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Commercial Real Estate Investment/Questions Answered by Expert Phil Nicols
| Subject | Date Asked |
| potholes in parking lots | 11/30/2011 |
| Q: I'm wondering who is responsible for a humongous pothole at the entrance way of a parking lot inside ... A: wow. its a good question and after all the years Ive answered questions here, yours is the first ... | |
| Breaking a lease | 11/21/2011 |
| Q: I am currently a college student in Delaware and would like to move into a new apartment, the ... A: Guillermo the "short answer" is NO. She signed a lease, she must honour it. in reality though, ... | |
| how do I sell my restaurant? | 1/19/2011 |
| Q: Phil I actually have 2 questions: I looked up "Phil Nicols" on realtor.ca and there is no-one in ... A: Sally the first part is easy: Phil Nicols Broker of Record Stockwell Realty Corporation ... | |
| Investment property | 7/7/2010 |
| Q: I purchased a property in Baltimore to be used as a rental through an LLC. The bank required me as ... A: YES! put yourself in the bank's shoes. If you were lending money to someone and they said they ... | |
| consulting fees | 6/23/2010 |
| Q: Can you please confirm if Consulting fee invoices paid for obtaining a Certificate of Occupancy for ... A: Sheila good question. Commercial property leases are not governed by laws such as Landlord & ... | |
| commercial land investment | 6/18/2010 |
| Q: I want to purchase this piece of property to build a home.(where we would live) However, the ... A: -- check with your city, local zoning bylaws, does it allow for a single family home? maybe zoning ... | |
| Land takeover | 4/28/2010 |
| Q: My father owns land in upstate New York. A while ago my father co-signed for my brother for credit ... A: ok this is not a good situation to be in. First a disclaimer... Im based in Ontario Canada. Laws ... | |
| Bowling Alley | 3/15/2010 |
| Q: What should you look out for when looking to purcheae a bowling alley ? A: Sorry, I don't know much about bowling itself. I had a client buy a bowling alley, in order to tear ... | |
| providing invoices for cams | 2/1/2010 |
| Q: Provided reconcilation of CAMs to tenant that showed a 6 cents a foot in monthly cost increase. It ... A: Jefe final thoughts -- yes: 1) I would have to read the actual language buy it sounds like you are ... | |
| providing invoices for cams | 1/30/2010 |
| Q: Provided reconcilation of CAMs to tenant that showed a 6 cents a foot in monthly cost increase. It ... A: Jefe Welcome to being a landlord. First, you have to refer to the lease. What does it say in ... | |
| cam charges | 10/4/2009 |
| Q: My commercial lease expired on January 2009, and we did not renew our lease but stayed month-month ... A: YES! Nobody is holding a gun to your head. You could have left but it was your decision to stay. ... | |
| evicted | 9/10/2009 |
| Q: I leased a space for a hand car wash and in the past few months we had nothing but rain. Due to the ... A: Suad So, it rained and you have been restrained... In your lease, there should be a section for ... | |
| Who's responsible? | 7/4/2009 |
| Q: My husband and I have a commercial rental here in Fl. It is a standalone building. We rented it out ... A: first my disclaimers: Im based in Toronto Canada and our laws are different from yours -- US laws ... | |
| Tenant Landlord Lease | 6/23/2009 |
| Q: We just started a 5 year lease with no personal guaranty on May 1st and we already want out. We ... A: Jon There are a lot of unanswered questions in your story. first, I assume you are selling cars or ... | |
| lease termination on sale of property | 5/23/2009 |
| Q: I am in the process of selling a commercial property.The buyer is one of the two tenants.The other ... A: Jay few caveats first; Laws very from province to province -- I see you are in Canada and I'm only ... | |
| change of rent request | 2/22/2009 |
| Q: After moving into our rental we discovered that to heat the entire house cost a fortune. The house ... A: Alisa this is not a commercial real estate question. its more like Residential, Landlord / Tenant ... | |
| Real Estate Options and loan | 2/19/2009 |
| Q: If I buy real estate call options, is it possible to finance the purchase of the options with a loan ... A: ok Tony, theres good news and bad news... the good news is that there has not been a better time to ... | |
| Things that can be claimed | 2/18/2009 |
| Q: Can you provide me with what is considered legal out of pocket expenses due to damage by plumbing ... A: Greg, I dont see a question here. you want to sue the plumbers.. As I said, if you spend the money ... | |
| Things that can be claimed | 2/18/2009 |
| Q: Can you provide me with what is considered legal out of pocket expenses due to damage by plumbing ... A: Greg -- this is an accounting question -- and one that will pertain to your state or province ... | |
