Need help with commercial deal in Indianapolis

[Audrey Fisch]

I'm actually writing this for my dad, also my first post so apologies if in wrong section, etc.

My dad owns a two-unit commercial building in Indianapolis (we live in NJ). He has a manager who was recommended years ago (but more like by someone who knew him rather than had a good experience with him).

One unit has been vacant for two years and had a nonpaying tenant for a year before that. The manager claims he's done everything to rent it and cannot. This may be true, I don't know.

Now he's told my dad someone has made an offer to buy the property and he's recommending my dad accept it. My dad doesn't really want to sell but at present is basically only breaking even.

My question here is twofold: First, how to obtain confirmation that the offer is good (independent of his manager, who seems invested in the deal)? Secondly, whom could we consult regarding the rentability of the property, so that we could make a more informed decision whether to sell? My dad is not enthused at the prospect of changing managers but would consider it.

Thank you in advance for any thoughts.

[Mark Fedorov]

Really.. don't sell, he will be fleaced. 

To get the best price you need to have a properly performing property.. get rid of the manager, find another one.. use google if you have to... you are going to get 60-80% of the value if you sell with a vacancy.. suck it up, get a new manager, claim some proffit and then get out.

Honestly, you should dig deep with these potential buyers and see if they are related to the manger...