Updated 3 months ago on . Most recent reply
Newbie asking for advise
I was presented with a property to purchase. It's a mix of retail and office with cap rate of 10%.
this is the first time I deal with the agent that presented the property and I'm not sure if he is trying to help me or just trying to get the commission.
I sent a friend of mine to check the property as I was not able to go, my friend told me the agent didn't ask any questions and he felt the property was not that attractive as the parking lot was mostly empty and not much movement in and out of the property. In addition , the rent roll includes multiple 1 year contracts.
This is my first time purchasing a commercial property. Should I proceed with the property or find another one. Also, should I trust this agent? In other words, what should be my expectation from the agent?