All Forum Posts by: Brian Phillips

I am sending out direct mailers for commercial apartment complexes. Which is the best option for the address to send them to:

A. Property address

B. Property owner address

C. Property taxes address

I am leaning towards sending to the taxes address or owner's address. Wondering what others have used and been most successful with. Share your story if you will!

Negotiate it out.

The Ohio biggerpockets lease had a few mistakes, especially a major one concerning the writer not understanding how interest may be due on a a security deposit; their calculation was wrong and I emailed support about it--someone making a major mistake like that is a big issue to me, as any lawyer or real estate agent from Ohio would have easily caught it. I asked for a refund. I combined a few apartment complex leases and had a real estate attorney edit from there. Much better result overall. 

I'd offer 2800$. I would settle to get this work done for under 3000$.

Yes, this is common practice. Get your lease reviewed by a real estate attorney.

That is a very high price. More like 1200-2500$ would be appropriate for an investor. That is a standard amount. If you have a lot of afci breakers (ie bedrooms), or the access to the entry area is a far distance or more obstructed, it would be more. The electrician should be able to tell you that upfront, though. If you need additional panels beyond the first, add 800$ for each beyond the 1st. (the 1200-2500$ includes the price of the 1st panel, because that will almost always have to be replaced at the same time).

Get an appraisal. Use that value as sales price. Avoid realtors/attorney's fees. Use the standard state realtors contract. Fill in the pre printed blanks on the form. Profit. 

Account the expenses into what you would spend for the property. Then run the numbers. It either works or doesn't.

You should have a spreadsheet doc with all expenses. There are some here. Check J Scott's one.

In Ohio, it is required by law to transfer security deposit to the buyer (even if not in the contract). Find out the law in your area. Security deposits belong to the tenant. Don't concede on it.