All Forum Posts by: Michael Upshur

@Colleen F. That is exactly what ended up happening.  the Gas company shut down the line from the street but did not request the tenants to have to leave.  We then were able to have repairs looked at without any further danger.

Yes, I have a contractor taking a look at the lines to see how extensive it is.  There is no gas smell, but they could change any day. 

Hello Forum,

I currently am renting out an SRO in NYC where a gas leak was found.  My question is how bad does the leak need to be for me to have to move the tenants out?  Also, the tenants are on a month to month so what provisions, if any, do I need to do for them under these circumstances?

@Justin Saunders, Unfortunately, Downtown Silver Spring is pretty maxed out.  I agree that you would be better looking further out.  Even something up Route 29 would give you a little more to see.

On a positive note, would love to hear about some of the good mentors and seminars to get valuable information from.

Hello Toby,

I have a property for sale in Brooklyn that sounds like meets your needs.

Pvt me if you would like additional information.

All the best,

Michael

Hello,

I am in the process of looking to sell off a property through a 1031 exchange and the Real Estate agent recommended that I move into a long term triple net lease property as an investment.

These leases are long term (15 to 20year) corporate contracts with known entities. Because this is a triple net lease, the occupant will be responsible for all operating costs including building improvements and repairs.

My questions are:

1) What is the downside or risk of doing triple net leases?

2) If it is corporate backed as opposed to the individual what advantage does that give me?

3) If this is a safe, nonproperty management option for Real Estate investment, why isn't everyone doing it?

Any advice, comments, etc. will be greatly appreciated.

All the best,

Michael

@Sean Walton I too recently upped the playback speed when I listen to Podcasts and it has made a tremendous difference. I can usually get through two a day this way, (one on my commute into work, one on the way)   

Tried 2x but for most Podcasts was too fast.

@Account Closed was wondering if Woodside still has potential. 

@William T Carey

Was wondering about the current and market rent differences.

How did you get your rental comps for that area?