For not being a CRE broker you touch on a great amount of specifics that CRE brokers don't go over on their vids. There are a great number of other details, and I believe in placing caps even on MG leases, but this commercial broker gives you a thumbs up. Cheers from Chicago.
Hey thanks Manny! I'm certainly not a licensed professional. Just a guy try to help people based on my experience :) Thanks for your rubber stamp of approval...I have a surprisingly decent amount of haters. 😀
Great video bro! this really helped a lot. Im currently typing an email to negotiate our lease & I wish i could ask you how i should start this email. I know what we are looking for but maybe a video on how to actually word/present your negotiation. A lot of the verbage is new to me so even tho i know what i want, if they call me i might acidentally stumble on my word or freeze up. Just my struggle but maybe more can relate. Great video
Thanks for this much needed video. I am in the process of looking for an event space. I appreciate you for sharing. God bless you as you continue to build your businesses. 😀
Currently looking at my first ever possible commercial lease for child care business. Helpful video, especially the emphasis on capping the increases and on working with a lawyer. What legal subscription service would you recommend, and would you trust that for the child care industry?
Great pointers given Tariq. Good video! Thumbs up. I am a fair landlord. I don't hate caps but also not a fan. A hybrid floor/ceiling may be a better option.
I learned a lot from this video. I just submitted a lease application but I’m afraid they are going to take advantage of me because I am new to this industry. It’s for a tire shop. I saw a space online and the broker showed it to me. He said there are 2 broker fees.That does not sound right to me. He wouldn’t tell me who the landlord is. If he is working for the landlord why should i pay the fees?
I have a slight similar question. I contacted a site for lease online, and a broker emailed me back( vague ) info regarding the space. Would that broker be the one I would sign with or would I need to find my own . They asked for an offer letter, but it left me clueless on what to do?
Very useful information. Currently talking with a leasing agent, and wanted to know as a first time business owner do you need to have already formed an LLC before signing on a retail space? Or do you do that part after? I know when you file papers for the LLC it asks for an address which is causing some confusion.
I have a service based business and moving out of my first starter unit (full service lease) and I'm trying to find another one but bigger and it's so much more difficult. Any advice of how move from 1st place to 2nd and with switching lease types. I feel like switching to an NNN lease is going to be biting off more than I can chew.
I don't really know enough about your situation, business, finances, etc to provide any advice on that. What I can say is that having a high fixed cost on a lease is hard to get out of, so make the decision wisely.
Good information. I want to negotiate a lease on my own. The lease is 3800 per month. I am not using an agent. How many months do you think that would equate to for me? I am thinking 3 or maybe 4 months of free rent. What do you think?
Depends on the lease term. They typically get 3-5% on the total value of the lease. So a 5 year term is 228k in rent, which is about $6,840 to $11,400.
Hi Tariq- thanks for the info. What % cap is good for future increases? I’m trying to get a space like your smaller office and trying to see what caps look like
I'm going to be opening a salon and spa next year, in a mall in an empty salon. I didn't like the profit percentage they want and taxes. How do I get out of that.
Salam sir, hope you are doing well, sir I am looking for a restaurant in Texas but I don't live in USA but I have legal permission for doing a business. How can I find a good restaurant in a prominent location. Do you know any website or Facebook page where restaurant owners are selling there properties. I am interested to take lease.
Biz buy sell is a great resource to find existing businesses for sale. I also help my 1 on 1 clients find businesses, and guide them step by step through the process. Reach out to me if you want my help.
@@TariqJohnson A business owner should hire a real estate attorney who specializes in lease negotiation. If you want the best protection and to transact at the highest level, there is no substitute.
I subscribe to his channel but, I didn't like that he is advertising the legal website. If you are helping your subscribers, you don't persuade them to use the link. Just hire an attorney for all legal matters and period.
I guess I don’t understand what you don’t like about it? It’s a valuable service that I believe in and have personally owned the product for over 10 years myself, and it’s helped me a lot. That’s how business works- share services that can help people and get paid for doing so. Do you know how many hours it took me to plan, script, record, and edit this video? More than you would guess.
