All Forum Posts by: Matt Williams

I agree with your take on GR vs KZO employment. GR is just a much better employment market and better place for employers to find young talent.  I have done quite a bit of development in BC and City is great to work with but demographics are tough.

Keep good records of what you are doing to market the space.  If they stop paying and you have to sue, it will be helpful if you can demonstrate that you have been making good faith efforts to find a new tenant even though this should not be your responsibility.  If they left space in poor condition keep photos, etc.

@Trevor Miller lease restructure to NNN - yes i think you will find this headache is worth it long term. But yes you should carefully consider which tenants and when. On a similar project I decided I would only do as tenants turn over. Its not different enough to me unless you have a reason with a timeline.

On loan repayment to dad I would suggest agree on something small you feel you can make work, and then pay it off as fast as you can.  

Potential partner - Tough to comment much without knowing what skills and talents each of you bring to the table.  Do you have time in your week to perform whatever role current owner/manager is doing?

Sounds like a great opportunity for you. 

have you asked seller if they would carry a second?  private money for the equity?

I think the feedback above is right on the money particularly the math on scenarios & commissions etc by Mr Sullivan.  But if you are already talking to a broker why not see if you can work out some sort of flat fee to help you really dig in and assess the situation instead.  $10k might be a great deal for you and the broker.   

I have always heard/seen 5% of project cost as most common rule of thumb.

If you are negotiating 5-10 year leases, many tenants are looking for renewal options as well which could take you out 20+ years.  I am working on a couple of these right now and I agree there are some signs that at least make you think about high inflation.  It would not be that hard to stick with fixed rate of increase, but include the concept that if inflation/CPI were to exceed some higher amount (4%?  5%?) then a CPI adjustment would kick in.

https://www.biggerpockets.com/forums/32/topics/540...

Good discussion in above post.  i don't think there is a list that won't require some background work.  there are some services, but you end up with garbage and a general real estate submittal email.  

tough to give you much input here without a better understanding of your situation and goals.

Good thinking ahead.  I have been burned on bad HVAC (and roofs) several times.  Yes if the units are in bad shape try to negotiate something.  Seller likely already knows this is the case.