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Recent content by MoJoe

  1. MoJoe

    Rite Aid Commercial Property

    It’s going to auction next week and if they won’t take our offer than we’ll be looking at different routs. It’s hard to ignore rite aid’s financial statements and negative growth. Also, the retail market is going crazy as 400 dollar general stores are closing down and Payless shoes are filing...
  2. MoJoe

    Rite Aid Commercial Property

    Same here the people I work with have their own real estate experience and between us we have some years of experience. We assess every deal carefully before we make a decision to make an offer. I also believe in starting with small deals but if I see a good deal I won’t be deterred buy it’s...
  3. MoJoe

    Rite Aid Commercial Property

    My net worth is close to 0. I just have access to cash (not mine) and I’m trying to use it wisely. I’m usually not into NNN peoperties as I believe that I’m not at that stage to invest in them yet but I saw an opportunity and I went for it. At this point I think I’m going to just go to...
  4. MoJoe

    Rite Aid Commercial Property

    I totally see why you’d think that. It’s not exactly the case. It wasn’t listed for cap 10 it was listed for cap 7 but the owner wanted a fast sale and was willing to take way less than listing price. It was a foreclosure and the owner defaulted on the loan. I had better offers ahead of me but...
  5. MoJoe

    Rite Aid Commercial Property

    -Update: They didn’t take my offer and the owner decided to go to an online auction. They want to know what the market can get them for it. Also, the lease is only 5 years and it’s somewhat a deterant as national pharmacies usually sign 10-20 years lease. To your questions: -Yes it’s a...
  6. MoJoe

    Rite Aid Commercial Property

    Yea so the thing is someone close to me got the cash to buy it outright. We want to later refi And place on market immediately. And I know! I was surprised myself. Cause usually at this caps you can only get a leasehold property. Secondly savvy RE investors own commercial properties and they...
  7. MoJoe

    Rite Aid Commercial Property

    Thank you @SteveO It’s actually the first time I’m able to find a foreclosure on such good commercial property. My only worry is how well the company is doing. I like triple net because there’s no headache dealing with multiple tenants. I honestly wanna flip it. So hopefully if I can get it...
  8. MoJoe

    Rite Aid Commercial Property

    Hello everybody and I hope you’re having a great week! —This is my first post on here— I’m 35 years old with on and off experience in real estate mostly as a broker. I’ve rented apartments and I did some sales but nothing major under my belt. I know the business but mostly in theory as I...
  9. MoJoe

    The Subtle Art of Not Giving a F*ck

    BOOKS 
    Its a great book with some good life lessons. Its an easy read and its funny at times (At least the English version) as Mark curse a lot.
  10. MoJoe

    5yrs later, at 33 I've got a multi million dollar business

    HOT! 
    Really awesome post with detailed info. I’ve been wanting to this this for a while now. I just have a few questions if you don’t mind: So if you put all that money in, how do you keep having money for the next deal? Like do you take the extra income after financing charges and keep it? I get it...
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