Hi,
Has anyone here purchased an apartment building through a MLO (Master Lease Option)? I am looking to purchase an apartment building in NYC through a NYC and I’d like some help in structuring the deal. I also wanted to know if you were able to acquire the property without a deposit? That’s the type of situation I’m looking for at this time. Any help would be greatly appreciated, even a simple referral to someone that has done this type of deal before would help. What I’m not looking for is to buy a real estate course on this topic. I don’t have the money for that right now. That’s why I’m picking the brains of other investors that may already have this experience & are willing to chat.
Many many thanks! :biggrin
I had a document drafted by an attorney to accomplish this though the deal fell through that I was working on. Here’s the thread I posted including a link to a copy of the document that you are welcome to download and use: http://www.reiclub.com/forums/index.php/topic,27769
This was written by a CT attorney so it would be wise to have it looked over by an attorney in your area.
Hey Rich,
I don’t know if you got my other message or not, but thank you so much for that document. The timing is perfect and I’m about to open it now to read it and then email it to the seller so that his attorney can review it. Thank you so much for your willingness to help out and share this information.
Many thanks again and I hope you have a happy and safe holiday.
God bless,
Shirley
I would have YOUR attorney review it before passing it along. There might be something in there that is totally wacky for your part of the country and you don’t want the other attorney being the one to find it. I think everything in there is pretty standard but you never know, what might be a normal thing in CT is unusual or illegal in your area.