All Forum Posts by: Thomas Morgan

We are redoing our trailer park leases and park rules and have come up with a comprehensive set of docs. However, wanted to see if anybody had any best practices to offer.

Great replies already. I would keep charging them but offer: if you can get a tenant or if they bring you an acceptable tenant you will let them off the hook on a prorated basis as to when the new tenant starts. They committed to the time frame when they signed the lease.

Ditto Jon Holdman and Aly L Get them out. Pick better tenants next time. Check out some of the landlord podcasts about how important interviewing and being a firm landlord is. Also check out landlording on auto pilot book.

Adam Johnson I did not know that about NY. Thanks for pointing it out Andres Rossini they earn more but not more expensive Find a CCIM in your area here: http://findaprofessional.ccim.com/search

Great points Adam Johnson but CCIM has nothing to do with state laws and advice people can or can't give. CCIM is "extra" education and qualification for brokers, developers, bankers, property managers or anyone else involved with commercial or investment real estate. CCIM is considered graduate level education in the field of investment real estate. Yes, it makes sense to use people who specialize and are at their top of their fields like a CCIM. Let's not confuse designations with licenses though. (Disclosure, I am a CCIM. The benefits of the education and networking have paid dividends a thousand times over.)

Ditto Chris Martin most commercial lenders are portfolio lenders thus they keep their loans in house and don't sell them in secondary markets. Therefore they can loan on your properties as a group and keep the loans in house. Another option is do individual loans on each property with a normal residential lender. This route would be more cumbersome but most likely less expensive. Residential lenders have the smaller set fees like loan app and processing. Commercial lenders are going to charge .5 to 1% of the loan for origination plus other fees.

Use by right deals are fairly easy 3-6 months. Issue is CDOT on ingress/egress. Larger full PD or zone changes are hard in the mtns and face a lot of opposition. There is one here in Carbondale that has been denied 3 maybe 4 times over ten years by both city council and public ballot. Do a google search for Crystal River marketplace Carbondale. The Glenwood paper has some good history on it.

I like the new profile pict Joshua Dorkin getting all professional on us

Anyone do business in Sparta IL or Randolph county? 50 miles from St Louis. I have a deal I am considering there. Deal has tons of upside but market seems "Podunk" as Joshua Dorkin would say.

What sources are you using to find high rent to value markets across the country? I suspect census.gov has some data that would help sort markets with high rents and low values but have not found it. I am going to check with CCIM Site to Do Business (ESRI) also. Thought maybe someone here has a trick. Thanks!