Where are you in the lease process? What tips/advice do you have for everyone?
Can you do a video on how much you can get paid from a lease if you bring in the business for lease or ownership
For not being a CRE broker you touch on a great amount of specifics that CRE brokers don't go over on their vids. There are a great number of other details, and I believe in placing caps even on MG leases, but this commercial broker gives you a thumbs up. Cheers from Chicago.
Hey thanks Manny! I'm certainly not a licensed professional. Just a guy try to help people based on my experience :) Thanks for your rubber stamp of approval...I have a surprisingly decent amount of haters. 😀
MG Leases? MG, is standing for what?
You mention a legal subscription service in your video, but I don’t see the link? Would you mind providing that link? Thank you!
Great video bro! this really helped a lot. Im currently typing an email to negotiate our lease & I wish i could ask you how i should start this email. I know what we are looking for but maybe a video on how to actually word/present your negotiation. A lot of the verbage is new to me so even tho i know what i want, if they call me i might acidentally stumble on my word or freeze up. Just my struggle but maybe more can relate. Great video
Thanks for this much needed video. I am in the process of looking for an event space. I appreciate you for sharing. God bless you as you continue to build your businesses. 😀
Wow, thank you for your kinds words and likewise!
Great experience and perspective! Gives me more confidence and eases any nerves. Thank you for you knowledge and help!
My pleasure.
Appreciated ! I'm actively looking for commercial space and will be signing a lease shortly.
Best of luck!
Great advices. On point with everything. Thank you for your generosity.
Thanks for watching!
Very very helpful. Thoughtful and practical guidance. Thank you for putting this together.
You're very welcome!
Helps a ton. Best I’ve seen so far. Thank gou
Awesome! My pleasure
Currently looking at my first ever possible commercial lease for child care business. Helpful video, especially the emphasis on capping the increases and on working with a lawyer. What legal subscription service would you recommend, and would you trust that for the child care industry?
Hi Tariq, I have been watching your videos. Very informative. Thank you very much for the details and sharing your process.
My pleasure! Thanks for watching.
Very helpful Tariq. I really appreciate you for providing this information. Thank you.
My pleasure! Thanks for watching.
I’ll use all the advice if possible on my new business
Awesome!
Great video! Very helpful as I'm in the process of opening a very similar franchise.
Glad it was helpful!
Great Content!!! Thank You. Where is the link for the legal advice website that can be paid monthly? I don't see it on the drop down list.
Great pointers given Tariq. Good video! Thumbs up. I am a fair landlord. I don't hate caps but also not a fan. A hybrid floor/ceiling may be a better option.
Thanks and glad you are one of the good ones!
Thank you so much for all the information.. thanks
My pleasure 🙂
Great video! Right on time!!!
Glad it was helpful!
Love this content! Invaluable!
Awesome!
Very informative and helpful. Thank you!
Thank you for the advice. I'll be looking for a retail space for my soap company by the end of this year
Awesome, good luck!
Great video. Thank you for sharing the advice.
Glad it was helpful!
I learned a lot from this video. I just submitted a lease application but I’m afraid they are going to take advantage of me because I am new to this industry. It’s for a tire shop. I saw a space online and the broker showed it to me. He said there are 2 broker fees.That does not sound right to me. He wouldn’t tell me who the landlord is. If he is working for the landlord why should i pay the fees?
Sounds weird. I always recommend hiring a commercial real estate attorney.
I have a slight similar question. I contacted a site for lease online, and a broker emailed me back( vague ) info regarding the space. Would that broker be the one I would sign with or would I need to find my own . They asked for an offer letter, but it left me clueless on what to do?
This is a valuable video! Thank you. I would like your book to help me start my business. I appreciate it in advance.
Glad it was helpful! You can go to franchiseempire.com to book a 15-minute intro call. 😃
Very useful information. Currently talking with a leasing agent, and wanted to know as a first time business owner do you need to have already formed an LLC before signing on a retail space? Or do you do that part after? I know when you file papers for the LLC it asks for an address which is causing some confusion.
