All Forum Posts by: Ronald Rohde

 In my experience, very few probate attorneys will give out client information or even respond to such marketing.

Yes, an LLC would probably be the best way to structure this venture. You can transfer, will it have a mortgage?

You should consider avoiding 50-50 as it can lead to deadlock without an easy mechanism for disputes. How will you handle cash calls? Profit sharing? Who makes the decision to withdraw if construction never begins?

I usually recommend my clients use me for the first one, explain the process, help make decisions. if they want to file subsequent LLCs themselves, they are free to do so. Typically, they end up hiring me for hourly Operating Agreement drafting only.

I assume you're in Frisco or Collin county?

Lots of competition for Dr. space. If you have connections to tenants, you can make this work all day.

That said, TI buildout (as mentioned) is pricey and holding costs for a vacant unit can be high. deep reserves are needed for vacant commercial.

A commercial broker in your area would really help guide you on your first deal.

Roughly it looks like this property has a big risk of losing all tenants. Are you prepared to re-negotiate all those leases?

Are you purchasing in an LLC? Be sure to have a good tenant lease agreement, personal guaranty if necessary (students, etc.)

 Thats not really accurate if you are buying multi unit. Buy value add, partner with rehabber, refinance into a commercial loan base on gain.

Yep, get permission from the LL to contact Tenants and see what they're interested in renewing at. Sign an LOI and plan to execute after closing.

 I don't think anyone is implying that. It is a useful tool where land is available and Buyers can evaluate risk+new construction may be less than purchasing at an extremely high income valuation.

You're not going to finance much maybe 50% LTV...and only to someone that would want the lot.