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Bharath Raj
  • Investor
  • Houston, TX
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74
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Bought my first medical office building

Bharath Raj
  • Investor
  • Houston, TX
Posted May 23 2017, 20:04

I bought my first medical office bldg in Houston. It was listed for $750000, but I was able to acquire it for $600000. It's 5100 sq ft. There is one tenant who occupies ~1500 sq ft. I get a rent of ~$19/sq ft (NNN lease). I intend to use ~1800 sq ft for my own office, and lease out the remaining. Do I need to notify my acquired tenant regarding the ownership change? Do I need to do a new lease? Do I use a attorney? Any input would be greatly appreciated.

Thanks

Raj

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