Just put your home as your address, and change the address to the LLC later.
Typically you would want the lease to be assigned to your entity.
Very informative!!
😀
Thanks for the video. I wish it was clearer the view points are winded and not detailed enough
Noted, thanks.
tips start at 4:03
👍🏾
Thank you lol
Is it best to do a 3% cap on the rent increase or Renewal based on CPI? Also what cap would you suggest on CAM
The way inflation looks these days, I’d say 3%. CAP on CAM depends. Hire a real estate attorney- they can help with looking at your specific lease.
I have a service based business and moving out of my first starter unit (full service lease) and I'm trying to find another one but bigger and it's so much more difficult. Any advice of how move from 1st place to 2nd and with switching lease types.
I feel like switching to an NNN lease is going to be biting off more than I can chew.
I don't really know enough about your situation, business, finances, etc to provide any advice on that.
What I can say is that having a high fixed cost on a lease is hard to get out of, so make the decision wisely.
Good information. I want to negotiate a lease on my own. The lease is 3800 per month. I am not using an agent. How many months do you think that would equate to for me? I am thinking 3 or maybe 4 months of free rent. What do you think?
Depends on the lease term. They typically get 3-5% on the total value of the lease.
So a 5 year term is 228k in rent, which is about $6,840 to $11,400.
You look Ethiopian brother. Love your video and helpful ps
Your 3 reasons for watching sounds just like Patrick Bet-David’s lol
Haha - that’s one of the greatest compliments you could say to me 🙂. Love PBD
Do you have any videos with recommendation about opening a smoothie business?
I used to own smoothie franchises. Peep my channel , you'll land on a bunch of me talking about it.
Nice job
How much do landlord normally pay brokers ? Just to have a general idea when bringing this up.
3% of total lease value
Hi Tariq- thanks for the info. What % cap is good for future increases? I’m trying to get a space like your smaller office and trying to see what caps look like
Future increases on rent or on CAM costs? Overall if it's a full service lease- 3% is pretty standard in my experience.
Where's the link for the $49/mo attorney access??
Hi Randy! Here's the link johnsont58.wearelegalshield.com/
I said I was going to use LegalShield. Thanks!
Thanks Tariq for the information! I don’t see the subscription legal team link. Could you tell me the name of the company.
johnsont58.wearelegalshield.com/
@@TariqJohnson Thanks!
I'm going to be opening a salon and spa next year, in a mall in an empty salon. I didn't like the profit percentage they want and taxes. How do I get out of that.
Talk to the landlord and worse case a real estate attorney.
So what was the $45/month legal company called? I don't se eit in the description
Hi Debbie, johnsont58.wearelegalshield.com/
I knew it
Salam sir, hope you are doing well, sir I am looking for a restaurant in Texas but I don't live in USA but I have legal permission for doing a business. How can I find a good restaurant in a prominent location. Do you know any website or Facebook page where restaurant owners are selling there properties. I am interested to take lease.
Biz buy sell is a great resource to find existing businesses for sale. I also help my 1 on 1 clients find businesses, and guide them step by step through the process. Reach out to me if you want my help.
@@TariqJohnson A business owner should hire a real estate attorney who specializes in lease negotiation. If you want the best protection and to transact at the highest level, there is no substitute.
In other words, if you can’t afford a lawyer, you can’t afford a lease.
Well said!
I subscribe to his channel but, I didn't like that he is advertising the legal website. If you are helping your subscribers, you don't persuade them to use the link. Just hire an attorney for all legal matters and period.
I guess I don’t understand what you don’t like about it? It’s a valuable service that I believe in and have personally owned the product for over 10 years myself, and it’s helped me a lot. That’s how business works- share services that can help people and get paid for doing so.
Do you know how many hours it took me to plan, script, record, and edit this video? More than you would guess.
This is so unrealistic lol who is your target audience?
What is unrealistic? Did you watch the video?
This individual took a 10 minute video and turned it into 30 minutes by failing to provide accurate and concise information
I'm out here trying to help people man, if you've got nothing nice to say- keep it to yourself.