All Forum Posts by: Gustavo Vargas

I have used both and actually about to decide again on one of my properties that just became vacant but has carpet, vinyl planks and tile. I have used the allure and it looks beautiful holds up well and properties rent very fast. tile i have used is the same one mentioned above from HD or Lowes, I think the key is to make sure it goes with the property type and wall color ( I use same color on all my walls) both properties rented fast and keep renting fast after wards. Durability of tile can't be beat only possible draw back is the grout getting dirty after a few years and as you know tenants will not care much about keeping clean so make sure is sealed properly and plan on having it clean every few years and will keep your property renting fast. So far i have 3 moves out on the allure and people just love it. they all think is close to real wood. Is more expensive, i used it on the "higher end" property but like i said it rents quickly! with the comments always being " what a beautiful floor". Not sure i helped but that is my experience so far.

Hey Kyle Thanks for your response and input. I will take a look the links and also start asking around some lenders. I not sure why but it seemed to me that every other lender/broker kept telling me that i can only have 4 mortgages. thanks again

Hello All, I am trying to plan ahead for any possible ( imminent ) interest rate hikes. My situation is this: I have 2 investment and my private home with conventional mortgages and i also have 4 other properties with in house bank loans that ballon after 5 yrs (20 yr amortization). Since i dont see the rates anywhere but going up in the future, i would like to convert my bank loans into some kind of commercial or other type of fixed rate loan. I understand i am only allowed to have 4 conventional mortgages under my name, so i was planning on converting the higher interest rate bank loan property to my last conventional option but, i am not sure what to do with my other ones. My inhouse lender suggested when i initiated the loans I just refinance with them when he ballon comes up; but I am afraid the rates will be much higher then. I still have 3 to 4 years before some of this loans ballon. I also have come accross another property that i will like to buy but a little hesitant since I want to have a plan for this loans. I guess my options are bundle the loans under a commecial loan, or separate loans each property, try off and or sell some of the properties before the balloon, or risk the possibly refi with higher rates ( which is why I originally used the bank loans, lower rates).
I must also add thatthe bank loans are under a single member LLC. I have excellent credit score and my income is solid ( which is why my local lender is willing to keep financing me) I appreciate and welcome all your suggestions. Thank you
Gustavo

thanks for the suggestion, i will look for it.
g

Can anyone recommend some books on commercial real estate. I am looking more on the retail investing. Strip malls, etc rather than multifamily. Thanks.

Thanks for the link to the tx code, will actually copy and paste to my leases. Just paranoid after hearing my friends experience.

Thanks for the replies. I figured that once I tell the tenants and is on
My lease they would be responsible. I just don't know the specific law to my locality regarding that and was wondering what everyone else was doing. Of course the safest thing is just to do it but then again I wonder how much does that opens me up to liability in case of a fire and or worse, death on one of my properties because a faulty or death battery in a smoke detector. Reason why I was asking a friend told me he was being suit because exactly that's what happenend to him. Someone died on his properties after a fired and were trying to rope him in. Luckly he had records he had tested and changed batteries. Which saved him but still cost him a ton of headache.

Hey guys who is responsible for checking the batteries and making sure the detectors are working properly after the tenant has moved in? ( assuming properly working and tenant check off on them) I am
In Texas, I am converting this particular property to hard wired detectors but want to wait until tenant changes. I am just trying to mitigate any possible liabilities. Thanks

Thanks for the feedback. I will be contacting some commercial
Brokers soon. Parking shoudl not be a big issue since the building came with an extra lot on top of 40 to 60 extra spaces. I plan on developing slowly a first to have the first tenants help pay for my later expenses. Demo already begun and engineer and architect meet coming. They will give me some input. I have also had another consult with another commercial developer who suggested 7 to 8 retail spaces. They will
Present me their plans soon. I have to do more research before in pull the trigger on one plan or the other. As it stands I already have some people asking to rent some of the space for retail so I might just do all of it retail. Thanks for feedback. Will keep you post as rot which direction I take.

Hello All, I am new to the commercial market. I recently acquired a 10400 sq ft building that used to be a factory. It is zoned industrial but i will be re zoning to c2 commercial retail. My plan is to subdivide the place into smaller retail spaces for half of the building and maybe use the the other half as a party space rental ( in big demand in this part of town and with demographic). my question is this? how big should the spaces be 1000sq ft and higher? 750sq ft ? and what type of lease should i ask for. less than than 1/2 mile from me, slightly higher traffic count, i have a friend getting $1000 for about 750 sq ft. without out a problem Not triple N. i like to hear what the more experience investors think.
thanks
G