All Forum Posts by: Naeem Kapasi

@Harsh Patel, I would definitely stay in the suburbs for rentals. The reason is that you'll get more for your investments. Prices in the suburbs are obviously not as high as inside the inner loop, and a lot of big corporations are moving out to the suburbs. All the suburbs mentioned above are great places to invest. You just have to make sure you know everything about the area you want to invest in. Like, does the area flood, how high is the crime rate, good schools, job market etc. All of that is local in Houston depending on where you are.

Let me know if I can add more value to you in any way.

Good point @Ronald Rohde. I will also have my friend send the lease to his lawyer, to make sure everything looks ok.

I have been trying to reach the broker several times today, but no luck. I will try to call him later again.

@Taylor Hazard Thank you so much for great answers and info! So, my father-in-law has experience in Commercial Leases, so he is actually backing me up. He is unaware of the questions that I asked in my post, I guess I just wanted to get other opinions as well.

But yes, I can see how questions 4 and 8 might show how new I am, but if I don't ask about questions 3 and 7, how will I know what the landlord is willing to work with?

This is a brand new strip mall, so the developer/builder is selling it directly. I will have to deal with them as they have in-house broker in place.

I was actually thinking of suggesting free rent for the first few months to lessen the tenant's financial burden in the beginning. So I am glad that you also mentioned it.

I read a ton of articles last night about commercial real estate, and I will be reading more today :)

Again, thank you for your advice!

Hey good people,

A good friend of mine reached out to me and want me to represent him as his real estate agent when trying to rent a suite in a brand new commercial neighborhood mall.

He is a doctor and wants to start his own clinic, and has found a location he is interested in. I have talked to my friend and asked him how long he plans to stay there for, he is ok to start off with a 5 year lease with options for another 5 years, but mentioned that if possible, he would not mind consider a shorter lease as long as the price stay the same as the 5 year lease.

I have never done a commercial lease transaction before, and am therefore reaching out to your brains and knowledge.

I am going to call the landlord's agent and ask him about more information. What questions should I prepare for the call?

So far, I am planning to ask the agent these questions:

• 1.What Type of Commercial Lease is Being Offered?
• 2.We are interested in around 1500 sqft.
• 3.How much will rent be per sqft?
• 4.What is the minimum years of the lease contract for this price?
• 5.What services are included in the CAM fee?
• 6.What fees are subject to the lease?
• 7.How much will the landlord put in as finishing costs for a doctor clinic?
• 8.Are the Terms of the Commercial Lease Negotiable?
• 9.What Insurance Coverage Does the Lease Require?

Am I missing any important questions?

Any advice is appreciated!

Hey BP Nation,

A good friend of mine reached out to me and want me to represent him as his real estate agent when trying to rent a suite in a brand new commercial neighborhood mall. 

He is a doctor and wants to start his own clinic, and has found a location he is interested in. I have talked to my friend and asked him how long he plans to stay there for, he is ok to start off with a 5 year lease with options for another 5 years, but mentioned that if possible, he would not mind consider a shorter lease as long as the price stay the same as the 5 year lease.

I have never done a commercial lease transaction before, and am therefore reaching out to your brains and knowledge.

I am going to call the landlord's agent and ask him about more information. What questions should I prepare for the call?

So far, I am planning to ask the agent these questions:

• 1.What Type of Commercial Lease is Being Offered?
• 2.We are interested in around 1500 sqft.
• 3.How much will rent be per sqft?
• 4.What is the minimum years of the lease contract for this price?
• 5.What services are included in the CAM fee?
• 6.What fees are subject to the lease?
• 7.How much will the landlord put in as finishing costs for a doctor clinic?
• 8.Are the Terms of the Commercial Lease Negotiable?
• 9.What Insurance Coverage Does the Lease Require?

Am I missing any important questions?

Hey BP Nation,

A friend of mine reached out to me and want me to represent him as his real estate agent when trying to rent a suite in a brand new commercial neighborhood mall. He is a doctor and wants to start his own clinic, and has found a location he is interested in. I have talked to my friend and asked him how long he plans to stay there for, he is ok to start off with a 5 year lease with options for another 5 years, but mentioned that if possible, he would not mind consider a shorter lease as long as the price stay the same as the 5 year lease. 

I have never done a commercial lease transaction before, and am therefore reaching out to your brains and knowledge. 

I am going to call the landlord's agent and ask him about more information. What questions should I prepare for the call?

So far, I am planning to ask the agent these questions:

• 1.What Type of Commercial Lease is Being Offered?
• 2.We are interested in around 1500 sqft.
• 3.How much will rent be per sqft?
• 4.What is the minimum years of the lease contract for this price?
• 5.What services are included in the CAM fee?
• 6.What fees are subject to the lease?
• 7.How much will the landlord put in as finishing costs for a doctor clinic?
• 8.Are the Terms of the Commercial Lease Negotiable?
• 9.What Insurance Coverage Does the Lease Require?

Am I missing any important questions?

Looking forward to your replies!

Thank you so much for the great information! @Ryan Saulle @Max Gradowitz @Don Konipol

So I am looking for my next flip in Houston (wholesalers, let me know if you have anything!)

The reason I am writing this post is that I have two friends who want to lend me some money for the flip (I will put in some money of my own as well). In return, the three of us will share the profits equally between us. I have two questions related to this:

1. I want to set up a contract between us, that states that they are lending me money, and we will share the profit etc etc. Basically the terms of the loan. This is to protect ourselves, from each other, in case something goes wrong.

2. Who will own the house while it is being remodeled? Me alone, or the three of us?

If you have any other advice, please feel free to share them with me!

Thank you in advance!

@Travis White I am further behind you hehe. What are the full names of these wholesalers? Jet? H&L?

Thanks! Hoping to meet you in a REI Meetup!