All Forum Posts by: Ajay Sharma

Hello Team,

I own a 20K SF industrial building in Illinois. It has been recently renovated and I am placing it on Loopnet and MLS for sale or lease. What else can I do to actively market this property and locate a buyer or tenant?

This has been a career shift for me and I don't have a database of contacts. I thought Loopnet (also Costar) and MLS would be sufficient to attract potential buyers or tenants. Any advice would be greatly appreciated.

Hello Team,

I own a 20K SF industrial building in Illinois. It has been recently renovated and I am placing it on Loopnet and MLS for sale or lease. What else can I do to actively market this property and locate a buyer or tenant?

This has been a career shift for me and I don't have a database of contacts. I thought Loopnet (also Costar) and MLS would be sufficient to attract potential buyers or tenants. Any advice would be greatly appreciated.

@Jim Froehlich, I agree with @Mark Ainley and @Brian Ploszay. I have a few industrials in Addison and Glendale Heights. I grew up in Carol Stream and now live in Elgin. I've been looking for industrials in Carol Stream area. Cap rate will vary with single vs multiple tenants. I guesstimate single tenant will not be more than 7-8%. Multiple tenants can be higher once you know rate for $/SF. Considering Carol Stream has various large industrial/distribution spaces, I was looking for a multiple tenant industrial bldg because I, personally, feel there is a sweet spot to find tenants in a multi-tenant bldg to service the large industrial/distribution spaces. Once again, this is just my thought.

@Prithvi Sri, i just sent you message asking for email. I have two I send over to you. One from attorney and one created by broker. 

We have purchased from listing agents with no buyer agent. We have a go-to real estate, high experienced lawyer. Most deals we work on industrials we only rely on our lawyer to draft paperwork. We use a standard LOI we have developed over time. If you don't have one, the lawyer can draft one for you.

I agree with you. I only got a broker's license to receive split commissions; however, if we find a property on our own, we have not felt a need for an agent. 

Whoa, you just scared me. I'll send you a direct message to discuss your cautionary tales. 

Hello, 

I am a beginner tax lien investor. I've done my research and this year I plan to purchase some tax liens (if I win any bids). I would like to consult an attorney and have him available thru the tax lien purchase process and any required legal documentation. Any suggestion in Dupage, Kane and Dekalb counties would be greatly appreciated. 

Rgds, 

Ajay S. 

@Account Closed, do you know any attorney in NW burbs that works with tax lien sales? I will need one for legal council, bounce ideas and help prepare me through the process (purchase, register, notify tenant)? Any suggestions?

@Peter Halliday, I plan to get into tax lien investing this year. I will start with Kane, Dekalb and Dupage counties. I just sent you a connection request. Are you still attending tax lien sales? Will you be going this year? Do you have a referral for a tax lien attorney in NW suburbs (perhaps close to Elgin)? I would appreciate your assistance. 

@Jon H.., @Frank Hinck and @Laticia Braxton, thank you so very much for your responses. Roofs on industrial buildings are really tricky. I did speak with other folks on site and they explained the "puddling" as being normal. This confirms what you both mentioned. I will discuss a hose test with contractor later today.

Jon, I'll reach out to you on my next project :)

@Ronald Rohde, the warranty is 1 year. however, the GC i used for this project and other projects has been reliable so far and any subcontractor he uses has returned passed the warranty period. We don't have a formal warranty clause in our contract, but we have it on emails. We've worked with the GC before so we kept the quotation process simple. I hope that doesn't bite me in the butt in the future :)