Good Morning!
Here’s today’s agenda:
- Private Money Masterclass Replay
- Me & My Dad Discussing the Early Days of Diamond Equity
- Cash for Keys – How to Avoid Evictions
- 15 Unit Apartment Building For Sale
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Doing a Deal with Diamond Equity
Here’s What I’m Selling:
- 15 Unit Apartment Building $1.249M
9211 S. Laflin Street, Chicago IL 60620- $190,000 Yearly Rent Roll
- Increase Rent by Renovating Remaining Dated Units
- Offering Memorandum
- For additional detail, please connect with Jason Marcordes, IL broker, at 630-842-5557 or [email protected]
- 35 Investor Grade Deals with (R.O.I.) Return on Investment
- Fix & Flip Deals
- Buy & Hold
- Handyman Specials
Here’s What I’m Buying:
- Retail Strip or Shopping Center 10,000-250,000 Sq. Ft.
- Industrial or Flex Warehouse 20,000 – 250,000 Sq. Ft.
Here’s How to Passively Invest:
- Earn 2 Points & 10% Interest as a Private Lender on MY Deals.
Here is How I Run My Schedule:
- I only schedule calls for which I am prepared. If you’d like to schedule a call with me, please include the full agenda of what will be discussed in your email. These are calls I handle personally:
- Accredited Investors who can write a Check for $1M or more and are interested in exclusive partnering on Commercial Real Estate deals.
- Brokers, Wholesalers, or Owners seeking to sell the type of Commercial assets outlined above.
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The Wealth of Wisdom
“Wisdom is more profitable than silver, and her wages are better than gold” -Proverbs 3:14
This week’s Wealth of Wisdom is the process of Cash for Keys. Personally, I hate evictions. They usually take 3-4 months where I am not collecting rent. So if I have a $1,500 per month rental, I’m out $4,500-$6,000 in lost rent while going through the eviction. I view this as my budget for the Cash I’m willing to go up to in exchange for the keys – the tenant leaving immediately.
Of course I would start with less and say to the tenant, on the spot, in person, “Listen, I’m going to the attorney’s office when I leave here and filing the eviction. it’s going to run me about $500. If you can be out by Friday (or whenever a few days later would be), I’ll give you that money instead. Can you be out by then?”
It’s a negotiation around the amount of money and how fast they can leave. The more time you give them to get out, the less likely that they will ever leave. I never give more than 7 days before filing the eviction if they haven’t left.
My friend, Mark Ainley runs GC Realty, a volume property manager serving the greater Chicagoland region. He recently wrote a more detailed explanation of the process. You can read that post here.
Recent Podcast Episodes – Private Money Lending with Dan Breslin
This week 2 REI Diamonds Show episodes have been released:
My dad is the reason I am here as President running Diamond Equity Investments. He is also a one of my private lenders. On this podcast we discuss both the early days of Diamond Equity and his experience as a private lender.
How I Made My First Million Dollars
At the Commercial Academy event in Cleveland on August 23-25, I will share the details on How I Made My First Million Dollars. I only invite 3 people to attend each event so that I can spend some time meeting each person that attends as my guest. For this event, I already had those 3 people register. If you missed out, maybe I’ll catch you at the next event in January…