All Forum Posts by: Robert Steele

Steve Babiak summed it up very nicely I think.

I would just like to emphasize that I feel it is important to let every applicant know what is going on and refund application deposits whenever possible. Karma?

Here's a trick that works every time.

When the tenant opens their mouth and starts giving you their excuse as to why the rent is late just overlap it in your head with the Charlie Brown "adults talking" voice. You know the one "Wah wah wah wah".

Then you can simply ignore everything they have said and tell them they have until the end of the week to pay up or get out.

I read on our state realtor association website that you are supposed to disclose to all parties that you are doing a 1031 exchange and include wording in the contract to the effect "seller understands that buyer is doing a 1031 exchange and will co-operate in every respect. seller will not incur any additional costs by co-operating".

But I have heard from gurus that you should stay quiet about doing a 1031 because it lets the seller know that you are on a time limit then and they can use that in negotiations to get concessions out of you.

I'm not sure if this applies to the other side of the transaction too: selling the first house in the exchange.

$3,500 to rent a house in my neighborhood versus $2,200 a month for the one I bought in 2011. I think I'll stick to owning. Plus I am up about $100K in equity since I bought it right.

Paypal. *shudder*. Those guys have screwed me in the past by reversing a payment for an item I shipped internationally. No review. No appeal.

When I have to use them I have a separate bank account attached to Paypal and sweep the funds out immediately.

Bottom line is though; only ever accept cash, cashiers check or money orders for move in rent and security deposit.

You must be the kind of guy that goes "all in" on every hand of poker.

Karen Margrave I started looking at Retail but Joel piqued my interest in Pharmacies with his mention of getting in for little money down. Mainly I am just interested in single tenant NNN with corporate guarantees.

When I started canvasing the universe I decided that if it was going to be Office space the only ones I would entertain would be medical for all the reasons you have mentioned.

Thanks for the encouragement. It's taken a decade to get over my fear of jumping from residential to commercial. Although I am still a bit nervous but not enough to hold me back.

Joel Owens yes that does help! And I have hundreds of thousands to play (doing a 1031 exchange from a residential property plus cash).

So what is the best way to pursue a pharmacy. Just look for one that comes up for sale? Contact a CTL? Contact corporate headquarters?

Thanks again!

Joel Owens I'm sorry what does CTL stand for?

When you say brand new pharmacies do you mean that I would have to build one? Or do Walgreens et. al. do sale lease backs? I'm confused.

I'm sorry what does CTL stand for?

When you say brand new pharmacies do you mean that I would have to build one? Or do Walgreens et. al. do sale lease backs? I'm confused.