| Commercial Mall | 2/6/2009 |
| Q: I am overall quite familiar with investment properties as I have owned, investigated and do still ... A: Michael Im going to be brutally honest and its not what you are going to want to hear but someone ... | |
| Bad and lord | 12/19/2008 |
| Q: Would allowing my building to fall into disrepair be grounds for breaking my lease? ANSWER: Hi ... A: A YEAR?? Sounds like a nightmare! ok, first thing - make sure you and everyone is SAFE FIRST! ... | |
| Bad and lord | 12/18/2008 |
| Q: Would allowing my building to fall into disrepair be grounds for breaking my lease? A: If I was your lawyer (and I'm not, I'm a real estate broker) I would argue that the two are separate ... | |
| GA Commercial Lease Question | 12/13/2008 |
| Q: If I have a commercial lease with an LLC entity in GA, and that "entity" stops paying rent or pays ... A: I'm based in Toronto Canada... Each US state has its own set of laws. to complicate things more, ... | |
| Purchasing a Home in Business Name | 11/23/2008 |
| Q: How can I buy a home in my business name? I have a software consulting company, personally I have ... A: simply replace your name with the business name. there are pros and cons however I'm based near ... | |
| Church leasing to a for-profit daycare | 11/20/2008 |
| Q: Phil, I am a member of a church in NJ that has been leasing a portion of our space to a for-profit ... A: whoa! that's a good one!?? first, Im based near Toronto Canada so, we have different laws, Prime ... | |
| breaking lease | 10/17/2008 |
| Q: I'm on the board of a nonprofit agency that depends solely on donations. We have an office in ... A: Don Of course there is no black-and-white answer. It depends on a lot of things; * Who is your ... | |
| 2 commercial lease agreement questions | 8/8/2008 |
| Q: I own a small bakery in Georgia where I lease the building and have invested (stupidly) $50K towards ... A: Jill, this is very in depth question. First let me start with a few caveats; 1) I'm not a lawyer ... | |
| Land parcels | 7/8/2008 |
| Q: I need to know how to obtain information about land parcels as it relates to a business my company ... A: Kristen you need to go to the municipal offices where the property is located. ask for the "tax ... | |
| REI LLC Business license | 6/11/2008 |
| Q: Good day, Do I need a business license to own multi family properties via LLC? If yes do you know ... A: Jafo I don't know where you are calling from. I'm in Ontario Canada and here, there are no such ... | |
| large commercial deals- commison fee standards | 4/1/2008 |
| Q: I am a new commercial agent, under 2 years experience. I am doing well and have a few deals under my ... A: Lee if you have done a 30 million dollar deal in your first 2 years of real estate, you don't need ... | |
| commercial real estate | 3/6/2008 |
| Q: I was wondering if you can tell me where commercial loan officers usually get their leads from? I've ... A: I had an entire answer written out for you and then I realized that you're looking for the source of ... | |
| investment property purchase | 3/1/2008 |
| Q: I just negotiated a deal for a package of 3 separate medical office buildings for investment ... A: Anil congrats on your deal. Im in Ontario Canada and cannot give specific advise for Michigan. Im ... | |
| Registration | 2/5/2008 |
| Q: I am a Tenant in a commercial property in Calgary Alberta. I am in the middle of a 10 year lease and ... A: Steve its a great question and I feel yourt frusteration. You cant register it, but hten you cant ... | |
| deed stipulations | 11/14/2007 |
| Q: Hopefully you can offer me some additional insight. I am currently in the process of purchasing a ... A: YES! Its called a "Restrictive Covenant" Any property owner can register something like that on ... | |
| Tower Condo's investment | 10/27/2007 |
| Q: There are no experts for BC real estate, but if you can awnser my question thats great! if you cant ... A: Navi I would go for it because a) you are 19, you can't get hurt - or you have lots of time to ... | |
Commercial Real Estate Investment
Answers by Expert:
Phil Nicols
Top Expert on this page
Expertise
Legal issues which are specific from state to state.
Experience
Licensed Realtor since 1987, Broker Since 1991. Ontario Canada real estate -- Commercial, investment, leasing, business brokerage
Organizations
Stockwell Realty Corporation
Publications
www.StockwellRealty.com
Education/Credentials
Real Estate Council of Ontario, Registered under the real estate and business brokers act 2002
Awards and Honors
A few from past organizations I belong to. Now with my own company, it's hard for me to give myself awards.
Past/Present Clients
Dealt with both small as well as regional tenants, individual investors to syndications.
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