All Forum Posts by: Jennifer Lee

wow this is new, I never thought about increasing rent annually.  On a residential lease? 

I understand when 1 yr lease is up and you negotiate a new term.  Wouldn't you lose your tenant to sign this upfront??

I am going to let @Joel Owens take this one ;p  

I would assume your landlord has a lease they use, so you do need a lawyer to look it over.. 

I am not an expert, I am still learning...

I have negotiated lawyer to lawyer, that almost cost us the deal and racked up $$$ for the lawyer. we ended up going to a coffee shop with the tenant and asked her face to face without our lawyers... and she said she was confused b.c she agreed to everything, I said we agree to everything too.... the lawyers were knit-picking at stuff... to draw out the negotiations.  We signed the lease then and there. and she is still our tenant 3 yrs later. Our lawyers were not happy, but sometime we have to do things ourselves.

Now I have our lawyer draw up the lease, tenant looks over with lawyer.  Tenant/lawyer will direct issues with us. not to my lawyer. And negotiations has gone smoother and less costly for me ;p

congratz!! interview the firms around your area to find your fit

I am investor and got my license. my first brokerage had good training to be an agent. because I didn't mind being an agent. and I got my awesome training, Foreclosure cert and commercial license through them.

But I had to leave bc we just didn't see eye to eye and but heads bc i work with investors and distresses properties aka no $$$

I moved to my current broker, and she is also was an investor.  I hit the ground running, and I increased my commission by 100% b/c they let me be me, and do what needs to be done to close deals.  I am taking personal time off now for elective surgery and they don't question why I am down...  

my previous broker was in SALES, and it was about make $$ more than building relationship. I had to use their vendor even though they arent up to my standards.  I work with crazy strange stuff I need experienced and one on one service with my vendors.

It's all negotiable, have an open dialogue with the landlord.  I am usually the landlord so we are the ones who usually end up drafting the lease.  Then my tenants will have their lawyer look over, and we go from there.  

I have to say, of all my 8 commercial tenants, all the lease are very unique to our different needs and wants.  it's not a "standard" by any stretch.   

I don't have much experience with buying agent.  I am one, and usually they ask me if I have done strip mall and etc. my answer is no... so I guess they move on hahahaha.

But if you are talking to the Listing agent, seller, you may want to ask:

1.the details of the property. ZONING, USE, TRAFFIC COUNT, SURVEY, RENDERING,

2. Rental Rate in area, Vacancies...

3. If Tenanted, how are the lease setup, Triple NNN? Lease expiration? If tenants are staying? Rent Roll and history

4. Common maintenance, what are they, and who pays for what?

5. Are utilities separate? Elevator, sprinkler, security system up to date and inspected.

then I would double check with tenants and county

Good question, Are you talking to a listing agent or buying agent? 

That's a great post. I was thinking about my why today. I just really like real estate investment.  I can honestly say I have passion for it. 

I like that can bring us financial freedom. I feel I was put on this earth to do this, real estate thing, so it gives me a sense of purpose.

BUT I also like that I HELP people with real estate. I don't choose it, but my clients all are distressed in one way or another. I like the challenge to help them, and I love learning new things along the way. 

@Charles Coaston it was nice talking to you today.  Congrats on getting your RE investment start, everyone does everything differently you will find your niche and way.  So far you have been doing the right steps.  Work the deal analysis and keep moving forward, learn the tools of your trade. If you need help you have my contact ;p

thank you for this post, I was thinking to ask this question.

I was on another post talking to @Joel Owens about doing new construction, he suggested something already built.  But I haven't had any luck finding larger apt complexes in my area.

I am a newbie commercial agent (more resi-mercial), We are looking to expand our portfolio. 

I m looking to build relationship, I prefer to buy locally so, if it has to be out of state, we need to figure it out.

I have done Long-Distance property management with some success when I had trusted boots on the ground. 

any ways thanks for this post  

Since you want to use it for family, I would suggest a place you would want to visit.  Then see if the numbers works out.

I am looking for a lake place, but when we found out spot, we decided to just VRBO it. hahaha

the numbers didn't make sense.  

So bottom line, is what you want and what is investment may not be the same thing ;p