All Forum Posts by: Richard B.

Joe Villeneuve I buy commercial properties - purchase prices are higher and typically quite complex transactions. very easy to justify the time. It’s quite convenient that you don’t need to do that but I believe you must be working a different niche.

Online tools and apps are great ways to screen properties and to learn the area but nothing fully replaces going there. I always visit before submitting an offer. It’s a big investment.

How about you consider to drop the application fee and raise the rent a little bit to cover it!

@liz C. If it’s a condo perhaps you can get a few neighbors to do it with you to share cost? Or the board? Not positive how it works best. I’ve always hired a local tax dispute company to do it. Suggest you ask around who does it in the area.

Yes - I thought you might do better on the purchase price. Seems like a solid deal. Good luck!

Also look at the price you are paying per square foot and compare that to similar properties to see if you are paying market , above or below on that basis.

The numbers look good on this deal! That’s true even if the higher rent doesn’t happen. I’d suggest you use a broker to negotiate the lease. You say you are a beginner and he will earn his fee if he can get you such an increase and you will learn in the process too. There are plenty of details that can mess you up You likely need to put 30% down. Check out tenant credit worthiness. How do the rents compare with nearby similar properties? Do tenant pay on time? You might in my opinion be better off getting it under contract and go to contract without a higher rent contingency. hopefully you can secure it at a discount this way based on current rent as presented to you and then work on the increase later on with a broker once you own it. The discount you get could pay for the broker and improves the numbers even if the increase doesn’t happen.

Thanks James McCard It’s near Jennings Road / Weston St intersection Not far off 91.

What’s the net operating income? (Gross rent less expenses). That will help you to determine what you can offer.

I just looked at the crime statistics heat map - very interesting, thanks