All Forum Posts by: Matthew Loving

Well, I'm looking for the highest returns. Don't have any STR experience but I would assume being centrally located is best? Short North, Italian village, Victorian village, German village? I would like to avoid any HOA situation. So single family or stand alone multi family.

Hi, I have a sale pending for a 1031 exchange with proceeds of 1million+ in cash. Expected to close by the End of April 2022. I am looking for a local Agent that has extensive experience in owning an managing their own short term rentals. Preferably a "super host". We have owned of number of long term rentals (residential, commercial, NNN) but have zero experience with STR properties. We are looking for and agent that can help with locating properties to purchase and offer real insight into the STR market with expectations for specific properties.

Please let me know if you are an Agent that matches this description or have a reference for someone in the Columbus area who does. I would also greatly appreciate any knowledge from BP members that might be helpful in this endeavor.

Thanks!

Matthew   

Some great info here. Thanks. The language in the leases varies but they will be in default if rent is not paid in full. I will try to give an update as to what we decide to do and how things turn out. Thanks again for the great responses. 

While businesses are closed for social distancing some National NNN tenants have stopped paying rent or are only paying partial rent. Do you have national NNN tenants that are currently not paying rent? If so, how are you handling it?

Personally, I have received letters of notice from 2 national NNN tenants regarding rent. One is a popular national fast casual dine-in restaurant that has notified us that they will not be making rent payments and the other is a popular national quick service restaurant brand that has sent notice that they will only be paying 1/2 rent. Both are well recognized brands run by franchisees that have very large portfolios with many locations. We have not yet responded and are currently discussing our options. Surprisingly, our smaller locally owned commercial renters (hairstylists, re-sellers, boutique restaurants/bars, ..) have found creative ways to generate income and pay their rent. Although they have been able to pay rent so far, I know that it is an incredible strain to do so and that eventually it will become impossible for them to continue to make those payments.

For those of you that own commercial investment properties, what has your experience been like during this national crisis? 

Sounds like a good plan. Would you occupy any of the commercial with your own business, or just lease it? We have a QSR rental that sits on a busy street and occupies over an acre. Often consider the possibilities of redeveloping the site to hold multiple tenants if the current renter ever leaves. Never considered mixed use residential/commercial but maybe we should.  

Assuming everything else in your life is exactly as it is now, what you your next move be if you were currently sitting on a large pile of cash?