Norada Real Estate Group

Has anyone done any business with Norada Real Estate? They are promoting a 6,000 deal in south west florida?



Any references?

Thanks

Comments(8)

  • norrist30th October, 2005

    Found a few bytes:


    http://www.normandmike.com/html/Links.asp
    _________________
    Best regards,

    Tim

    [ Edited by norrist on Date 10/30/2005 ][ Edited by norrist on Date 10/30/2005 ]

  • cbrechbill131st October, 2005

    I have requested specific info about this company and never recieved anything? I finally recieved a call from a staff member almost 2 months later, and he actually contacted the developer i had invested with that offers 24 month leasebacks at closing, and bought one unit in Clearwater...so with that said i dont know how good their "deals" are. If you get any specific information i would still be interested to learn a bit more.

  • ConnieB6th June, 2006

    Hi, I just learned about Norada Real Estate Group and was wondering if you found anything out? Have you invested with them? Let me know anything you have learned.

  • sirbeigealot2nd June, 2006

    John,
    I guess I am looking for "more bang for my buck".

    Thats why I posed the question here...I am looking for cash flow.

    I guess I will always wonder about commercial until I actually buy one.

    Thanks

  • commercialking6th June, 2006

    Well, Chris in both cases the financing was through a conventional lender i.e. a local bank.

    In both cases I found the property at bargain prices, flipped it through a straw man and sold it to my investor partner at appraised value. The straw man carried back a 20% second and I refunded my investors 5% downpayment after the closing to buy in as their partner.

    The trick is you have to buy the property initially at least 25 to 30% under its FMV so that there is room for the straw man to do its thing.

  • sirbeigealot6th June, 2006

    Commercialking,

    I have been searching ****This URL Not allowed**** for units in other states.

    I have seen anywhere from 30-50 units for under 500K.

    Assuming that the seller does not carry, and I simply put 20% down on one of these properties, would you think that this is a good way to get started in commercial?

    Are these buildings under 50 units generally good investments?

  • johnnyloans8th June, 2006

    Primary or Investment I think the bigger question is owner occupied or non owner occupied. You can live in an apartment and own a home that is not your primary residence.

  • voluminous8th June, 2006

    Thanks!! I will make sure to do this today! I figured as much but just wanted the expertise opinion from you guys. This has been a great help.

    Toska

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