MamlngEnvy Posted January 29, 2020 Report Share Posted January 29, 2020 About a year ago, a person with an empty building lent me 80k to build a restaurant in there. The plan basically was id pay him back as much as i could each month. Our agreement waS after paid off id sign a 5 year lease. I have paid about 40k, and he sold the building. I signed an estoppel that just mentioned a rent paymmemt and nothing else to the new landlord, with my 5 year lease starting now. The original investor/landlord came in wished me luck and said his goodbyes. The new landlord came in and gave me an address to pay rent and didn't mention anything about the 40k I still owed. Should the estoppel of mentioned the transfer of the 40k debt? My building is a small piece if a pretty big complex that waS sold in its entirety. I feel like I got let off the hook for a big chunk of cash. Link to post Share on other sites More sharing options...
MamlngEnvy Posted January 29, 2020 Author Report Share Posted January 29, 2020 Also our original agreement wasbt signed person to person it wass signed to the group that owned the complex so it wasnt aa person to person loan. Link to post Share on other sites More sharing options...
Popular Post abenjami Posted January 30, 2020 Popular Post Report Share Posted January 30, 2020 This is that part of life where you pay a little bit of money to get some real advice from a good lawyer in your area, instead of asking random people on the internet. pat, SleepingTitan, TNTitans, and 2 others 5 Link to post Share on other sites More sharing options...
MamlngEnvy Posted January 30, 2020 Author Report Share Posted January 30, 2020 Just now, abenjami said: This is that part of life where you pay a little bit of money to get some real advice from a good lawyer in your area, instead of asking random people on the internet. Dayum Link to post Share on other sites More sharing options...
Popular Post abenjami Posted January 30, 2020 Popular Post Report Share Posted January 30, 2020 35 minutes ago, JakePA_Titan said: I thought the know it alls here loved offering free advice and showing their superiority? I just did exactly that. Denali, Pragidealist, IsntLifeFunny, and 5 others 8 Link to post Share on other sites More sharing options...
abenjami Posted January 30, 2020 Report Share Posted January 30, 2020 1 minute ago, JakePA_Titan said: Having seen your ego at work before, we both know that's not true. You're more simple than I thought. MadMax, and IsntLifeFunny 2 Link to post Share on other sites More sharing options...
MamlngEnvy Posted January 30, 2020 Author Report Share Posted January 30, 2020 I'll mail you salsa for advice lol Link to post Share on other sites More sharing options...
abenjami Posted January 30, 2020 Report Share Posted January 30, 2020 5 minutes ago, SNAPHISANKLE said: I'll mail you salsa for advice lol lol. Not even a Cubano? You need advice from someone who knows the laws in Arizona. They differ from state to state. rns90 1 Link to post Share on other sites More sharing options...
MamlngEnvy Posted January 30, 2020 Author Report Share Posted January 30, 2020 15 minutes ago, abenjami said: lol. Not even a Cubano? You need advice from someone who knows the laws in Arizona. They differ from state to state. Fine salsa and cubanos Link to post Share on other sites More sharing options...
CaliTitan3518 Posted January 30, 2020 Report Share Posted January 30, 2020 The old owner probably made more than enough money by selling the building to not give a shit about your 40k. Definitely discuss with a lawyer. Link to post Share on other sites More sharing options...
abenjami Posted January 30, 2020 Report Share Posted January 30, 2020 37 minutes ago, CaliTitan3518 said: The old owner probably made more than enough money by selling the building to not give a shit about your 40k. Definitely discuss with a lawyer. Or maybe do the right thing and discuss it with the guy who lent the money. chef 1 Link to post Share on other sites More sharing options...
CaliTitan3518 Posted January 30, 2020 Report Share Posted January 30, 2020 43 minutes ago, abenjami said: Or maybe do the right thing and discuss it with the guy who lent the money. The right thing? Fuck that. Try to save yourself 40k. That’s probably more than he makes in a whole year. Link to post Share on other sites More sharing options...
MamlngEnvy Posted February 1, 2020 Author Report Share Posted February 1, 2020 (edited) On 1/30/2020 at 8:54 AM, abenjami said: Or maybe do the right thing and discuss it with the guy who lent the money. I have tried. when I asked him what it means for our deal when he told me he sold it he just, like, chuckled. then I sent him an email cause I had a scheduled check to drop off asking if the checks need to be made to a new name Or to him personally and never got an answer just a contact list for the new owners saying any repairs or anything can go to the new owners (seemed like the list they likely sent to all tenants.) ive met the new owners twice and didn’t mention anything other than where to drop off rent checks or who to call for repairs. Edited February 1, 2020 by SNAPHISANKLE Link to post Share on other sites More sharing options...
SleepingTitan Posted February 11, 2020 Report Share Posted February 11, 2020 (edited) I picked up the note. Just send me the money and nobody gets hurt. Honestly, jokes aside, is Nashville really balling that hard that people are casually throwing around 80k loans and not asking for documentation? Have you not seen any paperwork? Do you know anyone who would give me a verbal signature loan for 80k? I am once again asking for your financial support. Edited February 11, 2020 by SleepingTitan Link to post Share on other sites More sharing options...
SleepingTitan Posted February 11, 2020 Report Share Posted February 11, 2020 On 1/29/2020 at 4:51 PM, SNAPHISANKLE said: About a year ago, a person with an empty building lent me 80k to build a restaurant in there. The plan basically was id pay him back as much as i could each month. Our agreement waS after paid off id sign a 5 year lease. I have paid about 40k, and he sold the building. I signed an estoppel that just mentioned a rent paymmemt and nothing else to the new landlord, with my 5 year lease starting now. The original investor/landlord came in wished me luck and said his goodbyes. The new landlord came in and gave me an address to pay rent and didn't mention anything about the 40k I still owed. Should the estoppel of mentioned the transfer of the 40k debt? My building is a small piece if a pretty big complex that waS sold in its entirety. I feel like I got let off the hook for a big chunk of cash. Looking at this a little further, it looks like you just went halfsies on renovating an empty building that someone else sold. The only way you win is if you hold onto your lease or turn a good profit from your restaurant. Link to post Share on other sites More sharing options...
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