All Forum Posts by: Manish A.

Hello I have a couple of fully paid off commercial properties. I'm looking to get a 2nd mortgage on one of these. Any lender recommendations? I called a couple of banks (Pen Fed, Bank of America) - both said they don't do this type of loan. Thanks in advance! Miz

Thank you. HOA fees did not go down.

Hello!

I own a 1600 sq ft commercial condo in a 5 story medical building which is rented.  For years the condo fee (which I pay) has covered the cleaning of the interior of the condo, which was 5 days a week.  Starting next month the condo association will no longer provide this service and the cleaners will only service the common areas.  The tenant (doctor), who is new and has only been there for a month, has hinted that he feels I should continue to provide this service at my expense.  

I reviewed the original contract, and there is nothing in there addressing this subject.  I personally do not feel routine cleaning should fall on the owner.  

I apologize if this seems like a rudimentary question.  This is the only property I own and am not the most experienced at this.  Any thoughts on how to best address this?

Thanks!

I guess one specific question is - what should we tell her when she inevitably asks why we want the property?  Won't she want to drive up the price if she knows the truth?

Miz

Lady has a commercial property between 2 of our empty commercially zoned lots.  Would be of high value if we could acquire hers and be able to combine all 3 lots.  From what I've heard she's in her 50s and only using the property one day a week for her business (psychologist), and has a main office elsewhere.  

Our plan is to approach her with a nice offer, maybe include free rent for a year after the sale to give her time.  

Since we want to do this right the 1st time, just wanted to get any advice of DOs and DON'Ts in a situation like this or any other helpful thoughts?

Thanks

Miz

@Bill Gulley

Thanks so much for your excellent response!

1- any websites you recommend for my appraiser search, or should I be looking for a personal referral, or should I just google "commercial appraiser ZIP"?  Do you have any specific recommendation in the DC metro area?

2- not sure what you meant by "It's not always up to you from a market aspect, unless you build it."

3- is your website down?  Not able to get there.

Thanks!!

We own a 64,000 sq ft area of commercially zoned land in a busy area in Maryland.  

How do we determine the most profitable use for the land?  Options include multi tenant (retail strip), single large tenant like a CVS, medical bldg, etc.  

Are there any companies that could help us figure this out?

Any help is greatly appreciated.

Thanks

Manish

@J Scott

What's the status on your book?

Miz

Any other comments?  I'm trying to the difference between private money lenders and hard money lenders?

Do these terms essentially mean the same thing?

Thanks

Miz