All Forum Posts by: Chris Cosmas

I want to purchase a new 6 bedroom duplex in Phila . Two uniits with 3 bedrooms and 3 baths per unit.

The pro forma for the property projects top dollar in the zip code. If rentals hit the $4300 projected for

both units , the property will cap rate at 6.5%. Expected returns,6.5% , for new construction returns in 

phila.  I want to include a " lease contingency clause " in the agreement to give me time to obtain

two leases to hit the combined rentals of $4300/ month.  I need ,sensible and fair ideas for seller and buyer,  how to present the terms of 

the contingency clause in the sales agreement.

What is the best way to take title for a new Triplex in Phila, Pa.  I was approved as an individual and received a favorable rate , 4.85 on

a 30% down payment and  30 year term.   Insurance agent, said I can carry more than enough liability coverage to cover contingent liabilities.

In addition, my bank does not do commercial loans for real estate.

In regards to the LLC , I can secure a loan, but will be paying a higher rate and have a 25 year term. And have the protection of

limited liability.

Be interested in hearing comments.