Asking for a Master Lease

2 Replies

Hello! Today is my first day with Bigger Pockets and I am really excited to be here. My question is, is there a right or wrong way to ask a property owner if they would consider a master lease? What type of information do I include when asking for a master lease. 

Background: the property has been up for sale for a while; the owner is not local even though the property is.  

Thanks in advance for the input.

@DeVora McCoy

Your first job is to make an offer. The type of financing comes later.

You might want to try and understand their motivation first. Why are they selling? To cash out? Tired of managing the property from a distance?

Then open up with conversation starting with the main item - price.

If offering something other than list - Does $$$ sound good? Would you be willing to consider "X" with "X" terms...

Or, if the list price sounds fine, would you be willing to consider "X" with "X" terms...

And be ready to explain what "X" means to them and how it would work.

I am preparing to take hold of a property . The expenses are very high and I need to cut them. I am paying a landscaping company, have repair and maintenance on staff and paying a management company as well. Can I get a maintenance company to do everything?  The building is less than 3 years old so what else can I cut. This is my first time owning a commercial property.

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