All Forum Posts by: Mark Bookhagen

Each bank has their own qualifications since this will be a commercial loan. I would check with a local/regional bank.

I would give him a timeline. "I'll honor the $400 discount for x months, but then the rent goes back to the amount in the lease." Legally, you can charge $2,200 right away if that's what is in the lease. (This is not legal advice.)

Loopnet/Co-star is where the big money investors look.

Only include real expenses that you will incur. If tenant is going to pay electric and gas, you don't have to include them. If you are going to pay water and refuse removal, include those.

I wouldn't go to zero percent, but you can definitely reduce by a significant amount - especially cap ex.

Pay a bunch of money to loopnet for their service (not worth it for small scale).

I hope you have all your receipts for when you have to sue the city.

Buy a duplex and live in one of the units; it is then owner occupied.

Yes.... that $100k counts toward your equity.

Your friend's credit score is going to make your interest rate skyrocket if you do a residential loan (if you can get it at all. You may want to compare it to a commercial loan from a regional bank.