Zack

CRE investor and developer. Stock, business and m&a enthusiast. Over delivering since 2014.

[Zack @centralFLcre]

@Storage_Venture Ahh the return on equity dilemma. I guess it’s time to sell and move to next one? I’m not sure what to do what are you thinking?

[Zack @centralFLcre]

@PatCarino I’d like an intro please! Thinking about a small garden style apartment building in 32805 (Orlando, FL). TIA!

[Donovan @DonovanBuilds]

Day in the life
- GC thinks I’m the finance guy
- investors think I’m the PM
- Bank thinks I’m the GC
- Architect thinks I’m the finance guy
- Family thinks I’m the realtor
- City thinks I’m a land use attorney
- Friends think I’m the GC

[Zack @centralFLcre]

@inperpetuity_ @paradisemint Fidelity CC has 2% cash back into an acct.

[Zack @centralFLcre]

@AvivaRealEstate Few understand

[Zack @centralFLcre]

@CaseyMericle Basis allocation

[Zack @centralFLcre]

Boom! Just closed! Record time for me on contract (5/16) to close (5/22)!

[Zack @centralFLcre]

🚨 1031 Exchange just got a second shot!

The property we identified just came back available TODAY. We have to be under contract immediately and closed by May 25th.

11 days. Can we get this done?

[Zack @centralFLcre]

I think we’re on target?

[Zack @centralFLcre]

🚨 1031 Exchange just got a second shot!

The property we identified just came back available TODAY. We have to be under contract immediately and closed by May 25th.

11 days. Can we get this done?

[Zack @centralFLcre]

I can already feel the stress trying to hit this deadline which is now May 22 since 25 is Memorial Day!

[Zack @centralFLcre]

@realEstateTrent All of your posts have already accomplished both!

[Zack @centralFLcre]

@credealjunkie @resetbasis I am consistently $1m below their asking price at minimum.

[Zack @centralFLcre]

I immediately call the lawyer to let them know essentially your tweet. We discuss some of the items they mention. I generally say, “look if you have to bring this up I don’t even want them as a tenant” (for example arguing my late fee amt). Gets worked out right then, and I’m not a lawyer. Very annoying when it happens, but I don’t mind sharpening up here and there!

[Zack @centralFLcre]

@patcarino What will determine if you’re wrong and thus have to do the additional parking?

Cool idea!

[Zack @centralFLcre]

@CaseyMericle 5.75%

[Zack @centralFLcre]

Not sure if this is the same…
A broker called me for their client (my tenant) to renew their lease. So I called my tenant directly. The broker called me yelling at me that I’m breaking the law talking to her client. 😂

We ended up doing the renewal directly with MY tenant at the terms I wanted.

[Zack @centralFLcre]

This deal closed Friday. We went with the financing in my original post.

[Zack @centralFLcre]

Taking term sheets today for replacement property in a 1031 exchange!
Financing offer I received this morning for a $2.2m deal in VA:
70% LTC/LTV
30- year amortization
5.75% on conterminous with lease (3-year), or newly negotiated lease terms
50 basis point origination fee