Master lease option help on commercial office.

[John Menton]

What's up BP, I've been talking with a property owner that may be open to doing a master lease with option to buy because I currently do not have the cash needed for traditional financing and he is looking to unload some properties due to an illness. Selling price is 1M, NOI is 120/k There's a lot of great info on here about MLO's, and I hope this isn't a stupid question but who helps write these? Real estate attorney? Commercial agent? I'm looking for someone in Massachusetts that is familiar with master lease options, thanks!

[Charlie McCurry]

@John Menton If you're familiar with and enjoy the process, you should feel comfortable negotiating the broader business terms of the lease with the property owner.  If not, I encourage you work with a commercial broker.  Once those terms have been agreed upon (usually reduced to writing in a letter of intent or a similar document), then you can hire an attorney to actually draft the document.  Seek out attorneys that focus their practice on commercial real estate transactions.  General practitioners are generally less prepared for the nuances of the real estate field.  When you're considering attorneys to hire, ask them about their experience and their hourly rates.  Some attorneys will even offer flat rate fees for drafting and/or document review.  Have the attorney provide you an estimate for their services and share with them your budget and expectations.  Working with a professional, in my experience, is well worth the cost.