Page 230 - Trump University Commercial Real Estate 101

TRUMP UNIVERSITY COMMERCIAL REAL ESTATE 101

complete, but write out that check the instant the job is done. You can
be sure the contractor is already chasing many other people for money.
When you pay immediately, you will just as immediately become one
of his favorite customers. He ’ ll even put off other jobs so he can get
your job done.

Property Inspector

Commercial property inspectors cover large territories. Though
most areas have one or two good inspectors, it may be necessary to
fly your favorite inspector to different parts of the country to go

through your properties.
Their job is to review the entire property very methodically and
tell you if there is anything wrong. When they find issues, you want

estimates of the cost to fix them, even though you will also ask your

contractor for estimates.
The inspector will also indicate if the property meets the Ameri-
cans with Disabilities Act and if the property is properly zoned.
You will receive a comprehensive inspection report. It will not only
form the basis of any negotiations on major issues, but will help form
the basis for budgeting expenses for several years to come.

Maintenance Specialist

Soon after I began to buy commercial properties, I found that one of the
biggest items to deviate from budget was repairs and maintenance. The
reason it was so high is because management companies like to subcontract
many repairs. They may have a relationship with the contracting
company — a relationship that benefits both of them, but not you.

We require that all regular maintenance be done in - house. Some-
times that means the management company must hire another mainte-
nance person to keep up with repairs. I ’ m okay with that, because
the new maintenance salary should cost less than what would be paid
to subcontractors.

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