When I first bought the building I did not know the difference of NNN or gross leases so I just copied and pasted the previous owners lease.

A little about me:I hold a Certified General Appraiser license and have been working in corporate and commercial real estate for over 25 years.My recent focus has been on property investments and appraisal work, including commercial and residential properties, lease-to-own agreements, and broker price opinions (BPOs).I’m always looking for opportunities to expand my portfolio and knowledge in real estate, and I love analyzing market trends and valuations.I’m here to connect with other investors, share insights, and learn from the wealth of knowledge this community offers.

@Jon Martin You are right , if you don t know how to market a property and get direct reservations you should not attempt to co-host or triple net lease a property.You fail to mention that leases on a property can be as long as 30 years.Long leases are a way to give both property owners and management companies favorable terMs.

I paid $260,000 and just knew I could sell it for $400,000 - $500,000, or if I chose lease it for $10k per month.  

a big problem with coin laundry where you rent is you are at the mercy of the landlord and remaining lease terms.

They learn Sub2 and Seller financing, maybe even lease option, strategies.  

While 3-5% increase is the tolerable 'nice' approach, it isn't on you to absorb market increases in expenses if you aren't on a yearly lease with your tenants.  

These can be lease terms like charging a bit more for a month to month term or charging more for a more desirable unit.

My current tenant wants to add their boyfriend to the lease.

The client is currently in lease negotiations for a 36 month lease with the option to purchase the property at any time during the lease.