All Forum Posts by: Jeremy Sexton

Hello all, I'm currently in the process of helping an owner with due diligence for a 10 story office building. I've had several management/maintenance companies walk through. I know this is a complicated building mechanically, however I have no clue what to expect in a yearly contract for a management company. 310,000 sq ft. (1) Property Manager (1) chief engineer (1) Lead Engineer (1) General Maintenance Engineer All vendors and contracts are to be handled by management company. Can anyone help me out that has experience dealing with or is with a property management company? I don't know what a good number is for this yearly. I've done duplexes but nothing this big. The numbers I've gotten so far are quite drastically different. I made sure that the same scope was presented to each. Can anyone help me... Sincerely, Jeremy

Thanks Michael.
I do have the 25 percent down and they asked me if I did. It just hit foreclosure and they said that they would get back with me. I plan on following up but I do not want to lose out on this property bc it's my first commercial purchase and i wasnt aggressive enough in gathering the info quickly. Is there any way to get this information while I wait for a response or should I just calm down and wait?

I'm interested in a foreclosure commercial property. It has 3 class A buildings in a fantastic area. The buildings are 80 percent occupied from what I've been told and they are in great shape. I've had dealings with these properties in the past on the engineering/management side of things.

Question: how would I go about getting more information from the bank on these properties as it doesn't seem that they took me very seriously?

I would like to know accurate vacancy rate. Current lease information, etc to help make a decision. Is there a better way to go about this?

I apologize for not being able to direct this question towards anyone particular person but I am new to this site and to commercial purchases. I've experienced these from a property management view point. Now that I am looking at it from an investor stand point I'm a little intimidated.

Thanks.