Need your advice

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Posted by Rav on May 07, 2008 at 05:57:00:

Hi,

I am new to real estate investment. But, I am realizing this is the way to go. I came across a strip mall: Here are the numbers:

Price : 22M
Year Built : 1955
NOI : 2.4M
Occupancy : 90%
Area : 639,324 SF

It looks like if I can get loan for APR around 8.5%, I will have chance to generate good cash flow.

Three questions:

1. I don't have money for down payment. May be I can put 100K max. Can I get loan for almost 100%. What kind of interest I can get generally?

2. Given that it is built in 1955, do we just calculate its worth using cap rate or some other formula?

3. How do I get started and make a move on this?

I would appreciate your answers.

Thanks,
Rav

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