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All Forum Posts by: David Wolber

David Wolber has started 11 posts and replied 124 times.

Post: Best Credit Card for LLC?

David Wolber
Property Manager
Posted
  • Property Manager
  • Groton, CT
  • Posts 128
  • Votes 80

We love the Marriott business card.  Free night yearly, and the points build up fast if you like to travel.  There is a $100 a year fee, but we think it's totally worth it!  We put our monthly business expenses on it like phone and internet on there as well and they get extra points over just normal purchases. 

Post: Renovating a space for a future tenant. TI Ameritization??

David Wolber
Property Manager
Posted
  • Property Manager
  • Groton, CT
  • Posts 128
  • Votes 80

Hey BP!! A few things first: This is my first post about my first (only) commercial property with regards to our very first perspective tenant. Yup, that new…

ANYWAY, I’m looking for advice on an idea I have about renovating a space for a future tenant.

We have a commercial space with 4 offices sharing a shared waiting room.One of which my business partner (and wife) operates her therapy practice out of.

We were approached by an established massage therapy practice who is interested in renting all three offices.

My wife doesn’t feel like she wants to be the only metal health therapist in HER building. She had an idea about a collaborative environment for other therapists.

We also have 800 sqft of area on the 2nd floor that hasn’t been fixed yet and therefore no CofO for that area, but could be renovated and obtained in under two months and about 10k in expenses. It could be improved to be two additional offices very easily.

Is it a good idea to offer to renovate the space FOR them in exchange for a longer lease and higher rent? My idea would be to amortize my expenses in a two year lease.

Also, since we only just finished the renovations on the first floor, we are very cash poor currently and would have to finance the cost of the improvements.

Is there a better way to do this? Is this a terrible idea? Please advise.

THANKS!!!

Dave

Post: renovating a space for a future tenant

David Wolber
Property Manager
Posted
  • Property Manager
  • Groton, CT
  • Posts 128
  • Votes 80

Hey BP!! A few things first: This is my first post about my first (only) commercial property with regards to our very first perspective tenant. Yup, that new…

ANYWAY, I’m looking for advice on an idea I have about renovating a space for a future tenant.

We have a commercial space with 4 offices sharing a shared waiting room.One of which my business partner (and wife) operates her therapy practice out of.

We were approached by an established massage therapy practice who is interested in renting all three offices.

My wife doesn’t feel like she wants to be the only metal health therapist in HER building. She had an idea about a collaborative environment for other therapists.

We also have 800 sqft of area on the 2nd floor that hasn’t been fixed yet and therefore no CofO for that area, but could be renovated and obtained in under two months and about 10k in expenses.  It could be improved to be two additional offices very easily.

Is it a good idea to offer to renovate the space FOR them in exchange for a longer lease and higher rent? My idea would be to amortize my expenses in a two year lease.

Also, since we only just finished the renovations on the first floor, we are very cash poor currently and would have to finance the cost of the improvements.

Is there a better way to do this? Is this a terrible idea? Please advise.

THANKS!!!

Dave

Post: Connecticut!!

David Wolber
Property Manager
Posted
  • Property Manager
  • Groton, CT
  • Posts 128
  • Votes 80

Hey, I'm very new to this game, Wife and I just bought our first commercial space 4 months ago and JUST got it up and running.  Anyway...

Check out this link about the biggest employer in the Groton area building and building.

http://www.ctpost.com/local/article/Electric-Boat-...