Posted by Paul on June 23, 2011 at 13:01:53:
Sounds like a good opportunity to me. I was wondering if you have already secured the capital to make this purchase? If not, my firm might be able to help you out.
Commercial deal, rural area. - Posted by Redline
Posted by Redline on April 30, 2011 at 14:20:47:
Hello, interested in some feedback on a deal I am looking at:
Commercial property, total of 35k sqft in a rural part of our state (NJ). Light manuf/office/operations. Numbers make sense. 8 paying tenants, 3 vacancies.
We’re buying at 12.5 cap, $50k down, owner financing for 5 years w/2 year extension option @ 6% int (30 year amort). This is located approx 1 hour from me. My concern is that I am not used to rural areas and am concerned that since there is not much around I will have problems trying to find tenants when leasing or another buyer when I want to take my profit. As I said, numbers do seem to be great (due diligence pending).
Talk some sense into me.
RL