured projects you almost have to give away for investors to buy it. The reason is they can purchase a finished almost new product for less than replacement cost and get occupancy up to increase the value.

Vertical up structures are not being built instead investors are redeveloping or repurposing existing structures to lure the national tenants and increase rents and occupancy levels over the next guy down the street.

If you want you can Private Message me to talk.


Hey Super.. reading your posts for a little while.. Good stuff. Q - Did you start out in Residential? If so, when and why did you decide to make the move in commercial - other than money? In one of your previous posts your mentioned Commercial is going to be big next year 2011.. We see it here in Nor Cal.. developers bought the dirt at too high a price.. some subdivisions have the infustructure and are REO.. lease renewal is low accross the board unless you have grade A stuff at a good price per sq they you have a decent retention. Some are offering 6 months free. Anyway.. my business partner are going to try and make a go at it 1st quarter 2011.. Gotta get our duck in a row first. thanks in advance

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#348340 - 08/18/10 07:46 AM Re: Commercial REOs [Re: ediktid20]
BROK7085 Offline
Junior Member

Registered: 08/13/10
Posts: 4
Loc: hOUSTON, tEXAS
Send me a private message with your contact info, would love to talk and see how we could do some business.

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#348448 - 08/18/10 11:30 PM Re: Commercial REOs [Re: BROK7085]
super realtor Offline
Major Contributor

Registered: 05/01/05
Posts: 8478
Loc: georgia
I have owned 2 other businesses before getting into real estate.Growing up as a kid I was always fascinated buy it but never did anything with it.

So one of my other friends had a landscaping business.He was making great money but it grew to the point where he would either hit a peak or have to add teams to grow his business even further.He decided to sell it and get into real estate.

I had just sold one of my businesses and took 2 years off.Then I called him up and he said the freedom was great and loved it. I got into it and at first did residential followed by working on REO and short sales.

Then I met a developer that I assembled 20 plus acres together for a 650,000 sq ft mixed use retail project.I spent 2 years doing that.

When financing dried up on wall-street not much dirt was moving anymore. At that point after that project I switched to income producing properties from the land development side. I have been doing that aspect for the past 2 years.

I like commercial because of the hours and the freedom. I like working with realistic sellers where the list price is based on numbers and the investors base their offers on numbers.

It's not alot of hand holding and buyers purchasing and sellers selling on emotion.It's simply business where most operate on regular hours on a Monday through Friday basis.

I am not talking about Joe blow investor who wants to look at a little rehab house on the weekends. I am talking about investors buying 100 units and up apartment buildings and CVS's and WALGREENS etc.

Most of my investors are in the 1 to 6 million dollar range but some buy way higher.

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#354825 - 10/17/10 10:34 AM Re: Commercial REOs [Re: super realtor]
Avoid The F Word Offline
Member

Registered: 01/14/09
Posts: 205
Loc: CA
Originally Posted By: super realtor
I specialize in Commercial REO's and Commercial real estate. It is all I do.

I am the head broker and own my own company. Why do you not want the big companies to look at this?

What are you trying to get out of the deal ?

My specialty is retail and multifamily apartment buildings.

Raw land or fractured projects you almost have to give away for investors to buy it. The reason is they can purchase a finished almost new product for less than replacement cost and get occupancy up to increase the value.

Vertical up structures are not being built instead investors are redeveloping or repurposing existing structures to lure the national tenants and increase rents and occupancy levels over the next guy down the street.

If you want you can Private Message me to talk.


You've got PM

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