18 November 2021 | 1 reply
I'm looking for layout ideas and a design that looks a little nicer than a generic building and maximizes the limited space I have.
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19 November 2021 | 2 replies
Give both of them a notice and explain they are entitled to quiet enjoyment of their space and when quiet hours are (look up your local info for the city).
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16 January 2022 | 7 replies
Not only is there massive unit shortage in the rental space, but there is price impacts forcing tenant movement, and that means higher than average activity.
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19 November 2021 | 2 replies
I found commercial property interesting, but who will rent the space?
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21 January 2022 | 7 replies
Here is a list of due diligence item I use on my MHP investments:Check zoning and permitting compliance (city zoning)Check local law compliance (with Sherriff and/or Police)Search City Council minutes for any adverse mentionsCheck with State Department of Public Health's Division of Community Environmental Protection (CEP) for compliance violationsCheck with property neighbors for any disputes or pending legal actions Water - Check with water provider for any open or recent issuesSewer - Check with Sewer provider for any open or recent issues or complaintsElectricity - Check with electricity provider for any open or recent issues Rent roll with space number, name of resident, move-in date, renter or owner occupied, number of occupants, monthly rent, additional charges, current balance due and any relevant notes about the residentList of capital expenditures for the last 3 yearsGet last 2 years of Profit and Loss statementsGet last 2 years of Tax Returns for the LLC/Park12 months of Bank Statements for the LLC/ParkCurrent Accounts receivable statementsBuild proforma for next 5 years using rent roll and expensesGet owed taxes to City/County/Local govGet Insurance Quote of commercial liability insurance2 years of utility billsProperty Tax bills for last 2 years List of park owned home including copies of “rent to own” or sales contractsGet list of vendors and contract status for each vendorTalk with on-site property manager regarding issuesConduct Onsite Property Visit with property managerSpreadsheet detailing who pays all utilities including water, sewer, gas, electric, trash, cable, etc.
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11 January 2022 | 4 replies
The rest would be financed.Based on my calculations...IRR of 48% per year; 15yr holding period.Now since I am the source for this deal and will take all the steps from negotiating purchase price etc; bidding to lease the space, negotiate terms of the lease, oversee the tenant improvements etc.So the main thing the partner is contributing is the capital for down payment.Whats a reasonable partnership split for such a deal?
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29 December 2021 | 13 replies
This space has a ton of upside potential.
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19 November 2021 | 2 replies
Mixed use Commercial property small mini storage 15 spaces with two retail space
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19 November 2021 | 0 replies
I should have made it a couple feet wider so the walk in closet didn't impede on the space so much and make it look like an awkward layout.
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19 November 2021 | 1 reply
so I've been hearing people saying that if you buy a commercial property 30% off market value then you might be able to get 100% financing since the lender will lend 70% of the value of the property and value is based on the NOI in the commercial space.