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Old 8th May 2008, 12:55 PM   #164 (permalink)
hiii98
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Join Date: May 2008
Location: At a salon near you.
Posts: 448
Default Re: going to buy a distressed salon

Quote:
Interesting that now the rent went from $650 to $1200/month. And a 10 year lease?????? Do you have to personally guarantee that? If so, you are stuck paying that even if you close. Some landlords dont allow you off the lease even if you sell the space to soemone else. They just add their name so you BOTH are liable. NOT good.
from what i understand now he changed the lease amount for the 3rd time to 1,000 a month (it was 650, then 950, now 1,000)whatever the case i will be negotating the lease amount in my offer. The 1,200 and 10 year lease was from the previous owner 2 years ago. YES he is asking for a personal guarantee... i dont like those...
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