All Forum Posts by: Marshall Smith

I rent a luxury apartment in Jackson, MS, but recently moved out ( I'll be paying rent until the end of my lease on December 27 2022) due to no access to clean or running water.  The entire city is affected by our government officials inability to manage basic infrastructure. What are my legal rights as a renter? Can I legally withhold rent, or a portion of rent?  What should I do if my apartment is uninhabitable under these conditions? 

Current Conditions: Cannot flush a toilet, cannot shower, cannot safely use any water even if boiled because it is dark brown. This place is unsanitary until the city resolves the issues. What can I do?

Needing help on best practices to vet commercial tenants and best leases to use. ( NN or NNN and why)

Info: 1 6000 sq/ft. building. Currently 3 commercial spaces for rent, 1 apartment. (will remodel 2 other commercial spaces, and build 2 new apartments. Totaling to 8000 sq/ft. 

Commercial spaces are approximately 1000 sq ft each, downtown, great location, high visibility, lots of shopping, barbers, salons, attorneys, etc in the area. (an attractive location for any small business) 

Currently 2 salons occupy 2 of 3 commercial spaces. Both Month to Month. But are paying well below market rent. 600 each. No taxes, no insurance, no building fees, current landlord pays all building repairs. 

I have a mixed use Commercial building and am needing advice on Vetting and Selecting Commercial Tenants. Building is in a downtown area that is growing/developing/lively. Across the street from a large Church. NO entertainment business allowed (i.e. ax throwing, theater, bowling, music or alcohol) 

Desired Businesses: Pharmacies, Medical/ Retail Sales, Insurance, Engineering, Salon/Spa, Government Agencies, Tax/Accounting Firms, Attorney, etc. 

Obvious Answers: Chamber of Commerce, Cold Calling/ Networking with Locals. 

What pro tips can you suggest? Types of leases, financial requirements from tenants, duration of lease, business mix that compliment one another. d

What are my financing options for an Investment Property needing Repairs??  What lenders, and types of loans, should I be looking for?

Needing solutions/ advice on how to purchase a 2 unit home needing around 50K in repairs. I'll live in one unit. One unit is already rented covering the mortgage, or 90% of it. 

Cost 150K, Repairs 50K-60K, will bring $3300 when rented, I'll live there while renovating, 3,5% down, i have excellent credit. 

What I need: Available loan options to make this happen. Or other options.