All Forum Posts by: Bharath Raj

I was also interested in hiring a property management company. I am told that they charge ~5% in the Houston area. Does that sound right?

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

I am currently under contract to buying a medical office building. It was listed for $750, but we negotiated it down to $600. Since this was part of a larger medical building complex, and only a portion of it is being sold, I am currently getting the water line separated for my side. I called the insurance company that was insuring the complex previously, but they didn't sound very interested in a <$1M transaction. I would appreciate any good referrals within the Houston area. 

Thanks