All Forum Posts by: Shay Reddy

I am a builder, building a commercial class A strip mall in lewis center, ohio - 50k sft on the NE corner of Orange Road and 23N - I am looking for a broker who can get me national NNN tenants leased and some anchor tenants - find me

3 Votes

Columbus, Ohio

I have some retail tenants who are not paying rent due to force majeure & covid19 Realistically their sales dropped and the government is not allowing them to operate their math tutoring place.As the government is not allowing them to run classes over the summer so they are basically dead in the water. I know I can sue them and force them to pay up as they're also personal guarantor on the lease. But realistically what are my options to cut my losses. Hopefully make a win-win out of a bad situation.

0 Votes

Has anyone received an eidl loan for rental properties. If so what did you use the funds for and is it a good idea to take the loan if you're approved? Do you have any tips on uses for the money?

0 Votes

I am looking for the same, I need a Starbucks like tenant broker ..or someone who has tenants for a rockstar NNN location

0 Votes

Simple solution is to Write checks then .

0 Votes

Personal banker can waive all kinds of fees and figure it out for you . Or just go to another bank that will have your business.

I like to keep things compact - so i dont deal with many different LLCs.

Originally posted by @Kim Hopkins:

@Shay Reddy So we met with Chase and they were great. I did want to make one note on this just to get an answer out regarding the electronic transfers. So if you're a personal private client with Chase, they will waive all fees on outgoing wires from your PERSONAL account. However, for the fee waiver to take place on BUSINESS accounts, you need to keep $50k (if you're already a personal private client) in EACH business account for this feature (or pay $95/month for each account). Since we own 10 LLCs for each property, this is not an option.

I'm thinking we'll workaround this issue by having one personal account assigned to each LLC that is acting as an LLC account and we can transfer the distributions into that account first and then wire them for free to the investors.

Sound good?

0 Votes

No..not really I am.in ohio

1 Vote

Chase is awesome ...I have a personal. Banker who will bend over backwards for all the usual Bank stuff. For my loans I prefer credit unions and smaller banks. But all the run-of-the-mill stuff at that wealth level a lot of fees are waived and you get a real person to take care of all the BS. I use a personal banker her name is Kavita and she's at the sawmill road branch in Columbus Ohio. Give her a call if she will walk you through everything you need, and set you up with a private client account in your area and hook you up with a great banker

1 Vote

All Forum Posts by: Shay Reddy

Shay Reddy has started 10 posts and replied 46 times.

Post: Need commercial broker for NNN national anchor tenants Class A

Post: Need commercial broker for NNN national anchor tenants Class A

Post: Class A strip Mall - Need Broker for commercial NNN 43035

Post: Retail tenant not paying rent - Covid Force Majeur

Post: SBA eidl loan and what did you use it for

Post: Commercial Land Under Contract 33k VPD

Post: Electronic Distributions to Investors

Post: Electronic Distributions to Investors

Post: Philly Commercial Real estste

Post: Electronic Distributions to Investors