All Forum Posts by: Cory St. Esprit

I own 25 Subway franchises. One of the 5 unit strip malls that we rent in is for sale. I met with the landlord today to discuss. It's a NNN lease and I know the rents for all the units. 1 vacant as of recent but I expect it filled soon. I also know the property taxes, insurance, and CAM amounts since it's NNN. 3 long term tenants (including my Subway), 1 shorter term (2 years), and 1 empty unit but it'll prob be leased soon: Pizza shop with all FF&E.

Can someone point me towards a good tool to analyze the CAP rate and a good starting offer?

0 Votes

Pittsburgh, Pennsylvania

Look into the FHA 3 unit rule. Best bet would be to put your available cash into graduating debt free

0 Votes

Lubbock, Texas

Quote from @Trevor Land:

Hi @Reid H McKee and @Andrew Wright,

Sorry this is quite a bit late. I started off my investment journey in land and signed up under RETIPSTER, I thought it was a good program and I went through all the tutorials to get started in about a weeks time.

I haven't tried Land Academy, but I have heard some good things from other land investors. I hope that helps, feel free to shoot me a message if you have any questions about land.

2 years in - how is that journey going? I'm looking at the various courses. Been a lurker and listener for about 6 months. Just haven't pulled the trigger yet on any one course.

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Hi Mehraan - is there a mailing list for this ongoing so I can know when the next one is? I'm in Beaver County.

3 Votes

Pittsburgh, Pennsylvania

Quote from @Chris Seveney:

@Cory St. Esprit

I am curious if you don’t know what a preforeclosure is or how to find them - how are you calling people?

Btw for those terms - try googling them.

I haven't started yet. I'm just here to learn for now.

0 Votes

Denver, Colorado

Quote from @Alex Deacon:

@John J Murray we purchased hundred of properties at auction here in the Pittsburgh market. I assume its the same in most states. We have purchased quite a few before the auction. You can stop the sale if you know how to do it properly. You need to get the seller on board and have an attorney help you through the first one. The biggest challenges are 1. Is there enough meat on the bone. The sellers may owe more than its worth. 2. Finding the seller and explaining the process to them and how you can stop the sale and help them.

Seek out a good local experienced real estate attorney who knows the sheriffs sale process.

@Alex Deacon may I reach out to you? We're starting to grow out portfolio in Beaver, Butler, and Mercer Counties. Would love to get your insight. Thanks!

0 Votes

Springfield, Massachusetts

Quote from @Kerry Noble Jr:

buying preforeclosure and at the auction are different. You can get a preforeclosure at the NOD/NOS process. Check your local newspaper for the NOD/NOS pre foreclosures

What's the NOD/NOS?

0 Votes

Denver, Colorado

Quote from @Shyam Sah:

Hello,

I am renting a detached garage to a tenant for $100 a month. Can someone share their garage rental leases? I am not sure what terms to include and what not to include.
I appreciate your help in advance.

Thank you.

Shyam

I’ll be in this boat soon on the other side of the state. How did you advertise it?

0 Votes

Philadelphia, Pennsylvania

I recently purchased a multi-use building. It has 3 apartments and a commercial space on the bottom. I do plan on moving my office into the back of the commercial space (we own real estate and restaurant franchises), however for the rest of the commercial space (used to be a hair salon), I was thinking of maybe a co-working space. Has anyone done this? We're in a small Class-3 city in western Pennsylvania. There aren't currently any co-working spaces in the area, but there is a university partnership moving in for an "Innovation Hub" that I think may have similar offerings and I'm not sure their cost. I just want to provide some space for buddy entrepreneurs to have a nice desk, access to printers/scanners, etc.

Thoughts?

0 Votes

Pittsburgh, Pennsylvania

Quote from @Ray Hage:

I find odd that you decided to increase rent by 25 per month for 12 months. It would have been better to just increase it all once with whatever the legal days of notice. Since they are less than ideal tenants, you kind of win either way but it's better if they leave and start fresh with good tenants of your choosing.

First time on LTR! Live and learn. I was trying to be nice and give them some notice.

1 Vote

Pittsburgh, Pennsylvania

All Forum Posts by: Cory St. Esprit

Cory St. Esprit has started 20 posts and replied 94 times.

Post: Need help analyzing a CAP rate for a commercial property

Post: College Student Looking for Loan Advice for a Multi-Family

Post: Land Academy - Land investing

Post: REI on TAP - Pittsburgh Real Estate Meetup

Post: Buying pre and foreclosure property

Post: Can you buy a property before a foreclosure auction in Massachusetts?

Post: Buying pre and foreclosure property

Post: Garage Rental Lease

Post: CoWorking Space in Small Western PA City

Post: Raising Rent Issue