All Forum Posts by: Nadir M.

Is this an agreement that you had your attorney write up or just a written agreement between you and your tenant? Do you have an example of said agreement? 

Thank you, 

Thank you for the information. Great point 

How do you suggest handling the tenant trying to leave the property a month early? Should I just keep his deposit if he’s not willing to pay another month or have him pay and give him the prorated price when property is ready to turnover or should I just let it go so that way, he can have the property as clean as possibly can be 

thank you

This absolutely helped and yes I do have a great relationship with my tenant. I will be going to visit the property this upcoming weekend and will walk through to make sure that it’s not a complete mess. 

Hi BP community, 

I currently have a property that is about to become vacant. Tenant will leave April 30th even though his lease expires May 31st. My main question is regarding interest in viewing the property, by future renters, and how to proceed. The property is currently listed for rent, I’ve had some interest stating that they would like to view the property. Obv, since the tenant is still residing there, it’s hard for me to figure out how exactly how to conduct viewing. I’m also out of state but my Dad is my boots on the ground. Any suggestions or help is greatly appreciated. 

Thank you, 

Investment Info:

Other commercial investment investment.

Purchase price: $620,000
Cash invested: $425,000

Initial investor of the Garage Den in Centennial CO. Open April of 2024. I was one of the four original investor to raise capitol to get the loan for construction. Very excited about these. Ventured outside of my niche and hopeful of the future opportunities. Check out the site for more details: https://thegarageden.com/

What made you interested in investing in this type of deal?

Great opportunity to own a one of a kind luxury Garage Condo located right across the Broncos Training Facility. Great need for this type of investment. Business owners looking for storage or car fanatic looking to securely store their "toys"

How did you find this deal and how did you negotiate it?

One of my good friends asked me to join. I did not hesitate and was very appreciative of the opportunity.

How did you finance this deal?

I cash out refi all of my single family investments during the times when rates were at their lowest. So I was able to get the cash that I needed while refinancing all of my investment properties at a low rate for 30 year terms.

How did you add value to the deal?

New build...i was able to add value by choosing to build a mezzanine to increase sqr footage.

What was the outcome?

Will get first unit in April 2024 and second unit in December of 2024.

Lessons learned? Challenges?

Challenges was with city of centennial. We were suppose to have all our units by Summer of 2023. Pulled through and shortly will be able to occupy.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I did not. Being a Broker myself, if I plan to sell, i will do the selling myself.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $190,000
Cash invested: $38,000

Found this property while listing one of my nearby properties for rent. Tenant told me the owner of the property she's currently renting is selling and she needs a new place. I was able to talk to the owner and I ended up buying his property and keeping the original tenant. She's been there this entire time and i've had no issues; win-win-win!!!

What made you interested in investing in this type of deal?

The situation that presented itself was an opportunity i couldn't pass up.

How did you find this deal and how did you negotiate it?

I found it while listing one of my current rentals for sale. The tenant came up to me and told me her landlord was selling. She was begging me to place her in my property. She had a recent bankruptcy claim and some of the other applicants were more qualified. I did feel bad and wanted to help her. I talked to the owner of the house she's renting and asked if I can buy and I will keep her. We negotiated a deal, his wife was the agent, so he was able to save on commission and i got the deal.

How did you finance this deal?

Conventional 30 years

How did you add value to the deal?

I got the house below market value because it was off market. I didn't add much value as the tenant never vacated besides appreciation of course. 

What was the outcome?

Tenant stayed and is currently there 3 years later. Previous owner was happy because he didn't have to pay any realtor costs and did not have to deal with placing house on market. I am happy because I was able to purchase the property and help someone in need. She was also able to keep her kids in that same school district too.

I think that's well said, as good as their experience, true for most! I did find an agreement online and will read through it and capture what's relevant. Appreciate your help!

That’s what I was thinking…I guess I figured they would be like the lease templates that BP offers that were verified by a lawyer. 

Hi everyone,

Navigating through BP, I was able to locate lease agreements between Landlord and Tenant but nothing in regards to Property Manager and Owner of the property. How can obtain such agreement that's verified like the ones on BP. Any help is greatly appreciated, I don't want to chose anything that not absolutely verified by a credible source. 

Thank you,