All Forum Posts by: Greg Doyle

Hey everyone,

I own a small commercial real estate property, and have been approached by a potential tenant who is considered extremely successful. This tenant's team has done billions in sales and acquisitions. They seem very friendly.

The potential lease involves a recreational marijuana dispensary; which is legal in our state and okayed by the bank. The verbal details sound very favorable. Of course, we will be having our local lawyer take a look at the lease.

I'm hesitant mostly due to the overwhelming legal power and experience that this tenant would have compared to our small LLC. In the past we have only dealt with local tenants who would do anything to avoid legal fees, but I have a feeling this company has a full time legal team on it's books.

Obviously I would like to assume everything would go smooth throughout the lease agreement, but I'd like to be prepared for anything.

My main concern would be some type of rider or legalese where the tenant could potentially push my LLC out of ownership. I've never heard of anything like that, but I wouldn't be able to accrue hundreds of thousands of dollars in lawyer fees in fighting anything thrown at me.

Are there any tips the community would suggest I go about, or avoid considering the details above?

Really appreciate all of you! 

Thanks for all of the tips guys. I’m not sure, but I have a feeling it’s a OCD thing. The house is nestled in the woods and an occasional mouse is bound to happen. That being said, I have verification from my pest control company that the property is currently pest-free I’m doing my best to appease them. I appreciate the feedback from the community!!

Hey Guys, I need some advice. I have 2 tenants who pay their rent on time and are otherwise great people. They found a mouse nest and mice droppings in the basement the other month. I immediately contacted a pest control company and got the issues resolved. I also informed them that they could contact a cleaning company to clean the area. It seems their expectations for cleaning the area are unrealistic IMO. There are no areas where they can come into contact with mice or feces, but they seem to want every nook and cranny of the property turned upside down to basically make it as though the property never had a mouse in it ever. They mentioned removing drywall and removing the drop Ceiling to recover mice that have passed away and old rodent nests. Then replacing the structure... The place is spotless. Is it unreasonable for them to request this level of cleaning?

Hey Guys,

My name is Greg and I'm new here. I'm looking to buy in Massachusetts, within 10miles of my business. I just got preapproved today :) $700k with 3 tenant incomes. I'm looking to buy a live in Quadplex with 3.5% down FHA loan.

Let me know if you guys have any tips! 

Thanks!