All Forum Posts by: Doug McRae

It seems that this article is about big indoor malls. I am talking about a 4 to 6 unit strip mall.

Strip MALL... sorry.

I am looking for tips or advice in buying property and building a 4 to 6 unit strip mall. What kind of capital should I look at having? How hard is it to get commercial loan for this type of property? Average time to complete? Rent prices as opposed to residential?

So I am not the owner but began managing the property at the beginning of the year. The owner did not vet the tenants well and have been delinquent several times throughout the year so does not want to renew with them. I told him to offer “cash for keys” but the owner is not up for that option. Eviction it is. Again thanks for all the feedback!

Thanks everyone. Was hoping there was a different avenue I could take since the lease is over. Still learning the ropes. Thanks again for the advise!

I have a tenant that is ignoring my attempts to contact, his lease ends tomorrow, he was given 30 days notice that lease will not be renewed. I just drove by the property and it looks like no one is moving out by tomorrow. What are my options?

I am looking at purchasing an 8 plex but am not liking the commercial loan terms I am finding. It is 8 Condominiums in a row. Is it possible/legal to purchase them in 2 groups of 4 and qualify for a traditional loan?

Christopher Phillips you are not entirely correct. In Louisiana the homeowner has no way to retrieve the property AFTER the home has been through the auction. He said the property was pulled before the auction could take place. They could still work out an agreement with the mortgage company if you could come up with satisfactory terms but you would have to make the loan current. Here is an excerpt of the law: Right to Reinstate Before the Foreclosure Sale in Louisiana “Reinstating” is when you catch up on the missed loan payments (plus fees and costs) in order to stop a foreclosure. (Learn more about reinstatement to avoid foreclosure.) Louisiana law does not give the borrower the right to reinstate the mortgage loan before the sale. However, the terms of the mortgage contract may permit reinstatement or the foreclosing party may agree to let the borrower cure the default and reinstate.

Matthew Kurtz go to this website https://geauxbiz.sos.la.gov/ the first step is reserving your business name. Then you have to register for a Tax ID number. Then once your name reservation gets approved you can go forward and create your LLC. It is a very straight forward and easy process and is done all online now. I think total cost was $105.

I think you're in the wrong place...