All Forum Posts by: Mark Gallagher

@Finian Butcher Ask for a signed receipt from seller that they received your offer.

@Wayne Connell Yes this is commonplace. It’s rentable space. Perhaps he is planning on staying as a tenant after he sells. You’d want to make sure that the zoning allows for the use, and that market rent is what he says it is. Sounds like it’s a small office and the rent is small, so it should be easily verifiable.

@Mauricio Alvarez For a buy and hold? The key is local boots on the ground. Do you have a reputable property manager with vetted references?

@Ana Marie B. It would all depend on what your contract said was to be delivered at time of sale. Are you first home done in the development? If you’re first home in, I’d imagine Comcast isn’t in a hurry to get one home on it’s grid. Do you have a phone line? I’d imagine DSL internet service is still available. You also could get satellite internet.. Or simply use your cell phone hot spot.

@Aaron Booker I use the PA Realtors approved lease in PA. Perhaps you can get access to a Realtor approved lease in your area, or better yet have your R.E. attorney draft one. They likely have a boilerplate one already made.

@Michael Davis

Hit the streets looking for people working on renovations nearby. 

Fully renovated, the definition of turn key. Excellent tenants in place. Landlord pays water, sewer, garbage, and gas for hot water. Off-street parking. Stellar location. 

@Michael Ohman

Are those strictly fees, or are there pre-paids and escrows going into the $5K? No matter the loan value, the effort that goes in is the same give or take for the lender.

@Jonathan Yip

What was the outcome?