Lawgitimate hosted by Mike & Rochelle Poulton with special guest, Charlotte Burr owner of AZ Insurance Team. This week’s episode “Owner Occupied” Commercial Real Estate in Arizona covered a lot of topics.
- Financial Fraud Schemes – don’t be the patsy, and if your spidey sense is tingling call a lawyer.
- What happens if there is no election? There will be an election, calm down.
- The AirBNB IPO – is it a good sign? TBD.
- It’s wildfire season, its hot, and AZ is breaking all the wrong records.
- Owner Occupied Commercial Real Estate
o Run the building like a business, talk to a lawyer about an LLC
o Commercial Appraisals are nothing like residential
o Don’t skimp on a Phase 1 Environmental
o Opening a building is expensive, everything costs a few thousand dollars
o Talk to an insurance professional, like Charlotte Burr, to make sure your assets are covered
o Commercial Financing, its complicated and you have no protections
o Rent Rolls establish market value
o Maintenance is on you, the owner
o To recap, if you are buying commercial real estate do your research.
Enjoy!
