DEAL TODAY
I am going to sign this assignment of contract, the seller is a HomeVestors franchise. as my first one that involves someone other than me and the seller, do you reccommend getting a RE Attorney? Any leads on one here, in Miami, FL?
Are you going to live in the property? If so, fine.
Do you expect to further wholesale the property down the line? Or rent? Or rehab and sell? If so, check your numbers. Pros like HomeVestors have additional franchise fees that individual investors do not... and seldom leave much on the table for the next investor.
Verify everything, and good luck!
[addsig]
Government agencies do enter into long term leases.
Think of the Post Office in every town. These are done on long term leases. Lending would be very favorable for Government occupied buildings. The terms are tied directly to the leases (20 yr lease = 20 yr loan) These leases would be considered investment grade. What agency are you dealing with that will not commit to a long term lease?
Type of lease you should ask for is NNN, this will be the strongest for resale.
If you secure a NNN lease with a 20 yr term I have many investors that would be interested if the cap rate is what you say, so you already have a market right here on TCI.
Good Luck,
Robert
[addsig]
Unfortunatley, this is a State agency, they are not allowed by law to enter into any long term commitments of this nature.