wow!

im feeling very vulnerable right now after reading this i dont know where to turn. i called up a realestate agent that has been nagging us to sell him our unit that we live in for almost a year now (b/c there in demand in our area) i wanted to ask him some advice about a property i am looking at buying. i also called up a solicitor and she said just run the other wat b/c your emotionally involved.

i am currently sub leasing a room off a women who is part owner of a shop but also is the tenent of the same shp. myself along with another 8 people pay her rent money so we can run our businesses from there.

the building is up for auction next week and i want to purchase it but i dont want her knowing that i bought it as i fear she will either kick me out, increase the rent i pay her, and also demand that i now fix all the mouldy walls/rooms, the garage door and motor that doesnt work. as part owner she has lived with an leftt these problems but now if i purchased it i can guarantee that she will make my life hell and demand i fix everything for her.

the property was meant to be sold without a lease but the mortgage company has just signed her up for a period of 4yrs along with 3 more with a CPI increase in rent.

What can i do? can i end her lease? would i dtill have to pay rent to her? can i increase the rent more than CPI, can i buy it without her knowing maybe use a company name???

can anybody help me?

Hi Chris,

wow i have read everything that you have written and am sooo confused its just not funny.
As my name indicates i am literally 'just starting' i found this website last week by fluke and was a little uneasy about joining b/c i thought well it says its free but i bet you its not theres no way any good advice is free on the net but to my surprise maybe i was wrong.

If the is any advice that you could give me (but in laymens terms) that would be great. The commercial property that i a m interested in is going to auction in just over 2 weeks which has put me under the pump! i have no idead about investing. This property i would love to use for my own business but the women in there now has just had a new 4yr x 2 lease drawn up. it is a morgagee auction and there the ones that made her get out or sign a new lease…..its very complicated and without getting into the nitty gritty if i buy it how much do i bid to? can i end her lease in future but before the 4yrs if i want to and as far as the rent goes how do i know if she is paying enough and cpould i as the new owner increase it at all???