All Forum Posts by: Kevin Richard

Awesome!

Thanks for all the advice.

Great news though, apparently, the new tenant has talked with the old tenant and is even going to buy out inventory.  So we SHOULDN'T have any problems.

Should be able to do an open lease take over or something to that effect.

Now, to find the paperwork on setting that up! 

 
Absolutely agree, I was just looking for the proper wording to do just that.

"Negotiate move out date" sounds like I'm letting them out of their lease.  I'm just looking to make sure it's clear that they will be responsible for lease until new tenant arrives.  Then make sure that the lease is terminated properly at that point.

The problem would be that they are keeping the name.  They have another location or two open with the same name as well as some franchised locations in other cities.

She wants out of her way of doing things so a franchise option wouldn't happen either.

I have a commercial space and the current tenant has a year left on her lease.  I've noticed business slowing down and suspected they might shut down (they have multiple locations).  She is talking about shutting down this location and asked what will happen.  I told her she would be responsible for the rent until a new tenant moves in (that's correct, right?).

There is someone (her manager) that wants to open up a similar type of business and has approached me about taking over the space.

The new tenant is concerned that if she does, the old tenant may get mad and try to come back and start trouble (being her lease isn't up or something).

How should I go about "terminating" her lease but ONLY after a new tenant moves in?  What is the proper protocol for doing something like that?

Thanks in advance,
Kevin

Where is the Analyze My Deal section.  I was looking for it but couldn't find it when I found Erik's thread here.

I came here for the same reason.

I found a few 4 unit multi family apartment buildings at about 164k each.  Rent for around 550-600/ month.  It's a rough section in a good side of town.  Possibly some section 8 potential if I decide to go down that path.

What is/are the best way(s) to analyze these deals?

Hope I'm not hijacking Erik, I'm just attempting to piggyback/consolidate.

Well, you can have a ton of codes but then almost any guess will work at some point.

BUT, we really can just do a couple of codes.  Like Main code for us that won't ever be fired since we own the business.  Then codes for long term employees and then a code for "temporary" use.  So we could change that code more frequently.

I can program RFID interfaces easy enough... but I'm more concerned about the mounting/lock options given the already in place configuration.

So my wife's business has a back door with a failing lock and we also have a need to give access to many different people.

We have a digital deadbolt on our house and we love it.  This would work great for this situation as we could change the code when we needed to as well as have different codes for perm employees.

Is it possible to just drop one of these on here, is there some other option or do I just need to replace it with exactly what we have and go with a real estate style key lock box mounted on the wall?

Sorry, they are all sideways, send me your chiropractor bill. ;)

Thanks,
Kevin

Thanks, that makes me feel a little better.

Kevin

 Wasn't always going that way!  Hopefully, this is all down hill from here.

http://www.biggerpockets.com/forums/311/topics/196040-looked-at-a-house-yesterday-said-we-were-100-and-now-he-says-sorry-that-he-has-a-cash-buyer-what-can-we-do-to-change-his-mind